Zevra Therapeutics (ZVRA) 10-Q 13 Nov 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 13, 2024
Document Information [Line Items]
Entity Central Index Key	0001434647
Entity Registrant Name	ZEVRA THERAPEUTICS, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-36913
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5894398
Entity Address, Address Line One	1180 Celebration Boulevard, Suite 103
Entity Address, City or Town	Celebration
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34747
City Area Code	321
Local Phone Number	939-3416
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	ZVRA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		53,375,932

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 54,039	$ 43,049
Securities at fair value, current	35,337	24,688
Accounts and other receivables	7,790	17,377
Prepaid expenses and other current assets	2,276	1,824
Total current assets	99,442	86,938
Inventories	8,756	9,841
Securities at fair value, long-term	6,105	0
Property and equipment, net	607	736
Operating lease right-of-use assets	820	790
Goodwill acquired	4,701	4,701
Intangible assets, net	70,608	69,227
Other long-term assets	512	94
Total assets	191,551	172,327
Liabilities and stockholders' equity
Accounts payable and accrued expenses	24,464	28,403
Line of credit payable	0	37,700
Current portion of operating lease liabilities	540	543
Current portion of discount and rebate liabilities	8,547	4,550
Other current liabilities	930	2,524
Total current liabilities	34,481	73,720
Long-term debt	58,904	5,066
Warrant liability	13,902	16,100
Operating lease liabilities, less current portion	483	456
Discount and rebate liabilities, less current portion	8,490	7,663
Other long-term liabilities	5,521	7,458
Total liabilities	121,781	110,463
Commitments and contingencies (Note D)
Stockholders’ equity:
Common stock, $0.0001 par value, 250,000,000 shares authorized, 54,803,056 shares issued and 53,227,364 shares outstanding as of September 30, 2024; 43,110,360 shares issued and 41,534,668 shares outstanding as of December 31, 2023	5	4
Additional paid-in capital	550,413	472,664
Treasury stock, at cost	(10,983)	(10,983)
Accumulated deficit	(469,550)	(399,778)
Accumulated other comprehensive income (loss)	(115)	(43)
Total stockholders' equity	69,770	61,864
Total liabilities and stockholders' equity	191,551	172,327
Undesignated Preferred Stock [Member]
Stockholders’ equity:
Undesignated preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of September 30, 2024, or December 31, 2023	$ 0	$ 0

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	54,803,056	43,110,360
Common stock, shares outstanding (in shares)	53,227,364	41,534,668
Undesignated Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue, net	$ 3,695	$ 2,895	$ 11,569	$ 14,541
Cost of product revenue (excluding $1,545 and $4,619 in intangible asset amortization for the three and nine months ended September 30, 2024, respectively shown separately below)	2,303	144	6,051	946
Intangible asset amortization	1,545	0	4,619	0
Operating expenses:
Research and development	10,945	12,297	33,743	28,385
Selling, general and administrative	16,208	5,818	38,743	19,657
Total operating expenses	27,153	18,115	72,486	48,042
Loss from operations	(27,306)	(15,364)	(71,587)	(34,447)
Other (expense) income:
Interest expense	(2,312)	(366)	(5,157)	(745)
Fair value adjustment related to warrant and CVR liability	(4,746)	3,678	4,660	4,253
Fair value adjustment related to investments	90	124	64	451
Interest and other income (expense), net	1,049	1,738	2,248	4,331
Total other (expense) income	(5,919)	5,174	1,815	8,290
Loss before income taxes	(33,225)	(10,190)	(69,772)	(26,157)
Income tax expense	0	(177)	0	0
Net loss	$ (33,225)	$ (10,367)	$ (69,772)	$ (26,157)
Basic and diluted net loss per share of common stock:
Net loss (in dollars per share)	$ (0.69)	$ (0.3)	$ (1.59)	$ (0.76)
Weighted average number of shares of common stock outstanding:
Basic and diluted (in shares)	47,808,817	34,724,614	43,843,851	34,364,075

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Operations (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amortization of intangible assets	$ 1,545	$ 0	$ 4,619	$ 0

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net loss	$ (33,225)	$ (10,367)	$ (69,772)	$ (26,157)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(536)	5	(72)	(333)
Other comprehensive (loss) income	(536)	5	(72)	(333)
Comprehensive loss	$ (33,761)	$ (10,362)	$ (69,844)	$ (26,490)

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Previously Reported [Member] Common Stock [Member]	Previously Reported [Member] Additional Paid-in Capital [Member]	Previously Reported [Member] Treasury Stock, Common [Member]	Previously Reported [Member] Retained Earnings [Member]	Previously Reported [Member] AOCI Attributable to Parent [Member]	Previously Reported [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2022	$ 3	$ 436,269	$ (7,536)	$ (353,729)	$ 113	$ 75,120
Net Income (loss)							$ 0	$ 0	$ 0	$ (13,217)	$ 0	$ (13,217)
Stock-based compensation expense							0	945	0	0	0	945
Issuance of common stock in exchange for consulting services							0	42	0	0	0	42
Other comprehensive income							0	0	0	0	(176)	(176)
Net loss							0	0	0	(13,217)	0	(13,217)
Balance at Mar. 31, 2023							3	437,256	(10,983)	(366,946)	(63)	59,267
Shares repurchased as part of the Share Repurchase Program							0	0	(3,447)	0	0	(3,447)
Balance at Dec. 31, 2022	3	436,269	(7,536)	(353,729)	113	75,120
Net Income (loss)												(26,157)
Other comprehensive income												(333)
Net loss												(26,157)
Balance at Sep. 30, 2023							3	452,608	(10,983)	(379,886)	(220)	61,522
Balance at Mar. 31, 2023							3	437,256	(10,983)	(366,946)	(63)	59,267
Net Income (loss)							0	0	0	(2,573)	0	(2,573)
Stock-based compensation expense							0	2,151	0	0	0	2,151
Issuance of common stock in exchange for consulting services							0	25	0	0	0	25
Issuance of common stock as part of the Employee Stock Purchase Plan							0	165	0	0	0	165
Other comprehensive income							0	0	0	0	(162)	(162)
Net loss							0	0	0	(2,573)	0	(2,573)
Balance at Jun. 30, 2023							3	439,597	(10,983)	(369,519)	(225)	58,873
Net Income (loss)							0	0	0	(10,367)	0	(10,367)
Stock-based compensation expense							0	1,440	0	0	0	1,440
Issuance of common stock in exchange for consulting services							0	71	0	0	0	71
Other comprehensive income							0	0	0	0	5	5
Net loss							0	0	0	(10,367)	0	(10,367)
Balance at Sep. 30, 2023							3	452,608	(10,983)	(379,886)	(220)	61,522
Issuance of common stock in connection with the Merger (Note L)							0	11,500	0	0	0	11,500
Balance at Dec. 31, 2023	4	472,664	(10,983)	(399,778)	(43)	61,864						61,864
Net Income (loss)							0	0	0	(16,622)	0	(16,622)
Stock-based compensation expense							0	2,119	0	0	0	2,119
Issuance of common stock in exchange for consulting services							0	56	0	0	0	56
Issuance of common stock as part of the Employee Stock Purchase Plan							0	71	0	0	0	71
Issuance of common stock for options exercised							0	1,146	0	0	0	1,146
Other comprehensive income							0	0	0	0	184	184
Net loss							0	0	0	(16,622)	0	(16,622)
Balance at Mar. 31, 2024							4	476,056	(10,983)	(416,400)	141	48,818
Balance at Dec. 31, 2023	$ 4	$ 472,664	$ (10,983)	$ (399,778)	$ (43)	$ 61,864						61,864
Net Income (loss)												(69,772)
Other comprehensive income												(72)
Net loss												(69,772)
Balance at Sep. 30, 2024							5	550,413	(10,983)	(469,550)	(115)	69,770
Balance at Mar. 31, 2024							4	476,056	(10,983)	(416,400)	141	48,818
Net Income (loss)							0	0	0	(19,925)	0	(19,925)
Stock-based compensation expense							0	2,632	0	0	0	2,632
Issuance of common stock in exchange for consulting services							0	193	0	0	0	193
Issuance of common stock as part of the Employee Stock Purchase Plan							0	480	0	0	0	480
Other comprehensive income							0	0	0	0	280	280
Net loss							0	0	0	(19,925)	0	(19,925)
Balance at Jun. 30, 2024							4	479,361	(10,983)	(436,325)	421	32,478
Net Income (loss)							0	0	0	(33,225)	0	(33,225)
Stock-based compensation expense							0	6,137	0	0	0	6,137
Issuance of common stock in exchange for consulting services							0	150	0	0	0	150
Issuance of common stock as part of the Employee Stock Purchase Plan							0	92	0	0	0	92
Issuance of common stock for options exercised							0	157	0	0	0	157
Other comprehensive income							0	0	0	0	(536)	(536)
Net loss							0	0	0	(33,225)	0	(33,225)
Issuance of common stock in public offering							1	64,516	0	0	0	64,517
Balance at Sep. 30, 2024							$ 5	$ 550,413	$ (10,983)	$ (469,550)	$ (115)	$ 69,770

Unaudited Condensed Consolida_7

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (69,772)	$ (26,157)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	10,888	4,482
Inventory obsolescence charge	5,244	0
Non-cash interest expense	1,489	0
Depreciation and amortization expense	4,741	219
Fair value adjustment related to warrant and CVR liability	(4,660)	(4,159)
Fair value adjustment related to investments	(64)	(451)
Loss on sublease and disposal of property and equipment	0	157
Consulting fees paid in common stock	399	138
Loss (gain) on foreign currency exchange	147	(30)
Change in assets and liabilities:
Accounts and other receivables	9,587	(1,628)
Prepaid expenses and other assets	(452)	27
Inventories	(4,159)	190
Operating lease right-of-use assets	389	243
Other long-term assets	0	(93)
Accounts payable and accrued expenses	(10,590)	5,400
Discount and rebate liability	4,824	3,895
Operating lease liabilities	(395)	(326)
Other liabilities	(1,031)	716
Net cash used in operating activities	(53,415)	(17,377)
Cash flows from investing activities:
Purchases of property and equipment	0	(224)
Purchases of investments	(41,488)	(45,821)
Purchases of secured corporate notes	0	(25,426)
Maturities of investments	24,798	43,496
Net cash used in investing activities	(16,690)	(27,975)
Cash flows from financing activities:
Proceeds from issuance of debt, net of lender fees	58,990	38,801
Payment of third-party debt issuance costs	(2,091)	0
Repayment of debt	(42,700)	(12,800)
Proceeds from insurance financing arrangements	1,082	1,256
Proceeds from Employee Stock Purchase Plan	643	219
Payments of principal on insurance financing arrangements	(431)	(564)
Payments to repurchase shares as part of the Share Repurchase Program	0	(3,447)
Proceeds from issuance of stock	65,819	0
Repayment of principal on finance lease liabilities	0	(5)
Net cash provided by financing activities	81,312	23,460
Effect of exchange rate changes on cash and cash equivalents	(217)	(305)
Net increase (decrease) in cash and cash equivalents	10,990	(22,197)
Cash and cash equivalents, beginning of period	43,049	65,466
Cash and cash equivalents, end of period	54,039	43,269
Supplemental cash flow information:
Cash paid for interest	$ 3,668	$ 456

Note A - Description of Busines

Note A - Description of Business, Basis of Presentation and Significant Transactions	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	A. Description of Business, Basis of Presentation, and Significant Transactions Organization Zevra Therapeutics, Inc. (the "Company") is a commercial-stage company focused on addressing unmet needs for the treatment of rare diseases. The Company has a diverse portfolio of products and product candidates, which includes clinical stage pipeline and commercial stage assets. On September 20, 2024, ”) for ), which is an ul . the first two OLPRUVA ® (sodium ph KP1077 KP1077 KP1077 The Company changed its name from KemPharm, Inc. to Zevra Therapeutics, Inc. effective as of February 21, 2023. March 1, 2023, Going Concern The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. During the nine September 30, 2024, 2023, of $69.8 m September 30, 2024, $469.6 mi The Company’s ability to continue operating as a going concern is contingent upon its ability to generate revenue from approved products or obtain product candidate regulatory approvals, which would generate revenue, milestones, and cash flow sufficient to support ongoing operations and the satisfaction of financial covenants. These factors raise substantial doubt as to the Company’s ability to continue as a going concern for at least one not The Company's liquidity needs will be largely determined by the success of operations through the progression of its products and product candidates in the future. The Company also may 1 2 3 4 one 5 not not may Basis of Presentation The Company prepared the unaudited condensed consolidated financial statements in accordance with U.S. GAAP and the rules and regulations of the Securities and Exchange Commission ("SEC") and, in the Company's opinion, reflect all adjustments, including normal recurring items that are necessary. Merger On August 30, 2023, November 17, 2023 ( Registration Statements on Form S- 3 In connection with the Merger, Zevra and Nantahala concurrently entered into a registration rights agreement, pursuant to which Zevra agreed to file a resale registration statement with respect to the resale of the Zevra common stock issuable to Nantahala. On February 5, 2024, 3 No. 333 276856 April 5, 2024, 3 No. 333 250945 April 8, 2024. On June 4, 2024, 3 No. 333 279941 "June 2024 may may one 2024 Jun e 13, 2024. August 2024 On August 8, 2024, June 2024 August 8, 2024 "August 2024 30 August 9, 2024. August 2024 August 12, 2024. $64.5 KP1077 Based on the planned use of proceeds, the Company believes that the net proceeds from the August 2024 o 2027, Entry into 2024 ATM Agreement On July 12, 2024, "2024 may 2024 June 2024 July 12, 2024. may 415 may 2024 September 30, 2024, 2024 Termination of 2021 ATM Agreement On July 2, 2021, "2021 may 2021 3 No. 333 257661 July 12, 2021, July 12, 2021. may 415 may 2021 2021 July 11, 2024, 2021 Share Repurchase Program On December 20, 2021, December 31, 2023. December 31, 2023, hased 1,575,692 shares of its common stock for approximately $11.0 million.

Note B - Summary of Significant

Note B - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	B. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives of property and equipment, the recoverability of long-lived assets, the incremental borrowing rate for leases, and assumptions used for purposes of determining stock-based compensation, income taxes, the fair value of investments and the fair value of the warrant liabilities, contingent value right ("CVR") liabilities and discount and rebate liabilities, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Investments The Company maintains investment securities that are classified as available-for-sale securities for which the Company has elected the fair value option under Accounting Standards Codification ("ASC") 825, Financial Instruments 825" . Treasury securities and one five September 30, 2024, December 31, 2023, m $0.1 mi Interest income is recognized as earned using an effective yield method giving effect to the amortization of premium and accretion of discount and is based on t Variable Interest Entities The primary beneficiary of a variable interest entity ("VIE") is required to consolidate the assets and liabilities of the VIE. When the Company obtains a variable interest in another entity, it assesses at the inception of the relationship and upon occurrence of certain significant events whether the entity is a VIE, and if so, whether the Company is the primary beneficiary of the VIE based on its power to direct the activities of the VIE that most significantly impact the VIE's economic performance and the Company's obligation to absorb losses or the rights to receive benefits from the VIE that could potentially be significant to the VIE. To assess whether the Company has the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, the Company considers all the facts and circumstances, including the Company's role in establishing the VIE and the Company's ongoing rights and responsibilities. The assessment includes identifying the activities that most significantly impact the VIE's economic performance and identifying which party, if any, has the power to direct those activities. In general, the parties that make the most significant decisions affecting the VIE (management and representation on the Board of Directors) are deemed to have the power to direct the activities of a VIE. To assess whether the Company has the obligation to absorb losses of the VIE or the rights to receive benefits from the VIE that could potentially be significant to the VIE, the Company considers all of its economic interests that are deemed to be variable interests in the VIE. This assessment requires judgement in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. As of September 30, 2024, December 31, 2023, Revenue Recognition The Company recognizes revenue in accordance with the provisions of ASC 606, Revenue from Contracts with Customers 606” five 1 2 3 4 5 Licensing Agreements The terms of the Company’s licensing agreements typically include one may As part of the accounting for these agreements, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. Generally, the estimation of the stand-alone selling price may Up-front Fees: Milestone Payments: not not not may Product Revenues, Net Net revenues from product sales is recognized at the transaction price when the customer obtains control of the Company's products, which occurs at a point in time, typically upon receipt of the product by the customer. Our current single customer is a specialty pharmacy provider. The Company's net revenues represent total revenues adjusted for discounts and allowances, including estimated cash discounts, chargebacks, rebates, returns, copay assistance, data fees and wholesaler fees for services. These adjustments represent variable consideration under ASC 606 Acquired IPR&D and Milestones Expenses In an asset acquisition, payments incurred prior to regulatory approval to acquire rights to in-process R&D projects are expensed as acquired IPR&D and milestones expense in the consolidated statements of earnings unless the project has an alternative future use. These costs include upfront and development milestone payments related to R&D collaborations, licensing arrangements, or other asset acquisitions that provide rights to develop, manufacture and/or sell pharmaceutical products. Where contingent development milestone payments are due to third third Inventories The value of inventory is recorded at its net realizable value. The Company determines the cost of its other inventories, which includes amounts related to materials and manufacturing overhead, on a first first The Company may may not may not September 30, 2024, December 31, 2023, not The Company performs an assessment of the recoverability of capitalized inventory during each reporting period and writes down any excess and obsolete inventory to its net realizable value in the period in which the impairment is first may not three nine September 30, 2024, imately $2.0 m illion and $5.2 million, respectively, related to write-downs for unsaleable inventory. No such write downs were recognized for the three nine September 30, 2023. Foreign currency Assets and liabilities are translated into the reporting currency using the exchange rates in effect on the unaudited condensed consolidated balance sheet dates. Equity accounts are translated at historical rates, except for the change in accumulated deficit during the year, which is the result of the income statement translation process. Revenue and expense accounts are translated using the weighted average exchange rate during the period. The cumulative translation adjustments associated with the net assets of foreign subsidiaries are recorded in accumulated other comprehensive income/loss in the accompanying unaudited condensed consolidated statements of stockholders’ equity. Debt Issuance Costs Debt issuance costs incurred in connection with financing arrangements are recorded as a reduction of the related debt on the balance sheet and amortized over the life of the respective financing arrangement using the effective interest method. Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC Topic 480, Distinguishing Liabilities from Equity 480" 815, Derivatives and Hedging 815" 480, 480, 815, For warrants that meet all criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital, on the unaudited condensed consolidated statement of stockholders’ deficit at the time of issuance. For warrants that do not New Accounting Pronouncements Not Segment Reporting (Topic 280 In November 2023, No. 2023 07, Segment Reporting (Topic 280 Improvements to Reportable Segment Disclosures December 15, 2023, December 15, 2024. Income Taxes (Topic 740 In December 2023, No. 2023 09, Income Taxes (Topic 740 December 15, 2024.

Note C - Inventories

Note C - Inventories	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	C. Inventories September 30, December 31, 2024 2023 Raw materials $ 4,549 $ 2,938 Work in progress 3,084 1,884 Finished goods 1,123 5,019 Total inventory $ 8,756 $ 9,841

Note D - Debt Obligations

Note D - Debt Obligations	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	D. Debt Obligations Long-term debt consisted of the following (in thousands): September 30, December 31, 2024 2023 Notes payable $ 61,035 $ — Secured promissory note — 5,000 Unamortized original issue (discount) premium (959 ) 148 Less: debt issuance costs (1,172 ) (82 ) $ 58,904 $ 5,066 Secured Promissory Note In connection with the Merger (Note L), on August 30, 2023, March 1, 2024, six twenty first second August 30, 2026, third April 2024, March 1, 2024, April 5, 2024. Line of Credit On January 26, 2023, ts were used as collateral for the loan and the amount the Company was able to borrow was limited to 80-90% of its outstanding investment balance held with Wells Fargo. The margin account bore interest at the Prime rate minus 225 basis-points. As of December 31, 2023, April 2024, Term Loans On April 5, 2024 ( Under the terms of the Credit Agreement, the Lenders provided a senior secured loan facility to the Company in the aggregate principal amount of $100.0 million, which is divided into three two not 18 December 31, 2024 ( The principal amount of the Term Loans outstanding (the “Outstanding Principal Amount”) will bear interest at a rate equal to 3 plus December 31, 2025, 3 plus December 31, 2025, not four March 31, 2026, 3 plus 3 June 30, 2026. 0.9 mi September 30, 2024, fifth ely $2.2 million The Credit Agreement contains customary affirmative and negative covenants by the Company, which among other things, will require the Company to provide certain financial reports to the Lenders within 60 first three 105 may first Future minimum principal payments under the Term Loans as of September 30, 2024 , were Year Ending December 31, 2024 (excluding the nine months ending September 30, 2024) $ — 2025 — 2026 — 2027 — 2028 — Thereafter 60,919 Total minimum payments 60,919 Less: unamortized debt discount, debt issuance costs and paid in kind interest (2,015 ) Note payable $ 58,904

Note E - Revenue, Net

Note E - Revenue, Net	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	E. Revenue, net Licensing Agreements AZSTARYS License Agreement The Company entered into a Collaboration and License Agreement (the “AZSTARYS License Agreement”) with Commave Therapeutics SA (formerly known as Boston Pharmaceutical S.A.) ("Commave"), an affiliate of Gurnet Point Capital, L.P., dated September 3, 2019. The Company concluded that these regulatory milestones, sales milestones and royalty payments each contain a significant uncertainty associated with a future event. As such, these milestone and royalty payments are constrained at contract inception and are not not not ents. At the end of each reporting period, the Company updates its assessment of whether the milestone and royalty payments are constrained by considering both the likelihood and magnitude of the potential revenue reversal. For the three nine September 30, 2024, three nine September 30, 2023, $0. 9 $5.0 m June 2023. no September 30, 2024, December 31, 2023. In accordance with the terms of the Company’s Termination Agreement with Aquestive Therapeutics ("Aquestive") dated March 20, 2012, KP1077 The AZSTARYS License Agreement is within the scope of ASC 606, not Relief Exclusive License Agreement As a condition to entering into the Merger Agreement, Acer and Relief Therapeutics SA ("Relief") entered into an exclusive license agreement on August 30, 2023 ( three nine September 30, 2024, not no September 30, 2024, December 31, 2023. Product Revenues, Net Expanded Access Program Net revenue includes revenue from the sale of arimoclomol for the treatment of NPC under the remunerated expanded access compassionate use program in France (“French nATU”). An expanded access compassionate use program is a program giving specific patients access to a drug, which is not no In accordance with ASC 606, The French Health Authorities and the manufacturer have agreed to a price for sales during the French nATU, but the final transaction price depends on the terms and conditions in the contracts with the French Health Authorities and is subject to price negotiations with the French Health Authorities following market approval. Any excess in the price charged the manufacturer compared to the price agreed with the health authorities once the drug product is approved in France must be repaid. The repayment is considered in the clawback liability (rebate). An estimate of net revenue and clawback liability are recognized using the ‘expected value’ method. Accounting for net revenue and clawback liability requires determination of the most appropriate method for the expected final transaction price. This estimate also requires assumptions with respect to inputs into the method, including current pricing of comparable marketed products within the rare disease area in France. Management has considered the expected final sales price as well as the price of similar drug products. The Company is operating within a rare disease therapeutic area where there is unmet treatment need and hence a limited number of comparable commercialized drugs products. The limited available relevant market information for directly comparable commercialized drugs within rare disease increases the uncertainty in management's estimate. For the three nine September 30, 2024, of $2.6 million and $8.0 million, respectively, which is net of a clawback liability of $1.4 million and $4.4 million, respe three nine September 30, 2023, $2.0 million and $7.1 million, respectively, which is net of a clawback liability of $1.1 m September 30, 2024, December 31, 2023, as $17.0 mil $12.2 mi September 30, 2024, December 31, 2023, Product Sales On December 27, 2022, 44 20 1.2m2 November 17, 2023, three nine September 30, 2024, ere de minimis. On September 20, 2024, or , which is an ul three nine September 30, 2024, ere de minimis. May 2011, June 2023 ( three nine September 30, 2024, The Company currently utilizes a single specialty pharmacy provider as its sole distributor for both OLPRUVA and MIPLYFFA. The Company also enters into arrangements with health care providers and payors that provide for government mandated and/or privately negotiated rebates with respect to the purchase of its products. To commercialize OLPRUVA for oral suspension and MIPLYFFA in the U.S., the Company has built marketing, sales, medical affairs, distribution, managerial and other non-technical capabilities or is making arrangements with third Accounts and Other Receivables Accounts and other receivables consist of receivables from product sales, receivables under the AZSTARYS License Agreement and EAP, as well as income tax receivables and other receivables due to the Company. Receivables under the AZSTARYS License Agreement are recorded for amounts due to the Company related to reimbursable third September 30, 2024, of $4.4 m $1.1 mi $2.3 m December 31, 2023, mi $11.4 m and other receivables of $1.3 m September 30, 2024, December 31, 2023,

Note F - Commitments and Contin

Note F - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	F. Commitments and Contingencies From time to time, the Company is involved in various legal proceedings arising in the normal course of business. For some matters, a liability is not not Stockholder Litigation Related to the Merger On October 12, 2023, No. 1:23 08995 14 20 1934 October 30, 2023, DEF14A December 8, 2023, On October 20, 2023, No. 1:23 01185 14 20 1934 14a 9 not On October 20, 2023, No. 1:23 01186 14 20 1934 14a 9 not On June 19, 2024, second 2024. Litigation Related to the AZSTARYS License Agreement In September 2024, not no not may As of September 30, 2024 , and December 31, 2023 , no ac

Note G - Stock and Warrants

Note G - Stock and Warrants	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Equity [Text Block]	G. Stock and Warrants Authorized, Issued, and Outstanding Common Shares As of September 30, 2024 , and December 31, 2023 , the Company had authorized shares of common stock of 250,000,000 shares. Of the authorized shares, 54,803,056 and 43,110,360 shares of common stock were issued as of September 30, 2024 , and December 31, 2023 , respectively, and 53,227,364 and 41,534,668 shares of common stock were outstanding as of September 30, 2024 , and December 31, 2023 , respectively. As of September 30, 2024, and December 31, 2023 September 30, 2024 December 31, 2023 Outstanding awards under equity incentive plans 8,987,997 8,023,142 Outstanding common stock warrants 5,483,537 5,603,729 Possible future issuances under equity incentive plans 4,536,410 1,728,885 Possible future issuances under employee stock purchase plans 1,242,425 1,340,172 Total common shares reserved for future issuance 20,250,369 16,695,928 Common Stock Activity The following table summarizes common stock activity for t he nine September 30, 2024 : Shares of Common Stock Balance as of January 1, 2024 41,534,668 Common stock issued as compensation to third parties 9,000 Common stock issued as a result of stock options exercised 306,826 Balance as of March 31, 2024 41,850,494 Common stock issued as a result of the Employee Stock Purchase Plan 97,747 Common stock issued as compensation to third parties 41,820 Common stock issued as a result of stock options exercised 1,403 Balance as of June 30, 2024 41,991,464 Common stock issued as compensation to third parties 32,820 Common stock issued in connection with the Public Offering (Note B) 10,615,385 Common stock issued as a result of stock options exercised 39,750 Common stock issued in connection with vesting of performance-based awards 547,945 Balance as of September 30, 2024 53,227,364 Authorized, Issued, and Outstanding Preferred Stock As of September 30, 2024 , and December 31, 2023 , th none Warrants to Purchase Common Stock The Company has issued warrants to purchase common stock to various third September 30, 2024, 260, Earnings per Share may In connection with the Merger (Note L), in November 2023, "2023 November 22, 2028. September 30, 2024, December 31, 2023, none 480 815. The Company determined that its outstanding warrants and the Put Option should be recorded as a liability and stated at fair value at each reporting period. Changes to the fair value of th e warrant liability are recorded through the unaudited condensed consolidated statements of operations as a fair value adjustment related to warrant and CVR liability. As of September 30, 2024, December 31, 2023, $13.9 m $6.0 mill d $2.2 three nine September 30, 2024, three nine September 30, 2023,

Note H - Stock-based Compensati

Note H - Stock-based Compensation	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	H. Stock-Based Compensation The Company maintains a stock-based compensation plan (the “Incentive Stock Plan”) that governs stock awards made to employees and directors prior to completion of the IPO. In November 2014, April 2015, 2014 “2014 April 2015. 2014 June 2021, 2014 2014 April 2021, 4,900,000 til January 1, 2031 2014 162 may 2014 September 30, 2024 2014 January 1 January 1, 2031, December 31 2014 January 1, 2024, 2014 1,661,386 During the three nine September 30, 2024, three nine September 30, 2023, In June 2021, April 2021. may first October 1, 2021, first May 31, 2022. September 30, 2024, 257,575 shar In January 2023, 2023 "2023 2023 February 2024, 2023 2023 In May 2023, 2014 Stock-based compensation expense recorded under the Incentive Stock Plan, A&R 2014 2023 Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Research and development $ 1,441 $ 720 $ 3,322 $ 2,023 Selling, general and administrative 4,696 667 7,566 1,058 Total stock-based compensation expense $ 6,137 $ 1,387 $ 10,888 $ 3,081 During the three nine September 30, 2024, nine September 30, 2023.

Note I - Fair Value of Financia

Note I - Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	I. Fair Value of Financial Instruments The accounting standard for fair value measurements provides a framework for measuring fair value and requires disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, based on the Company’s principal or, in absence of a principal, most advantageous market for the specific asset or liability. The Company uses a three three ● Level 1—Observable ● Level 2—Observable ● Level 3—Unobservable no The carrying amounts of certain financial instruments, including cash and cash equivalents, investments, and accounts payable and accrued expenses, approximate their respective fair values due to the short-term nature of such instruments. Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. This determination requires significant judgments to be made. The following table summarizes the conclusions reached regarding fair value measurements a s of September 30, 2024 , and December 31, 2023 (in tho Balance as of September 30, 2024 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) CVR liability (Note L) $ 4,800 $ — $ — $ 4,800 Warrant liabilities 13,902 — — 13,902 Total liabilities $ 18,702 $ — $ — $ 18,702 Securities: U.S. Treasury securities $ 35,337 $ 35,337 $ — $ — Corporate bonds 6,105 — 6,105 — Total assets $ 41,442 $ 35,337 $ 6,105 $ — Balance as of December 31, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) CVR liability (Note L) $ 7,262 $ — $ — $ 7,262 Warrant liabilities 16,100 — — 16,100 Total liabilities $ 23,362 $ — $ — $ 23,362 Securities: U.S. Treasury securities $ 24,688 $ 24,688 $ — $ — Total assets $ 24,688 $ 24,688 $ — $ — The com mon stock warrant li l as of September 30, 2024 , and December 31, 2023 September 30, 2024 December 31, 2023 Risk-free interest rate 3.51% - 3.81 % 3.76% - 4.12 % Volatility 61.76% - 82.44 % 62.01% - 92.42 % Dividend yield 0 % 0 % Expected term (years) 1.27 - 4.14 2.0 - 4.9 Weighted average fair value $ 2.54 $ 2.94 The following table is a reconciliation for the common stock warrant liabilities measured at fair val ue using Level 3 Balance as of December 31, 2023 $ 16,100 Change in fair value measurement (2,198 ) Balance as of September 30, 2024 $ 13,902 For the nine September 30, 2024 , and 2023 , the ch

Note J - Net Loss Per Share

Note J - Net Loss Per Share	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	J. Net Loss Per Share For all periods presented herein, the Company did not two not two Under the two No no two two two As noted above, for all periods presented herein, the Company did not two no The following securities, presented on a common stock equivalent basis, have been excluded from the calculation of weighted average number of shares of common stock outstanding because their effect is anti-dilutive: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Awards under equity incentive plans 8,987,997 7,262,039 8,987,997 7,262,039 Common stock warrants 5,483,537 4,252,490 5,483,537 4,252,490 Total securities excluded from the calculation of weighted average number of shares of common stock outstanding 14,471,534 11,514,529 14,471,534 11,514,529 A reconciliation from net loss to basic and diluted net loss per share of common stock for t he three nine September 30, 2024 , and 2023 , is a Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Basic and diluted net loss per share of common stock: Net loss, basic and diluted $ (33,225 ) $ (10,367 ) $ (69,772 ) $ (26,157 ) Weighted average number of shares of common stock outstanding, basic and diluted 47,809 34,725 43,844 34,364 Basic and diluted net loss per share of common stock $ (0.69 ) $ (0.30 ) $ (1.59 ) $ (0.76 )

Note K - Leases

Note K - Leases	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Lease Disclosure [Text Block]	K. Leases The Company has operating and finance leases for office space, laboratory facilities and various laboratory equipment, furniture and office equipment and leasehold improvements. The Company determines if an arrangement is a lease at contract inception. Lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at the commencement date. The Company does not twelve 12 not Effective June 1, 2021, one two February 2026. The components of lease expense were as follows (in thousands): Three months ended September 30, Nine months ended September 30, Lease Cost 2024 2023 2024 2023 Finance lease cost: Amortization of right-of-use assets $ 12 $ 26 $ 36 $ 90 Interest on lease liabilities — — — — Total finance lease cost 12 26 36 90 Operating lease cost 119 113 330 340 Short-term lease cost 59 55 177 165 Variable lease cost 26 13 39 39 Less: sublease income (50 ) (39 ) (128 ) (117 ) Total lease costs $ 166 $ 168 $ 454 $ 517 Supplemental cash flow information related to leases was as follows (in thousands): Nine months ended September 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ — $ 5 Operating cash flows from operating leases 405 426 Operating cash flows from short-term leases 177 165 Operating cash flows from variable lease costs 39 39 Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ — $ — Operating leases 419 — Supplemental balance sheet information related to leases was as follows (in thousands, except weighted average remaining lease term and weighted average discount rate): September 30, December 31, 2024 2023 Finance Leases Property and equipment, at cost $ 1,031 $ 1,031 less: accumulated depreciation and amortization (917 ) (882 ) Property and equipment, net $ 114 $ 149 Other current liabilities $ — $ — Other long-term liabilities — — Total finance lease liabilities $ — $ — Operating Leases Operating lease right-of-use assets $ 820 $ 790 Total operating lease right-of-use assets $ 820 $ 790 Current portion of operating lease liabilities $ 540 $ 543 Operating lease liabilities, less current portion 483 456 Total operating lease liabilities $ 1,023 $ 999 Weighted Average Remaining Lease Term Operating leases (in years) 2 2 Weighted Average Discount Rate Finance leases 0.0 % 14.3 % Operating leases 9.6 % 7.6 % Maturities of lease liabilities were as follows (in thousands): Finance Operating Year Ending December 31, Leases Leases 2024 (excluding the nine months ended September 30, 2024) $ — $ 167 2025 — 536 2026 — 146 2027 — 136 2028 — 161 Thereafter — 49 Total lease payments — 1,195 Less: future interest expense — (172 ) Lease liabilities $ — $ 1,023

Note L - Merger

Note L - Merger	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	L. Merger On August 30, 2023, ● Bridge Loan October 31, 2023, ● Purchase of Acer s Term Loans March 14, 2022, January 31, 2023 1 2 3 ● Purchase of Acer s Convertible June 16, 2023. ● Amendment to IP License Agreement and IP Termination Agreement - March 19, 2021, first third In connection with the closing of the Merger on November 17, 2023, one one 2820 The assets acquired and liabilities assumed were recorded based on their acquisition date fair values. Consideration for the Merger was $72.6 million and consists of (i) approximately 2.96 million shares of Zevra common stock valued at $12.8 million, (ii) the Bridge Loan advances of $17.8 million, (iii) $12.0 million in cash paid to Nantahala; (iv) 2.27 million shares of Zevra Common Stock issued to Nantahala valued at $11.5 million based on the VWAP of shares of Zevra Common Stock during the 20 consecutive trading days ending on the trading date prior to August 30, 2023; ( uired and liabilities assumed: Assets Cash $ 575 Prepaid expenses 278 Other current assets 11 Inventory 9,376 Property, plant, and equipment 35 Other noncurrent assets 209 Approved product - OLPRUVA 68,000 IPR&D - celiprolol 2,000 Goodwill acquired 4,701 85,185 Liabilities Accounts payable and accrued expenses $ 10,881 Deferred collaboration funding 1,500 Operating lease liabilities 175 12,556 Fair Value of Net Assets Acquired $ 72,629 The preliminary fair values assigned to the tangible and intangible assets acquired and liabilities assumed were determined using an income approach based on management’s estimates and assumptions, as well as other information compiled by management, including third one may September 30, 2024, not not The results of operations and changes in stockholders' equity for Acer were included in the Company's consolidated financial statements beginning November 18, 2023. The following pro forma combined r January 1, 2023. not one not Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Pro forma revenue $ 3,267 $ 14,913 Pro forma net loss (25,900 ) (54,763 ) Cancellation of Acer Warrant On November 22, 2023, Contingent Consideration Contingent consideration liabilities relate to our liabilities arising in connection with the CVRs issued as a result of the Merger. The contingent consideration is classified as Level 3 The f ollowing table provides Balance at December 31, 2023 $ 7,262 Change in fair value recognized in earnings (2,462 ) Balance at September 30, 2024 $ 4,800 For the nine September 30, 2024 , the a $2.5 million gain on the changes in market data and revenue projections.

Note M - Goodwill & Intangible

Note M - Goodwill & Intangible Assets	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	M. Goodwill & Intangible Assets T he Company's goodwill balance was $4.7 million as of September 30, 2024 , and December 31, 2023 . As of September 30, 2024 , and December 31, 2023 , non-amortizable intangible assets include IPR&D of $2.0 million As of September 30, 2024 , and December 31, 2023 , the Company had a definite-lived intangible asset, net related to the acquisition of OLPRUVA as a result of the Merger of $62.6 million and $67.2 million, respectively. This is amortized on a straight-line basis over the OLPRUVA patent life of thirteen three nine September 30, 2024 . No amortization expense related to definite-lived intangible assets was recognized for the three nine September 30, 2023 . In accordance with its policy, the Company reviews the estimated useful lives of its intangible assets on an ongoing basis. This review indicated that based on recent facts and circumstances, including detailed analysis on sales experience and prospective product strategy, the actual life of the definite-lived intangible asset related to OLPRUVA was longer than the estimated useful life previously established at the acquisition of the asset. As a result, effective September 30, 2024, no three nine September 30, 2024. In connection with the XOMA License Agreement, the Company owed XOMA a royalty payment of $6.0 million upon approval of MIPLYFFA in September 2024, September 30, 2024. This definite-lived intangible asset is amortized on a straight-line basis over the MIPLYFFA patent life of approximately five three nine September 30, 2024 . No amortization expense related to definite-lived intangible assets was recognized for the three nine September 30, 2023 . For intangible assets subject to amortization, estimated amortization expense for the five September 30, 2024 , e $6.5

Note N - Subsequent Events

Note N - Subsequent Events	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	N. Subsequent Events The Company evaluated events and transactions occurring subsequent to September 30, 2024 , through November 13, 2024, there were no

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
ZVRA_ Timothy J. Sangiovanni [Member]
Trading Arrangements, by Individual
Trading Arrangement Adoption Date	October 15, 2024
Trading Arrangement, Individual Name	Timothy J. Sangiovanni
Trading Arrangement, Individual Title	Senior Vice President, Finance and Corporate Controller
Rule 10b5-1 Arrangement Adopted [Flag]	true
Rule 10b5-1 Arrangement Terminated [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	3,000
Trading Arrangement Termination Date	April 15, 2025
ZVRA_ Sven Guenther, Ph.D [Member]
Trading Arrangements, by Individual
Trading Arrangement Adoption Date	October 15, 2024
Trading Arrangement, Individual Name	Sven Guenther, Ph.D.
Trading Arrangement, Individual Title	Chief Scientific Officer
Rule 10b5-1 Arrangement Adopted [Flag]	true
Rule 10b5-1 Arrangement Terminated [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	8,000
Trading Arrangement Termination Date	April 15, 2025
ZVRA_ Joshua Schafer [Member]
Trading Arrangements, by Individual
Trading Arrangement Adoption Date	October 15, 2024
Trading Arrangement, Individual Name	Joshua Schafer
Trading Arrangement, Individual Title	Chief Commercial Officer & Executive Vice President, Business Development
Rule 10b5-1 Arrangement Adopted [Flag]	true
Rule 10b5-1 Arrangement Terminated [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	10,500
Trading Arrangement Termination Date	April 15, 2025
ZVRA_Christal M.M. Mickle [Member]
Trading Arrangements, by Individual
Trading Arrangement Adoption Date	October 15, 2024
Trading Arrangement, Individual Name	Christal M.M. Mickle
Trading Arrangement, Individual Title	Chief Development Officer
Rule 10b5-1 Arrangement Adopted [Flag]	true
Rule 10b5-1 Arrangement Terminated [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	6,300
Trading Arrangement Termination Date	April 15, 2025
ZVRA_R. LaDuane Clifton [Member]
Trading Arrangements, by Individual
Trading Arrangement Adoption Date	October 15, 2024
Trading Arrangement, Individual Name	R. LaDuane Clifton
Trading Arrangement, Individual Title	Chief Financial Officer and Treasurer
Rule 10b5-1 Arrangement Adopted [Flag]	true
Rule 10b5-1 Arrangement Terminated [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	11,000
Trading Arrangement Termination Date	April 15, 2025
ZVRA_ Neil F. McFarlane [Member]
Trading Arrangements, by Individual
Trading Arrangement Adoption Date	October 15, 2024
Trading Arrangement, Individual Name	Neil F. McFarlane
Trading Arrangement, Individual Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted [Flag]	true
Rule 10b5-1 Arrangement Terminated [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	91,817
Trading Arrangement Termination Date	April 15, 2025

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives of property and equipment, the recoverability of long-lived assets, the incremental borrowing rate for leases, and assumptions used for purposes of determining stock-based compensation, income taxes, the fair value of investments and the fair value of the warrant liabilities, contingent value right ("CVR") liabilities and discount and rebate liabilities, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities.
Investment, Policy [Policy Text Block]	Investments The Company maintains investment securities that are classified as available-for-sale securities for which the Company has elected the fair value option under Accounting Standards Codification ("ASC") 825, Financial Instruments 825" . Treasury securities and one five September 30, 2024, December 31, 2023, m $0.1 mi Interest income is recognized as earned using an effective yield method giving effect to the amortization of premium and accretion of discount and is based on t
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Variable Interest Entities The primary beneficiary of a variable interest entity ("VIE") is required to consolidate the assets and liabilities of the VIE. When the Company obtains a variable interest in another entity, it assesses at the inception of the relationship and upon occurrence of certain significant events whether the entity is a VIE, and if so, whether the Company is the primary beneficiary of the VIE based on its power to direct the activities of the VIE that most significantly impact the VIE's economic performance and the Company's obligation to absorb losses or the rights to receive benefits from the VIE that could potentially be significant to the VIE. To assess whether the Company has the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, the Company considers all the facts and circumstances, including the Company's role in establishing the VIE and the Company's ongoing rights and responsibilities. The assessment includes identifying the activities that most significantly impact the VIE's economic performance and identifying which party, if any, has the power to direct those activities. In general, the parties that make the most significant decisions affecting the VIE (management and representation on the Board of Directors) are deemed to have the power to direct the activities of a VIE. To assess whether the Company has the obligation to absorb losses of the VIE or the rights to receive benefits from the VIE that could potentially be significant to the VIE, the Company considers all of its economic interests that are deemed to be variable interests in the VIE. This assessment requires judgement in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. As of September 30, 2024, December 31, 2023,
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition The Company recognizes revenue in accordance with the provisions of ASC 606, Revenue from Contracts with Customers 606” five 1 2 3 4 5 Licensing Agreements The terms of the Company’s licensing agreements typically include one may As part of the accounting for these agreements, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. Generally, the estimation of the stand-alone selling price may Up-front Fees: Milestone Payments: not not not may Product Revenues, Net Net revenues from product sales is recognized at the transaction price when the customer obtains control of the Company's products, which occurs at a point in time, typically upon receipt of the product by the customer. Our current single customer is a specialty pharmacy provider. The Company's net revenues represent total revenues adjusted for discounts and allowances, including estimated cash discounts, chargebacks, rebates, returns, copay assistance, data fees and wholesaler fees for services. These adjustments represent variable consideration under ASC 606
Research and Development Expense, Policy [Policy Text Block]	Acquired IPR&D and Milestones Expenses In an asset acquisition, payments incurred prior to regulatory approval to acquire rights to in-process R&D projects are expensed as acquired IPR&D and milestones expense in the consolidated statements of earnings unless the project has an alternative future use. These costs include upfront and development milestone payments related to R&D collaborations, licensing arrangements, or other asset acquisitions that provide rights to develop, manufacture and/or sell pharmaceutical products. Where contingent development milestone payments are due to third third
Inventory, Policy [Policy Text Block]	Inventories The value of inventory is recorded at its net realizable value. The Company determines the cost of its other inventories, which includes amounts related to materials and manufacturing overhead, on a first first The Company may may not may not September 30, 2024, December 31, 2023, not The Company performs an assessment of the recoverability of capitalized inventory during each reporting period and writes down any excess and obsolete inventory to its net realizable value in the period in which the impairment is first may not three nine September 30, 2024, imately $2.0 m illion and $5.2 million, respectively, related to write-downs for unsaleable inventory. No such write downs were recognized for the three nine September 30, 2023.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency Assets and liabilities are translated into the reporting currency using the exchange rates in effect on the unaudited condensed consolidated balance sheet dates. Equity accounts are translated at historical rates, except for the change in accumulated deficit during the year, which is the result of the income statement translation process. Revenue and expense accounts are translated using the weighted average exchange rate during the period. The cumulative translation adjustments associated with the net assets of foreign subsidiaries are recorded in accumulated other comprehensive income/loss in the accompanying unaudited condensed consolidated statements of stockholders’ equity.
Debt, Policy [Policy Text Block]	Debt Issuance Costs Debt issuance costs incurred in connection with financing arrangements are recorded as a reduction of the related debt on the balance sheet and amortized over the life of the respective financing arrangement using the effective interest method.
Warrants [Policy Text Block]	Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC Topic 480, Distinguishing Liabilities from Equity 480" 815, Derivatives and Hedging 815" 480, 480, 815, For warrants that meet all criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital, on the unaudited condensed consolidated statement of stockholders’ deficit at the time of issuance. For warrants that do not
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements Not Segment Reporting (Topic 280 In November 2023, No. 2023 07, Segment Reporting (Topic 280 Improvements to Reportable Segment Disclosures December 15, 2023, December 15, 2024. Income Taxes (Topic 740 In December 2023, No. 2023 09, Income Taxes (Topic 740 December 15, 2024.

Note C - Inventories (Tables)

Note C - Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Inventory, Noncurrent [Table Text Block]	September 30, December 31, 2024 2023 Raw materials $ 4,549 $ 2,938 Work in progress 3,084 1,884 Finished goods 1,123 5,019 Total inventory $ 8,756 $ 9,841

Note D - Debt Obligations (Tabl

Note D - Debt Obligations (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	September 30, December 31, 2024 2023 Notes payable $ 61,035 $ — Secured promissory note — 5,000 Unamortized original issue (discount) premium (959 ) 148 Less: debt issuance costs (1,172 ) (82 ) $ 58,904 $ 5,066
Schedule of Maturities of Long-Term Debt [Table Text Block]	Year Ending December 31, 2024 (excluding the nine months ending September 30, 2024) $ — 2025 — 2026 — 2027 — 2028 — Thereafter 60,919 Total minimum payments 60,919 Less: unamortized debt discount, debt issuance costs and paid in kind interest (2,015 ) Note payable $ 58,904

Note G - Stock and Warrants (Ta

Note G - Stock and Warrants (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Authorized Shares of Common Stock Reserved for Future Issuance [Table Text Block]	September 30, 2024 December 31, 2023 Outstanding awards under equity incentive plans 8,987,997 8,023,142 Outstanding common stock warrants 5,483,537 5,603,729 Possible future issuances under equity incentive plans 4,536,410 1,728,885 Possible future issuances under employee stock purchase plans 1,242,425 1,340,172 Total common shares reserved for future issuance 20,250,369 16,695,928
Schedule of Common Stock Outstanding Roll Forward [Table Text Block]	Shares of Common Stock Balance as of January 1, 2024 41,534,668 Common stock issued as compensation to third parties 9,000 Common stock issued as a result of stock options exercised 306,826 Balance as of March 31, 2024 41,850,494 Common stock issued as a result of the Employee Stock Purchase Plan 97,747 Common stock issued as compensation to third parties 41,820 Common stock issued as a result of stock options exercised 1,403 Balance as of June 30, 2024 41,991,464 Common stock issued as compensation to third parties 32,820 Common stock issued in connection with the Public Offering (Note B) 10,615,385 Common stock issued as a result of stock options exercised 39,750 Common stock issued in connection with vesting of performance-based awards 547,945 Balance as of September 30, 2024 53,227,364

Note H - Stock-based Compensa_2

Note H - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Research and development $ 1,441 $ 720 $ 3,322 $ 2,023 Selling, general and administrative 4,696 667 7,566 1,058 Total stock-based compensation expense $ 6,137 $ 1,387 $ 10,888 $ 3,081

Note I - Fair Value of Financ_2

Note I - Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Balance as of September 30, 2024 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) CVR liability (Note L) $ 4,800 $ — $ — $ 4,800 Warrant liabilities 13,902 — — 13,902 Total liabilities $ 18,702 $ — $ — $ 18,702 Securities: U.S. Treasury securities $ 35,337 $ 35,337 $ — $ — Corporate bonds 6,105 — 6,105 — Total assets $ 41,442 $ 35,337 $ 6,105 $ — Balance as of December 31, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) CVR liability (Note L) $ 7,262 $ — $ — $ 7,262 Warrant liabilities 16,100 — — 16,100 Total liabilities $ 23,362 $ — $ — $ 23,362 Securities: U.S. Treasury securities $ 24,688 $ 24,688 $ — $ — Total assets $ 24,688 $ 24,688 $ — $ —
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	September 30, 2024 December 31, 2023 Risk-free interest rate 3.51% - 3.81 % 3.76% - 4.12 % Volatility 61.76% - 82.44 % 62.01% - 92.42 % Dividend yield 0 % 0 % Expected term (years) 1.27 - 4.14 2.0 - 4.9 Weighted average fair value $ 2.54 $ 2.94
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Balance as of December 31, 2023 $ 16,100 Change in fair value measurement (2,198 ) Balance as of September 30, 2024 $ 13,902

Note J - Net Loss Per Share (Ta

Note J - Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Awards under equity incentive plans 8,987,997 7,262,039 8,987,997 7,262,039 Common stock warrants 5,483,537 4,252,490 5,483,537 4,252,490 Total securities excluded from the calculation of weighted average number of shares of common stock outstanding 14,471,534 11,514,529 14,471,534 11,514,529
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Basic and diluted net loss per share of common stock: Net loss, basic and diluted $ (33,225 ) $ (10,367 ) $ (69,772 ) $ (26,157 ) Weighted average number of shares of common stock outstanding, basic and diluted 47,809 34,725 43,844 34,364 Basic and diluted net loss per share of common stock $ (0.69 ) $ (0.30 ) $ (1.59 ) $ (0.76 )

Note K - Leases (Tables)

Note K - Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three months ended September 30, Nine months ended September 30, Lease Cost 2024 2023 2024 2023 Finance lease cost: Amortization of right-of-use assets $ 12 $ 26 $ 36 $ 90 Interest on lease liabilities — — — — Total finance lease cost 12 26 36 90 Operating lease cost 119 113 330 340 Short-term lease cost 59 55 177 165 Variable lease cost 26 13 39 39 Less: sublease income (50 ) (39 ) (128 ) (117 ) Total lease costs $ 166 $ 168 $ 454 $ 517
Schedule of Leases Cash Flow Information [Table Text Block]	Nine months ended September 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ — $ 5 Operating cash flows from operating leases 405 426 Operating cash flows from short-term leases 177 165 Operating cash flows from variable lease costs 39 39 Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ — $ — Operating leases 419 —
Schedule of Leases Balance Sheet Information [Table Text Block]	September 30, December 31, 2024 2023 Finance Leases Property and equipment, at cost $ 1,031 $ 1,031 less: accumulated depreciation and amortization (917 ) (882 ) Property and equipment, net $ 114 $ 149 Other current liabilities $ — $ — Other long-term liabilities — — Total finance lease liabilities $ — $ — Operating Leases Operating lease right-of-use assets $ 820 $ 790 Total operating lease right-of-use assets $ 820 $ 790 Current portion of operating lease liabilities $ 540 $ 543 Operating lease liabilities, less current portion 483 456 Total operating lease liabilities $ 1,023 $ 999 Weighted Average Remaining Lease Term Operating leases (in years) 2 2 Weighted Average Discount Rate Finance leases 0.0 % 14.3 % Operating leases 9.6 % 7.6 %
Operating and Finance Lease, Liability, Maturity [Table Text Block]	Finance Operating Year Ending December 31, Leases Leases 2024 (excluding the nine months ended September 30, 2024) $ — $ 167 2025 — 536 2026 — 146 2027 — 136 2028 — 161 Thereafter — 49 Total lease payments — 1,195 Less: future interest expense — (172 ) Lease liabilities $ — $ 1,023

Note L - Merger (Tables)

Note L - Merger (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Assets Cash $ 575 Prepaid expenses 278 Other current assets 11 Inventory 9,376 Property, plant, and equipment 35 Other noncurrent assets 209 Approved product - OLPRUVA 68,000 IPR&D - celiprolol 2,000 Goodwill acquired 4,701 85,185 Liabilities Accounts payable and accrued expenses $ 10,881 Deferred collaboration funding 1,500 Operating lease liabilities 175 12,556 Fair Value of Net Assets Acquired $ 72,629
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Pro forma revenue $ 3,267 $ 14,913 Pro forma net loss (25,900 ) (54,763 )
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Balance at December 31, 2023 $ 7,262 Change in fair value recognized in earnings (2,462 ) Balance at September 30, 2024 $ 4,800

Note A - Description of Busin_2

Note A - Description of Business, Basis of Presentation and Significant Transactions (Details Textual) - USD ($) $ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

Aug. 12, 2024

Aug. 08, 2024

Jul. 11, 2024

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Sep. 30, 2024

Sep. 30, 2023

Jul. 12, 2024

Jun. 04, 2024

Feb. 05, 2024

Dec. 31, 2023

Oct. 31, 2023

Aug. 30, 2023

Dec. 20, 2021

Jul. 02, 2021

Net Income (Loss) Attributable to Parent

$ (33,225)

$ (19,925)

$ (16,622)

$ (10,367)

$ (2,573)

$ (13,217)

$ (69,772)

$ (26,157)

Retained Earnings (Accumulated Deficit)

$ (469,550)

$ (469,550)

$ (399,778)

Common Stock Registered, Shares (in shares)

2,269,721

Common Stock Registered, Maximum Offering Price

$ 350,000

Stock Issued During Period, Shares, New Issues (in shares)

10,615,385

Stock Repurchase Program, Authorized Amount

$ 50,000

Share Repurchase Program [Member]

Treasury Stock, Common, Shares (in shares)

1,575,692

Treasury Stock, Common, Value

$ 11,000

ATM Agreement Sales [Member]

Common Stock Registered, Maximum Offering Price

$ 75,000

ATM Agreement Sales [Member] | JMP [Member]

Stock Issued During Period, Shares, New Issues (in shares)

0

Equity Distribution Agreement, Maximum Aggregate Offering Price

$ 75,000

Equity Distribution Agreement, Commission Fee, Percentage of Gross Sales

3%

ATM Agreement Sales [Member] | JMP and RBCCM [Member]

Stock Issued During Period, Shares, New Issues (in shares)

0

Equity Distribution Agreement, Maximum Aggregate Offering Price

$ 75,000

Equity Distribution Agreement, Commission Fee, Percentage of Gross Sales

3%

Underwriting Agreement [Member]

Stock Issued During Period, Shares, New Issues (in shares)

9,230,770

Shares Issued, Price Per Share (in dollars per share)

$ 6.5

Over-Allotment Option [Member] | Maximum [Member]

Stock Issuable During the Period (in shares)

1,384,615

Underwriting Agreement and Over-allotment Option [Member]

Stock Issued During Period, Shares, New Issues (in shares)

10,615,385

Proceeds from Issuance of Common Stock, Net

$ 64,500

Bridge Loan [Member]

Financing Receivable, Maximum Limit

$ 18,000

$ 18,000

Note B - Summary of Significa_2

Note B - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Investments, Fair Value Disclosure	$ 41,400		$ 41,400		$ 24,700
Unrealized Gain (Loss) on Investments			100		600
Inventory Write-down	2,000	$ 0	5,244	$ 0
Pre-launch Inventory that Qualified for Capitalization [Member]
Inventory, Net	$ 0		$ 0		$ 0

Note C - Inventories - Summary

Note C - Inventories - Summary of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Raw materials	$ 4,549	$ 2,938
Work in progress	3,084	1,884
Finished goods	1,123	5,019
Total inventory	$ 8,756	$ 9,841

Note D - Debt Obligations (Deta

Note D - Debt Obligations (Details Textual) - USD ($) $ in Thousands					1 Months Ended	9 Months Ended
	Apr. 05, 2024	Aug. 30, 2023	Jan. 31, 2023	Jan. 26, 2023	Nov. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 01, 2024	Dec. 31, 2023	Nov. 17, 2023
Stock Issued During Period, Shares, Acquisitions (in shares)					1,382,489
Proceeds from Issuance of Debt						$ 58,990	$ 38,801
Debt Issuance Costs, Net						1,172			$ 82
Wells Fargo Bank, N.A. [Member]
Long-Term Line of Credit									$ 37,700
Wells Fargo Bank, N.A. [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate				2.25%
Wells Fargo Bank, N.A. [Member] | Minimum [Member]
Line of Credit Facility, Maximum Borrowing Capacity, Percentage of Investments				80%
Wells Fargo Bank, N.A. [Member] | Maximum [Member]
Line of Credit Facility, Maximum Borrowing Capacity, Percentage of Investments				90%
SWK Loans [Member]
Payments to Acquire Notes Receivable		$ 12,000	$ 12,000
Stock Issued During Period, Shares, Acquisitions (in shares)		98,683	98,683
Nantahala Note [Member]
Debt Instrument, Face Amount		$ 5,000	$ 5,000							$ 5,000
Debt Instrument, Interest Rate, Stated Percentage		9%
Debt Instrument, Interest Rate, Stated Percentage, If Unpaid Within Six Months		12%
Debt Instrument, Interest Rate, Increase in Stated Percentage, If Unpaid Within Six Months		3%						3%
Debt Instrument, Interest, Shares, Consecutive Trading Days For Calculation of VWAP (Day)		20 days
Debt Instrument, Periodic Payment, Interest		$ 600
Term Loans Under Credit Agreement [Member
Debt Instrument, Face Amount	$ 100,000
Proceeds from Issuance of Debt	60,000
Debt Instrument, Available Amount Until 18 Months Following Closing Date	20,000
Debt Instrument, Available Amount Until 18 Months Following Closing Date, Maximum Each Drawing	10,000
Debt Instrument, Available Amount Until December 31, 2024	20,000
Debt Instrument, Net Product Sales Performance Benchmark	100,000
Debt Instrument, Net Product Sales Performance Benchmark in Next Year	$ 125,000
Debt Instrument, Maximum Interest Payment, Percentage	25%
Interest Payable						900
Debt Issuance Costs, Net						2,200
Debt Instrument, Minimum Cash Balance						$ 20,000
Term Loans Under Credit Agreement [Member | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate	7%
Debt Instrument, Basis Spread on Variable Rate When Performance Benchmark Meet	6%
Debt Instrument, Basis Spread on Variable Rate When Performance Benchmark Meet in Next Year	6.50%
Debt Instrument, Floor Rate	4%

Note D - Debt Obligations - Agg

Note D - Debt Obligations - Aggregate Principal Amount (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Unamortized original issue (discount) premium	$ (959)	$ 148
Less: debt issuance costs	(1,172)	(82)
Notes Payable	58,904	5,066
Notes Payable Excluding Secured Promissory Note [Member]
Notes payable	61,035	0
Nantahala Note [Member]
Notes payable	$ 0	$ 5,000

Note D - Debt Obligations - Fut

Note D - Debt Obligations - Future Minimum Principal Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Note payable	$ 58,904	$ 5,066
Term Loans Under Credit Agreement [Member
2024 (excluding the nine months ending September 30, 2024)	0
2025	0
2026	0
2027	0
2028	0
Thereafter	60,919
Total minimum payments	60,919
Less: unamortized debt discount, debt issuance costs and paid in kind interest	(2,015)
Note payable	$ 58,904

Note E - Revenue, Net (Details

Note E - Revenue, Net (Details Textual) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 20, 2012	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	May 07, 2021
Accounts Receivable, Allowance for Credit Loss			$ 0		$ 0		$ 0
Arimoclomol Purchase Agreement [Member]
Contract with Customer, Liability, Revenue Recognized			2,600	$ 2,000	8,000	$ 7,100
Contract with Customer, Clawback Liability			1,400	1,100	4,400	4,000
Asset Acquisition, Consideration Transferred, Estimated Reserve Liability					17,000		12,200
XOMA License Agreement [Member]
Accrued Royalties			6,000		6,000
Consulting Services [Member]
Accounts Receivable, after Allowance for Credit Loss, Current			2,300		2,300		1,300
Commave Therapeutics SA [Member] | License [Member] | AZSTARYS License Agreement [Member]
Revenue Recognition, Milestone Method, Additional Revenue to be Recognized								$ 590,000
Relief Therapeutics [Member] | License [Member]
Contract with Customer, Liability, Revenue Recognized			0		0
Contract with Customer, Liability			0		$ 0		0
Royalty Revenue, Percent					10%
Aquestive Therapeutics [Member] | License [Member] | AZSTARYS License Agreement [Member]
Contract with Customer, Liability, Revenue Recognized		$ 5,000	1,100	$ 900	$ 3,600	$ 7,200
Royalty Revenue, Percent	10%
Accounts Receivable, after Allowance for Credit Loss, Current			1,100		1,100		11,400
Arimoclomol EAP [Member]
Accounts Receivable, after Allowance for Credit Loss, Current			$ 4,400		$ 4,400		$ 4,700

Note F - Commitments and Cont_2

Note F - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Loss Contingency Accrual		$ 0	$ 0
Litigation Related to Merger [Member]
Payments for Legal Settlements	$ 300
AZSTARYS License Agreement [Member]
Loss Contingency Accrual			$ 0

Note G - Stock and Warrants (De

Note G - Stock and Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	2 Months Ended	3 Months Ended		9 Months Ended
	Nov. 22, 2023	Nov. 30, 2023	Dec. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Mar. 31, 2024
Common Stock, Shares Authorized (in shares)			250,000,000	250,000,000		250,000,000
Common Stock, Shares, Issued (in shares)			43,110,360	54,803,056		54,803,056
Common Stock, Shares, Outstanding (in shares)			41,534,668	53,227,364		53,227,364		41,991,464	41,850,494
Preferred Stock, Shares Authorized (in shares)			10,000,000	10,000,000		10,000,000
Class of Warrant or Right, Outstanding (in shares)				5,483,537		5,483,537
Stock Issued During Period, Shares, Acquisitions (in shares)		1,382,489
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Stock Issued During Period, Shares, New Issues (in shares)				10,615,385
Derivative and Warrant Liability, Noncurrent			$ 16,100	$ 13,902		$ 13,902
Fair Value Adjustment of Put Option, Net of Tax				$ 6,000	$ 3,700	$ 2,200	$ 4,300
Acer Warrants [Member]
Proceeds from Warrant Exercises		$ 6,000
Class of Warrants or Right, Exercised During Period (in shares)			0			0
Acer Warrants [Member] | Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		1,382,489
Shares and Warrants Issued, Price Per Share (in dollars per share)		$ 4.34
The Investor Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	2,920,306	2,920,306
Stock Issued During Period, Shares, New Issues (in shares)	917,934	917,934

Note G - Stock and Warrants - R

Note G - Stock and Warrants - Reserved Authorized Shares of Common Stock for Future Issuance (Details) - shares	Sep. 30, 2024	Dec. 31, 2023
Common shares reserved for future issuance (in shares)	20,250,369	16,695,928
Warrant [Member]
Common shares reserved for future issuance (in shares)	5,483,537	5,603,729
Share-Based Payment Arrangement [Member]
Common shares reserved for future issuance (in shares)	8,987,997	8,023,142
Possible Future Issuances Under Equity Incentive Plans [Member]
Common shares reserved for future issuance (in shares)	4,536,410	1,728,885
Possible Future Issuances Under Employee Stock Purchase Plans [Member]
Common shares reserved for future issuance (in shares)	1,242,425	1,340,172

Note G - Stock and Warrants - C

Note G - Stock and Warrants - Common Stock Activity (Details) - shares	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024
Balance (in shares)	41,991,464	41,850,494	41,534,668	41,534,668
Common stock issued as compensation to third parties (in shares)	32,820	41,820	9,000
Common stock issued as a result of stock options exercised (in shares)	39,750	1,403	306,826
Common stock issued as a result of the Employee Stock Purchase Plan (in shares)		97,747		257,575
Common stock issued as compensation to third parties (in shares)	32,820	41,820	9,000
Common stock issued in connection with the Public Offering (Note B) (in shares)	10,615,385
Common stock issued in connection with vesting of performance-based awards (in shares)	547,945
Balance (in shares)	53,227,364	41,991,464	41,850,494	53,227,364

Note H - Stock-based Compensa_3

Note H - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended				9 Months Ended
	Jan. 01, 2024	Jun. 30, 2021	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Feb. 29, 2024	Jan. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)			39,750	1,403	306,826
Employee Stock Purchase Plan, Maximum Number of Issuable Shares (in shares)		1,500,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)				97,747			257,575
Share-Based Payment Arrangement, Expense			$ 6,137			$ 1,387	$ 10,888	$ 3,081
Performance Shares [Member]
Share-Based Payment Arrangement, Expense			$ 2,500				$ 2,500	$ 0
2014 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)		4,900,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)			9,932,883				9,932,883
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Reserved for Issuance, Incremental Percentage of Capital Stock Outstanding		4%
Increase in Common Stock Reserved for Issuance (in shares)	1,661,386
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)			27,750			0	761,500	0
The 2023 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)									4,500,000	1,500,000

Note H - Stock-based Compensa_4

Note H - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock based compensation expense	$ 6,137	$ 1,387	$ 10,888	$ 3,081
Research and Development Expense [Member]
Stock based compensation expense	1,441	720	3,322	2,023
General and Administrative Expense [Member]
Stock based compensation expense	$ 4,696	$ 667	$ 7,566	$ 1,058

Note I - Fair Value of Financ_3

Note I - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Total liabilities	$ 18,702	$ 23,362
Total assets	41,442	24,688
US Treasury Securities [Member]
Total assets	35,337	24,688
Corporate Bond Securities [Member]
Total assets	6,105
Fair Value, Inputs, Level 1 [Member]
Total liabilities	0	0
Total assets	35,337	24,688
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member]
Total assets	35,337	24,688
Fair Value, Inputs, Level 1 [Member] | Corporate Bond Securities [Member]
Total assets	0
Fair Value, Inputs, Level 2 [Member]
Total liabilities	0	0
Total assets	6,105	0
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member]
Total assets	0	0
Fair Value, Inputs, Level 2 [Member] | Corporate Bond Securities [Member]
Total assets	6,105
Fair Value, Inputs, Level 3 [Member]
Total liabilities	18,702	23,362
Total assets	0	0
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member]
Total assets	0	0
Fair Value, Inputs, Level 3 [Member] | Corporate Bond Securities [Member]
Total assets	0
CVR Liability [Member]
Total liabilities	4,800	7,262
CVR Liability [Member] | Fair Value, Inputs, Level 1 [Member]
Total liabilities	0	0
CVR Liability [Member] | Fair Value, Inputs, Level 2 [Member]
Total liabilities	0	0
CVR Liability [Member] | Fair Value, Inputs, Level 3 [Member]
Total liabilities	4,800	7,262
Warrants [Member]
Total liabilities	13,902	16,100
Warrants [Member] | Fair Value, Inputs, Level 1 [Member]
Total liabilities	0	0
Warrants [Member] | Fair Value, Inputs, Level 2 [Member]
Total liabilities	0	0
Warrants [Member] | Fair Value, Inputs, Level 3 [Member]
Total liabilities	$ 13,902	$ 16,100

Note I - Fair Value of Financ_4

Note I - Fair Value of Financial Instruments - Fair Value Assumptions for Warrant Liabilities (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024 $ / shares	Dec. 31, 2023 $ / shares
Weighted average fair value (in dollars per share)	$ 2.54	$ 2.94
Measurement Input, Expected Dividend Rate [Member]
Risk-free interest rate	0	0
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Risk-free interest rate	0.0351	0.0376
Minimum [Member] | Measurement Input, Price Volatility [Member]
Risk-free interest rate	0.6176	0.6201
Minimum [Member] | Measurement Input, Expected Term [Member]
Risk-free interest rate	1.27	2
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Risk-free interest rate	0.0381	0.0412
Maximum [Member] | Measurement Input, Price Volatility [Member]
Risk-free interest rate	0.8244	0.9242
Maximum [Member] | Measurement Input, Expected Term [Member]
Risk-free interest rate	4.14	4.9

Note I - Fair Value of Financ_5

Note I - Fair Value of Financial Instruments - Reconciliation of Beginning and Ending Balances for Derivative and Warrant Liability Measured at Fair Value on Recurring Basis (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Balance	$ 16,100
Change in fair value measurement	(2,198)
Balance	$ 13,902

Note J - Net Loss Per Share - A

Note J - Net Loss Per Share - Anti-dilutive Securities (Details) - shares	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Sep. 30, 2023
Antidilutive securities (in shares)	14,471,534	11,514,529	14,471,534	11,514,529
Share-Based Payment Arrangement [Member]
Antidilutive securities (in shares)	8,987,997	7,262,039	8,987,997	7,262,039
Warrants to Purchase Common Stock [Member]
Antidilutive securities (in shares)	5,483,537	4,252,490	5,483,537	4,252,490

Note J - Net Loss Per Share - E

Note J - Net Loss Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Income (Loss) Attributable to Parent	$ (33,225)	$ (19,925)	$ (16,622)	$ (10,367)	$ (2,573)	$ (13,217)	$ (69,772)	$ (26,157)
Weighted average number of shares of common stock outstanding, basic and diluted (in shares)	47,808,817			34,724,614			43,843,851	34,364,075
Basic and diluted net loss per share of common stock (in dollars per share)	$ (0.69)			$ (0.3)			$ (1.59)	$ (0.76)

Note K - Leases (Details Textua

Note K - Leases (Details Textual)	9 Months Ended
	Sep. 30, 2024
Lessee, Lease, Option to Extend, Maximum Term (Year)	5 years
Lessee, Lease, Option to Terminate, Term (Year)	1 year
Minimum [Member]
Lessee, Lease, Remaining Term of Contract (Year)	1 year
Maximum [Member]
Lessee, Lease, Remaining Term of Contract (Year)	3 years

Note K - Leases - Lease Cost (D

Note K - Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amortization of right-of-use assets	$ 12	$ 26	$ 36	$ 90
Interest on lease liabilities	0	0	0	0
Total finance lease cost	12	26	36	90
Operating lease cost	119	113	330	340
Short-term lease cost	59	55	177	165
Variable lease cost	26	13	39	39
Less: sublease income	(50)	(39)	(128)	(117)
Total lease costs	$ 166	$ 168	$ 454	$ 517

Note K - Leases - Supplement Ca

Note K - Leases - Supplement Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Financing cash flows from finance leases	$ 0	$ 5
Operating cash flows from operating leases	405	426
Operating cash flows from short-term leases	177	165
Operating cash flows from variable lease costs	39	39
Finance leases	0	0
Operating leases	$ 419	$ 0

Note K - Leases - Supplement Ba

Note K - Leases - Supplement Balance Sheet Information Related to Lease (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property and equipment, net	$ 114	$ 149
Other current liabilities	0	0
Other long-term liabilities	0	0
Lease liabilities, finance leases	0	0
Operating lease right-of-use assets	820	790
Total operating lease right-of-use assets	820	790
Current portion of operating lease liabilities	540	543
Operating lease liabilities, less current portion	483	456
Total operating lease liabilities	$ 1,023	$ 999
Operating leases (in years) (Year)	2 years	2 years
Finance leases	0%	14.30%
Operating leases	9.60%	7.60%
Property and Equipment, At Cost [Member]
Property and equipment, at cost	$ 1,031	$ 1,031
Accumulated Depreciation and Amortization [Member]
less: accumulated depreciation and amortization	$ (917)	$ (882)

Note K - Leases - Maturities of

Note K - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
2024 (excluding the three months ended March 31, 2024), finance leases	$ 0
2024 (excluding the three months ended March 31, 2024), operating leases	167
2025, finance leases	0
2025, operating leases	536
2026, finance leases	0
2026, operating leases	146
2027, finance leases	0
2027, operating leases	136
2028, finance leases	0
2028, operating leases	161
Thereafter, finance leases	0
Thereafter, operating leases	49
Total lease payments, finance leases	0
Total lease payments, operating leases	1,195
Less: future interest expense, finance leases	0
Less: future interest expense, operating leases	(172)
Lease liabilities, finance leases	0	$ 0
Lease liabilities, operating leases	$ 1,023	$ 999

Note L - Merger (Details Textua

Note L - Merger (Details Textual) $ / shares in Units, $ in Thousands							1 Months Ended	3 Months Ended	9 Months Ended
	Nov. 22, 2023 shares	Nov. 17, 2023 USD ($) $ / shares shares	Aug. 30, 2023 USD ($) shares	Jun. 16, 2023 USD ($) $ / shares shares	Jan. 31, 2023 USD ($) shares	Mar. 14, 2022 USD ($)	Nov. 30, 2023 shares	Sep. 30, 2024 USD ($) shares	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 31, 2023 USD ($)
Stock Issued During Period, Shares, Acquisitions (in shares) | shares							1,382,489
Stock Issued During Period, Shares, New Issues (in shares) | shares								10,615,385
Stock Issued During Period, Value, New Issues								$ 64,517
The Investor Warrant [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares	917,934						917,934
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares	2,920,306						2,920,306
SWK Loans [Member]
Payments to Acquire Notes Receivable			$ 12,000		$ 12,000
Stock Issued During Period, Shares, Acquisitions (in shares) | shares			98,683		98,683
Marathon Convertible Notes [Member]
Stock Issued During Period, Shares, Acquisitions (in shares) | shares				2,171,038
Asset Acquisition, Share Price (in dollars per share) | $ / shares				$ 5.0667
Asset Acquisition, Consideration Transferred				$ 11,000
SWK Loans and Marathon Notes [Member]
Payments to Acquire Notes Receivable		$ 12,000
Stock Issued During Period, Shares, Acquisitions (in shares) | shares		2,270,000
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable		$ 11,500
VWAP, Consecutive Trading Days (Year)		20 years
Nantahala Note [Member]
Debt Instrument, Face Amount		$ 5,000	$ 5,000		$ 5,000
Acer Therapeutics Inc [Member] | License Agreement and Termination Agreement [Member] | Relief [Member]
Maximum Royalty Percentage			20%
Upfront Payment			$ 10,000
Addiitonal Payment on First Anniversary			1,500
Maximum Royalty Obligation			$ 45,000
Acer Therapeutics Inc [Member] | License Agreement and Termination Agreement [Member] | Relief [Member] | Europe [Member]
Maximum Royalty Percentage			10%
Acer Therapeutics Inc [Member] | License Agreement and Termination Agreement [Member] | Relief [Member] | Worldwide, Excluding Europe [Member]
Maximum Royalty Percentage			10%
Acer Therapeutics Inc [Member] | SWK Loans [Member]
Proceeds from Issuance of Long-Term Debt					$ 7,000	$ 6,500
Maximum [Member] | Acer Therapeutics Inc [Member] | License Agreement and Termination Agreement [Member] | Relief [Member]
Contractual Obligation			$ 56,500
Bridge Loan [Member]
Financing Receivable, Maximum Limit			18,000								$ 18,000
Bridge Loan [Member] | Minimum [Member]
Financing Receivable, Maximum Limit			16,500
Acer Therapeutics Inc [Member]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Conversion Ratio		0.121
Business Acquisition, Share Price (in dollars per share) | $ / shares		$ 0.0001
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 76,000
Business Combination, Consideration Transferred		$ 72,600
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares		2,960,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 12,800
Business Combination, Contingent Consideration, Liability		8,500						$ 4,800	$ 4,800	$ 7,262
Repayments of Notes Payable		$ 1,000
Gain (Loss) on Contingent Consideration, Change in Fair Value									$ 2,500
Acer Therapeutics Inc [Member] | Acer Warrants [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares		900,000
Stock Issued During Period, Value, New Issues		$ 4,000
Acer Therapeutics Inc [Member] | Bridge Loan [Member]
Business Combination, Consideration Transferred, Other		$ 17,800	$ 16,500

Note L - Merger - Estimates and

Note L - Merger - Estimates and Assumptions Related to Fair Value of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Nov. 17, 2023
Cash			$ 575
Prepaid expenses			278
Other current assets			11
Inventory			9,376
Property, plant, and equipment			35
Other noncurrent assets			209
Approved product - OLPRUVA			68,000
?IPR&D - celiprolol			2,000
Goodwill acquired	$ 4,701	$ 4,701
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets			85,185
Accounts payable and accrued expenses			10,881
Deferred collaboration funding			1,500
Operating lease liabilities			175
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			12,556
Fair Value of Net Assets Acquired			72,629
Acer Therapeutics Inc [Member]
Goodwill acquired			$ 4,701

Note L - Merger - Pro Forma Com

Note L - Merger - Pro Forma Combined Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Pro forma revenue	$ 3,267	$ 14,913
Pro forma net loss	$ (25,900)	$ (54,763)

Note L - Merger - Reconciliatio

Note L - Merger - Reconciliation of Contingent Consideration Liabilities (Details) - Acer Therapeutics Inc [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Balance	$ 7,262
Change in fair value recognized in earnings	(2,462)
Balance	$ 4,800

Note M - Goodwill & Intangibl_2

Note M - Goodwill & Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill	$ 4,701			$ 4,701		$ 4,701
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 2,000			$ 2,000		$ 2,000
Finite-Lived Intangible Asset, Useful Life (Year)	13 years			13 years		11 years
Amortization of Intangible Assets	$ 1,545	$ 0		$ 4,619	$ 0
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	6,500			6,500
Finite-Lived Intangible Asset, Expected Amortization, Year One	6,500			6,500
Finite-Lived Intangible Asset, Expected Amortization, Year Two	6,500			6,500
Finite-Lived Intangible Asset, Expected Amortization, Year Three	6,500			6,500
Finite-Lived Intangible Asset, Expected Amortization, Year Four	6,500			6,500
XOMA License Agreement [Member]
Accrued Royalties	$ 6,000			$ 6,000
Patents [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	13 years			13 years
Patents [Member] | XOMA License Agreement [Member]
Amortization of Intangible Assets			$ 0		$ 0
OLPRUVA [Member]
Finite-Lived Intangible Assets, Net	$ 62,600			$ 62,600		$ 67,200