Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 237

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 237
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 |     | changes in financial estimates by New Semnur or by any securities analysts who might cover its stock; |

| • |     | fluctuation of the market values of any of New Semnur’s potential strategic investments; |

| • |     | issuances of debt or equity securities; |

| • |     | compliance with New Semnur’s contractual obligations; |

| • |     | sales of New Semnur Common Stock by New Semnur or its stockholders in the future; |

| • |     | trading volume of New Semnur Common Stock; |

| • |     | ineffectiveness of New Semnur’s internal controls; |

| • |     | publication of research reports about New Semnur or its industry or positive or negative recommendations or withdrawal of research coverage by securities analysts; |

| • |     | New Semnur’s relationship with Scilex; |

| • |     | general political and economic conditions, including the wars in Ukraine and Israel; |

| • |     | effects of natural or man-made catastrophic events; |

| • |     | effects of public health crises, pandemics and epidemics; and |

| • |     | other events or factors, many of which are beyond New Semnur’s control, such as the government closure of Silicon Valley Bank and Signature Bank, and liquidity concerns at other financial institutions. |

Further, the global equity markets in general have recently experienced extreme price and volume fluctuations, including as a result of the COVID-19 pandemic,economic uncertainty and increased interest rates, inflation, the government closure of Silicon Valley Bank and Signature Bank, and liquidity concerns at other financial institutions that may be unrelated to New Semnur’s operating performance. Continued market fluctuations could result in extreme volatility in the price of New Semnur Common Stock, which could cause a decline in the value of its common stock. Price volatility of New Semnur Common Stock might worsen if the trading volume of its common stock is low. In the past, stockholders have initiated class action lawsuits against pharmaceutical and biotechnology companies following periods of volatility in the market prices of these companies’ stock. Such litigation, if instituted against New Semnur, could cause it to incur substantial costs and divert management’s attention and resources from its business. The realization of any of the above risks or any of a broad range of other risks, including those described in these “Risk Factors”, could have a dramatic and material adverse impact on the market price of New Semn