Scilex Holding Co Stock Price, News & Analysis

Semnur Pharmaceuticals, a wholly owned subsidiary of Scilex Holding Company (Nasdaq: SCLX), and Denali Capital Acquisition Corp. (Nasdaq: DECA) have signed a letter of intent for a proposed business combination. This deal values Semnur at up to $2 billion, subject to adjustments, with an expected cash on hand of up to $40 million. The business combination aims to fund the development of SP-102 (SEMDEXA™), a non-opioid corticosteroid gel for treating sciatica. The Phase 3 trial of SP-102 met key endpoints, showing significant pain reduction and safety comparable to placebo. If approved, Semnur will become a publicly traded biopharma company, and Scilex will be the majority shareholder. The transaction is pending final agreement and shareholder approval.

Scilex Holding Company (Nasdaq: SCLX), a company specializing in non-opioid pain management products, will ring the Nasdaq Closing Bell on July 5, 2024, to celebrate the launch of GLOPERBA®, the first oral liquid medicine for the prophylactic treatment of painful gout flares. CEO Jaisim Shah and Executive Chairman Henry Ji will lead the ceremony. The company’s product portfolio includes multiple FDA-approved pain management solutions, with new pipeline programs in advanced stages. This event marks Scilex’s third non-opioid product launch in five years, highlighting its strategic focus on innovative pain management solutions.

Scilex Holding Company, under the ticker SCLX, has released its preliminary unaudited financial results for June 2024 and the second quarter of 2024. ZTlido net sales in June 2024 grew by 70% to 104% year-over-year, with quarterly growth between 28% to 42%. Total product net sales for June 2024 increased 77% to 116% year-over-year, while quarterly growth ranged from 30% to 44%. ZTlido gross sales for June reached $22 million to $26 million.

Cash reserves dropped to $7 million to $10 million from $34.1 million in the previous year. Accounts receivable increased to $38 million to $40 million from $27.6 million. Operating expenses decreased to $23 million to $26 million from $31.2 million, and net loss narrowed to $15 million to $20 million from $26.6 million last year.

This data is preliminary and unaudited, and actual results may vary significantly.

Scilex Holding Company (Nasdaq: SCLX), focused on non-opioid pain management products, announced a new distribution agreement with Endeavor Distribution Endeavor, with over 10 years of logistics experience, will distribute Scilex's products nationally.

This agreement aims to enhance the commercialization of Scilex's three non-opioid products, ZTlido, ELYXYB, and Gloperba, by leveraging Endeavor's expertise in logistics and distribution. CEO Jaisim Shah emphasized that this partnership is part of Scilex's strategy to accelerate growth and successfully launch their products to specialized point-of-care customers.

Scilex Holding Company (Nasdaq: SCLX) has published the results of its Phase 3 trial for SP-102 (SEMDEXA™) in the PAIN journal. Conducted on 401 patients with lumbosacral radicular pain (sciatica), the trial achieved its primary and key secondary endpoints, showcasing significant pain reduction and improved disability scores with a safety profile comparable to a placebo. The results, first presented at the ASIPP conference in May 2022, indicate that SP-102 could become a important treatment for sciatica, which currently lacks FDA-approved therapies. The study, known as the C.L.E.A.R. trial, confirmed the safety of both single and repeat injections of SP-102, with no serious adverse events reported.

Scilex Holding Company (Nasdaq: SCLX) will present a poster on ELYXYB® (celecoxib oral solution) at the 66th Annual Scientific Meeting of the American Headache Society (AHS) in San Diego, CA, from June 13-16, 2024. The poster will highlight results from two Phase 3 clinical trials, showing ELYXYB®'s efficacy in migraine patients with insufficient response to triptans. Specifically, 33.3% of patients treated with ELYXYB® achieved 2-hour pain freedom compared to 14.3% with placebo (p=0.0036), with a 200% greater likelihood of achieving pain freedom (OR=3.0). Dr. Richard B. Lipton, Director of the Montefiore Headache Center, will be the presenting author.

For more details, visit the company's website or view the poster presentation online.

Scilex Holding Company (Nasdaq: SCLX) has entered into a commitment letter with Perigrove and Graf Holdings for a $100 million 5-year term financing with royalty-based payments. The funds will be used primarily to repay an existing $85 million senior secured loan from Oramed Pharmaceuticals, with $15 million allocated for general corporate purposes. The financing includes the issuance of a warrant to purchase up to 32.5 million shares of Scilex's common stock at $1.20 per share. If the Commitment is not funded, the deposit will convert into an unsecured loan with a 5-year maturity and an interest rate based on either a percentage of net sales or 12% per year. This financing aims to eliminate existing debt and improve Scilex's cash position, allowing for reinvestment in their commercial products.

Scilex Holding Company, trading on Nasdaq under SCLX, announced the launch of its third commercial product, GLOPERBA®, on June 10, 2024. GLOPERBA® is the first oral liquid medicine for the prophylaxis of gout flares. The product is now available in many national and independent pharmacy chains at a price of $595 per bottle.

Scilex is currently negotiating with additional pharmacy chains to expand distribution. The company emphasizes its commitment to making GLOPERBA® widely accessible across the U.S. Gout, which affects approximately 9.2 million Americans, presents a significant market opportunity, with the U.S. gout treatment market expected to reach $2.0 billion by 2028.

For more details, visit www.gloperba.com.

Scilex Holding Company (Nasdaq: SCLX) announced that the stocking of GLOPERBA®, its third commercial product, is underway in all wholesalers with which it has stocking arrangements throughout the U.S. The process is expected to complete by June 12, 2024. GLOPERBA® is the first and only liquid oral formulation of colchicine for the prophylaxis of gout flares in adults. Scilex has increased the production of GLOPERBA® and supports patients with a co-pay savings card. For more details, visit www.gloperba.com.