Scilex Holding Company Provides Certain Preliminary Unaudited Financial Results For Gross And Net Sales For The One Month Ended May 2023, And Year-To-Date May 2023, Based On Currently Available Information; May 23 Net Sales $4.2M-$5.1M
Portfolio Pulse from Happy Mohamed
Scilex Holding Company (SCLX) reports preliminary unaudited financial results for May 2023, with estimated gross sales of $13.0M-$15.0M and net sales of $4.2M-$5.1M. The company is a majority-owned subsidiary of Sorrento Therapeutics (SRNEQ).
June 01, 2023 | 4:31 pm
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POSITIVE IMPACT
Scilex Holding Company reports strong preliminary financial results for May 2023, with estimated gross sales growth of 53%-76% and net sales growth of 50%-82%.
The strong preliminary financial results for Scilex Holding Company indicate a positive impact on its stock price in the short term. The significant growth in both gross and net sales suggests that the company is performing well and could attract investor interest.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sorrento Therapeutics, the majority owner of Scilex Holding Company, may benefit from Scilex's strong preliminary financial results for May 2023.
As the majority owner of Scilex Holding Company, Sorrento Therapeutics stands to benefit from Scilex's strong preliminary financial results. The significant growth in Scilex's gross and net sales may have a positive impact on Sorrento Therapeutics' stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80