Scilex Holding Company is a biopharmaceutical company focused on developing and commercializing innovative pain management therapies
The company leverages advanced science and technology to create novel medical solutions aimed at improving the quality of life for patients suffering from acute and chronic pain conditions. With a commitment to addressing unmet medical needs, Scilex prioritizes the development of safe and effective therapeutic options, contributing to the evolving landscape of pain management in healthcare.
NEW YORK, NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Denali Capital Acquisition Corp. (NASDAQDECA) (the “Company”) announced today that it has deposited into the Company’s trust account (the “Trust Account”) an aggregate of $15,063.74 to fund the one-month extension from January 11, 2025 to February 11, 2025. This deposit was funded via a convertible promissory note with a principal amount of up to $180,000 issued by the Company to Scilex Holding Company (Nasdaq: SCLX, “Scilex”), which bears no interest and is repayable on the earlier of the effective date of the consummation of the Company’s initial business combination or the date of the liquidation of the Company. Upon the closing of a business combination, the note is convertible, at Scilex’s discretion, into the Company’s Class A ordinary shares at a conversion price of $10.00 per share. Any future drawdowns of the remaining $89,672.56 principal amount available under the convertible promissory note are expected to fund future one-month extensions as necessary to provide additional time for the Company to complete a business combination.
NEW YORK, NEW YORK, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Denali Capital Acquisition Corp. (NASDAQDECA) (the “Company”) announced today that it has deposited into the Company’s trust account (the “Trust Account”) an aggregate of $15,063.74 to fund the one-month extension from November 11, 2024, to December 11, 2024. This deposit was funded via a convertible promissory note with a principal amount of up to $180,000 issued by the Company to Scilex Holding Company (Nasdaq: SCLX, “Scilex”), which bears no interest and is repayable on the earlier of the effective date of the consummation of the Company’s initial business combination or the date of the liquidation of the Company. Upon the closing of a business combination, the note is convertible, at Scilex’s discretion, into the Company’s Class A ordinary shares at a conversion price of $10.00 per share. Any future drawdowns of the remaining $119,772.04 principal amount available under the convertible promissory note are expected to fund future one-month extensions as necessary to provide additional time for the Company to complete a business combination.
Alliance Global Partners has initiated coverage on Scilex Holding Company. The company explores strategic options for its subsidiary, Scilex Pharma, including potential spinoffs and dividend distributions, while anticipating significant sales from its pain treatment candidate, SEMDEXA.
NEW YORK, NEW YORK, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Semnur Pharmaceuticals, Inc. (“Semnur”), a wholly owned subsidiary of Scilex Holding Company (Nasdaq: SCLX, “Scilex”), 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 Denali Capital Acquisition Corp., a Cayman Islands exempted company and special purpose acquisition company (Nasdaq: DECA, the “SPAC”), today announced the signing of an agreement and plan of merger for a proposed business combination , by and among Semnur, the SPAC and Denali Merger Sub Inc., a Delaware Corporation and wholly owned subsidiary of the SPAC, which provides for a pre-transaction equity value of Semnur at $2.5 billion. Prior to the closing of the transaction, the SPAC will be redomesticated as a Delaware corporation. Upon closing of the transaction, the combined company (the “Combined Company”) will be renamed Semnur Pharmaceuticals, Inc., and its common stock and warrants are expected to be listed on Nasdaq under the ticker symbols “SMNR” and “SMNRW”, respectively. The boards of directors of each of the SPAC, Semnur and Scilex have unanimously approved the proposed transaction. The closing of the transaction, which is expected to occur by the first quarter of 2025, is subject to the approval of the SPAC’s shareholders, any applicable regulatory approval, and the satisfaction or waiver of certain other closing conditions.
Semnur Pharmaceuticals, a subsidiary of Scilex, plans a business combination with Denali Capital Acquisition Corp. Semnur's lead product, SP-102 (SEMDEXA), a novel non-opioid pain therapy for sciatica, has shown promising Phase 3 trial results.
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 1% on Friday. The Dow traded up 0.23% to 39,084.47 while the NASDAQ rose 1.22% to 16,287.91. The S&P 500 also rose, gaining, 0.78% to 5,135.86.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 100 points on Friday. The Dow traded up 0.02% to 39,005.87 while the NASDAQ rose 0.63% to 16,193.95. The S&P 500 also rose, gaining, 0.40% to 5,116.75.
U.S. stocks traded mixed this morning, with the Dow Jones falling around 40 points on Friday. Following the market opening Friday, the Dow traded down 0.11% to 38,954.76 while the NASDAQ rose 0.11% to 16,109.20. The S&P 500 also rose, gaining, 0.04% to 5,098.24.
Shares of NetApp, Inc. (NASDAQNTAP) shares rose sharply in today’s pre-market trading after the company reported better-than-expected third-quarter financial results and issued guidance.
Shares of FLJ Group Limited (NASDAQFLJ) shares jumped during Friday’s session after the company announced it entered into a definitive agreement to acquire Alpha Mind Technology. FLJ Group shares jumped 96.4% to $0.2123 on Friday.
