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

5M

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 been granted a new U.S. patent (No. 11,786,455) for its lead product ZTlido, a non-aqueous lidocaine patch for pain relief. This patent, along with another recent patent (No. 11,793,766), will be listed in the FDA's Orange Book and extends the intellectual property coverage for ZTlido until 2031, bolstering Scilex's position in non-opioid pain management.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 2:02 pm

Scilex Holding Company has announced the issuance of a new U.S. patent for its lead product ZTlido, a lidocaine-containing patch for pain relief. The patent strengthens Scilex's IP position and is expected to provide barriers against competitors and support long-term growth.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:04 pm

Scilex Holding Company (NASDAQ:SCLX) has announced a positive Type C meeting with the U.S. Food and Drug Administration (FDA), reaching an agreement on the path forward to advance the clinical development of SP-102 and on the requirements to file a New Drug Application (NDA). Scilex plans to commence an open-label multi-center safety and efficacy trial in the first half of 2024, with completion of enrollment projected to occur in 2025. If approved, SP-102 would be the first corticosteroid with an indication for epidural administration in the U.S.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:10 pm

Scilex Holding Company (NASDAQ:SCLX) has announced new data from skin penetration studies supporting SP-103 5.4%, a triple strength formulation of ZTlido, in the treatment of musculoskeletal pain disorders. The studies showed a higher diffusive transport of lidocaine compared to diclofenac, with SP-103 resulting in a significantly higher lidocaine concentration in muscle tissue than commercially available ZTlido. The company believes these results indicate that SP-103 is highly effective in delivering lidocaine into muscle tissue in areas of localized pain.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:09 pm

Scilex Holding Company (NASDAQ:SCLX) announced record monthly revenue in October 2023 for its non-opioid pain management product, ZTlido. The company reported gross sales for October 2023 in the range of $14.5 million to $15.5 million, and year-to-date gross sales through October 2023 in the range of $110.0 million to $120.0 million, representing a growth of 47% to 60% compared to the same period in 2022. Net sales for October 2023 were in the range of $4.0 million to $5.0 million, with year-to-date net sales through October 2023 in the range of $35.0 million to $40.0 million, representing a growth of 15% to 32% compared to the same period in 2022.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 1:23 pm

Scilex has filed an emergency motion in the Bankruptcy Court for the South District of Texas, seeking an order to compel the production of books and records from certain brokers, dealers, banks, and nominees under Rule 2004 of the Federal Rules of Bankruptcy Procedure.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 6:10 pm

B. Riley Securities analyst Mayank Mamtani initiates coverage on Scilex Holding (NASDAQ:SCLX) with a Buy rating and announces a price target of $4.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 5:22 pm

Several US stocks traded higher on Wednesday, with notable gains recorded by Sharecare, Scilex Holding Company, VOXX International Corp, Golden Heaven Group Holdings, American Battery Technology Company, Exscientia, Empire State Realty OP, AZZ Inc., Dada Nexus Limited, Novavax, Harmony Gold Mining Company, HUTCHMED, Sify Technologies Limited, Beneficient, and Groupon. Sharecare's surge followed a preliminary non-binding proposal for acquisition by Claritas Capital. VOXX and AZZ Inc. reported stronger-than-expected sales and results for their second quarter, respectively.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 3:42 pm

HC Wainwright & Co. analyst Raghuram Selvaraju has initiated coverage on Scilex Holding (NASDAQ:SCLX) with a Buy rating and a price target of $12.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 10:15 am

Scilex Holding Company (NASDAQ:SCLX) has provided notice to all record holders and beneficial owners of restricted shares of Scilex common stock that were part of the previously announced dividend of Scilex common stock then-held by Sorrento Therapeutics, Inc. (OTC:SRNEQ). The notice is related to the ongoing bankruptcy proceedings of Sorrento and the illegal naked short selling of Scilex common stock. Scilex has proposed a solution for short sellers to cover their positions and avoid any continuing fees, interest, and other expenses associated with any short positions.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 1:11 pm

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