Scilex shares are trading higher after the company's Semnur Pharmaceuticals subsidiary signed a letter of intent for a proposed business combination with Denali Capital Acquisition Corp.
Portfolio Pulse from Benzinga Newsdesk
Scilex shares are trading higher after its subsidiary, Semnur Pharmaceuticals, signed a letter of intent for a proposed business combination with Denali Capital Acquisition Corp.
July 03, 2024 | 11:33 am
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Scilex shares are trading higher following the announcement that its subsidiary, Semnur Pharmaceuticals, has signed a letter of intent for a proposed business combination with Denali Capital Acquisition Corp.
The news of a potential business combination involving Scilex's subsidiary is likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100