Scilex Holding Co
For the period ended Sep 30, 2024. Filed Jan 17, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Jan 17, 2025
SCLX$1.61-7.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except for net loss per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Net revenue | $14,436 | $10,117 | $41,690 | $33,281 |
| Net operating costs and expenses: | ||||
| Cost of revenue | 3,768 | 3,392 | 11,998 | 11,160 |
| Research and development | 2,349 | 4,072 | 7,461 | 10,012 |
| Selling, general and administrative | 29,734 | 40,431 | 83,610 | 96,121 |
| Intangible amortization | 1,002 | 1,027 | 3,030 | 3,080 |
| Legal settlements | (2,500) | — | (9,391) | — |
| Total net operating costs and expenses | 34,353 | 48,922 | 96,708 | 120,373 |
| Loss from operations | (19,917) | (38,805) | (55,018) | (87,092) |
| Other (income) expense, net: | ||||
| (Gain) loss on derivative liability | (18,108) | (4,245) | (2,367) | 1,090 |
| Change in fair value of debt and liability instruments | 1,957 | 449 | 11,961 | 4,197 |
| Interest expense, net | 576 | 513 | 1,678 | 517 |
| Loss on foreign currency exchange | 46 | 7 | 57 | 30 |
| Total other (income) expense, net | (15,529) | (3,276) | 11,329 | 5,834 |
| Loss before income taxes | (4,388) | (35,529) | (66,347) | (92,926) |
| Income tax expense | — | — | — | 5 |
| Net loss | $(4,388) | $(35,529) | $(66,347) | $(92,931) |
| Net loss per share attributable to common stockholders — basic and diluted | $(0.03) | $(0.63) | $(0.56) | $(1.03) |
| Weighted average number of shares during the period — basic and diluted | 126,964 | 139,808 | 118,566 | 141,358 |
| Comprehensive loss: | ||||
| Net loss | (4,388) | (35,529) | (66,347) | (92,931) |
| Other comprehensive income: | ||||
| Changes in fair value attributable to instrument-specific credit risk | 3,160 | — | 5,011 | — |
| Total other comprehensive income | 3,160 | — | 5,011 | — |
| Comprehensive loss | $(1,228) | $(35,529) | $(61,336) | $(92,931) |
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
| Preferred Stock · Common Stock · Additional · Accumulated Other · Accumulated · Treasury Stock · Stockholders’ | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount · Paid-in Capital · Comprehensive Income · Deficit · Shares · Amount · Deficit | ||||||||||||||
| Balance, December 31, 2023 | 29,057 | $— | 160,084 | $16 | $407,813 | $(490,245) | 60,069 | $(90,522) | $(172,938) | |||||
| Shares issued under Standby Equity Purchase Agreements and under ATM Sales Agreement | — | — | 189 | — | 156 | — | — | — | — | 156 | ||||
| Shares issued under Bought Deal Offering | — | — | 5,882 | 1 | 3,768 | — | — | — | — | 3,769 | ||||
| Stock options exercised | — | — | 35 | — | 46 | — | — | — | — | 46 | ||||
| Stock-based compensation | — | — | — | — | 3,558 | — | — | — | — | 3,558 | ||||
| Net loss | — | — | — | — | — | — | (24,377) | — | — | (24,377) | ||||
| Balance, March 31, 2024 | 29,057 | — | 166,190 | 17 | 415,341 | — | (514,622) | 60,069 | (90,522) | (189,786) | ||||
| Shares issued under Registered Direct Offering | — | — | 15,000 | 1 | 5,918 | — | — | — | — | 5,919 | ||||
| Placement Agent Warrants issued in connection with Registered Direct Offering and Representative Warrants issued in connection with Bought Deal Offering | — | — | — | — | 956 | — | — | — | — | 956 | ||||
| Shares issued under ESPP | — | — | 167 | — | 154 | — | — | — | — | 154 | ||||
| Stock options exercised | — | — | 67 | — | 99 | — | — | — | — | 99 | ||||
| Issuance of common stock upon warrants exercise | — | — | 50 | — | 84 | — | — | — | — | 84 | ||||
| Stock-based compensation | — | — | — | — | 3,613 | — | — | — | — | 3,613 | ||||
| Other comprehensive income | — | — | — | — | — | 1,851 | — | — | — | 1,851 | ||||
| Net loss | — | — | — | — | — | — | (37,582) | — | — | (37,582) | ||||
| Balance, June 30, 2024 | 29,057 | — | 181,474 | 18 | 426,165 | 1,851 | (552,204) | 60,069 | (90,522) | (214,692) | ||||
| Retainer shares issued | — | — | 10,000 | 1 | — | — | — | — | — | 1 | ||||
| Fee Warrant issued in connection with the Commitment Letter | — | — | — | — | 310 | — | — | — | — | 310 | ||||
| Repurchase of warrants | — | — | — | — | (298) | — | — | — | — | (298) | ||||
| Common stock issuable under Sponsor Interest Purchase Agreement | — | — | — | — | 345 | — | — | — | — | 345 | ||||
| Stock options exercised | — | — | 52 | — | 82 | — | — | — | — | 82 | ||||
| Issuance of common stock upon warrants exercise | — | — | 265 | — | 450 | — | — | — | — | 450 | ||||
| Stock-based compensation | — | — | — | — | 3,713 | — | — | — | — | 3,713 | ||||
| Other comprehensive income | — | — | — | — | — | 3,160 | — | — | — | 3,160 | ||||
| Net loss | — | — | — | — | — | — | (4,388) | — | — | (4,388) | ||||
| Balance, September 30, 2024 | 29,057 | $— | 191,791 | $19 | $430,767 | $5,011 | $(556,592) | 60,069 | $(90,522) | $(211,317) | ||||
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
| Preferred Stock · Common Stock · Additional · Accumulated · Treasury Stock · Stockholders’ | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Paid-in Capital | Deficit | Shares | Amount | Deficit | |
| Balance, December 31, 2022 | 29,057 | $3 | 141,349 | $14 | $412,136 | $(375,914) | — | $— | $36,239 |
| Shares issued under Standby Equity Purchase Agreements | — | — | 462 | — | 1,869 | — | — | — | 1,869 |
| Retainer shares issued | — | — | 4,000 | 1 | — | — | — | — | 1 |
| Stock-based compensation | — | — | — | — | 3,720 | — | — | — | 3,720 |
| Net loss | — | — | — | — | — | (30,753) | — | — | (30,753) |
| Balance, March 31, 2023 | 29,057 | 3 | 145,811 | 15 | 417,725 | (406,667) | — | — | 11,076 |
| Shares issued under Standby Equity Purchase Agreements | — | — | 2,084 | — | 13,925 | — | — | — | 13,925 |
| Stock options exercised | — | — | 128 | — | 222 | — | — | — | 222 |
| Conversion of Convertible Debentures into common stock | — | — | 632 | — | 7,735 | — | — | — | 7,735 |
| Issuance of common stock upon warrants exercise | — | — | 45 | — | 521 | — | — | — | 521 |
| Stock-based compensation | — | — | — | — | 3,587 | — | — | — | 3,587 |
| Net loss | — | — | — | — | — | (26,649) | — | — | (26,649) |
| Balance, June 30, 2023 | 29,057 | 3 | 148,700 | 15 | 443,715 | (433,316) | — | — | 10,417 |
| Shares issued under Standby Equity Purchase Agreements | — | — | 4,797 | — | 11,214 | — | — | — | 11,214 |
| Disbursement of funds to Sorrento | — | — | — | — | (20,000) | — | — | — | (20,000) |
| Repurchase of Treasury Stock, Preferred Stock, and warrants | — | (3) | — | — | (53,182) | — | 60,069 | (90,601) | (143,786) |
| Issuance of Penny Warrants | — | — | — | — | 10,401 | — | — | — | 10,401 |
| Issuance of common stock in connection with Settlement Agreement | — | — | 475 | — | 750 | — | — | — | 750 |
| Stock options exercised | — | — | 213 | — | 358 | — | — | — | 358 |
| Stock-based compensation | — | — | — | — | 3,506 | — | — | — | 3,506 |
| Net loss | — | — | — | — | — | (35,529) | — | — | (35,529) |
| Balance, September 30, 2023 | 29,057 | $— | 154,185 | $15 | $396,762 | $(468,845) | 60,069 | $(90,601) | $(162,669) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.