Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 620

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 620
---
 by reference, as applicable, as part of this report the exhibits listed in the attached Exhibit Index.
Copies of such material can be obtained on the SEC website at www.sec.gov.

Item
16. Form 10-K Summary.

Not
applicable.

34

DENALI
CAPITAL ACQUISITION CORP.
INDEX TO FINANCIAL STATEMENTS

        Page  PART 1 - FINANCIAL INFORMATION                  Item 1. Consolidated Financial Statements                 Report of Independent Registered Public Accounting Firm (PCAOB ID Number 5395)   F-2             Report of Independent Registered Public Accounting Firm (PCAOB ID Number 688)   F-3             Consolidated Balance Sheets as of December 31, 2024 and 2023   F-4             Consolidated Statements of Operations for the years ended December 31, 2024 and 2023   F-5             Consolidated Statements of Changes in Shareholders’ Deficit for the years ended December 31, 2024 and 2023   F-6             Consolidated Statements of Cash Flows for the years ended December 31, 2024 and 2023   F-7             Notes to Consolidated Financial Statements   F-8 

F-1

PART 1 - FINANCIAL INFORMATION

Item 1. Consolidated
Financial Statements

Report of Independent Registered Public Accounting
Firm

To the Shareholders and Board of Directors of

Denali Capital Acquisition Corp.

Opinion on the Financial Statements

We have audited the accompanying consolidated
balance sheet of Denali Capital Acquisition Corp. (the “Company”) as of December 31, 2024, the related consolidated statements
of operations, shareholders’ deficit and cash flows for the year ended December 31, 2024, and the related notes (collectively referred
to as the “financial statements”). In our opinion, based on our audit, the financial statements present fairly, in all material
respects, the financial position of the Company as of December 31, 2024, and the results of its operations and its cash flows for the
year ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

As discussed in Note 9 to the