Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 1883

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 12
Chunk 1883
---
:
    Observable inputs other
    than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted
    prices for identical assets or liabilities in markets that are not active.

    Level 3:
    Unobservable inputs based
    on our assessment of the assumptions that market participants would use in pricing the asset or liability.

F-27

Denali
Capital Acquisition Corp.

Notes
to Consolidated Financial Statements

The
following tables present information about the Company’s assets that are measured at fair value on a recurring basis as of December
31, 2024 and December 31, 2023, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such
fair value.

    As of December 31, 2024  
    Quoted Prices in Active Markets (Level 1)  
    Significant Other Observable Inputs (Level 2)  
    Significant Other Unobservable Inputs (Level 3) 
  
    Assets: 

    Investments held in Trust Account 
    $9,021,005  
    $-  
    $9,021,005  
     - 

    As of December 31, 2023  
    Quoted Prices in Active Markets (Level 1)  
    Significant Other Observable Inputs (Level 2)  
    Significant Other Unobservable Inputs (Level 3) 
  
    Assets: 

    Investments held in Trust Account 
    $50,477,963  
    $50,477,963  
    $-    
     -   

NOTE 9 — SEGMENT INFORMATION

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information
is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate
resources and assess performance. The Company has adopted the guidance in ASU 2023-07, Segment Reporting (Topic 280): Improvements to
Reportable Segment Disclosures, in the accompanying financial statements using the retrospective method of adoption.

The Company’s chief operating decision maker
has been identified as the Chief Executive Officer (“CODM”), who reviews the operating results for the Company as a whole
to make decisions about allocating resources and