Scilex Holding Co - SCLX STOCK NEWS

Scilex Holding Company (NASDAQ: SCLX) has received FDA approval for Orphan Drug Designation for colchicine in treating pericarditis. Their product Gloperba®, the first and only liquid oral colchicine, is currently indicated for gout flare prophylaxis in adults.

Gloperba® is administered like cough syrup with a dosage of 0.6mg per 5ml, offering advantages for patients who struggle with pills. The liquid format enables more flexible dosing and titration options, particularly beneficial for gout patients with renal or hepatic impairment.

The Orphan Drug Designation applies to conditions affecting fewer than 200,000 individuals in the US. If approved, it would grant seven years of market exclusivity for treating pericarditis, an inflammatory condition of the heart's protective membrane.

Scilex Holding Company (NASDAQ: SCLX) has received approval from Health Canada for ELYXYB®, their ready-to-use oral solution for acute migraine treatment. ELYXYB® is the only FDA-approved oral solution in its category and demonstrates pain relief in as fast as 15 minutes, with significant relief compared to placebo within 45 minutes in approximately 50% of patients.

The Canadian market represents a significant opportunity, with over 2.7 million Canadians affected by migraines and the migraine therapeutics market projected to reach $400 million by 2025. The drug, which is manufactured in Canada, offers a first-line treatment option with potentially lower gastrointestinal side effects compared to other NSAIDs.

Scilex Holding Company (SCLX) has announced a 1-for-35 reverse stock split effective April 15, 2025, aimed at regaining compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The split will reduce outstanding shares from approximately 243 million to 6.9 million.

The company's common stock will continue trading on Nasdaq under the symbol 'SCLX' with a new CUSIP number (80880W 205). No fractional shares will be issued; instead, affected stockholders will receive cash payments. The split will also apply to outstanding warrants, Series A Preferred Stock, convertible notes, and stock options, with proportionate adjustments to exercise and conversion prices.

This decision follows stockholder approval at a special meeting on March 19, 2025, where the board received authority to select a ratio between 1-for-14 and 1-for-50 shares.

Scilex Holding Company (NASDAQ: SCLX) has appealed a lower court decision to the U.S. Court of Appeals for the Federal Circuit regarding its patent infringement lawsuit against Aveva Drug Delivery Systems. The case stems from May 2022, when Aveva submitted an Abbreviated New Drug Application (ANDA) to the FDA with a Paragraph IV notice concerning Scilex's ZTlido patents.

Initially filed in June 2022 at the U.S. District Court for the Southern District of Florida, the lawsuit alleged infringement of Scilex's Orange Book-listed patents for ZTlido. Following a trial in July 2024, the District Court ruled that Aveva's proposed product did not infringe Scilex's patents. The company is now vigorously pursuing an appellate review, with CEO Jaisim Shah expressing confidence in the strength of ZTlido's intellectual property portfolio.

Scilex Holding Company (SCLX) has announced a change in the record date for its previously declared preferred stock dividend. The dividend, which represents up to 10% of Scilex's ownership interest in its wholly owned subsidiary Semnur Pharmaceuticals, will now have a record date of April 11, 2025, instead of the previously announced January 28, 2025.

The payment date will be determined by the Board of Directors within 60 days following the new record date. The company maintains the right to further adjust the record date if necessary. Scilex continues to focus on its core business of non-opioid pain management products and its planned joint venture with IPMC Company for neurodegenerative and cardiometabolic disease treatments.

Scilex Holding Company (SCLX) announced that the U.S. Bankruptcy Court for the Southern District of Texas has extended the lock-up period on Scilex Dividend Stock to April 14, 2025. This extension applies to shares previously distributed by Sorrento Therapeutics to its stockholders as a dividend on January 19, 2023.

The Court's order, issued on January 30, 2025, means that these dividend shares, including those held by brokerage firms, cannot be sold, transferred, or otherwise disposed of until the new expiration date. This restriction specifically applies only to the Dividend Stock and does not affect any other outstanding Scilex securities.

Scilex Holding Company (Nasdaq: SCLX) has announced that the U.S. FDA has acknowledged the submission of their Supplemental New Drug Application (SNDA) for ELYXYB® in the indication of acute pain. Scilex is a revenue-generating company focused on developing and commercializing non-opioid pain management products for both acute and chronic pain. The company is also exploring opportunities in neurodegenerative and cardiometabolic diseases through a proposed joint venture with IPMC Company.

Scilex Holding Company (SCLX) has announced its return to compliance with Nasdaq Listing Rule 5250(c)(1) after filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. The company, which focuses on developing non-opioid pain management products, received official notification from The Nasdaq Stock Market confirming this compliance status.

Scilex is currently expanding its focus through a proposed joint venture with IPMC Company to include treatments for neurodegenerative and cardiometabolic diseases, while maintaining its core business in acute and chronic pain management solutions. The company's product portfolio includes ZTlido®, ELYXYB®, and Gloperba®.

Scilex Holding Company (SCLX) has announced an agreement to extend the maturity date of its Senior Secured Promissory Note issued to Oramed Pharmaceuticals. The note, originally issued on September 21, 2023, will now mature on December 31, 2025, instead of the previous date of March 21, 2025.

The extension agreement includes additional covenants regarding the conduct of the Company's business. Scilex is a revenue-generating company that focuses on non-opioid pain management products for acute and chronic pain treatment. The company is also planning to expand into neurodegenerative and cardiometabolic disease treatments through a proposed joint venture with IPMC Company.