Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 433

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 433
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 — |   |     |      |     43 |   |
| Accrued expenses                                                                      |     |                          |   (861 | ) |     |      |    701 |   |
| Net cash used for operating activities                                                |     |                          | (4,891 | ) |     |      | (1,677 | ) |
| Financing activities                                                                  |     |                          |        |   |     |      |        |   |
| Proceeds from related party loans                                                     |     |                          | 10,872 |   |     |      |  1,661 |   |
| Payments of deferred offering costs                                                   |     |                          | (5,981 | ) |     |      |      — |   |
| Net cash provided by financing activities                                             |     |                          |  4,891 |   |     |      |  1,661 |   |
| Net change in cash and cash equivalents                                               |     |                          |      — |   |     |      |    (16 | ) |
| Cash and cash equivalents at beginning of period                                      |     |                          |     12 |   |     |      |     28 |   |
| Cash and cash equivalents at end of period                                            |     | $                        |     12 |   |     | $    |     12 |   |

See accompanying notes to financial statements F-69

SEMNUR PHARMACEUTICALS, INC. NOTES TO FINANCIAL STATEMENTS

**Note 1. Nature of Operations and Basis of Presentation**

**Organization and Principal Activities**

Semnur Pharmaceuticals, Inc. (“Semnur” or the “Company”) was formed in 2013 and became a wholly owned subsidiary of Scilex Holding Company (“Scilex”) in 2019. The Company is a late clinical stage specialty pharmaceutical company focused on the development and commercialization of novel non-opioid pain therapies. The Company is currently developing one product candidate, SP-102 (10 mg, dexamethasone sodium phosphate viscous gel), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, for which the Company has completed a pivotal Phase 3 study (“SP-102” or “SEMDEXA”). Since inception, the Company has devoted all of its efforts to the development of SP-102 and operates in one segment. The Company is a Delaware