Company: SCLXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047800
Chunk: 348

Company: Scilex Holding Co
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 348
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 Intrinsic Value

        Outstanding as of December 31, 2023
         
        33,124

        $
        4.38

        7.5

        $
        7,459

        Granted
         
        4,515

        $
        0.95

        Exercised
         
        (154
        )
         
        $
        1.48

        Forfeited/Cancelled
         
        (1,500
        )
         
        $
        4.59

        Outstanding as of December 31, 2024
         
        35,985

        $
        3.95

        6.4

        $
        —

        Vested and expected to vest as of December 31, 2024
         
        35,985

        $
        3.95

        6.4

        $
        —

        Exercisable as of December 31, 2024
         
        25,452

        $
        3.23

        5.5

        $
        —

       Intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the Common Stock for the options that had exercise prices that were lower than the per share fair value of the Common Stock as of the measurement date of the intrinsic value. The weighted-average grant date fair value per share of stock options granted during the years ended December 31, 2024 and 2023 was $0.67 and $3.24 per share, respectively. The total intrinsic values of options exercised during the years ended December 31, 2024 and 2023 were $47.3 thousand and $1.1 million, respectively. The maximum term of options granted under each of the equity incentive plans is ten years. Total stock-based compensation recorded within operating expenses was $15.7 million and $14.6 million for the years ended December 31, 2024 and 2023, respectively. The total unrecognized compensation costs related to unvested employee and non-employee stock option grants as of December 31, 2024 were $27.8 million, which the Company expects to recognize over a weighted-average period of approximately 2.3 years. Scilex Holding Company 2022 Employee Stock Purchase Plan In October 2022, the Board of Directors of the Company adopted the Scile