Scilex Explores Strategic Options, Analyst Initiates On Blockbuster Potential For Sciatica Pain Candidate
Portfolio Pulse from Vandana Singh
Scilex Holding Company (NASDAQ:SCLX) is exploring strategic options, including a potential spinoff or dividend distribution. The company is also considering listing its securities outside the U.S. Scilex has three FDA-approved products and a promising Phase 3 candidate, SEMDEXA, which could become a blockbuster treatment for sciatica. Alliance Global Partners initiated coverage with a Buy rating and a $14 price target. Scilex's stock rose 6.5% following the news.
October 16, 2024 | 7:07 pm
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Denali Capital Acquisition Corp. (NASDAQ:DECA) is involved in a proposed business combination with Semnur Pharmaceuticals, a subsidiary of Scilex. This could impact DECA's future business prospects.
The proposed business combination with Semnur Pharmaceuticals could influence DECA's future business prospects. However, the direct impact on DECA's stock price is less certain compared to Scilex.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Scilex Holding Company is exploring strategic options, including a potential spinoff or dividend distribution. The company is also considering listing its securities outside the U.S. Scilex's Phase 3 candidate, SEMDEXA, could become a blockbuster treatment for sciatica, with potential sales of $1.2 billion by 2030. Alliance Global Partners initiated coverage with a Buy rating and a $14 price target.
The exploration of strategic options, including a potential spinoff or dividend distribution, could unlock value for shareholders. The potential blockbuster status of SEMDEXA adds significant growth potential. The Buy rating and price target from Alliance Global Partners further support a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100