Company: SMNR
Filing Date: 2025-04-21
Form Type: CORRESP
Source: 0001193125-25-087365
Chunk: 1

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: CORRESP
Chunk 1
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, please revise your disclosure to clarify that holders of Denali Class A Ordinary Shares and holders of Denali Class B Ordinary Shares, voting together as a single 
 class, will be asked to approve and adopt the Merger Agreement, or otherwise advise.                                                                                                                                                        |

Response: The Company respectfully advises the Staff that it has revised the disclosure on page i of the cover page of Amendment No. 1 in response to the Staff’s comment.

| 3. | Please revise the sponsor compensation disclosure on pages iii and iv to also include any compensation                                                                                                          
 received or to be received by the directors and officers of Denali, as well as the Denali underwriters. Refer to Item 1604(a)(3) of Regulation S-K. Please make similar revisions as appropriate in the sponsor 
 compensation disclosure on pages 42-43 and 86.                                                                                                                                                                  |

Response: The Company respectfully advises the Staff that it has revised the disclosure on pages v-vii of the cover page and pages 48-50 and 206-207 of Amendment No. 1 in response to the Staff’s comment.

Response: The Company respectfully advises the Staff that it has revised the disclosure on pages 352 and 399 of Amendment No. 1 in response to the Staff’s comment.

| 5. | Please revise the table on page iii, and elsewhere as applicable, to clarify the postcombination holdings                                                                                                            
 of Scilex Holding Company. In this regard, it should be clear that Scilex will own nearly all of Semnur’s equity securities following the combination and that this stake will not be held by multiple stockholders. |

Response: The Company respectfully advises the Staff that it has revised the disclosure on pages iii and v of the cover page and pages 12, 15-16, 58, 153 and 210 of Amendment No. 1 in response to the Staff’s comment.

| 6. | We note your disclosure on page viii that Denali intends to list the New Semnur Common Stock and warrants                                                                             
 on the Nasdaq Capital Market upon completion of the Business Combination. Please disclose here whether completion of the Business Combination is contingent on this listing approval. |

2

U.S. Securities and Exchange Commission April 21, 2025 Response: The Company respectfully advises the Staff that it has revised the disclosure on page xiii of the cover page of Amendment No. 1 in response to the Staff’s comment.

| 7. | On page viii, you disclose that the