Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 193

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 193
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 the three months ended March 31, 2025 and 2024 were $2.5 million and $3.1 million, respectively. The decrease was primarily attributed to reduced Chemistry, Manufacturing and Control development work related to SP-102. Selling, General and Administrative Expenses Selling, general and administrative expenses for the three months ended March 31, 2025 and 2024 were $28.1 million and $29.3 million, respectively. The decrease of approximately $1.2 million was primarily due to a $1.8 million decrease in advisory and financing expenses, a $1.1 million decrease in personnel expense, primarily driven by a decrease in bonus accrual, a $1.2 million decrease in marketing expenses, a $0.5 million decrease in travel expenses, a $0.2 million decrease in insurance costs and a $1.1 million decrease in other expenses in the three months ended March 31, 2025, partially offset by a $3.1 million increase in contracted services and a $1.6 million increase in legal fees. Intangible Amortization Expense Intangible amortization expense for each of the three months ended March 31, 2025 and 2024 was $1.0 million. Legal Settlements Legal settlements for the three months ended March 31, 2025 and 2024 were nil and $6.9 million, respectively. The decrease was attributed to payments received from litigation settlements that were entered into during the first quarter of 2024. See Note 11 titled “ Commitments and Contingencies” to our consolidated financial statements. (Gain) Loss on Derivative Liability (Gain) loss on derivative liability for the three months ended March 31, 2025 and 2024 was $(10.4) million and $0.5 million, respectively. The gain recognized during the three months ended March 31, 2025 was attributed to the change in the fair value of the derivative warrant liability associated with the Private Warrants, the February 2024 BDO Firm Warrants, the April 2024 RDO Common Warrants, the Deposit Warrant, the October 122

2024 Noteholder Warrants and the December 2024 RDO Common Warrants (each as defined below). The loss recognized during the three months ended March 31, 2024 was attributed to the change in the fair value of the derivative warrant liability associated with the Private Warrants and the February 2024 BDO