Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 754

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 754
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 as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Pipara & Co LLP

Delhi, India

April 21, 2025

We have served as the Company’s auditor since 2025.

<div align='center'>F-35</div>

SEMNUR PHARMACEUTICALS, INC. BALANCE SHEETS (In thousands, except for par value and share amounts)

|                                                                                                                                                                                                               |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| ASSETS                                                                                                                                                                                                        |     |   |              |   |     |   |              |   |
| Current assets:                                                                                                                                                                                               |     |   |              |   |     |   |              |   |
| Cash and cash equivalents                                                                                                                                                                                     |     | $ |           12 |   |     | $ |           12 |   |
| Prepaid expenses                                                                                                                                                                                              |     |   |            2 |   |     |   |            2 |   |
| Other current assets                                                                                                                                                                                          |     |   |        5,981 |   |     |   |            — |   |
| Total current assets:                                                                                                                                                                                         |     |   |        5,995 |   |     |   |           14 |   |
| Property and equipment, net                                                                                                                                                                                   |     |   |          689 |   |     |   |          689 |   |
| Total assets                                                                                                                                                                                                  |     | $ |        6,684 |   |     | $ |          703 |   |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT                                                                                                                                                                         |     |   |              |   |     |   |              |   |
| Current liabilities:                                                                                                                                                                                          |     |   |              |   |     |   |              |   |
| Accrued expenses                                                                                                                                                                                              |     | $ |           35 |   |     | $ |          896 |   |
| Total current liabilities:                                                                                                                                                                                    |     |   |           35 |   |     |   |          896 |   |
| Related party loans                                                                                                                                                                                           |     |   |       49,433 |   |     |