Zevra Therapeutics Records $106.5M Revenue, MIPLYFFA Sales of $87.4M in 2025
Zevra Therapeutics posted $106.5 million in net revenue for 2025, including $87.4 million from MIPLYFFA sales and 161 patient enrollments since launch. Operating expenses rose to $23 million in Q4 2025 with a $4.3 million SG&A increase, as global expanded access enrollments reached 113 patients.
1. Financial Performance
Zevra delivered $106.5 million in net revenue for full-year 2025, driven by MIPLYFFA sales of $87.4 million. Q4 operating expenses rose to $23 million as the company invested in commercial and development activities.
2. Enrollment and Market Expansion
The company enrolled 161 patients in the U.S. since MIPLYFFA launch and reported 113 participants in its global expanded access program by year-end, reinforcing confidence in an addressable population of 300–350 diagnosed patients.
3. Expense Growth and Revenue Variability
SG&A expenses increased by $4.3 million year-over-year in Q4 2025, driven by disease awareness initiatives and genetic testing collaborations, while variability in ordering patterns may lead to lumpy quarterly sales.
4. Collaborations and Diagnostic Acceleration
A partnership with GeneDx aims to provide test results within three weeks to speed patient identification, and the Uniphar collaboration has enabled initial MIPLYFFA shipments in Europe, supporting 2026 expansion.