Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119831
Chunk: 149

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 149
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 may become involved; |

| • |     | regulatory developments affecting ZTlido, GLOPERBA, ELYXYB or our product candidates, regulatory approvals of our 
 product candidates, and the level of underlying demand for such products and purchasing patterns;                 |

| • |     | our execution of any collaborative, licensing or similar arrangements, and the timing of payments we may make or 
 receive under these arrangements; and                                                                            |

| • |     | the effect on pharmaceutical purchases and prices of the timing during which patients who purchase our product 
 satisfy their deductibles under the reimbursement requirements of their health providers’ plans.               |

If our quarterly or annual operating results fall below the expectations of investors or securities analysts, the price of our Common Stock could decline substantially. Furthermore, any quarterly or annual fluctuations in our operating results may, in turn, cause the price of our Common Stock to fluctuate substantially. Our cash and cash equivalents could be adversely affected if the financial institutions in which we hold our cash and cash equivalents fail. On March 10, 2023, the Federal Deposit Insurance Corporation (the “FDIC”) announced that Silicon Valley Bank had been closed by the California Department of Financial Protection and Innovation and on March 12, 2023, Signature Bank was closed by the New York State Department of Financial Services and the FDIC was named receiver. Although we do not maintain any bank accounts with Silicon Valley Bank or Signature Bank, we regularly maintain cash balances at third-party financial institutions in excess of the FDIC insurance limit. Any failure of a depository institution to return any of our deposits, or any other adverse conditions in the financial or credit markets affecting depository institutions, could impact access to our invested cash or cash equivalents and could adversely impact our operating liquidity and financial performance. 91

If securities or industry analysts do not publish research or reports about our business, or if they issue an adverse opinion regarding our stock, our stock price and trading volume could decline.

The trading market for our Common
Stock will be influenced by the research and reports that industry or securities analysts publish about the Company or our business. We may never obtain research coverage by securities and industry analysts. Since we became public through a merger,
securities analysts of major brokerage firms may not provide coverage of the Company since there is no incentive to brokerage firms to recommend the purchase of our Common Stock. If no or few securities or industry analysts commence coverage of the
Company, the trading price for our capital stock would be negatively impacted. In the event we obtain