Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 21

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 21
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 is one year after the Closing Date. See the section of this prospectus titled “Selling Securityholders”. |

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| Market for our Common Stock and Public Warrants | Our Common Stock and Public Warrants trade on the Pink Limited Market of the OTC Markets under the symbols “SMNR” and “SMNRW”, respectively. |

| Risk Factors | See “Risk Factors” beginning on page 14 and other information included in this prospectus for a discussion of factors you should carefully consider before deciding to invest in the securities being offered by this prospectus. |

| (1) | The number of shares of Common Stock outstanding assumes that an aggregate of 229,740,978 shares are outstanding as of October 6, 2025, and excludes: |

| • |     | 50,000,000 shares of Common Stock issuable upon the exercise of stock options outstanding under Semnur’s 2024 Stock Option Plan (the “2024 Stock Option Plan”) with an exercise price of $1.27 per share; |

| • |     | 6,250,000 shares of Common Stock issuable upon the closing of the transactions contemplated by the Biconomy SPA; and |

| • |     | 1,250,000 shares of Common Stock issuable upon the closing of the transactions contemplated by that certain securities purchased agreement by and among the Company, Legacy Semnur and the investor named therein, dated as of August 20, 2025 (the “PIPE SPA”). |

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RISK FACTORS Investing in our securities involves a high degree of risk. Before making an investment decision, you should consider carefully the following risk factors, as well as the other information set forth in this prospectus, including matters addressed in the section of this prospectus titled “Cautionary Note Regarding Forward-Looking Statements”. If any of these risks actually occur, it may materially harm our business, financial condition, liquidity and results of operations. As a result, the market price of our securities could decline, and you could lose all or part of your investment. Additionally, the risks and uncertainties described in this prospectus, any prospectus supplement, any post-effective amendment or in any document incorporated by reference herein or therein are not the only risks and uncertainties that we face. We may face additional risks and uncertainties that are not presently known to us, or that we currently deem immaterial. The following discussions should be read in conjunction with our financial statements and the notes to the financial statements included therein