Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 159

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 159
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                   |        |   |     |              |          |   |     |    |     |           |          |   |
| Net loss per share - Redeemable ordinary shares, basic and diluted                                                         |     |                  |      0.32 |   |     |               |             |   |     |                   |        |   |     |              |          |   |     |    |     |           |          |   |

105

|                                                                                        |     | Denali Capital   
 Acquisition Corp 
 (Historical)     |           |   |     | Legacy Semnur 
 (Historical)  |     | Autonomous Entity 
 Adjustments       
 (Note 1)          |     | Pro Forma    
 Transactions 
 Accounting   
 Adjustment   |     | Pro Forma 
 Combined  |             |   |
| Weighted average shares outstanding -Non-redeemable ordinary shares, basic and diluted |     |                  | 2,572,500 |   |     |               |     |                   |     |              |     |           |             |   |
| Net loss per share -Non-redeemable ordinary shares, basic and diluted                  |     |                  |     (0.40 | ) |     |               |     |                   |     |              |     |           |             |   |
| Weighted average shares outstanding – New Semnur, basic and diluted                    |     |                  |           |   |     |               |     |                   |     |              |     |           | 234,990,978 |   |
| Net loss per share - New Semnur, basic and diluted                                     |     |                  |           |   |     |               |     |                   |     |              |     |           |       (2.52 | ) |

106

### NOTES TO THE UNAUDITED PRO FORMA CONDENSED FINANCIAL INFORMATION

### Note 1 – Description of the Business Combination
On August 30, 2024, Denali entered into the Merger Agreement with Merger Sub and Legacy Semnur. Pursuant to the Merger Agreement, subject to the terms and conditions set forth therein, Merger Sub merged with and into Legacy Semnur and with Legacy Semnur becoming a wholly owned subsidiary of Denali. On September 3, 2025, the Business Combination was approved by a Denali shareholder vote and was completed on September 22, 2025 (the “Closing”). In connection with