Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 208

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 208
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 loss of $327.9 million and $66.3 million for the nine months ended September 30, 2025 and 2024, respectively. As of September 30, 2025, we had an accumulated deficit of $888.7 million. As of September 30, 2025, we had cash and cash equivalents of approximately $0.9 million. Our management has concluded that there is substantial doubt about our ability to continue as a going concern for one year after the date that the consolidated financial statements are issued. See Note 2 titled “Liquidity and Going Concern” to our consolidated financial statements and our independent registered public accounting firm report included elsewhere in this prospectus for additional information.

We expect to continue to make investments in our sales and marketing organization and expand digital marketing efforts to broaden awareness of ZTlido, GLOPERBA and ELYXYB and in research and development, clinical trials and regulatory affairs to develop our product candidates, SEMDEXA, SP-103 and SP-104. As a result, we will need substantial additional funding to support our continuing operations and pursue our growth strategy. Until we can generate significant revenue, if ever, we expect to finance our operations through a combination of equity offerings, debt financings, collaborations, government contracts or other strategic transactions. We may be unable to raise additional funds or enter into such agreements or arrangements when needed on favorable terms, or at all. If adequate funds on acceptable terms are not available when needed, we may be required to reduce the scope of the commercialization of ZTlido, GLOPERBA and ELYXYB or delay, scale back or discontinue the development of one or more of our product candidates.

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**Recent Developments

Datavault Investment

On September 25, 2025, we entered into the Datavault SPA with Datavault, pursuant to which Datavault agreed to issue and sell, and we agreed to purchase, the Datavault Shares in the initial closing which occurred on the Initial Datavault Closing and the Datavault Pre-Funded Warrant to purchase 263,914,094 shares of Datavault Common Stock on the Subsequent Datavault Closing, for an aggregate purchase price of $150 million in BTC (based on the Spot Exchange Rate).

On November 25, 2025, the Subsequent Datavault Closing was consummated with us transferring an amount of BTC (based on the