Scilex Sells ZTlido Rights, Secures Cash Infusion

TL;DR

Scilex selling ZTlido rights to a third party, closing Q3 2024.

AI Summary

Scilex Holding Company announced on June 28, 2024, that it has entered into a definitive agreement to sell its U.S. commercial rights for its non-opioid pain management product, ZTlido, to a third party. The transaction is expected to close in the third quarter of 2024 and will provide Scilex with a significant cash infusion, though the exact dollar amount was not disclosed in this filing.

Why It Matters

This divestiture of a key commercial asset suggests a strategic shift for Scilex, potentially aimed at improving its financial position or focusing on other areas of its business.

Risk Assessment

Risk Level: medium — The sale of a commercial asset indicates potential financial pressures or a strategic pivot, which carries inherent business risks.

Key Players & Entities

• Scilex Holding Company (company) — Registrant
• ZTlido (product) — Non-opioid pain management product
• June 28, 2024 (date) — Date of Report
• Third Quarter of 2024 (date) — Expected closing period for the transaction

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share SCLX The Nasdaq Stock Mar
• $11.50 — mon stock, each at an exercise price of $11.50 per share SCLXW The Nasdaq Stock Ma

Filing Documents

• sclx-20240628.htm (8-K) — 38KB
• 0000950170-24-078800.txt ( ) — 186KB
• sclx-20240628.xsd (EX-101.SCH) — 49KB
• sclx-20240628_htm.xml (XML) — 6KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. As previously disclosed, the Board of Directors (the "Board") of Scilex Holding Company (the "Company") approved a resolution to authorize management to explore ways in which to maximize the value of Semnur Pharmaceuticals, Inc. ("Semnur"), the Company's wholly owned subsidiary, and SP-102 (SEMDEXA ), the product candidate held by Semnur, for the Company and its stockholders, including by way of conducting a spin-off, merger, dividend, reclassification or other similar transaction (each, a "Potential Transaction"). On June 28, 2024, the Board approved a resolution to authorize a potential dividend of up to 10% of the Company's ownership interest in Semnur in connection with any such Potential Transaction, subject to the registration of Semnur's common stock (or such securities, property or other assets into which or for which such stock may be exchanged or converted in such Potential Transaction) with the Securities and Exchange Commission. No record date has been established for such dividend as the Company continues to explore Potential Transactions and to the extent such dividend is declared in connection with a Potential Transaction or otherwise, the Company will make such disclosures as may be required under applicable law and the rules of The Nasdaq Stock Market LLC. The information under this Item 7.01 of this Current Report is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing. This Current Report will not be deemed an admission as to the materiality of any information required to be disclosed solely to

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SCILEX HOLDING COMPANY By: /s/ Jaisim Shah Name: Jaisim Shah Date: June 28, 2024 Title: Chief Executive Officer and President 3

View Full Filing

View this 8-K filing on SEC EDGAR