Company: SCLXW
Filing Date: 2025-01-17
Form Type: 10-Q
Source: 0000950170-25-006755
Chunk: 123

Company: Scilex Holding Co
Filing Date: 2025-01-17
Form: 10-Q
Item: Item 1
Chunk 123
---
    449

    1,508

    Interest expense, net

    576

    513

    63

    Loss on foreign currency exchange

    46

    7

    39

    Total other expense, net

    (15,529
    )

    (3,276
    )

    (12,253
    )

    Loss before income taxes

    (4,388
    )

    (35,529
    )

    31,141

    Income tax benefit

    —

    —

    0

    Net loss
     
    $
    (4,388
    )
     
    $
    (35,529
    )
     
    $
    31,141

Comparison of the Three Months Ended September 30, 2024 and 2023

Net Revenue

Net revenue for the three months ended September 30, 2024 and 2023 was $14.4 million and $10.1 million, respectively. The increase of $4.3 million was driven by the increase in gross product sales of ELYXYB by approximately 54% driven by an increase in the sales volume and a standard industry annual price increase, and sales of GLOPERBA commencing in June 2024, partially offset by an increase in rebates.

Cost of Revenue

Cost of revenue for the three months ended September 30, 2024 and 2023 was $3.8 million and $3.4 million, respectively. The increase of $0.4 million was primarily due to an increase in gross revenue of ELYXYB and GLOPERBA, partially offset by a decrease in logistics costs due to no air shipments used during the three months ended September 30, 2024 compared to the three months ended September 30, 2023.

Research and Development Expenses

The following table summarizes research and development expenses by project for the three months ended September 30, 2024 and 2023 (in thousands):

 47

    Three Months Ended September 30,

    2024

    2023

    Increase (Decrease)

    SP-102

    Contracted R&D
     
    $
    82

    $
    965

    $
    (883
    )

    Personnel

    149

    63

    86

    Other

    14

    19

    (5
    )