ZyVersa Therapeutics (ZVSA) investor relations material

Executive summary

• Clinical-stage biopharma advancing VAR 200 for kidney diseases and IC 100 for chronic inflammatory diseases, with lead indications in FSGS and cardiometabolic conditions.

• Pipeline expansion potential in Alport syndrome, diabetic kidney disease, and rare kidney diseases.

• No revenue generated to date; operations funded by equity and debt issuances.

• Net loss of $24.3 million for the nine months ended September 30, 2025, up from $8.0 million year-over-year.

• Delisted from Nasdaq in October 2025; now trading on OTCQB under symbol ZVSA.

Financial highlights

• Operating expenses for the nine months ended September 30, 2025 were $24.9 million, up from $7.9 million year-over-year, driven by an $18.6 million impairment charge.

• Net loss for Q3 2025 was $19.8 million, up from $2.4 million in Q3 2024, primarily due to an $18.6 million impairment charge.

• Cash balance at September 30, 2025 was $0.5 million, down from $1.5 million at year-end 2024.

• Research and development expenses decreased 37.6% to $1.0 million for the nine months, and 16.3% year-over-year to $0.4 million for Q3 2025.

• General and administrative expenses decreased 15.1% to $5.3 million for the nine months, and 5.1% year-over-year to $1.7 million for Q3 2025.

Outlook and guidance

• Cash on hand expected to fund operations on a month-to-month basis; additional capital raises and financing required for ongoing operations and pipeline development.

• Plans to seek funding through equity, debt, grants, collaborations, or warrant exercises.

• Anticipates continued operating losses and increased expenses as development progresses.

• No assurance of profitability or successful capital raising.