Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 475

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 475
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x Bio going forward.

F-99

**Note 8. Net Loss Per Share**

Basic and diluted net loss per share is computed by dividing net loss by the weighted-average number of common stock outstanding for the period. For periods in which the Company generated a net loss, the Company does not include the potential impact of dilutive securities in diluted net loss per share, as the impact of these items is anti-dilutive. Specifically, NSOs granted under the 2024 Plan to purchase an aggregate of 40,000,000shares of the Company’s common stock were considered anti-dilutive and therefore were excluded from the computation of diluted net loss per share for the six months ended June 30, 2025. There were no outstanding securities considered anti-dilutive for computation of diluted net loss per share for the six months ended June 30, 2025.

|                                                                         |     | Six Months Ended June 30, |        2025 |   |     |   |        2024 |   |
|:------------------------------------------------------------------------|:----|:--------------------------|------------:|:--|:----|:--|------------:|:--|
| Net loss (in thousands)                                                 |     | $                         |      (1,664 | ) |     | $ |      (2,616 | ) |
| Net loss per share — basic and diluted                                  |     | $                         |       (0.01 | ) |     | $ |       (0.02 | ) |
| Weighted average number of shares during the period — basic and diluted |     | $                         | 160,000,000 |   |     | $ | 160,000,000 |   |

Note 9. Subsequent Events The Company has completed an evaluation of all subsequent events through the date these financial statements were issued, to ensure these financial statements include appropriate disclosure of events both recognized in the financial statements and events which occurred but were not recognized in the financial statements. The Company has concluded that no events or transactions have occurred that require disclosure, other than those described below. Amendment No. 2 to Merger Agreement The Merger Agreement was amended on July 22, 2025, pursuant to Amendment No. 2 to Merger Agreement, by and among Denali, Merger Sub and the Company. Among other things, Amendment No. 2 to Merger Agreement modifies the definitions of the Exchange Ratio (as defined in Amendment No. 2 to Merger Agreement) and