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 announced a $10 million bought deal offering, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 4:25 pm

U.S. stocks traded mixed with the Dow Jones falling and NASDAQ rising. Dell Technologies reported better-than-expected Q4 results and increased its dividend by 20%. BioVie, Adial Pharmaceuticals, and Nxu saw significant stock price increases due to positive developments. Conversely, GigCapital5, Fisker, and Scilex Holding experienced substantial declines. Oil and gold prices rose, while European and Asian markets were mostly higher.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 2:47 pm

NetApp, Inc. (NASDAQ:NTAP) shares surged by approximately 17% in pre-market trading following the announcement of better-than-expected third-quarter financial results and positive guidance. The company reported adjusted earnings of $1.94 per share, surpassing the market estimates of $1.69 per share, with quarterly sales of $1.610 billion against expectations of $1.591 billion. Other stocks also showed significant movement in pre-market trading, with notable gainers including Nxu, Inc., Minim, Inc., and Dell Technologies Inc., among others. Conversely, several companies experienced declines, such as GigCapital5, Inc., Fisker Inc., and Sidus Space, Inc.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 1:31 pm

In Friday's pre-market session, several healthcare stocks showed significant movement. Adial Pharmaceuticals, BioVie, Bone Biologics, Y-mAbs Therapeutics, Cardiff Oncology, and Biodesix experienced notable gains, with increases ranging from 17.53% to 76.0%. On the downside, Scilex Holding, Humacyte, Gritstone Bio, Precision BioSciences, Vivani Medical, and DermTech saw declines between 16.41% and 35.7%. The movements were largely attributed to recent Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 1:09 pm

Hewlett Packard Enterprise reported mixed Q1 results with earnings above and sales below market expectations, leading to a 6.1% pre-market share drop. Other stocks like Fisker, Plug Power, and several others also moved lower in pre-market trading due to various reasons including below-estimate revenues, internal control issues, and weak financial results.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 10:47 am

Scilex Holding announced a $10M bought deal offering, with Rodman & Renshaw LLC and StockBlock Securities LLC as underwriters. They will purchase 5.88 million shares and warrants at $1.70 per share, excluding underwriting discounts and commissions.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:38 pm

Scilex Holding Company announced that its anti-gout medication, GLOPERBA®, will be stocked in leading national pharmacy chains across the U.S. ahead of its expected launch in the first half of 2024. The company is also negotiating with additional chains for stocking arrangements. GLOPERBA®, the first liquid oral colchicine for gout prophylaxis, targets the growing gout treatment market, projected to reach $2.0 billion by 2028. Scilex has increased GLOPERBA® production, with inventory available at Cardinal Health.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:02 pm

Scilex Holding Company has announced that its abstract has been accepted for both a poster and an oral presentation at the upcoming annual meeting of the American Academy of Pain Medicine (AAPM). This acceptance is a significant milestone for Scilex as it provides an opportunity to showcase its research and developments in the field of pain management to a professional audience.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 2:02 pm

Virpax Pharmaceuticals has reached a settlement with Sorrento Therapeutics and Scilex Pharmaceuticals, agreeing to pay $6 million in two installments and royalties on sales of certain drugs to settle all claims. The settlement includes no admission of liability and a release of all claims upon payment.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 12:43 pm

Scilex Pharmaceuticals Inc. has entered into a term sheet with Virpax Pharmaceuticals, Inc. for a mutual release and settlement agreement. This development could indicate a resolution of prior disputes or litigations between the two companies, potentially clearing the way for future collaborations or smoother operations.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:54 pm

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