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 Operations
(In thousands, except for net loss per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Net revenue | $5,004 | $10,884 |
| Net operating costs and expenses: | ||
| Cost of revenue | 1,384 | 3,840 |
| Research and development | 2,456 | 3,108 |
| Selling, general and administrative | 28,060 | 29,278 |
| Intangible amortization | 1,002 | 1,027 |
| Legal settlements | — | (6,891) |
| Total net operating costs and expenses | 32,902 | 30,362 |
| Loss from operations | (27,898) | (19,478) |
| Other (income) expense, net: | ||
| (Gain) loss on derivative liability | (10,409) | 457 |
| Change in fair value of debt and liability instruments | 6,114 | 3,905 |
| Interest expense, net | 2,481 | 531 |
| (Gain) loss on foreign currency exchange | (4) | 6 |
| Total other (income) expense, net | (1,818) | 4,899 |
| Net loss | $(26,080) | $(24,377) |
| Net loss per share attributable to common stockholders — basic and diluted | $(2.26) | $(8.33) |
| Weighted average number of shares during the period — basic and diluted | 11,565 | 2,926 |
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
(In thousands)
| 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, 2024 | 34,057 | $1 | 6,952 | $1 | $454,614 | $6,317 | $(563,052) | 1,716 | $(90,522) | $(192,641) |
| Treasury Stock transferred to Tranche B Investors for Tranche B Notes deferral | — | — | — | — | (5,353) | — | — | (143) | 7,535 | 2,182 |
| Treasury Stock paid for Gloperba Ex-U.S. License | — | — | — | — | (808) | — | — | (22) | 1,174 | 366 |
| Treasury Stock transferred to Oramed for the Oramed Note maturity extension | — | — | — | — | (3,523) | — | — | (93) | 4,898 | 1,375 |
| Stock-based compensation | — | — | — | — | 3,314 | — | — | — | — | 3,314 |
| Net loss | — | — | — | — | — | — | (26,080) | — | — | (26,080) |
| Balance, March 31, 2025 | 34,057 | $1 | 6,952 | $1 | $448,244 | $6,317 | $(589,132) | 1,458 | $(76,915) | $(211,484) |
| Preferred Stock · Common Stock · Additional · Accumulated · Treasury Stock · Stockholders’ | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Paid-in Capital | Deficit | Shares | Amount | Deficit | |
| Balance, December 31, 2023 | 29,057 | $— | 4,574 | $1 | $407,828 | $(490,245) | 1,716 | $(90,522) | $(172,938) |
| Shares issued under Standby Equity Purchase Agreements and under ATM Sales Agreement | — | — | 5 | — | 156 | — | — | — | 156 |
| Shares issued under Bought Deal Offering | — | — | 168 | — | 3,769 | — | — | — | 3,769 |
| Stock options exercised | — | — | 1 | — | 46 | — | — | — | 46 |
| Stock-based compensation | — | — | — | — | 3,558 | — | — | — | 3,558 |
| Net loss | — | — | — | — | — | (24,377) | — | — | (24,377) |
| Balance, March 31, 2024 | 29,057 | $— | 4,748 | $1 | $415,357 | $(514,622) | 1,716 | $(90,522) | $(189,786) |
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