Non-Opioid Pain Therapy-Focused Semnur Pharmaceuticals Strikes $2B SPAC Deal For NASDAQ Debut
Portfolio Pulse from Vandana Singh
Semnur Pharmaceuticals, a subsidiary of Scilex Holding Company (NASDAQ:SCLX), has signed a $2 billion SPAC deal with Denali Capital Acquisition Corp. (NASDAQ:DECA) to go public. Semnur focuses on non-opioid pain therapies and has a promising lead program, SP-102 (SEMDEXA), which has shown positive Phase 3 trial results for treating sciatica. The deal is expected to be completed in the second half of 2024, with potential peak sales of $3.6 billion annually.
July 03, 2024 | 2:51 pm
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Denali Capital Acquisition Corp. (NASDAQ:DECA) has signed a letter of intent for a $2 billion business combination with Semnur Pharmaceuticals. The deal will bring Semnur's non-opioid pain therapy, SP-102, to market, pending shareholder approval in the second half of 2024.
The SPAC deal with Semnur Pharmaceuticals is a significant move for Denali Capital Acquisition Corp. The potential high sales and the innovative nature of SP-102 are likely to positively impact DECA's stock in the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Scilex Holding Company (NASDAQ:SCLX) is seeing positive momentum as its subsidiary, Semnur Pharmaceuticals, signs a $2 billion SPAC deal with Denali Capital Acquisition Corp. The deal will help bring Semnur's promising non-opioid pain therapy, SP-102, to market.
The SPAC deal and the promising Phase 3 results for SP-102 are significant positive developments for Scilex Holding Company. The market has already reacted positively, with shares up 5.18%. The potential for high sales and the non-opioid nature of the therapy add to the positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100