Scilex Holding Company Regains Compliance with NASDAQ Minimum Bid Price Rule

Rhea-AI Summary

Scilex Holding Company has successfully regained compliance with Nasdaq's minimum bid price requirement. The company, trading under the symbol SCLX, met the crucial requirement of maintaining a minimum closing bid price of $1.00 per share for at least ten consecutive trading days, achieving this milestone on April 30, 2025.

As a result, Scilex will continue trading on the Nasdaq Capital Market under the symbols "SCLX" for common stock and "SCLXW" for public warrants. The company specializes in non-opioid pain management products, focusing on treatments for acute and chronic pain, along with neurodegenerative and cardiometabolic diseases.

This compliance achievement ensures Scilex maintains its position on the Nasdaq exchange, providing stability for this revenue-generating pharmaceutical company that develops and commercializes innovative pain management solutions.

Positive

• Regained Nasdaq compliance by maintaining $1.00 minimum bid price
• Company remains listed on Nasdaq Capital Market
• Company is revenue-generating

Negative

• Previous trading price was below $1.00, indicating recent stock performance issues
• Required compliance monitoring period suggests previous financial/market challenges

Insights

Financial Markets Analyst

Scilex's Nasdaq compliance renewal removes delisting risk but represents meeting minimum standards rather than business improvement.

Scilex Holding Company has successfully regained compliance with Nasdaq's minimum bid price requirement by maintaining a share price above $1.00 for ten consecutive trading days through April 30, 2025. This regulatory development eliminates an immediate existential threat to the company's public market status.

Maintaining a Nasdaq listing provides concrete benefits compared to the alternative scenario:

• Preservation of trading liquidity that would be significantly diminished on over-the-counter markets
• Continued eligibility for inclusion in market indexes tracking Nasdaq-listed companies
• Retention of institutional investor access, as many funds have mandates preventing investment in non-listed securities
• Ongoing visibility to market participants and financial media

However, this compliance renewal represents meeting a minimum threshold requirement rather than a performance achievement. The article provides no information about how this compliance was achieved—whether through organic price appreciation driven by fundamental business improvements or through corporate actions like a reverse stock split.

For context, companies facing listing standard challenges often go through a multi-stage process: initial notification of non-compliance, a compliance period (typically 180 days), potential extension periods, and ultimately either regaining compliance or delisting. Scilex has successfully navigated this regulatory challenge, which removes uncertainty about its listing status in the immediate term.

PALO ALTO, Calif., April 30, 2025 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease, today announced that it has received notification from The Nasdaq Stock Market LLC that the Company has regained compliance with the minimum closing bid price requirement under Nasdaq Listing Rule 5550(a)(2). To regain compliance, the Company was required to maintain a minimum closing bid price of $1.00 per share for at least ten consecutive trading days. This requirement was met on April 30, 2025.

The Company’s common stock and public warrants will continue to trade on the Nasdaq Capital Market under the symbols “SCLX” and “SCLXW”, respectively.

For more information on Scilex Holding Company, refer to www.scilexholding.com

For more information on Semnur Pharmaceuticals, Inc., refer to www.semnurpharma.com

For more information on ZTlido® including Full Prescribing Information, refer to www.ztlido.com.

For more information on ELYXYB®, including Full Prescribing Information, refer to www.elyxyb.com.

For more information on Gloperba®, including Full Prescribing Information, refer to www.gloperba.com.

https://www.facebook.com/scilex.pharm

https://www.linkedin.com/company/scilex-holding-company/

info@scilexholding.com

About Scilex Holding Company

Scilex Holding Company is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease. Scilex targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and is dedicated to advancing and improving patient outcomes. Scilex’s commercial products include: (i) ZTlido® (lidocaine topical system) 1.8%, a prescription lidocaine topical product approved by the U.S. Food and Drug Administration (the “FDA”) for the relief of neuropathic pain associated with postherpetic neuralgia, which is a form of post-shingles nerve pain; (ii) ELYXYB®, a potential first-line treatment and the only FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults; and (iii) Gloperba®, the first and only liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults.

In addition, Scilex has three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (“SEMDEXA” or “SP-102”), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, for which Scilex has completed a Phase 3 study and was granted Fast Track status from the FDA in 2017; (ii) SP-103 (lidocaine topical system) 5.4%, (“SP-103”), a next-generation, triple-strength formulation of ZTlido, for the treatment of acute pain and for which Scilex has recently completed a Phase 2 trial in acute low back pain. SP-103 has been granted Fast Track status from the FDA in low back pain; and (iii) SP-104 (4.5 mg, low-dose naltrexone hydrochloride delayed-release capsules) (“SP-104”), a novel low-dose delayed-release naltrexone hydrochloride being developed for the treatment of fibromyalgia.

Scilex Holding Company is headquartered in Palo Alto, California.

Forward-Looking Statements

This press release and any statements made for and during any presentation or meeting concerning the matters discussed in this press release contain forward-looking statements related to Scilex and its subsidiaries under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding Scilex’s potential development and commercialization of treatments for obesity, neurodegenerative, cardiometabolic disease.

Risks and uncertainties that could cause Scilex’s actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to: Scilex’s ability to remain in compliance with the Nasdaq continued listing requirements and to maintain the listing of the Company’s securities thereon; Scilex’s ability to develop and commercialize treatments for obesity, neurodegenerative, cardiometabolic disease; risks associated with the unpredictability of trading markets and whether a market will be established for Scilex’s common stock; general economic, political and business conditions; risks related to COVID-19 (and other similar disruptions); the risk that the potential product candidates that Scilex develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; risks relating to uncertainty regarding the regulatory pathway for Scilex’s product candidates; the risk that Scilex will be unable to successfully market or gain market acceptance of its product candidates; the risk that Scilex’s product candidates may not be beneficial to patients or successfully commercialized; the risk that Scilex has overestimated the size of the target patient population, their willingness to try new therapies and the willingness of physicians to prescribe these therapies; risks that the outcome of the trials and studies for SP-102, SP-103 or SP-104 may not be successful or reflect positive outcomes; risks that the prior results of the clinical and investigator-initiated trials of SP-102 (SEMDEXA™), SP-103 or SP-104 may not be replicated; regulatory and intellectual property risks; and other risks and uncertainties indicated from time to time and other risks described in Scilex’s most recent periodic reports filed with the Securities and Exchange Commission, including Scilex’s Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent Quarterly Reports on Form 10-Q that the Company has filed or may file with the SEC, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and Scilex undertakes no obligation to update any forward-looking statement in this press release except as may be required by law.

Contacts:

Investors and Media
Scilex Holding Company
960 San Antonio Road
Palo Alto, CA 94303
Office: (650) 516-4310
Email: investorrelations@scilexholding.com
Website: www.scilexholding.com

SEMDEXA™ (SP-102) is a trademark owned by Semnur Pharmaceuticals, Inc., a wholly-owned subsidiary of Scilex Holding Company. A proprietary name review by the FDA is planned.

ZTlido® is a registered trademark owned by Scilex Pharmaceuticals Inc., a wholly-owned subsidiary of Scilex Holding Company.

Gloperba® is the subject of an exclusive, transferable license to use the registered trademark by Scilex Holding Company.

ELYXYB® is a registered trademark owned by Scilex Holding Company.

All other trademarks are the property of their respective owners.

© 2025 Scilex Holding Company All Rights Reserved.

FAQ

Why did Scilex (SCLX) need to regain Nasdaq compliance in 2025?

Scilex needed to regain compliance with Nasdaq's minimum bid price rule 5550(a)(2), which requires maintaining a stock price of at least $1.00 per share. The company successfully met this requirement by maintaining the minimum price for ten consecutive trading days until April 30, 2025.

How did Scilex (SCLX) regain Nasdaq compliance in April 2025?

Scilex regained Nasdaq compliance by maintaining a minimum closing bid price of $1.00 per share for at least ten consecutive trading days, meeting this requirement on April 30, 2025.

What happens to SCLX stock after regaining Nasdaq compliance?

After regaining compliance, Scilex's common stock and public warrants will continue trading on the Nasdaq Capital Market under the symbols 'SCLX' and 'SCLXW' respectively.

What is Scilex's (SCLX) main business focus in 2025?

Scilex is a revenue-generating company focused on acquiring, developing, and commercializing non-opioid pain management products for treating acute and chronic pain, along with neurodegenerative and cardiometabolic diseases.

What products does Scilex (SCLX) currently market?

Based on the press release, Scilex markets several products including ZTlido®, ELYXYB®, and Gloperba®, each with their own dedicated product information websites.