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Scilex Holding Company - $SCLX STOCK NEWS

Welcome to our dedicated page for Scilex Holding Company news (Ticker: $SCLX), a resource for investors and traders seeking the latest updates and insights on Scilex Holding Company stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Scilex Holding Company's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Scilex Holding Company's position in the market.

Rhea-AI Summary

Scilex Holding Company (Nasdaq: SCLX) has sent letters to the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) regarding illegal market manipulation of its common stock. The company alleges that manipulative practices such as 'naked short selling' are being used to devalue its stock, violating SEC Regulation SHO. Scilex Management is committed to combating these illegal activities to protect shareholder value and rights. Copies of the letters can be accessed via the provided links.

Rhea-AI Impact
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End-of-Day
-2.63%
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Rhea-AI Summary

Scilex Holding Company (Nasdaq: SCLX) announced it will be added to the MSCI Global Micro Cap Index effective May 31, 2024. This inclusion is expected to enhance visibility for Scilex’s non-opioid pain management therapeutics within global financial markets. MSCI, a leading provider of research and data for investment decision support, acknowledged Scilex’s progress over the past year. The company focuses on developing and commercializing products for acute and chronic pain management and has seen strong investor interest in its innovative clinical-stage portfolio.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.67%
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Rhea-AI Summary

Scilex Holding Company (Nasdaq: SCLX) has sent a letter to the U.S. House of Representatives regarding illegal market manipulation of its common stock. The company highlights concerns over 'naked short' selling or maintaining 'naked short' positions, which may violate SEC Regulation SHO. These practices are believed to reduce shareholder value and infringe upon shareholders' rights. Scilex is committed to combating this manipulative and illegal short selling to protect its stock and shareholder interests. Further details can be accessed on Scilex's official website.

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Rhea-AI Sentiment
End-of-Day
3.67%
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Scilex Holding Company (Nasdaq: SCLX) announced final court approval of a settlement agreement with Takeda Pharmaceuticals, resolving a patent infringement lawsuit related to Scilex's intention to expand the label for its liquid colchicine product, Gloperba®. The U.S. District Court for the District of Delaware approved the settlement, allowing Scilex a non-exclusive license to certain Takeda patents. Following this, Scilex requested the FDA convert its tentative approval of the expanded Gloperba® label to final approval.

The expanded label aims to address unmet medical needs, offering specific dosing guidance for patients with renal impairment. Market research shows high interest among rheumatologists for Gloperba®'s precision dosing capabilities. The expanded label would provide dosing flexibility and personalized adjustment options for patients, aligning with American College of Rheumatology guidelines.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.62%
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Rhea-AI Summary

Scilex Holding Company is taking steps to combat manipulative and naked short selling practices in its common stock. The company provided information to its stockholders regarding short selling activities. Scilex believes there are approximately 10 million shares being sold short and more than 10 million Dividend Shares sold as 'naked short' positions. It is determined to protect shareholder value and rights by addressing these practices.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.05%
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Rhea-AI Summary
Scilex Holding Company (Nasdaq: SCLX) has successfully closed a $15 million registered direct offering, consisting of 15,000,000 shares of common stock and warrants. The offering was priced at $1.00 per share, with warrants exercisable at $1.10 per share. The gross proceeds were $15 million before fees. The company plans to use the funds for various purposes, including working capital, research and development, and potential acquisitions.
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2.32%
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Scilex Holding Company, a revenue-generating company focusing on non-opioid pain management products, announces a $15 million registered direct offering. The offering includes the sale of 15,000,000 shares of common stock and warrants at $1.00 per share, with an exercise price of $1.10 per share. Rodman & Renshaw is the exclusive placement agent.
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-13%
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Scilex Holding Company reported strong preliminary unaudited financial results for ZTlido® in the first quarter of 2024, with gross sales between $34.0 million to $38.0 million and net sales between $12.0 million to $13.0 million, showing significant growth compared to the same period in 2023. The company also announced plans to reduce R&D and administrative expenses in 2024 while focusing on expanding commercial activities and product production.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.38%
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Scilex Holding Company launches co-pay programs for ZTlido® and ELYXYB® for commercially insured patients, with out-of-pocket costs capped at $25 monthly. Multi-State Medicaid Pharmaceutical Purchasing Group adds ELYXYB® to its purchasing pool. Scilex aims to improve patient affordability and access to non-opioid pain management products.
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Rhea-AI Sentiment
End-of-Day
-2.16%
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Scilex Holding Company (SCLX) announced the extension of the lock-up period for the shares of common stock previously distributed by Sorrento Therapeutics, Inc. The Court approved the extension to September 30, 2024, or until certain claims are resolved. This extension prohibits the sale, transfer, or disposal of the Dividend Stock.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.62%
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Scilex Holding Company

Nasdaq:SCLX

SCLX Rankings

SCLX Stock Data

130.81M
43.43M
37.7%
16%
6.2%
Medicinal and Botanical Manufacturing
Manufacturing
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United States of America
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