Scilex Holding Co
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 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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Consolidated Statements of Cash Flows for the Years ended
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net loss | $(72,807) | $(114,331) |
| Adjustments to reconcile net loss to net cash proceeds from (used for) operating activities: | ||
| Depreciation and amortization | 4,046 | 4,146 |
| Amortization of debt issuance costs and debt discount | 316 | 65 |
| Non-cash operating lease cost | 718 | 507 |
| Stock-based compensation | 15,689 | 14,596 |
| Issuance of shares under Settlement Agreement | — | 750 |
| (Gain) loss on derivative liability | (17,378) | 512 |
| Allocated expense for financial instruments at fair value | 17,297 | — |
| Change in fair value of debt and liability instruments | 4,782 | 7,189 |
| Allowances for expected credit losses | 1,186 | — |
| Other | 661 | 57 |
| Changes in operating assets and liabilities: | ||
| Accounts receivables, net | (6,267) | (13,361) |
| Inventory | 1,462 | (2,838) |
| Prepaid expenses and other | (479) | (441) |
| Other long-term assets | (30) | 855 |
| Accounts payable | 7,419 | 19,880 |
| Accrued payroll | (1,176) | 1,327 |
| Accrued expenses | (8,167) | 2,310 |
| Accrued rebates and fees | 72,859 | 58,765 |
| Operating lease liability | (758) | (711) |
| Other long-term liabilities | (24) | 16 |
| Net cash proceeds from (used for) operating activities | 19,349 | (20,707) |
| Investing activities | ||
| Acquisition consideration paid in cash for Romeg intangible asset acquisition | (600) | (300) |
| Purchase of equity securities | (2,000) | — |
| Purchase of convertible promissory note from Denali | (75) | — |
| Purchase of property and equipment | — | (30) |
| Net cash used for investing activities | (2,675) | (330) |
| Financing activities | ||
| Proceeds from issuance of shares under Standby Equity Purchase Agreements and ATM Sales Agreement | 2,671 | 35,458 |
| Proceeds from issuance of Convertible Debentures | — | 24,000 |
| Proceeds from issuance of Revolving Facility | 95,438 | 86,354 |
| Proceeds from issuance of FSF Deposit | 10,000 | — |
| Proceeds from issuance of Tranche B Notes and purchased revenue liability | 25,000 | — |
| Repayment of Revolving Facility | (112,791) | (69,001) |
| Repayment of Oramed Note | (64,200) | (5,000) |
| Cash consideration paid in connection with warrant repurchase | (300) | — |
| Transaction costs paid related to the Business Combination | — | (1,372) |
| Repayment of Convertible Debentures | (4,375) | (15,625) |
| Repayment of Tranche B Notes | (3,283) | — |
| Payments of debt issuance costs | (4,172) | (380) |
| Disbursement of funds to Sorrento | — | (20,000) |
| Cash consideration paid in connection with share repurchase | — | (10,000) |
| Transaction costs paid in connection with share repurchase | — | (1,987) |
| Excise tax paid in connection with share repurchase | (450) | — |
| Proceeds from issuance of shares under direct offerings | 41,967 | — |
| Payments of direct offering issuance costs | (4,370) | — |
| Payments of deferred transaction costs related to Semnur Business Combination | (1,379) | — |
| Proceeds from stock options and warrants exercised and ESPP | 2,113 | 1,135 |
| Net cash (used for) proceeds from financing activities | (18,131) | 23,582 |
| Net change in cash, cash equivalents and restricted cash | (1,457) | 2,545 |
| Cash, cash equivalents and restricted cash at beginning of period | 4,729 | 2,184 |
| Cash, cash equivalents and restricted cash at end of period | $3,272 | $4,729 |
| Supplemental disclosure: | ||
| Cash paid for interest | $1,561 | $1,426 |
| Non-cash investing and financing activities | ||
|---|---|---|
| Issuance of shares to B. Riley pursuant to B. Riley Purchase Agreement | $— | $1,869 |
| Issuance costs related to direct offerings included in accrued expenses and account payables | $1,845 | $— |
| Fee Warrants issued and exercised in connection with the Commitment Letter | $610 | $— |
| Settlement of FSF Deposit | $13,000 | $— |
| Deferred transaction costs related to Semnur Business Combination included in accrued expenses and account payable | $4,602 | $— |
| Conversion of Oramed Note into Tranche B Notes | $25,000 | $— |
| Conversion of Tranche B Notes into common stock | $9,256 | $— |
| Debt issuance costs included in accrued expenses | $3,063 | $— |
| Placement Agent Shares and October 2024 Placement Agent Warrants | $3,792 | $— |
| StockBlock Warrants issued in connection with the December 2024 RDO | $1,265 | $— |
| Conversion of Convertible Debentures into common stock | $— | $7,735 |
| Right-of-use assets obtained in exchange for operating lease liabilities with lease modification | $— | $2,523 |
| Oramed Note issuance at fair value | $— | $106,252 |
| Other non-cash consideration in connection with share repurchase | $— | $26,154 |
| Excise tax in connection with share repurchase included in accrued expenses | $860 | $1,310 |
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