Company: SCLXW
Filing Date: 2025-01-17
Form Type: 10-Q
Source: 0000950170-25-006755
Chunk: 126

Company: Scilex Holding Co
Filing Date: 2025-01-17
Form: 10-Q
Item: Item 1
Chunk 126
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0 million and $0.4 million, respectively. The loss recognized during the three months ended September 30, 2024 was attributed to the Oramed Note and the FSF Deposit. The Oramed Note was issued in September 2023 in the principal amount of $101.9 million, of which the principal amount of $60.2 million remained outstanding as of September 30, 2024. The FSF Deposit was received in June 2024 in the principal amount of $10.0 million, which remained outstanding as of September 30, 2024. The loss recognized during the three months ended September 30, 2023 was attributed to the Convertible Debentures issued in March and April 2023 in an aggregate principal amount of $25.0 million which were fully repaid during the first quarter of 2024.

Interest Expense, Net

Interest expense, net for the three months ended September 30, 2024 and 2023 was $0.6 million and $0.5 million, respectively. The increase was attributed to $0.1 million of interest related to the Revolving Facility.

Results of Operations For the Nine Months Ended September 30, 2024 and 2023

    Nine Months Ended September 30,

    2024

    2023

    Changes

    Statements of Operations Data:

    Net revenue
     
    $
    41,690

    $
    33,281

    $
    8,409

    Net operating costs and expenses:

    Cost of revenue

    11,998

    11,160

    838

    Research and development

    7,461

    10,012

    (2,551
    )

    Selling, general and administrative

    83,610

    96,121

    (12,511
    )

    Intangible amortization

    3,030

    3,080

    (50
    )

    Legal settlements

    (9,391
    )

    —

    (9,391
    )

    Total net operating costs and expenses

    96,708

    120,373

    (23,665
    )

    Loss from operations

    (55,018
    )

    (87,092
    )

    32,074

    Other (income) expense, net:

    (Gain) loss on derivative liability