Company: SMNR
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077047
Chunk: 0

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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ITem
1. Unaudited CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

DENALI CAPITAL ACQUISITION CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

    June 30,  2025  
    December 31,  2024 

    (Unaudited)  

    Assets 

    Cash on hand 
    $126  
    $16,868 
  
    Prepaid expenses 
     14,018  
     - 
  
    Total current assets 
     14,144  
     16,868 

    Cash and Investments held in trust 
     548,318  
     9,021,005 
  
    Total assets 
    $562,462  
    $9,037,873 

    Liabilities and Shareholders’ Deficit 

    Accounts Payable and accrued offering costs and expenses 
    $5,092,376  
    $4,640,414 
  
    Accrued interest expense - related party 
     110,237  
     74,555 
  
    Accrued interest expense - others 
     78,224  
     58,586 
  
    Promissory Note - related party 
     1,590,007  
     1,423,237 
  
    Promissory Note - Others 
     1,398,107  
     1,350,292 
  
    Total current liabilities 
     8,268,951  
     7,547,084 

    Deferred underwriter compensation 
     2,887,500  
     2,887,500 
  
    Total liabilities 
     11,156,451  
     10,434,584 

    Commitments and contingencies 

    Class A ordinary shares subject to possible redemption 43,739 and 751,837 shares at redemption value of $12.54 and $12.00 per share as of  June 30, 2025 and December 31, 2024, respectively 
     548,318  
     9,021,005 

    Shareholders’ Deficit: 

    Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 
     -  
     - 
  
    Class A ordinary