Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 34

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 34
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 | the ability to obtain and/or maintain the listing of New Semnur Common Stock on Nasdaq (or such other exchange as 
 agreed by the parties, including the New York Stock Exchange (“NYSE”)) following the Business Combination;        |

| • |     | New Semnur’s public securities’ potential liquidity and trading; |

| • |     | New Semnur’s ability to raise financing in the future; |

| • |     | New Semnur’s expected use of proceeds from future issuances of equity or convertible debt securities; |

6

| • |     | New Semnur’s future financial performance, including its revenue, costs of revenue and operating expenses; |

| • |     | the ability to realize the anticipated benefits of the Business Combination; |

| • |     | costs related to the Business Combination; |

| • |     | the outcome of any legal proceedings that may be instituted against Denali or Semnur related to the Business 
 Combination;                                                                                                 |

| • |     | the attraction and retention of qualified directors, officers, employees and key personnel of Denali and Semnur 
 prior to the Business Combination, and New Semnur following the Business Combination;                           |

| • |     | the ability of Semnur to compete effectively in a highly competitive market; |

| • |     | the competition from larger pharmaceutical companies that have greater resources, technology, relationships 
 and/or expertise;                                                                                           |

| • |     | the ability to protect and enhance Semnur’s corporate reputation and brand; |

| • |     | the impact from future regulatory, judicial, and legislative changes in Semnur’s industry; |

| • |     | Semnur’s and New Semnur’s ability to obtain and maintain regulatory approval of any of its product 
 candidates;                                                                                        |

| • |     | Semnur’s and New Semnur’s ability to research, discover and develop additional product candidates; |

| • |     | Semnur’s and New Semnur’s ability to grow and manage growth profitably; |

| • |     | Semnur’s and New Semnur’s ability to obtain and maintain intellectual property protection and not 
 infringe on the rights of others;                                                                 |

| • |     | Semnur’s ability to execute its business plans and strategy; |

| • |     | Denali’s officers and directors allocating their time to other business and potentially having conflicts of 
 interest with Denali’s business or in