Company: SMNR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001193125-25-277536
Chunk: 0

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 0
---
SEMNUR PHARMACEUTICALS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(unaudited)

     September 30,

     December 31,

     2025

     2024

     ASSETS

     Current assets:

     Cash and cash equivalents
      
     $
     85

     $
     12

     Prepaid expenses

     —

     2

     Other current assets

     —

     5,981

     Total current assets

     85

     5,995

     Property and equipment, net

     689

     689

     Total assets
      
     $
     774

     $
     6,684

     LIABILITIES AND STOCKHOLDERS' DEFICIT

     Current liabilities:

     Accounts payable

     4,288

     —

     Accrued expenses

     1,266

     35

     Promissory notes

     4,478

     —

     Total current liabilities

     10,032

     35

     Related party loan

     5,335

     49,433

     Total liabilities

     15,367

     49,468

     Commitments and contingencies (See Note 4)

     Stockholders’ deficit:

     Preferred stock, $0.0001 par value, 45,000,000 shares authorized    as of September 30, 2025 and December 31, 2024; 5,423,606 and    no shares issued and outstanding as of September 30, 2025 and    December 31, 2024, respectively

     1

     —

     Common stock, $0.0001 par value, 740,000,000 and 200,000,000 shares    authorized as of September 30, 2025 and December 31, 2024,    respectively; 229,740,978 and 200,000,000 issued and outstanding    as of September 30, 2025 and December 31, 2024, respectively

     23

     20

     Additional paid-in capital

     255,025

     72,580

     Accumulated deficit

     (269,642
     )