Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 115

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 115
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| • |     | our dependence on third parties; |

| • |     | announcements of the introduction of new products by our competitors; |

| • |     | market conditions and trends in the pharmaceutical and biotechnology sectors; |

| • |     | announcements concerning product development results or intellectual property rights of others; |

| • |     | future issuances of common stock or other securities; |

| • |     | the recruitment or departure of key personnel; |

| • |     | failure to meet or exceed any financial guidance or expectations regarding product development milestones that we may provide to the public; |

| • |     | actual or anticipated variations in quarterly operating results; |

| • |     | our failure to meet or exceed the estimates and projections of the investment community; |

| • |     | overall performance of the equity markets and other factors that may be unrelated to our operating performance or the operating performance of its competitors, including changes in market valuations of similar companies; |

| • |     | announcements of significant acquisitions, strategic partnerships, joint ventures or capital commitments by us or our competitors; |

| • |     | changes in financial estimates by us or by any securities analysts who might cover its stock; |

| • |     | fluctuation of the market values of any of our potential strategic investments; |

| • |     | issuances of debt or equity securities; |

| • |     | compliance with our contractual obligations; |

| • |     | sales of Common Stock by us or our stockholders in the future; |

| • |     | trading volume of Common Stock; |

| • |     | ineffectiveness of our internal controls; |

| • |     | publication of research reports about us or our industry or positive or negative recommendations or withdrawal of research coverage by securities analysts; |

| • |     | our relationship with Scilex; |

| • |     | general political and economic conditions, including the wars in Ukraine and Israel; |

| • |     | effects of natural or man-made catastrophic events; |

| • |     | effects of public health crises, pandemics and epidemics; and |

| • |     | other events or factors, many of which are beyond our control, such as the government closure of Silicon Valley Bank and Signature Bank, and liquidity concerns at other financial institutions. |

Further, the global equity markets in general have recently experienced extreme price and volume fluctuations, including as a result of the COVID-19 pandemic, economic uncertainty and increased interest rates, inflation