Scilex Holding Co
For the period ended Mar 31, 2025. Filed May 14, 2025.
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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.
Mar 31, 2025 · Filed May 14, 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 Cash Flows
(In thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net loss | $(26,080) | $(24,377) |
| Adjustments to reconcile net loss to net cash proceeds from operating activities: | ||
| Depreciation and amortization | 1,003 | 1,031 |
| Amortization of debt issuance costs and debt discount | — | 31 |
| Non-cash operating lease cost | 176 | 180 |
| Stock-based compensation | 3,314 | 3,558 |
| (Gain) loss on derivative liability | (10,409) | 457 |
| Financing costs and allocated expense for financial instruments at fair value | 4,057 | 1,375 |
| In-process research and development expense | 566 | — |
| Change in fair value of debt and liability instruments | 6,114 | 3,905 |
| Other | 38 | 26 |
| Changes in operating assets and liabilities: | ||
| Accounts receivables, net | 15,823 | 4,881 |
| Inventory | (584) | 726 |
| Prepaid expenses and other | 129 | (39) |
| Other long-term assets | — | (30) |
| Accounts payable | 5,128 | 1,265 |
| Accrued payroll | 149 | 1,046 |
| Accrued expenses | 841 | 1,120 |
| Accrued rebates and fees | 5,912 | 14,430 |
| Operating lease liability | (170) | (197) |
| Other long-term liabilities | — | 3 |
| Net cash proceeds from operating activities | 6,007 | 9,391 |
| Investing activities | ||
| Acquisition consideration paid in cash for Romeg intangible asset acquisition | (150) | (150) |
| Cash paid for in-process research and development, net | (200) | — |
| Purchase of convertible promissory note from Denali | (45) | — |
| Net cash used for investing activities | (395) | (150) |
| Financing activities | ||
| Proceeds from issuance of shares under Standby Equity Purchase Agreements and ATM Sales Agreement | — | 156 |
| Proceeds from issuance of Revolving Facility | — | 32,567 |
| Repayment of Revolving Facility | — | (33,313) |
| Repayment of Oramed Note | — | (15,000) |
| Repayment of Convertible Debentures | — | (4,375) |
| Repayment of Tranche B Notes principal and interest | (1,596) | — |
| Payments on purchased revenue liability | (797) | — |
| Transaction costs paid in connection with share repurchase | (396) | — |
| Proceeds from issuance of shares under direct offerings | — | 10,000 |
| Payments of direct offering issuance costs | — | (1,277) |
| Excise tax paid in connection with share repurchase | (200) | — |
| Payments of deferred transaction costs related to Semnur Business Combination | (95) | — |
| Proceeds from stock options exercised | — | 46 |
| Net cash used for financing activities | (3,084) | (11,196) |
| Net change in cash, cash equivalents and restricted cash | 2,528 | (1,955) |
| Cash, cash equivalents and restricted cash at beginning of period | 3,272 | 4,729 |
| Cash, cash equivalents and restricted cash at end of period | $5,800 | $2,774 |
| Non-cash investing and financing activities | ||
| Issuance costs related to February 2024 BDO included in accrued expenses | $— | $1,501 |
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