Centocor, Inc.

Highlights 54.8% Total Stockholder Return Under Refreshed Board and Management Team Zevra Continues Growth Trajectory into a Global Commercial Rare Disease Company with Consistent Execution, New Product Launches, and Significant Financial Flexibility to Execute Strategic Plan Urges Stockholders to Defend Board Independence from Majority Influence by Individual 2.8% Stockholder, Mangless, Who Had Three Nominees Elected to the Board in 2023 Mangless Has Not Detailed any Strategies, Plans, or New Ideas to Improve Zevra’s Business and Appears Solely Focused on Replacing Two Highly Qualified Directors Board and Management Urge Stockholders to Vote "FOR" Zevra’s Highly-Qualified and Experienced Director Nominees on the WHITE Proxy Card CELEBRATION, Fla., April 21, 2025 (GLOBE NEWSWIRE) -- Zevra Therapeutics, Inc. (NasdaqGS: ZVRA) (“Zevra”, or “the Company”), a commercial-stage company focused on providing therapies for people living with rare disease, today announced it has filed its definitive proxy statement with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the Company’s 2025 Annual Meeting of Stockholders (“Annual Meeting”), which is scheduled to take place on May 29, 2025. Stockholders of record as of April 4, 2025 will be entitled to vote at the Annual Meeting. Zevra’s Board of Directors strongly recommends that stockholders vote "FOR" the Company's two highly-qualified directors up for re-election on the WHITE proxy card – Wendy L. Dixon, Ph.D and Tamara A. Favorito, both of whom bring extensive public company board experience and life sciences management expertise to the Zevra Board. Both of these independent directors have contributed valuable perspectives that have helped accelerate the Company’s progress and execution of its strategic goals. In conjunction with the definitive proxy filing, Zevra is mailing a letter to stockholders detailing the decisive action the Company has taken over the past two years to transform Zevra into a stronger, growth-oriented commercial organization, which is poised to continue to drive significant stockholder value. The letter also addresses the attempt by an individual stockholder, Daniel J. Mangless, to replace two highly qualified directors with his nominees who could disrupt the clear progress underway and jeopardize Zevra’s ability to deliver long-term value for stockholders. As stockholders consider this important election, it is critical to remember that: The proactive and refreshed Zevra Board and management team have a proven track record of success, as demonstrated by the continued progress and significant stockholder value creation during the last two years. Seven of eight directors have joined the Board since 2023 and Zevra’s refreshed management team has launched two rare disease therapies, rapidly expanded the Company’s commercial capabilities, and positioned its pipeline for continued success. The ongoing execution of Zevra’s strategy is designed to continue driving value over the coming months and years. Zevra’s Board nominees are proven, experienced public company leaders and directors who have the requisite company and industry expertise and fulfill the essential requirements for effective governance of a rapidly growing commercial-stage rare disease company. During their tenure, the Board’s nominees have initiated and overseen substantial improvements to the Company. Despite owning just 2.8% of the Company and having already had three nominees elected to the Board in 2023, Mr. Mangless is now actively seeking two additional Board seats without providing any clear strategy or explanation of what he intends to accomplish or how he proposes to increase stockholder value. If Mr. Mangless’ two nominees are elected this year, his nominees would have five Board seats in total, representing a majority of the Board. This latest attempt raises questions about the amount of undue influence one stockholder should have on the Board. In his own proxy filing, Mr. Mangless acknowledges that if his two nominees are elected, the five nominees that he will have added to the Board “will potentially be able to implement any actions that they may believe are necessary...” Mr. Mangless has not disclosed any specific strategies, plans, or new ideas to improve Zevra’s business – in fact, he has expressed agreement with the recent actions that Zevra has taken, including the onboarding of Zevra’s current leadership, yet he still appears focused on replacing two highly-qualified directors with his nominees who lack the necessary expertise, independence, and proper business judgment and acumen to serve Zevra's stockholders effectively. Mr. Mangless’ nominees are a proxy solicitor with no relevant Board or industry experience, and a former CEO, both of whom have previously destroyed significant stockholder value. The Zevra Board believes that adding his nominees will put stockholders‘ investments in Zevra at risk. Mr. Mangless’ nominees, Arthur Regan and Dr. Travis Mickle, have track records of destroying stockholder value in public company leadership roles. During Regan’s tenure as a director at US Wats, US Wats’ stock price fell 63.9%. While Dr. Mickle was CEO of Zevra, its stock price plummeted 97.4%.1 Zevra's letter to stockholders and other materials regarding the Board's recommendation for the 2025 Annual Meeting can be found on the Company’s investor relations website at https://investors.zevra.com/. The full text of the letter follows: Dear Fellow Stockholders, The Zevra Board of Directors and management team have taken decisive action over the past two years, transforming the Company and driving significant stockholder value creation. This transformation began in October 2023, when your Board appointed Neil McFarlane as President and CEO of Zevra, following a thorough process to find the right leader to accelerate Zevra’s progress and harness our pipeline of innovative rare disease therapies. Since then, we have launched two rare disease therapies and have been rapidly expanding Zevra’s commercial capabilities. We completed a comprehensive review of our development pipeline to facilitate investment in the most promising, highest return opportunities. At the same time, we have added significant expertise to support the Company’s growth and help us continue to drive operational excellence across our commercial and pre-commercial programs. Further, we have strengthened Zevra’s balance sheet, providing the Company with ample financial flexibility to continue investing in growth, without needing incremental funding from the capital markets. In late 2024, your Board and management team detailed a clear and comprehensive five-year strategic plan to drive long-term growth and patient impact. We are making significant progress as we successfully drive towards our clear priorities and achieve our vision of positioning Zevra as a leading global rare disease company. The results of our execution speak for themselves: Our strategy has enabled Zevra to deliver superior returns for our stockholders. During the last 1-year and 2-year periods, your Board and management team have delivered total stockholder returns of 54.1% and 14.8%, respectively, all in excess of the comparable biotech sector and the Russell 2000. As seen below, since Mr. McFarlane was appointed CEO in October 2023, Zevra has achieved impressive total stockholder returns of 54.8%.2 Against this backdrop of significant commercial progress and superior returns, you have an important decision to make at our upcoming Annual Meeting on May 29, 2025. Your Board has two independent directors up for re-election, Wendy L. Dixon, Ph.D., who has served as a director since April 2023, and Tamara A. Favorito, who has served as a director and Chair of the Audit Committee since August 2021 and as our Board Chair since May 2023. Dr. Dixon and Ms. Favorito bring extensive public company board experience, deep knowledge of Zevra, and life sciences management expertise to the Zevra Board. Both directors have contributed valuable perspectives that have helped accelerate the Company’s progress and execution of its strategic goals. Meanwhile, Daniel J. Mangless, an individual stockholder, has nominated Travis C. Mickle, Ph.D., Zevra’s former President and CEO, and Arthur C. Regan, a proxy solicitor, for election to your Board. We believe that adding a former CEO, who presided over a period of significant stockholder value destruction during his tenure at Zevra and cannot be considered independent under SEC and stock exchange rules, as well as a proxy solicitor with no industry experience risks significant disruption to Zevra’s ongoing progress and ability to continue delivering sector-leading returns to stockholders. Further, their appointments would distract from the Company’s continued disciplined execution of its five-year strategic plan and value-creation initiatives. Zevra’s Board recommends that stockholders reject these efforts by Mr. Mangless. Please discard any blue proxy card sent to you by Mr. Mangless. To elect the Zevra Board's nominees, we encourage you to vote today – no matter how many or how few shares you own –online or by signing and dating the enclosed WHITE proxy card and returning it in the postage-paid envelope provided. As you consider this important election, it is critical to remember that: Your proactive and refreshed Zevra Board and management team have a proven track record of success, as demonstrated by the continued progress and significant stockholder value creation during the last two years. Seven of eight directors have joined the Board since 2023, and Zevra’s refreshed management team executed the launch of two rare disease therapies, rapidly expanded the Company’s commercial capabilities and positioned its pipeline for continued success. The ongoing execution of Zevra’s strategy is designed to continue driving value over the coming months and years. Zevra’s Board nominees are proven, experienced public company leaders and directors who have the requisite company and industry expertise and fulfill the essential requirements for effective governance of a rapidly growing commercial-stage rare disease company. During their tenure, the Board’s nominees have initiated and overseen substantial improvements to the Company. Despite owning just 2.8% of the Company and having already had three nominees elected to the Board in 2023, Mr. Mangless is now actively seeking two additional Board seats without providing any clear strategy or explanation of what he intends to accomplish or how he proposes to increase stockholder value. If Mr. Mangless’ two nominees are elected this year, his nominees would have five Board seats in total, representing a majority of the Board. This latest attempt raises questions about the amount of undue influence one stockholder should have on the Board. In his own proxy filing, Mr. Mangless acknowledges that if his two nominees are elected, the five nominees that he will have added to the Board “will potentially be able to implement any actions that they may believe are necessary...” Mr. Mangless has not disclosed any strategies, plans, or new ideas to improve Zevra’s business – in fact, he has expressed agreement with the recent actions that Zevra has taken, including the onboarding of Zevra’s current leadership, yet he still appears focused on replacing two highly-qualified directors with his nominees who lack the necessary expertise, independence, and proper business judgment and acumen to serve Zevra's stockholders effectively. Mr. Mangless’ nominees are a proxy solicitor with no relevant Board or industry experience, and a former CEO, both of whom have previously destroyed significant stockholder value. The Zevra Board believes that adding his nominees will put stockholders‘ investments in Zevra at risk. Mr. Mangless’ nominees, Arthur Regan and Dr. Travis Mickle, have track records of destroying stockholder value in public company leadership roles. During Regan’s tenure as a director at US Wats, US Wats’ stock price fell 63.9%. While Dr. Mickle was CEO of Zevra, its stock price plummeted 97.4%.3 We ask you a simple question: Would you rather have a proven team with a clear strategy, strong momentum, relevant expertise, and a track record of increasing stockholder value, or risk distraction, disruption, and potential destruction of the Company's value by a single stockholder with unqualified director nominees and no stated business strategy? We urge you to stand with management and reject the blue proxy card with Mr. Mangless’ nominees. Your Board and Management Team are Actively Delivering Significant Progress as we Continue Zevra’s Transformation into a Leading Rare Disease Company Over the past two years, your Board and management team have been actively transforming Zevra into a more efficient, more focused organization that is better positioned to create value for our patients and stockholders. In the third quarter of 2024, we introduced our five-year strategic plan, built on four key pillars that have informed our priorities and investments as we continue to accelerate Zevra’s commercial momentum: (1) Commercial Excellence, (2) Pipeline and Innovation, (3) Talent and Culture, and (4) Corporate Foundation. 1. Delivering Commercial Excellence – In 2024, we successfully commercialized and launched Zevra’s first two products. Since then, we have maintained our active focus on driving best-in-class commercial excellence. In September 2024, we received approval from the U.S. Food and Drug Administration for MIPLYFFA®, the first approved product in the U.S. for the treatment of Niemann-Pick disease type C (NPC). Alongside this approval, we received a Rare Pediatric Disease Priority Review Voucher (PRV), which Zevra recently sold for $150 million to further enhance our financial flexibility. MIPLYFFA became available to patients within eight weeks following approval, and with the support of the NPC community and strong execution by our team, we were able to quickly ensure a smooth transition for all U.S. Expanded Access Program (EAP) participants to MIPLYFFA as a commercial product. Eight months earlier, in January 2024, we launched OLPRUVA®, Zevra’s first-ever commercial product, for people suffering from certain urea cycle disorders (UCDs), and we have continued its growth while accelerating the establishment of our commercial footprint. 2. Enhancing the Value of Zevra’s Pipeline and Innovation – Throughout 2024, your Board and management team conducted a comprehensive, data-driven review to optimize and curate Zevra’s portfolio. This review allowed us to focus our resources on development projects where Zevra is uniquely positioned to create the most value for patients and our stockholders – ensuring that we are investing in Zevra’s most promising, highest return opportunities. Launched Phase 3 DiSCOVER trial: Based on the results of our review, in mid-2024, we reinitiated recruitment for the Phase 3 DiSCOVER trial of celiprolol for the treatment of Vascular Ehlers-Danlos Syndrome (VEDS) as a potential treatment for a patient population with high unmet need. Maximizing the Value of KP1077: In June, we announced positive topline results from our KP1077 Phase 2 trial in idiopathic hypersomnia at the 2024 Annual SLEEP Meeting. At the end of the third quarter, we completed our end-of-Phase 2 meeting. The FDA and Zevra reached alignment on a Phase 3 trial design and indicated that a single pivotal study with appropriate confirmatory evidence would be sufficient to submit a New Drug Application (NDA). As part of our pipeline review, we have determined that the best path forward to maximize the value of KP1077 is to explore strategic alternatives for advancing its clinical development and future commercialization. 3. Optimizing Leadership Team with the Right Talent: As we have continued our momentum, we have also evolved our leadership team to ensure we have the right talent to support our continued growth into a leading rare disease commercial company. In June 2024, we enhanced our executive leadership team with the appointments of Rahsaan Thompson as Chief Legal Officer, Secretary and Compliance Officer, and Alison Peters as Chief People Officer; we also consolidated our development and scientific functions under Adrian Quartel, our Chief Medical Officer. 4. Strengthening Zevra’s Corporate Foundation: We have continued our approach of disciplined capital allocation, focusing our investments on the highest return activities and actively enhancing our financial flexibility. In April 2024, we bolstered Zevra’s balance sheet by restructuring the Company’s debt, using a new credit facility provided by premier biotech investors. In September 2024, we secured a Rare Pediatric Disease Priority Review Voucher (PRV) with the approval of MIPLYFFA, which we sold this April for approximately $150 million, providing additional non-dilutive capital to fuel our commercial launches of MIPLYFFA and OLPRUVA, and further the development of celiprolol. We believe this transaction provides us with important financial flexibility to deliver on our strategic plan without undue reliance on incremental funding from the capital markets. In the coming quarters, your Board and management team intend to maintain focus on accelerating Zevra’s momentum – continuing to drive value for both rare disease patients and our stockholders. Your Board and Management Team Have a Clear Path Forward to Continue Zevra’s Momentum Looking ahead, we have a clear strategic plan and path forward to continue Zevra’s growth trajectory and realize our bright future. Our priorities in the coming year include: Expanding adoption of MIPLYFFA. We are actively focused on increasing awareness and adoption of MIPLYFFA. Most recently, in February 2025, we launched efforts to provide integral educational and testing resources to NPC treatment teams and physicians in the U.S. Our market access team is also working tirelessly to continuously engage with payors to formalize coverage so that all patients may have access to this life-changing treatment. Securing regulatory approval of MIPLYFFA in the EU. We remain on track to file a marketing authorization application (MAA) in the second half of 2025. This approval would further expand our addressable market to the estimated 1,100 people living with NPC in the EU. Expanding adoption of OLPRUVA for the adult-onset population for whom OLPRUVA's portability and ease of administration may be most beneficial. Our efforts are also focused on supporting patients facing insurance coverage challenges. Accelerating enrollment in the Phase 3 DiSCOVER trial for celiprolol, by expanding our outreach and education efforts within the patient community and among treating physicians. Accelerating enrollment and completion of the Phase 3 trial will advance efforts towards making this potential treatment available. There are currently no treatments approved in the U.S. for VEDS and the approximately 7,500 people living with this disease. With a strong pipeline of innovative products, multiple upcoming milestones in the coming quarters, and your management team’s continued disciplined execution, we are confident that Zevra is positioned for long-term success. Your Board and Management Team Already Have Fresh Perspectives to Drive Stockholder Value The Zevra Board and management team have been dramatically refreshed since 2023. Seven out of the eight current directors joined the Board in the past two years. Since his appointment as President and CEO in October 2023, Mr. McFarlane’s leadership has delivered significant stockholder value creation. Since then, we have added more talent and expertise to support Zevra’s continued growth, as evidenced by our June 2024 executive appointments. Your Board is composed of directors who are exceptionally qualified, independent, and committed to acting in the best interests of all Zevra stockholders. They provide rigorous oversight of the Company's progress, and we are confident they are the right directors to continue driving superior stockholder value. With the re-election of the two directors your Board has nominated, Dr. Dixon and Ms. Favorito, your Board would continue to be comprised of eight highly-qualified directors, seven of whom are independent and all of whom bring important perspectives and expertise to oversee the continued execution of Zevra’s strategy. We Actively Engaged with Mangless to Try to Avoid a Costly, Potentially Distracting Proxy Contest – Yet He is Intent on Replacing Two Highly-Qualified Directors Over the past several months, we have actively engaged with Mr. Mangless in an attempt to avoid a costly proxy contest that could distract from our continued strong execution. Despite his 2.8% ownership of the Company and having already had three of his nominees elected to the Board in 2023, Mr. Mangless appears intent on trying to secure two additional seats on the Board without providing any specific strategy or plan to meaningfully improve Zevra’s business. Mr. Mangless only expresses dissatisfaction with the Company’s governance structure, without disclosing any expertise or experience regarding the corporate governance practices that are typical for companies of similar size, stage, and/or therapeutic focus to Zevra. Mr. Mangless’ proxy states that he previously shared suggestions about “increasing the diversity of the Board,” but has not described how either of the candidates he has nominated would promote diversity or otherwise align with his own suggestion. As a company dedicated to developing breakthrough therapies for rare diseases, we operate in a highly specialized and complex environment. Success for stockholders, employees, and the patients we help requires an experienced Board with an appropriate mix of perspectives, including deep scientific and commercial expertise, regulatory acumen, financial experience, and the ability to oversee a long-term vision. Despite the significant and recent Board refreshment at Zevra, Mr. Mangless is actively trying to replace two highly-qualified directors who bring valuable industry, operational, and financial expertise to the Board, both of whom have substantial experience in leadership roles and as public company directors: Wendy L. Dixon, Ph.D., has served as a director since April 2023 and is a member of the Company’s Audit Committee. Dr. Dixon has more than 40 years of biopharmaceutical industry experience in drug development, with leadership roles in regulatory affairs and commercial capabilities. Dr. Dixon has held a number of leadership roles at leading publicly-traded companies, including serving as Chief Marketing Officer and President of Global Marketing at Bristol-Myers Squibb, senior Vice President of Marketing at Merck, and executive management positions at West Pharmaceuticals, Osteotech, and Centocor, in addition to roles at SmithKline and French (now GlaxoSmithKline) in marketing, regulatory affairs, project management, and as a biochemist. Tamara A. Favorito has served as a director and Chair of the Audit Committee since August 2021, and as our Board Chair since May 2023. Ms. Favorito has more than 30 years of industry experience, including 20 years as a Chief Financial Officer for multiple publicly-traded life science companies, including Immunic, Inc., Signal Genetics, Inc. (now Viridian Therapeutics, Inc.), and Favrille, Inc. (now MMR Global, Inc.). Ms. Favorito is the only director who was on the Board prior to 2023, giving her a deeper understanding of the Company’s history and an important perspective as the Company continues its path forward. Mangless’ Proposal to Add a Proxy Solicitor and a Former CEO with Value-Destructive Track Records Meaningfully Risks Disruption to Zevra’s Continued Execution of its Strategic Plan Mr. Mangless is proposing to replace two of your highly-qualified directors with his two nominees. Neither of Mr. Mangless’ nominees would bring any additive skills or experience to the Board. We have significant concerns about the potential disruption and distraction Mr. Mangless’ nominees could bring to Zevra’s operations. More specifically: Mr. Mangless’ nominee, Mr. Regan, runs a five-person proxy solicitation firm, has no industry experience or expertise in life sciences, and is distinctly ill-suited to serve as a director of a leading commercial rare disease company like Zevra. Mr. Regan's only experience as a director of a public operating company was over 25 years ago at US Wats, Inc. (“US Wats”), a telecommunications company where he served as corporate secretary and director. As of April 2000, subsequent to a merger, US Wats appears to have abruptly ceased complying with its reporting requirements, a responsibility that seems directly tied to Mr. Regan as the company’s corporate secretary and director at that time, and the company’s SEC registration was subsequently revoked. Furthermore, during Mr. Regan’s tenure as a director, US Wats stockholder value was destroyed, with the stock price falling 63.9%. Mr. Regan’s only other public company director-level experience appears to have taken place for a little over a year starting in 2017, when he was nominated by an activist investor as a trustee of a closed-end mutual fund, Madison Strategic Sector Premium Fund. During that contested election, Mr. Regan was also performing proxy solicitation services for the activist, leading independent proxy advisor Glass Lewis to determine during the proxy contest that “we see very little value in the prospective election of...Mr. Regan.” On August 22, 2017, Madison Strategic Sector Premium Fund held an Annual Meeting of stockholders of the fund, at which Mr. Regan was elected as a trustee. By October 2018, Madison Strategic Sector Premium Fund merged with another fund, deregistered from the SEC and delisted from the stock exchange on which it had been listed. Mr. Regan is inexperienced and wholly unqualified to serve as a director of a highly specialized rare disease company like Zevra. Specifically, we believe that Mr. Regan’s erratic and arguably unprofessional nature, evident in his communications on his personal blog and online posts, would create serious risk to Zevra’s reputation, performance, and momentum if he were elected to the Board. Mr. Mangless has also nominated Dr. Mickle, who cannot be considered independent under SEC and stock exchange rules due to his former roles as CEO and President of the Company until his resignation in 2023 and his consulting arrangement with the Company until 2024. While our current management team has delivered a strong 54.8% total stockholder return, Dr. Mickle's leadership led to stockholder value destruction at Zevra – resulting in the share price plummeting 97.4% during his tenure, substantially underperforming both industry benchmarks and the broader market. Further, it would be highly unusual for a former CEO to serve as a director of that same company, so soon after departing as CEO. This could create a scenario where Dr. Mickle seeks to micromanage the executive team instead of focusing on oversight, or even to pursue a return to his previous role as CEO. We view this potential outcome as negative to Zevra and its stockholders, especially given the substantial increase in stockholder value delivered by the current management team, as compared to the destruction of stockholder value under Dr. Mickle’s leadership. Your Board and management team believe the addition of one or both of Mr. Mangless’ nominees would distract from management's continued successful execution of our strategic plan. In the absence of any stated strategy or ideas for increasing stockholder value, we believe Mr. Mangless and his nominees will only disrupt the clear progress underway and risk our ability to deliver short- and long-term value for you. PROTECT THE VALUE OF YOUR INVESTMENT IN ZEVRA:VOTE THE WHITE PROXY CARD TODAY Your Board and management team have a clear path forward to continue delivering value for all Zevra stockholders as we advance the Company’s transformation into a leading rare disease company. Your refreshed Zevra Board is active, engaged, and delivering results. Our delivery of significant stock price appreciation, strong execution, and operational successes demonstrate that we have the right leadership team and strategic vision in place. Maintaining this momentum is critical to Zevra's continued transformation into a leading rare disease company and to our continued efforts in delivering sustained value for you, our valued stockholders. Whether or not you plan to attend the Annual Meeting, you have an opportunity to protect your investment in Zevra by voting the WHITE proxy card. Your vote is extremely important, no matter how many or how few shares you own. We urge you to vote today, either online or by signing and dating the enclosed WHITE proxy card and returning it in the postage-paid envelope provided. The Board strongly urges you to discard and not to sign or return any blue proxy card sent to you by Mr. Mangless. This is an important moment for Zevra’s future, and we hope we can count on your support. For all of the reasons we have outlined, we encourage you to vote on the WHITE proxy card "FOR" the re-election of Wendy Dixon, Ph.D. and Tamara A. Favorito to the Company’s Board as Class I directors to hold office until the 2028 Annual Meeting of Stockholders. We are excited about the opportunities ahead for Zevra. Thank you for your continued support. Sincerely, The Zevra Board of Directors About Zevra Therapeutics, Inc. Zevra Therapeutics, Inc. is a commercial-stage company combining science, data, and patient need to create transformational therapies for rare diseases with limited or no treatment options. Our mission is to bring life-changing therapeutics to people living with rare diseases. With unique, data-driven development and commercialization strategies, the Company is overcoming complex drug development challenges to make new therapies available to the rare disease community. For more information, please visit www.zevra.com or follow us on X and LinkedIn. Cautionary Note Concerning Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s actions to enhance stockholder value, the Company’s plans with respect to director candidates nominated by stockholders; the Company’s strategic, financial, operational, and product development objectives; and the timing of any of the foregoing. Forward-looking statements are based on information currently available to Zevra and its current plans or expectations. They are subject to several known and unknown uncertainties, risks, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, as described in detail in the "Risk Factors" section of Zevra’s Annual Report on Form 10-K for the year ended December 31, 2024, and Zevra’s other filings with the SEC. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot assure that such expectations will prove correct. These forward-looking statements should not be relied upon as representing our views as of any date after the date of this press release. Additional Information and Where to Find It Zevra has filed with the SEC a definitive proxy statement on Schedule 14A, containing a form of WHITE proxy card, with respect to its solicitation of proxies for the 2025 Annual Meeting of Stockholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY ZEVRA, AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED BY ZEVRA WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Investors and security holders may obtain copies of these documents and other documents filed with the SEC by Zevra free of charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by Zevra are also available free of charge by accessing Zevra’s investor relations website at investors.zevra.com. Participants in the Solicitation Zevra, its directors, executive officers, and employees may be deemed to be participants in the solicitation of proxies with respect to a solicitation by Zevra. Information about Zevra’s executive officers and directors is available under the heading “Information about our Executive Officers and Directors” in Part I of Zevra’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on March 12, 2025 and under the headings “Proposal 1: Election of Directors,” “Executive Officers,” “Security Ownership of Certain Beneficial Owners and Management” and “Executive Compensation,” and “Director Compensation” in Zevra’s definitive proxy statement on Schedule 14A for its annual meeting of stockholders held in 2025, which was filed with the SEC on April 21, 2025. To the extent holdings of our directors and executive officers of Zevra securities reported in such definitive proxy statement change, such changes will be reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are available free of charge at the SEC’s website at www.sec.gov. Copies of the documents are also available free of charge by accessing Zevra’s investor relations website at investors.zevra.com. Contacts For investor inquiries Nichol Ochsner+1 (732) 754-2545nochsner@zevra.com For media inquiries FTI ConsultingTanner Kaufman / Kyla MacLennan / Mike Gaudreauzevratherapeutics@fticonsulting.com 1 Source: FactSet Research Systems Inc.2 Source: FactSet Research Systems Inc. as of 4/17/25 3 Source: FactSet Research Systems Inc. Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6d5679f5-0a5d-493b-b14b-3c2f48df6987 https://www.globenewswire.com/NewsRoom/AttachmentNg/ce75ec49-2edd-4b5e-b286-a2dc3de3a0d9 https://www.globenewswire.com/NewsRoom/AttachmentNg/e861f5be-f8ec-4a72-a9cf-f736c0847ee9 https://www.globenewswire.com/NewsRoom/AttachmentNg/edf0ce9f-f81b-4444-9d54-36c2be2ea69d https://www.globenewswire.com/NewsRoom/AttachmentNg/011661ce-8fcf-4fc4-937a-a2bc1f608cc7

SAN DIEGO, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Artiva Biotherapeutics, Inc. (Nasdaq: ARTV), a clinical-stage biotechnology company whose mission is to develop effective, safe, and accessible cell therapies for patients with devastating autoimmune diseases and cancers, today announced the appointment of Dan Baker, M.D., as an independent member of its Board of Directors. Dr. Baker brings over two decades of drug development experience in the pharmaceutical industry. He is currently the interim Chief Development Officer of Cue Biopharma, Inc., and previously held a 19-year tenure at Johnson & Johnson (Janssen/Centocor) (J & J) most recently as the Vice President of Immunology R&D. “Dan is a pharmaceutical industry veteran who brings decades of leadership experience in clinical and regulatory strategy to our Board of Directors. Importantly, he has invaluable experience in the clinical development of treatments for autoimmune disease, including key standards of care therapies such as Remicade, Simponi and Stelara,” said Fred Aslan, M.D., Chief Executive Officer (CEO) of Artiva. “We are delighted to welcome Dan to our Board and leverage his unique insights and experience as we advance and expand the development of our AlloNK® program.” Dr. Baker added, “Artiva is pioneering novel NK cell therapies with unmatched versatility and broad expansion potential across autoimmune diseases. I look forward to partnering with the management team and the board to support them in their mission to deliver safe and effective NK cell-based therapies that can be used in a community setting.” Prior to Cue Biopharma, Inc., Dr. Baker served as CEO and Founder of Kira Biotech Pty Ltd, a biotechnology company advancing novel drugs targeting immune system disorders. During his tenure at J & J, he led the clinical development of major immunology and inflammatory drugs including Remicade, Simponi and Stelara, which achieved over $20 billion in peak sales as well as other major clinical drug programs. Dr. Baker also previously served as Executive Director on the board of directors of Galapagos Therapeutics. He holds a B.A. in Biology from Gettysburg College and an M.D. from the University of Pennsylvania. Dr. Baker completed his medical residency at Hershey Medical Center and fellowship in Rheumatology at the University of Pennsylvania, followed by a research fellowship in Rheumatology at Mass General Hospital. He continued on as part of the faculty of the University of Pennsylvania for 18 years before taking on industry roles. About Artiva Biotherapeutics Artiva is a clinical-stage biotechnology company whose mission is to develop effective, safe and accessible cell therapies for patients with devastating autoimmune diseases and cancers. Artiva’s lead program, AlloNK®, is an allogeneic, off-the-shelf, non-genetically modified, cryopreserved NK cell therapy candidate designed to enhance the antibody-dependent cellular cytotoxicity effect of monoclonal antibodies to drive B-cell depletion. AlloNK® is currently in clinical trials for treatment of systemic lupus erythematosus, for patients with or without lupus nephritis, and in an investigator-initiated basket trial in multiple autoimmune indications. Artiva’s pipeline also includes CAR-NK candidates targeting both solid and hematologic cancers. Artiva was founded in 2019 as a spin out of GC Cell, formerly GC Lab Cell Corporation, a leading healthcare company in the Republic of Korea, pursuant to a strategic partnership granting Artiva exclusive worldwide rights (excluding Asia, Australia and New Zealand) to GC Cell’s NK cell manufacturing technology and programs. Artiva is headquartered in San Diego, California. For more information, please visit https://www.artivabio.com/. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not statements of historical fact are forward-looking statements. Such forward-looking statements include, without limitation, statements regarding: expectations of Artiva Biotherapeutics, Inc. (the “Company”) regarding the potential benefits, accessibility, effectiveness and safety of AlloNK®. These forward-looking statements are based on the beliefs of the management of the Company as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events and are subject to known and unknown risks and uncertainties. In light of these risks and uncertainties, the events or circumstances referred to in the forward-looking statements may not occur. These and other factors that may cause the Company’s actual results to differ from current expectations are discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the section titled “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release is given. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. ContactsInvestors: Neha Krishnamohan, Artiva Biotherapeutics, ir@artivabio.comMedia: Jessica Yingling, Ph.D., Little Dog Communications Inc., jessica@litldog.com, +1.858.344.8091 Source: Artiva Biotherapeutics, Inc.

Samir R. Patel, M.D., appointed as Chief Executive Officer Abizer Gaslightwala appointed to Board of Directors BOSTON and LONDON, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Akari Therapeutics, Plc (Nasdaq: AKTX) today announced the appointment of Samir R. Patel, M.D., as Chief Executive Officer, effective December 16, 2024. Dr. Patel has served as interim Chief Executive Officer since May 2024. Additionally, the Company announced it has appointed Abizer Gaslightwala to its Board of Directors, effective December 16, 2024. Michael Grissinger, a member of the Board of Directors, provided notice of his resignation on December 16, 2024. “Since beginning my role as interim CEO in May 2024, we have worked diligently to close the merger with Peak Bio, which we accomplished in November, and position Akari for continued growth and value creation. Looking ahead, we are focusing our efforts and resources to streamline operations and execute on our portfolio prioritization – our potentially best-in-class ADC platform. I am pleased to solidify my role with the Akari team and look forward to building momentum and driving shareholder value in the near and long term,” commented Dr. Patel, Chief Executive Officer of Akari. About Samir R. Patel, M.D. Dr. Patel currently serves as founder and principal of PranaBio Investments, LLC, a firm providing consulting, strategic advisory, and investment services for small cap biotechnology companies. He is also a consultant to GE Global Research, GE’s innovation engine that is creating novel products and solutions across several sectors including biomanufacturing and biotechnology. He has more than 20 years of experience in life sciences including founding SPEC Pharma, LLC, a company that develops and manufactures injectables used in human and veterinary applications. Previously, Dr. Patel held multiple roles in Medical Affairs with Centocor, Inc. (now Johnson & Johnson Innovative Medicine, part of Johnson & Johnson). He holds multiple patents, has been an author on several publications and has been an investigator in numerous clinical research studies. He has served on the boards of several public companies, including Rezolute Bio. Dr. Patel received his medical degree from the Medical College of Ohio and completed his internal medicine internship, residency, and rheumatology fellowship at The University of New Mexico School of Medicine Affiliated Hospitals. About Abizer Gaslightwala Mr. Gaslightwala is a well-established biotechnology / pharmaceutical industry leader with a demonstrated track record of success spanning over 25 years in the development and commercialization of novel medicines across a range of companies and therapeutic areas. Mr. Gaslightwala currently serves as the Senior Vice President and Franchise Head for Oncology at Jazz Pharmaceuticals, where he has full responsibility for a portfolio of products spanning both solid and hematological malignancies that have total annual sales of $1B. These brands include ZIIHERA® for HER2+ cancers, ZEPZELCA® for small cell lung cancer, and RYLAZE®, DEFITELIO®, and VYXEOS® for a range of hematological malignancies. “We are pleased to welcome Abizer to our Board of Directors. We believe the depth and breadth of his development and commercialization leadership and expertise amassed over the course of his career will provide valuable insight as we work to propel Akari to its next phase of growth. Additionally, we would like to thank Michael for his years of service on our board. His perspective and guidance have played a key role in getting the Company to where we are today,” added Dr. Patel. Mr. Gaslightwala added, “I'm thrilled to join the Akari board and have been extremely compelled by the Company’s unique ADC platform targeting the spliceosome, that has the potential to set a new standard of care for cancer patients. I look forward to working closely with the management team and other members of the board to advance this platform forward and potentially address areas of significant unmet need for cancer patients.” Prior to his current position at Jazz Pharmaceuticals, Mr. Gaslightwala has led and driven growth in several leadership roles at Amgen, Pfizer, and Johnson & Johnson across multiple brands including Kyprolis®, Vectibix®, Neulasta®, XGEVAf®, Repatha®, and ELIQUIS®. His experience spans business unit leadership, brand marketing, sales leadership, commercial pipeline planning, advanced analytics and insights, and business development. Mr. Gaslightwala also helped lead R&D strategic planning within the autoimmune/inflammation portfolio at Johnson & Johnson, as well as lead commercial planning for Remicade® and several novel pipeline molecules focused on rheumatoid arthritis, inflammatory bowel disease, psoriasis, and atopic dermatitis. Additionally, Mr. Gaslightwala advised several life science companies through his time at the Boston Consulting Group (BCG). Mr. Gaslightwala holds a BS in Chemical Engineering from Cornell University, and an MBA from the Sloan School of Management, and a MS in Chemical Engineering from MIT. About Akari Therapeutics Akari Therapeutics, Plc (Nasdaq: AKTX) is a biotechnology company developing advanced therapies for autoimmune, oncology and inflammatory diseases. Akari has two lead assets, investigational nomacopan and an antibody drug conjugate (ADC) platform. Nomacopan is a bispecific recombinant inhibitor of complement C5 activation and leukotriene B4 (LTB4) activity. The Company’s ADC platform includes novel toxins and linkers coupled with important cancer antibody targets. For more information about Akari, please visit akaritx.com. Cautionary Note Regarding Forward-Looking Statements This press release includes express or implied forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), about the Company that involve risks and uncertainties relating to future events and the future performance of the Company. Actual events or results may differ materially from these forward-looking statements. Words such as “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “future,” “opportunity” “will likely result,” “target,” variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding: the business combination and related matters, including, but not limited to, post-closing operations and the outlook for the Company’s business; the Company’s targets, plans, objectives or goals for future operations, including those related to its product candidates; financial projections; future economic performance,; and the assumptions underlying or relating to such statements. These statements are based on the Company’s current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. A number of important factors, including those described in this communication, could cause actual results to differ materially from those contemplated in any forward-looking statements. Factors that may affect future results and may cause these forward-looking statements to be inaccurate include, without limitation: the risk that Akari and Peak Bio may not realize the anticipated benefits of the Merger in the time frame expected, or at all; the ability to retain and hire key personnel; potential adverse reactions or changes to business relationships resulting from the Merger; the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of the combined business; uncertainties as to the long-term value of Akari’s American Depositary Shares (and the ordinary shares represented thereby), including the dilution caused by Akari’s issuance of additional American Depositary Shares (and the ordinary shares represented thereby) in connection with the Merger; risks related to global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations; potential delays or failures related to research and/or development of the Company’s programs or product candidates; risks related to any loss of the Company’s patents or other intellectual property rights; any interruptions of the supply chain for raw materials or manufacturing for the Company’s product candidates, the nature, timing, cost and possible success and therapeutic applications of product candidates being developed by the Company and/or its collaborators or licensees; the extent to which the results from the research and development programs conducted by the Company, and/or its collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; uncertainty of the utilization, market acceptance, and commercial success of the Company’s product candidates; unexpected breaches or terminations with respect to the Company’s material contracts or arrangements; risks related to competition for the Company’s product candidates; the Company’s ability to successfully develop or commercialize its product candidates; potential exposure to legal proceedings and investigations; risks related to changes in governmental laws and related interpretation thereof, including on reimbursement, intellectual property protection and regulatory controls on testing, approval, manufacturing, development or commercialization of any of the Company’s product candidates; the Company’s ability to maintain listing of its ADSs on the Nasdaq Capital Market. While the foregoing list of factors presented here is considered representative, no list should be considered to be a complete statement of all potential risks and uncertainties. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release. Investor Contact: JTC Team, LLCJenene Thomas908.824.0775AKTX@jtcir.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/110aebf9-2683-41c9-ba9d-bf06f7e42054