Scilex Holding Company Generates Record Monthly Revenue In October 2023 And Provides Certain Preliminary Unaudited Financial Results For Gross And Net Sales For The One Month Ended October 2023, And Year-To-Date Through October 31, 2023
Portfolio Pulse from Benzinga Newsdesk
Scilex Holding Company (NASDAQ:SCLX) announced record monthly revenue in October 2023 for its non-opioid pain management product, ZTlido. The company reported gross sales for October 2023 in the range of $14.5 million to $15.5 million, and year-to-date gross sales through October 2023 in the range of $110.0 million to $120.0 million, representing a growth of 47% to 60% compared to the same period in 2022. Net sales for October 2023 were in the range of $4.0 million to $5.0 million, with year-to-date net sales through October 2023 in the range of $35.0 million to $40.0 million, representing a growth of 15% to 32% compared to the same period in 2022.
November 01, 2023 | 1:23 pm
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Scilex Holding Company reported record monthly revenue in October 2023 for its product ZTlido, with significant growth in gross and net sales compared to the same period in 2022.
The announcement of record monthly revenue and significant growth in gross and net sales for Scilex Holding Company's product ZTlido is likely to have a positive impact on the company's stock price in the short term. Investors may interpret this as a sign of strong financial performance and increased demand for the company's product, which could lead to increased buying pressure for the stock.
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