Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 1044

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 1044
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ioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving patient outcomes. Scliex’s commercial products include: (i) ZTildo® (lidocaine topical system) 1.8%, a prescription of lidocaine topical product approved by the U.S. Food and Drug Administration (the “FDA”) for the relief of neuropathic pain 
 associated with postherpetic neuralgia, which is a form of post-shingles nerve pain; (ii) ELYXYB®, a potential first-line treatment and the only                                                                                                                                                                                                                                                                                                                                                                                                                    
 FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults; and                                                                                                                                                                                                                                                                                                                                                                                                                                                  
 (iii) Gloperba®, the first and only liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults.                                                                                                                                                                                                                                                                                                                                                                                                        |

| iii. | Denali Capital Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share                        
 exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. |

H-1

Our understanding of the Transaction may be summarized as follows:

| i. | Semnur Pharmaceuticals, Inc., a wholly owned subsidiary of Scilex Holding Company, and Denali Capital                                                                     
 Acquisition Corp. announce signing of a letter of intent for a proposed business combination, which provides for a pre-transaction equity value of Semnur of up to $2.0B; |

| ii. | The Structure of the Transaction shall take into consideration the following: |

| a. | The Merger shall result in the formation of a publicly traded biopharma company and further provide investment                                                                                                                                                                                            
 into Semnur for the development of a non-opioid product, SP-102 (10 mg injectable dexamethasone sodium phosphate viscous gel) or SEMDEXATM, a Phase 3 novel non-opioid, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, 
 with FDA Fast Track status.                                                                                                                                                                                                                                                                               |

| b. | Anticipated proceeds from the proposed business combination are expected to partially fund Semnur’s lead            
 program, SP-102, and a final Phase 3 study in connection with a potential New Drug Application filing with the FDA.