Here are the 10-K annual reports from Semnur Pharms Inc WTS (SMNRW) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow SMNRW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SMNRW filings page.
Semnur Pharmaceuticals, Inc. is a late-stage clinical biopharmaceutical company developing non-opioid pain treatments, led by SP-102, a viscous dexamethasone gel for epidural injection in sciatica. A pivotal Phase 3 CLEAR-1 trial in 401 patients met its primary and most secondary endpoints, showing statistically significant and clinically meaningful pain and disability improvements versus placebo with a favorable safety profile.
The company began its second Phase 3 CLEAR-2 trial in September 2025, targeting about 700 patients and aiming for a 505(b)(2) NDA filing by 2027 and a potential U.S. launch in 2028, if approved. Semnur operates as a reverse‑recapitalized successor to Denali Capital Acquisition Corp., leverages Scilex’s commercial infrastructure, and highlights a large U.S. epidural steroid injection market, where independent research projects potential SP-102 peak annual sales of $1.5–$2.0 billion by year five post‑launch.