Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 733

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 733
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 reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to

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perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ Marcum LLP

Marcum LLP

We have served as the Company’s auditor from 2022 to 2024.

Costa Mesa, CA

April 1, 2024

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DENALI CAPITAL ACQUISITION CORP. CONSOLIDATED BALANCE SHEETS

| Assets                                                                                                                                                                                                                                                            |     | December 31,2024 |             |   |     | December 31,2023 |            |   |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-----------------|------------:|:--|:----|:-----------------|-----------:|:--|
| Cash on hand                                                                                                                                                                                                                                                      |     | $                |      16,868 |   |     | $                |    204,464 |   |
| Prepaid expenses                                                                                                                                                                                                                                                  |     |                  |           — |   |     |                  |      4,976 |   |
| Total current assets                                                                                                                                                                                                                                              |     |                  |      16,868 |   |     |                  |    209,440 |   |
| Cash and Investments held in trust                                                                                                                                                                                                                                |     |                  |   9,021,005 |   |     |                  | 50,477,963 |   |
| Total assets                                                                                                                                                                                                                                                      |     | $                |   9,037,873 |   |     | $                | 50,687,403 |   |
| Liabilities and