Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 560

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 560
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| SP-102                                       |     |              |       |     |   |       |     |   |         |   |
| Contracted R&D                               |     | $            | 1,160 |     | $ | 1,299 |     | $ |    (139 | ) |
| Personnel including stock-based compensation |     |              |   492 |     |   |   258 |     |   |     234 |   |
| Other                                        |     |              |    57 |     |   |    64 |     |   |      (7 | ) |
| Total research and development expenses      |     | $            | 1,709 |     | $ | 1,621 |     | $ |      88 |   |

Total research and development expenses for the years ended December 31, 2024 and 2023 were $1.7 million and $1.6 million, respectively. The increase of $0.1 million was primarily attributed to an increase of $0.2 million from allocated personnel costs and an increase of $0.1 million from consulting costs, offset by a decrease of $0.2 million in chemistry manufacturing and controls costs related to drug supply of SP-102. General and Administrative Expenses General and administrative expenses for the years ended December 31, 2024 and 2023 were $3.0 million and $1.6 million, respectively. The increase of $1.4 million was primarily attributed to an increase of professional services expense of $1.7 million, offset by a decrease of $0.3 million in allocated stock-based compensation expense. Liquidity and Capital Resources As of March 31, 2025, we had cash and cash equivalents of approximately $7,000. During the three months ended March 31, 2025, we had operating losses of $0.7 million and negative cash flows from operations of $0.4 million. We had an accumulated deficit of approximately $116.0 million as of March 31, 2025. As of December 31, 2024, we had cash and cash equivalents of approximately $12,000. During the year ended December 31, 2024, we had operating losses of $4.7 million and negative cash flows from operations of $4.9 million. We had an accumulated deficit of approximately $115.4 million as of December 31, 2024. We are dependent