Company: SCLXW
Filing Date: 2025-01-17
Form Type: 10-Q
Source: 0000950170-25-006755
Chunk: 127

Company: Scilex Holding Co
Filing Date: 2025-01-17
Form: 10-Q
Item: Item 1
Chunk 127
---

    (2,367
    )

    1,090

    (3,457
    )

    Change in fair value of debt and liability instruments

    11,961

    4,197

    7,764

    Interest expense, net

    1,678

    517

    1,161

    Loss on foreign currency exchange

    57

    30

    27

    Total other expense, net

    11,329

    5,834

    5,495

    Loss before income taxes

    (66,347
    )

    (92,926
    )

    26,579

    Income tax expense

    —

    5

    (5
    )

    Net loss
     
    $
    (66,347
    )
     
    $
    (92,931
    )
     
    $
    26,584

Comparison of the Nine Months Ended September 30, 2024 and 2023

Net Revenue

Net revenue for the nine months ended September 30, 2024 and 2023 was $41.7 million and $33.3 million, respectively. The increase of $8.4 million was driven by the increase in gross product sales of ZTlido and ELYXYB by approximately 12% and 110%, respectively, driven by the increase in the sales volume and a standard industry annual price increase, and sales of GLOPERBA commencing in June 2024, partially offset by an increase in rebates.

Cost of Revenue

 49

Cost of revenue for the nine months ended September 30, 2024 and 2023 was $12.0 million and $11.2 million, respectively. The increase of $0.8 million was primarily due to an increase in gross revenue of approximately 16%, partially offset by a decrease in logistics costs due to no air shipments used during the nine months ended September 30, 2024 compared to the nine months ended September 30, 2023.

Research and Development Expenses

The following table summarizes research and development expenses by project for the nine months ended September 30, 2024 and 2023 (in thousands):

    Nine Months Ended September 30,

    2024

    2023

    Increase (Decrease)

    SP-102

    Contracted R&D
     
    $