Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares are trading higher on Monday after the company announced it sold its SDX Portfolio to Commave Therapeutics for $50 million.

Zevra Sells SDX Portfolio

Zevra said Commave Therapeutics SA will acquire its serdexmethylphenidate (SDX) portfolio, including AZSTARYS and KP1077, for $50 million.

"We are pleased to have reached a mutually beneficial agreement with Commave regarding the sale of our entire SDX portfolio," said Neil F. McFarlane, Zevra's president and CEO.

"Over the years, we have enjoyed a productive partnership with Commave, and we are confident these programs are in capable hands. We are excited to turn the page to Zevra's next chapter and remain focused on our mission of redefining what’s possible for patients living with rare diseases."

Agreement Resolves Litigation

Zevra and Commave previously entered into a 2019 license agreement granting Commave an exclusive license to certain SDX products.

In 2024, Commave initiated litigation in Delaware Chancery Court against Zevra. As part of the new purchase agreement, both companies agreed to settle the dispute.

Debt Repaid

Prior to entering the agreement, Zevra repaid the principal balance on its $63 million term loan in full, resulting in a debt-free balance sheet.

The company said the move enhances its financial and strategic flexibility going forward.

Zevra Shares Climb

ZVRA Price Action: At the time of publication, Zevra shares are trading 4.56% higher at $10.44, according to data from Benzinga Pro.

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