Scilex Holding Preliminary Q1 Net Sales For ZTlido Were $12M-$13M; Q1 Gross Sales For ZTlido Were $34M-$38M; Implements Planned 2024 Commercial Ramp for Additional Opioid Sparing Product and Reduction of R&D and Other Administrative Expenses
Portfolio Pulse from Benzinga Newsdesk
Scilex Holding Company (SCLX) reported preliminary Q1 net sales for ZTlido of $12M-$13M and gross sales of $34M-$38M, indicating significant growth from the previous year. The company plans to reduce R&D and administrative expenses in 2024 while ramping up commercial activities for its non-opioid pain management products, including the anticipated launch of Gloperba. Additionally, Scilex resolved a co-pay savings card processing issue caused by a cyber-attack on Change Healthcare.
April 16, 2024 | 1:08 pm
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Scilex Holding reported strong preliminary Q1 sales for ZTlido and plans to reduce expenses while expanding its product line, including launching Gloperba in 2024. Resolved co-pay card issue after Change Healthcare cyber-attack.
The reported growth in sales for ZTlido and the strategic focus on reducing expenses while expanding the product line, including the anticipated launch of Gloperba, indicate a positive outlook for SCLX. The resolution of the co-pay card processing issue also removes a potential barrier to sales, further supporting a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100