Company: SMNR
Filing Date: 2025-04-21
Form Type: CORRESP
Source: 0001193125-25-087365
Chunk: 13

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: CORRESP
Chunk 13
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 and has revised the disclosure in footnote (1) under each of the base case and best case scenarios on pages 196 and 198 of Amendment No. 1 to clarify that the assumptions are based on Semnur management’s internal analysis of the results of a study commissioned by Semnur with Syneos Health with respect to the SP-102market. Finally, the Company notes that the consent requirements of Rule 436 are generally directed at circumstances in which an issuer has engaged a third-party expert or counsel to prepare a valuation, opinion or other report specifically for use in connection with a registration statement. The Company confirms to the Staff that it did not enter into the consulting agreement with Syneos Health for use in the Registration Statement. The research services under the consulting agreement were requested by Semnur in 2020 for marketing and research purposes in Semnur’s ordinary course of business and no business combination or other public offering was contemplated at the time the research services were provided. As a result of the foregoing, the Company respectfully submits that a consent of Syneos Health is not required to be filed as an exhibit to the Registration Statement. Proposal 3 - The Charter Approval Proposal Reasons for the Approval of the Charter Approval Proposal, page 209

| 28. | We note that one of the reasons for the Charter Approval Proposal is to provide a greater number of                                                                                                                                             
 authorized shares of capital stock for Denali to have sufficient shares to issue to the Semnur stockholders in the Business Combination. Please disclose how many additional authorized shares are needed to complete the Business Combination. |

Response: The Company respectfully advises the Staff that it has revised the disclosure on page 239 of Amendment No. 1 in response to the Staff’s comment. Business of Semnur Our Company, page 262

| 29. | In the last paragraph on page 262, you state that you completed a pivotal Phase 3 study with final                                                                                                              
 results received in March 2022, which results reflected achievement of primary and secondary endpoints. Please disclose whether you have pursued any additional development of SP-102 since that time and what, 
 if any, next steps you have planned for SP-102. In this regard, we note your disclosure on pages 73 and 99 indicates that FDA staff has disagreed that your Phase 3 CLEAR trial will be sufficient to support a 
 505(b)(2) NDA submission and issued guidance requiring you to conduct an additional clinical study for the purpose of collecting additional safety data before submitting