- Zevra Therapeutics (ZVRA, Financial) files its definitive proxy statement for the 2025 Annual Meeting slated for May 29.
- The company urges stockholders to vote for directors Wendy L. Dixon and Tamara A. Favorito, citing a 54.8% total stockholder return under current leadership.
- There is contention as Daniel J. Mangless, a 2.8% stockholder, seeks additional board control without presenting strategic plans.
Zevra Therapeutics (ZVRA) has formally filed its definitive proxy statement with the SEC for the upcoming 2025 Annual Meeting of Stockholders, scheduled for May 29. The current board is urging stockholders to support the re-election of incumbent directors Dr. Wendy L. Dixon and Tamara A. Favorito, both of whom bring valuable experience and strategic insight that have contributed to the company's recent successes, including a noteworthy 54.8% total stockholder return since CEO Neil McFarlane's appointment in October 2023.
The board's call to action comes amidst a challenge from Daniel J. Mangless, a minor stockholder with a 2.8% stake in the company who is advocating for the replacement of two directors with his nominees, Travis C. Mickle and Arthur C. Regan. Should Mangless succeed, his appointees would control the majority of the board seats, potentially disrupting the current strategic direction which has seen the successful commercialization of rare disease therapies MIPLYFFA® and OLPRUVA®.
Zevra's leadership emphasizes that Mangless has not put forth any clear strategic alternative and argues that his nominees lack relevant industry experience, a concern given the company's recent achievements including the $150 million sale of a Priority Review Voucher linked to MIPLYFFA®. This financial transaction fortifies Zevra's balance sheet without the need for immediate capital market funding, positioning the company for sustained growth in the rare disease market.
