Scilex Holding Company Generates Monthly Revenue In November 2023 And Provides Certain Preliminary Unaudited Financial Results For Gross And Net Sales For The One Month Ended November 2023, And Year-To-Date Through November 30, 2023
Portfolio Pulse from Benzinga Newsdesk
Scilex Holding Company (NASDAQ:SCLX) reported significant growth in both gross and net sales for November 2023 and year-to-date through November 30, 2023. ZTlido, their non-opioid pain management product, showed gross sales between $14.0 million to $15.0 million for November, with a projected annual growth of 46% to 56%. Net sales for November ranged from $3.9 million to $4.5 million, indicating a potential annual increase of 16% to 32%. Overall, the company's total product gross and net sales also exhibited substantial growth compared to the previous year.
December 01, 2023 | 2:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Scilex Holding Company reported strong sales growth for November 2023, with ZTlido gross sales up to $15M and net sales up to $4.5M. Year-to-date growth is also robust, indicating a positive trend.
The reported growth in sales for Scilex's product ZTlido suggests a strong performance and positive market acceptance. This is likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price. The substantial year-over-year growth in both gross and net sales indicates a solid upward trend, which is critical information for investors. The confidence score is not at the maximum due to the preliminary and unaudited nature of the financial results.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100