Zevra Therapeutics entered into an Asset Purchase and Settlement Agreement with Commave Therapeutics on March 13, 2026, selling its SDX portfolio including AZSTARYS and KP1077 for $50 million cash and resolving Delaware Chancery Court litigation. The company repaid approximately $63 million outstanding under its Credit Agreement on March 12, 2026, terminating the facility and achieving a debt-free balance sheet.
Key takeaways
Entered Asset Purchase and Settlement Agreement with Commave Therapeutics SA on March 13, 2026
Sold SDX portfolio assets including AZSTARYS (KP415) and KP1077 for $50.0 million cash payable in installments: $25.0M on execution, $20.0M within 10 business days, $5.0M after records delivery
Terminated AZSTARYS License Agreement dated September 3, 2019, and mutually released claims in litigation C.A. No. 2024-0920-LWW
Repaid approximately $63.0 million principal plus interest under Credit Agreement on March 12, 2026
Credit Agreement dated April 5, 2024, with Lenders HCR Stafford Fund II, L.P., HCR Potomac Fund II, L.P., and Perceptive Credit Holdings IV, LP terminated; all liens released
Issued press release on March 16, 2026, announcing the transactions