Company: SMNR
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077047
Chunk: 88

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 2
Chunk 88
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Item 2. Management’s
Discussion and Analysis of Financial Condition and Results of Operations.

References in this
report (the “Quarterly Report”) to the “Company,” “our,” “us” or “we” refer
to Denali Capital Acquisition Corp. The following discussion and analysis of the Company’s financial condition and results of operations
should be read in conjunction with the unaudited condensed consolidated financial statements and the notes related thereto contained elsewhere
in this Quarterly Report. Certain information contained in the discussion and analysis set forth below includes forward-looking statements
that involve risks and uncertainties.

Special Note Regarding
Forward-Looking Statements

This Quarterly Report
includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts, and involve risks and uncertainties
that could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical
fact included in this Form 10-Q including, without limitation, statements in this “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” regarding the Company’s financial position, business strategy and the plans
and objectives of management for future operations, are forward-looking statements. Words such as “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,”
“plan,” “possible,” “potential,” “predict,” “project,” “should,”
“would” and variations thereof and similar words and expressions are intended to identify such forward-looking statements.
Such forward-looking statements relate to future events or future performance, but reflect management’s current beliefs, based on
information currently available. A number of factors could cause actual events, performance or results to differ materially from the events,
performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual
results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk
Factors section of the Company’s final prospectus for its initial public offering (“IPO”) filed with the SEC on April 7,
2022, the Company’s Annual Report on Form 10-K filed with the SEC on April 2, 2025, and the Semnur Proxy Statement/Prospectus. The
Company’s securities filings can be accessed on the EDGAR section of the