Press release
KemPharm Issues Letter to Shareholders Detailing Strategic Focus on CNS/Rare Disease Indications and Updated Clinical Development Strategy
KemPharm to Advance KP1077 for Idiopathic Hypersomnia as Lead SDX Product Candidate Strong Balance Sheet with Cash and Cash Equivalents of $127.8M as of
About this update from Zevra Therapeutics, Inc.
[{"type":"text","content":"KemPharm to Advance KP1077 for Idiopathic Hypersomnia as Lead SDX Product Candidate Strong Balance Sheet with Cash and Cash Equivalents of $127.8M as of December 31, 2021; Available Cash and Revenues Extend Cash Runway through 2025 and Beyond AZSTARYS® National Launch Accelerating, Full Sales Team in Place by end of January 2022 Conference Call and Live Audio Webcast with Slide Presentation Scheduled for Today, January 19, 2022, at 4:30 p.m. ET CELEBRATION, Fla., Jan. 19, 2022 (GLOBE NEWSWIRE) -- KemPharm, Inc. (NasdaqGS: KMPH), a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs, today announced that Travis C. Mickle, Ph.D., President and CEO of KemPharm, has issued a Letter to Shareholders detailing the company’s strategic focus on Central Nervous System (CNS)/Rare Disease indications, as well as an updated clinical development strategy. The full text of the letter follows. Information about the conference call and live audio webcast can be found following the letter’s conclusion. A MESSAGE FROM OUR CHIEF EXECUTIVE OFFICER Dear Fellow Shareholders: Today is an important milestone in the ongoing evolution of KemPharm and follows a series of transformative events for the company during the past 12 months highlighted by the U.S. commercial launch of AZSTARYS®, the uplisting of our stock to the Nasdaq Global Select Market and its addition to the Nasdaq Biotechnology Index, and the restructuring and recapitalization of our finances, culminating with the announcement of a $50 million share repurchase program through 2023. These events have allowed us to build a strong foundation for the Company’s future, and with that momentum, we have worked to thoughtfully refine our strategic focus to CNS/Rare Disease indications for our future product development efforts. Given our significant expertise and a track record of product development success, our strategic focus on CNS/rare disease indications allows us to target high-value areas with significant unmet needs. Our evaluation of both internal and external product candidates is guided by criteria that include an assessment of the commercial opportunity, and understanding of clinical, development and regulatory risks, as well as time, cost and need, among other strategic considerations. Within CNS/rare disease, there are many potential indic...