ZyVersa Therapeutics, Inc. SEC Filings

ZyVersa Therapeutics, Inc. reported that on July 8, 2026, independent director Min Chul Park, Ph.D. resigned from the Board, the Compensation Committee, and the Nominating and Corporate Governance Committee for personal reasons, with no disagreement related to operations, policies, or practices. The company’s leadership has begun implementing and evaluating cost-cutting measures while seeking to raise capital. The CEO and CFO have voluntarily accepted reduced compensation to conserve cash and increase balance sheet flexibility. Potential additional actions include divesting or selling the VAR 200 or IC 100 product candidates, reducing employee headcount, and decreasing public-company expenses, which may include “going dark” by suspending reporting obligations under Sections 13(a) and 15(d) via Rule 12h-3. ZyVersa is also considering broader strategic alternatives such as a sale of the company or its assets, or a restructuring or reorganization, aiming to extend operations while pursuing new financing.

ZyVersa Therapeutics reported a narrower net loss of $1.8 million for the quarter ended March 31, 2026, compared with $2.3 million a year earlier, as both research and development and general and administrative costs declined. R&D dropped to $57,621 and G&A to $1.25 million, reflecting reduced payroll, manufacturing, consulting and professional fees.

Despite lower expenses, the company remains in a weak financial position. Cash was only $302,660 at quarter‑end against current liabilities of about $14.9 million, resulting in a working capital deficit of roughly $14.1 million and an accumulated deficit near $139.4 million. Management states that these conditions raise substantial doubt about ZyVersa’s ability to continue as a going concern.

To bolster liquidity, ZyVersa raised $1.0 million on February 27, 2026 through convertible notes bearing 10% interest and associated warrants. These instruments are accounted for at fair value, creating a $344,000 day‑one loss and ongoing non‑cash volatility, and add to potential dilution alongside existing warrants, options and preferred shares.

ZyVersa Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing drugs for chronic renal and inflammatory diseases. Its two main platforms are VAR 200, a cholesterol efflux mediator for focal segmental glomerulosclerosis and other glomerular diseases, and IC 100, an inflammasome ASC inhibitor targeting cardiometabolic and other inflammatory conditions.

The company plans a Phase 2a basket trial of VAR 200 in FSGS and Alport syndrome patients in Q2-2026 and a planned IND for IC 100 in Q4-2026, followed by a Phase 1 trial in overweight subjects at cardiometabolic risk. ZyVersa relies on exclusive worldwide licenses from L&F Research and InflamaCORE, which include milestone and royalty obligations.

As of June 30, 2025, aggregate market value of common stock held by non-affiliates was about $3.3 million, based on a $0.68 Nasdaq closing price, and 8,095,921 common shares were outstanding as of March 25, 2026. In 2025, the company spent $1.1 million on research and development and recorded an $18.6 million impairment of in-process R&D, reflecting concerns about recoverability of its intangible asset.

ZyVersa Therapeutics entered into a Securities Purchase Agreement with accredited investors for a private placement of $1 million in convertible promissory notes and accompanying Series A-4 common stock purchase warrants. The notes bear 10% annual interest, mature 12 months after issuance, and are convertible into common stock at 80% of either the price in a future Qualified Offering or the lowest 10-day volume-weighted average price before conversion, subject to a $0.02 per share floor. The five-year warrants become exercisable six months after issuance, with an exercise price set at 110% of the Qualified Offering price or a VWAP-based level, and the share amount per warrant equals 50% of each investor’s subscription amount divided by the exercise price. ZyVersa agreed to file resale registration statements for the underlying shares within specified timeframes and to limit dividends, redemptions, and variable-rate transactions while the securities are outstanding. Net proceeds are intended for working capital, and obligations under the notes are guaranteed by a wholly owned subsidiary.

ZyVersa Therapeutics, Inc. reported that independent director Robert G. Finizio has resigned from the company’s Board of Directors, effective immediately. He also stepped down as Chairman of the Compensation Committee and as a member of the Audit Committee. The company states that his resignation is due to personal reasons and is not the result of any disagreement regarding ZyVersa’s operations, policies, or practices. ZyVersa’s common stock, par value $0.0001 per share, is quoted on the OTCQB Venture Market under the symbol ZVSA.

ZyVersa Therapeutics, Inc. (ZVSA) filed a current report to announce that it released a press release with its unaudited financial results for the quarter ended September 30, 2025. The press release is included as Exhibit 99.1 and is being furnished rather than filed, which means it is not automatically subject to certain liability provisions under the securities laws or incorporated into other securities filings unless specifically referenced. The company’s common stock, par value $0.0001 per share, trades under the symbol ZVSA and is quoted on the OTCQB Venture Market.

ZyVersa Therapeutics, Inc. reported a sharply higher Q3 2025 loss driven by a major write-down of R&D assets and continued cash burn. Net loss for the quarter was $19.8 million versus $2.4 million a year earlier, and $24.3 million for the nine months versus $8.0 million, largely due to an $18.6 million impairment of in-process research and development after a sustained decline in market capitalization.

Operating expenses rose to $20.8 million in Q3 2025 from $2.3 million, while research and development and general and administrative costs both declined year over year. Cash was $0.5 million at September 30, 2025, with a working capital deficit of $11.8 million and an accumulated deficit of $136.9 million. The company used $4.7 million of cash in operations over nine months and raised $3.7 million via a March 2025 private warrant placement and a July 2025 warrant inducement.

Management states that these conditions raise substantial doubt about ZyVersa’s ability to continue as a going concern. In July 2025, Nasdaq denied continued listing, and the common stock was delisted on October 6, 2025; trading moved to the OTCQB under the symbol ZVSA.

ZyVersa Therapeutics filed a Form 12b-25, indicating it cannot submit its Quarterly Report on Form 10‑Q for the quarter ended September 30, 2025 without unreasonable effort or expense. The company expects to file within the five‑day extension period permitted under Rule 12b‑25.

The company stated it is completing management’s review of its quarter‑end consolidated financial statements and related disclosures. It also disclosed that the results to be included in the Form 10‑Q will reflect significant changes in net loss from the prior‑year period due to an $18.6 million non‑cash impairment charge related to in‑process research and development. Forward‑looking statements caution that actual timing and outcomes may differ.

ZyVersa Therapeutics announced a leadership change. On October 10, 2025, Pablo Guzman, M.D., resigned as Chief Medical Officer and Senior Vice President of Medical Affairs. Dr. Guzman joined the company in January 2015 after more than 35 years practicing interventional cardiology in South Florida and serving as a managing partner of Cardiology Associates of Fort Lauderdale. The company states he resigned to spend more time with his family and to travel.