ZEVRA THERAPEUTICS, INC. (ZVRA) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 06, 2026

Risk Assessment Details

Potential Dilution: 72.85% of current shares
Recent Dilution: 37.12% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
58M
Potential Supply
43M
Additional shares possible
Splits
None
Past 2 years

Summary

ZVRA currently has 58.4M outstanding shares. with significant dilution risk as 42.6M authorized shares could dilute existing holders by 72.9%. The company has significantly diluted shareholders by 37.12% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 06, 2026

10-Q filing | 58.4M shares outstanding

58M 43M
Mar 09, 2026

10-K filing | 57.3M shares outstanding

57M 44M
Nov 05, 2025

10-Q filing | 56.0M shares outstanding

56M 45M
Aug 12, 2025

10-Q filing | 56.3M shares outstanding

56M 45M
May 13, 2025

10-Q filing | 54.1M shares outstanding

54M 47M
Mar 12, 2025

10-K filing | 53.7M shares outstanding

54M 47M
Nov 13, 2024

10-Q filing | 53.2M shares outstanding

53M 48M
Aug 14, 2024

10-Q filing | 41.9M shares outstanding

42M 59M
Jun 04, 2024

S-3 filing: The company may offer up to $350,000,000 of any combination of common stock, preferred stock, debt securities and warrants in one or more offerings.

42M 59M
May 09, 2024

10-Q filing | 41.8M shares outstanding

42M 0
Apr 01, 2024

10-K filing | 41.5M shares outstanding

42M 0
Feb 05, 2024

S-3 filing: The filing relates to the offer and resale of up to 2,269,721 shares of common stock by selling stockholders.

35M 0
Nov 07, 2023

10-Q filing | 34.7M shares outstanding

35M 0
Aug 14, 2023

10-Q filing | 33.9M shares outstanding

34M 0
May 15, 2023

10-Q filing | 34.5M shares outstanding

34M 0
Mar 07, 2023

10-K filing | 34.5M shares outstanding

34M 0
Nov 10, 2022

10-Q filing | 34.5M shares outstanding

34M 0
Aug 12, 2022

10-Q filing | 34.4M shares outstanding

34M 0
May 12, 2022

10-Q filing | 34.5M shares outstanding

35M 0
Mar 31, 2022

10-K filing | 35.0M shares outstanding

35M 0
Jan 25, 2022

POS AM filing: This prospectus relates to the issuance of up to 1,366,184 shares of our common stock issuable upon the exercise of the outstanding Warrants, at an exercise price of $6.50 per share, and the issuance of up to 425,634 shares of common stock issuable upon the exercise of the outstanding Underwriter Warrants, at an exercise price of $8.125.

35M 0
Nov 10, 2021

10-Q filing | 35.2M shares outstanding

35M 0
Aug 13, 2021

10-Q filing | 35.0M shares outstanding

35M 0
Jul 02, 2021

S-3 filing: The filing is an S-3 form registering securities for sale, including common stock, preferred stock, and debt securities, with a total offering amount of $350,000,000. The company may offer securities from time to time.

29M 0
Jun 25, 2021

S-3 filing: This S-3 filing registers 1,529,379 shares of common stock issuable upon exercise of outstanding warrants for resale by selling stockholders.

29M 0
May 14, 2021

10-Q filing | 28.5M shares outstanding

29M 0
Mar 12, 2021

10-K filing | 28.4M shares outstanding

28M 0
Feb 09, 2021

S-3 filing: The filing covers the offer and resale of up to 7,944,430 shares of common stock issuable upon exercise of outstanding warrants.

4.5M 15M
Jan 27, 2021

8-K filing: The Company completed a warrant exchange and inducement transaction where holders exercised warrants to purchase 6,620,358 shares of common stock for cash, and the Company issued new warrants to purchase up to 7,944,430 shares, receiving gross proceeds of approximately $44.0 million. ($44.0M proceeds)

4.5M 7.1M
Jan 26, 2021

8-K filing: KemPharm, Inc. consummated an underwritten public offering of 6,765,463 shares of common stock and issued inducement warrants to purchase up to 7,944,430 shares in exchange for the exercise of existing warrants, with expected gross proceeds of approximately $44.0 million. ($44.0M proceeds)

4.5M 7.1M
Jan 13, 2021

S-3 filing: This prospectus covers the offer and resale by the selling stockholders identified in this prospectus of up to an aggregate of 8,474,709 shares of our common stock issuable upon exercise of outstanding warrants to purchase 3,632,019 shares of our common stock, or the Warrants, and upon conversion of 31,476.98412 shares of our Series B-2 convertible preferred stock.

4.5M 17M
Jan 05, 2021

S-1/A filing: The company is offering 4,784,688 shares of its common stock and warrants to purchase up to 4,784,688 shares of its common stock along with pre-funded warrants.

4.5M 8.2M
Dec 28, 2020

S-1/A filing: The company is offering 4,340,277 shares of its common stock and warrants to purchase up to 4,340,277 shares of its common stock, as well as pre-funded warrants, with an assumed combined public offering price of $11.52 per share and accompanying warrant.

4.5M 55M
Dec 23, 2020
Stock Split

8-K filing: Stock split 1-for-16 | Outstanding: 72,514,304 → 4,532,144

4.5M 4.5M
Dec 21, 2020

S-1/A filing: The company is offering 46,991,521 shares of common stock and warrants to purchase up to 46,991,521 shares of common stock, as well as pre-funded warrants to purchase shares of common stock. The combined public offering price is $0.9789 per share of common stock and accompanying warrant.

73M 72M
Nov 25, 2020

S-1 filing: The company is filing an S-1 to offer common stock and warrants.

73M 0
Oct 30, 2020

10-Q filing | 70.8M shares outstanding

71M 0
Aug 12, 2020

10-Q filing | 72.5M shares outstanding

72M 0
May 13, 2020

10-Q filing | 65.8M shares outstanding

66M 0
Apr 01, 2020

S-3/A filing: The filing is an S-3/A registration statement for the potential offering of common stock, preferred stock, and debt securities up to an aggregate amount of $80,000,000, including an equity line with Lincoln Park.

57M 0
Feb 28, 2020

10-K filing | 50.7M shares outstanding

51M 0
Jan 10, 2020

8-K filing: KemPharm, Inc. issued a total of 3,000,000 shares of its common stock in exchange for convertible promissory notes totaling $1,800,000 between January 2, 2020, and January 7, 2020. ($1.8M proceeds)

N/A 0
Dec 31, 2019

8-K filing: KemPharm, Inc. issued a total of 3,112,333 shares of common stock in three separate unregistered transactions: 1,112,333 shares upon conversion of Series A convertible preferred stock on December 18, 2019, and 1,000,000 shares each on December 26 and December 30, 2019, upon exchange of convertible promissory notes.

N/A 0
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