Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119831
Chunk: 28

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 28
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 company” have the meaning associated with it in the JOBS Act. Summary Risk Factors Risks Related to our Limited Operating History, Financial Condition and Capital Requirements

| • |     | We currently have three commercial products, ZTlido, ELYXYB and GLOPERBA; but we are currently heavily dependent                                                                           
 on the commercial success of ZTlido, as ELYXYB and GLOPERBA are in the initial stages of commercialization, and we may be unable to generate sufficient revenue to support our operations. |

| • |     | We have a limited operating history and have incurred significant losses since our inception. We anticipate that 
 we will incur continued losses for the foreseeable future.                                                       |

| • |     | The terms of the Oramed Note and the Tranche B Notes place restrictions on our operating and financial 
 flexibility.                                                                                           |

| • |     | We will require substantial additional funding, which may not be available to us on acceptable terms, or at all. |

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| • |     | We may not be able to generate sufficient cash to service our indebtedness and other liquidity needs. |

| • |     | Our recurring losses from operations, negative cash flows and substantial cumulative net losses raise substantial 
 doubt about our ability to continue as a going concern.                                                           |

Risks Related to our Commercial Operations and Product Development

| • |     | We obtain, or historically have obtained, our commercial supply of certain of our products, the clinical supply                                                                                                                                           
 of our product candidates and certain of the raw materials used in our product candidates from sole or single source suppliers and manufacturers. In the event of a loss of one of these suppliers or manufacturers, or a failure by any such supplier or 
 manufacturer to comply with FDA regulations, we may not be able to find an alternative source on commercially reasonable terms, or at all.                                                                                                                |

| • |     | We rely on third parties to conduct our clinical trials and intend to rely on third parties to conduct all of our                                                                                                                                        
 future clinical trials. If these third parties do not successfully carry out their contractual duties, fail to comply with applicable regulatory requirements or meet expected deadlines, we may be unable to obtain regulatory approval for our product 
 candidates.                                                                                                                                                                                                                                              |

| • |     | Interim “top-line” and preliminary data from our clinical                                                                                                                                                           
 trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in