Streetbeat News

SCLX

Scilex Holding Company

https://www.scilexholding.com

Industry

Drug Manufacturers - General

Scilex Holding Company, a biopharmaceutical company, focuses on developing and commercializing non-opioid management products for the treatment of acute and chronic pain. Its commercial product is ZTlido 1.8%, a prescription lidocaine topical product for the relief of neuropathic pain related with post-herpetic neuralgia, which is a form of post-shingles nerve pain. It also offers SP-102, a viscous gel formulation of corticosteroid for epidural injections that is in a Phase III clinical trial to treat lumbosacral radicular pain; SP-103, which is in Phase II clinical trail for the treatment of low back pain; and SP-104, a novel low-dose delayed-release naltrexone hydrochloride formulation that has completed Phase I clinical trial for the treatment of fibromyalgia. The company is headquartered in Palo Alto, California. Scilex Holding Company is a subsidiary of Sorrento Therapeutics, Inc.

Open

0.67

Mkt cap

117M

Volume

High

0.68

P/E Ratio

-0.46

52-wk high

2.63

Low

0.54

Div yield

N/A

52-wk low

0.54

Scilex Holding Company (NASDAQ:SCLX) has submitted a request to the Securities and Exchange Commission (SEC) to withdraw its Registration Statement on Form S-1 (File No. 333-271401). The Registration Statement had not been declared effective by the SEC, and no securities had been sold pursuant to the Registration Statement.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 1:10 pm

Scilex Holding Company announced that the State of Indiana Medicaid will add Elyxyb, a drug developed by the company, to its Preferred Drug List effective from October 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 1:03 pm

Oramed Pharmaceuticals has secured a $101.9M senior secured note deal with Scilex. The deal includes an 18-month maturity, an interest rate equal to the SOFR plus 8.5%, and a repayment commencement date of December 21, 2023. If the note is not fully repaid by March 21, 2024, an exit fee of $3,056,250 becomes payable. Oramed also has the right to designate an observer to Scilex's Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 5:35 am

Scilex Holding Company (SCLX) has completed the purchase of securities from Sorrento Therapeutics (SRNEQ). As part of the deal, Scilex assumed approximately $100 million in debt owed by Sorrento to Oramed Pharmaceuticals (ORMP) and issued a promissory note and warrants to Oramed. The total consideration for the securities transfer included $110 million, legal fees and expenses of $12.25 million, and a credit bid of all amounts owed to Scilex under a financing facility provided to Sorrento.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:16 pm

Scilex Holding Company (NASDAQ:SCLX) has completed the purchase of all Scilex common shares, preferred shares, and warrants owned by Sorrento Therapeutics, Inc. (OTC:SRNEQ). The deal, which was previously announced, includes a $110 million payment, assumption of $100 million in Sorrento's debt, and legal fees of approximately $12.25 million.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:15 pm

The article lists four health care stocks that are currently oversold and could present buying opportunities. These include Scilex Holding Company (SCLX), Sight Sciences, Inc. (SGHT), Tenaya Therapeutics, Inc. (TNYA), and Turnstone Biologics Corp. (TSBX). All four companies have a Relative Strength Index (RSI) below 30, indicating they are oversold.

Portfolio Pulse from Lisa Levin

September 21, 2023 | 9:11 am

Several stocks experienced significant movement in Monday's mid-day session. Notably, Nikola Corporation's shares rose by 33% following the appointment of a new chief operating officer. Other gainers included SCWorx Corp., Avinger, Inc., SeqLL Inc., and Perspective Therapeutics, Inc. On the other hand, stocks such as Earlyworks Co., Ltd, STRATA Skin Sciences, Inc., AERWINS Technologies Inc., and MSP Recovery, Inc. saw a dip in their share prices.

Portfolio Pulse from Lisa Levin

September 18, 2023 | 5:25 pm

Scilex shares are trading lower after a surge on Friday.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 4:52 pm

Several US stocks recorded losses on Monday, including Scilex Holding Company, Canopy Growth Corporation, Nuvalent, DocGo, GigaCloud Technology, Eos Energy Enterprises, Unity Software, FingerMotion, Rumble, Butterfly Network, Couchbase, Caribou Biosciences, Moderna, Lexicon Pharmaceuticals, Wayfair, The Gap, Viking Therapeutics, AMC Entertainment Holdings, Tellurian, MINISO Group Holding, and Arm Holdings.

Portfolio Pulse from Lisa Levin

September 18, 2023 | 3:08 pm

Scilex Pharmaceuticals has completed its SP-103 Phase 2 study, which evaluates the safety and efficacy of its product in subjects with acute lower back pain (LBP). This has led to an increase in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 5:51 pm

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