Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 539

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 539
---
 |     | $ |    (139 | ) |
| Personnel including stock-based compensation |     |              |   492 |     |   |   258 |     |   |     234 |   |
| Other                                        |     |              |    57 |     |   |    64 |     |   |      (7 | ) |
| Total research and development expenses      |     | $            | 1,709 |     | $ | 1,621 |     | $ |      88 |   |

Total research and development expenses for the years ended December 31, 2024 and 2023 were $1.7 million and $1.6 million, respectively. The increase of $0.1 million was primarily attributed to an increase of $0.2 million from allocated personnel costs and an increase of $0.1 million from consulting costs, offset by a decrease of $0.2 million in chemistry manufacturing and controls costs related to drug supply. General and Administrative Expenses General and administrative expenses for the years ended December 31, 2024 and 2023 were $3.0 million and $1.6 million, respectively. The increase of $1.4 million was primarily attributed to an increase of professional services of $1.7 million, offset by a decrease of $0.3 million in allocated stock-based compensation expense. Liquidity and Capital Resources As of December 31, 2024, we had cash and cash equivalents of approximately $12,000. During the year ended December 31, 2024, we had operating losses of $4.7 million and negative cash flows from operations of $4.9 million. We had an accumulated deficit of approximately $115.4 million as of December 31, 2024. As of December 31, 2023, our negative working capital was $0.9 million, including cash and cash equivalents of approximately $12,000. During the year ended December 31, 2023, we had operating losses of $3.3 million and negative cash flows from operations of $1.7 million. We had an accumulated deficit of approximately $110.7 million as of December 31, 2023. We are dependent upon Scilex and its affiliates to provide services and 329

funding to support our operations until, at least, such time as external financing is obtained. We expect to incur significant expenses and operating losses for the foreseeable future as we continue our efforts