Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 328

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 328
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 Industries Co., Ltd. (TSE:3001)     |     | —                                                                                                    |     |      418.1 |     | 1.3x     |     | 8.0x     |     | 15.8x    |
| 09/01/21 |     | Swedish Orphan Biovitrum AB (publ) (OM:SOBI) |     | Advent International, L.P.; GIC Special Investments Pte. Ltd.                                        |     |   10,536.8 |     | 6.2x     |     | 16.0x    |     | 24.2x    |
| 08/25/21 |     | Hugel, Inc. (KOSDAQ:A145020)                 |     | IMM Investment, Corp.; GS Holdings Corp. (KOSE:A078930); CBC Group; Mubadala Investment Company PJSC |     |    1,906.7 |     | 8.6x     |     | 21.7x    |     | 24.7x    |
| Average  |     |                                              |     |                                                                                                      |     |            |     | 2.4x     |     | 14.2x    |     | 46.2x    |
| Median   |     |                                              |     |                                                                                                      |     |            |     | 1.8x     |     | 13.8x    |     | 18.9x    |
| High     |     |                                              |     |                                                                                                      |     |            |     | 8.6x     |     | 28.3x    |     | 377.3x   |
| Low      |     |                                              |     |                                                                                                      |     |            |     | 0.5x     |     | 1.9x     |     | 2.2x     |

Notes:

| (1) | Values in millions of US dollars, except for multiples. |

| (2) | Source: S&P Capital IQ. |

Risk Adjusted Net Present Value Analysis The risk adjusted net present value approach is a method for valuing the net present value (“NPV”) of future cash flows of the drug. Using respective forecasts and market assumptions, future cash flows are forecasted for the product and discounted to the present value. CB Capital performed a risk adjusted net present value analysis of the estimated