Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 724

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 724
---
 appearing elsewhere herein, contains an explanatory paragraph expressing substantial doubt about the Company’s ability to continue as a going concern. The aforementioned financial statements are included herein in reliance upon the report of Marcum Asia CPAs LLP, given the authority of said firm as experts in accounting and auditing.

The consolidated financial statements of Denali Capital Acquisition Corp. as of December 31, 2023, and for the year then ended, before the effects of the retrospective adjustments to the disclosures for the adoption of ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) discussed in Note 9, appearing in this proxy statement/prospectus, have been audited by Marcum LLP, independent registered public accounting firm. The report of Marcum LLP, appearing elsewhere herein, contains an explanatory paragraph expressing substantial doubt about the Company’s ability to continue as a going concern. The aforementioned financial statements are included herein in reliance upon the report of Marcum LLP, given the authority of said firm as experts in accounting and auditing.

The financial statements of Semnur Pharmaceuticals, Inc. as of December 31, 2024 and 2023, and for the years then ended, included in this proxy statement/prospectus have been audited by Pipara & Co LLP, an independent registered public accounting firm, as stated in their report (which report expresses an unqualified opinion and includes explanatory paragraphs relating to a going concern uncertainty and the use of a carve-out basis of accounting discussed in Notes 1 and 2), which is included herein. Such financial statements are included in reliance upon the report of such firm given their authority as experts in accounting and auditing.

### CHANGE IN ACCOUNTANTS
On July 15, 2024, Denali, at the direction of its Board of Directors and upon the recommendation of the Denali Audit Committee, dismissed Marcum LLP (“Marcum”) as its independent registered public accounting firm, effective immediately.

Marcum’s reports on the Company’s consolidated financial statements for the fiscal years ended December 31, 2023 and 2022 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles, except that the reports included an explanatory paragraph expressing substantial doubt about the Company’s ability to continue as a going concern.

During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through July 15, 202