Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 151

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 151
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 perception of future sales, of a substantial number of shares of our Common Stock may cause the price of our Common Stock to decline. If our existing stockholders sell, or indicate an intention to sell, substantial amounts of our Common Stock, the trading price of our Common Stock could decline and it could impair our ability to raise capital through the sale of additional equity securities. On December 30, 2022, Sorrento announced that its board of directors authorized Sorrento to dividend to Sorrento equity holders of record as of January 9, 2023 an aggregate of 76,000,000 shares of our Common Stock (on a pre-ReverseStock Split basis) that were held by Sorrento. Such shares were subject to a lock-uprestriction prohibiting the sale, pledge or other transfer which expired on April 14, 2025. As the restrictions on resale end, the market price of shares of our Common Stock could drop significantly if the holders of these shares of Common Stock sell them or are perceived by the market as intending to sell them. These factors could also make it more difficult for us to raise additional funds through future offerings of our shares of Common Stock or other securities. Our operating results may fluctuate significantly. We expect our operating results to be subject to quarterly, and possibly annual, fluctuations. Our net loss and other operating results will be affected by numerous factors, including:

| • |     | variations in the level of expenses related to our development programs; |

| • |     | the addition or termination of clinical trials; |

| • |     | any intellectual property infringement lawsuit in which we may become involved; |

| • |     | regulatory developments affecting ZTlido, GLOPERBA, ELYXYB or our product candidates, regulatory approvals of our 
 product candidates, and the level of underlying demand for such products and purchasing patterns;                 |

| • |     | our execution of any collaborative, licensing or similar arrangements, and the timing of payments we may make or 
 receive under these arrangements; and                                                                            |

| • |     | the effect on pharmaceutical purchases and prices of the timing during which patients who purchase our product 
 satisfy their deductibles under the reimbursement requirements of their health providers’ plans.               |

If our quarterly or annual operating results fall below the expectations of investors or securities analysts, the price of our Common Stock could decline substantially. Furthermore, any quarterly or annual fluctuations in our operating results may, in turn, cause the price of our Common Stock to fluctuate substantially