Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 133

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 133
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 sales and may never be profitable. We currently only have one product candidate, SP-102.Our ability to generate revenue from product sales and achieve profitability will depend on our ability, alone or with collaborators, to successfully complete the development of, and obtain the regulatory approvals necessary to commercialize, SP-102and any future product candidates, if any. As a result, we intend to devote a substantial portion of our research and development resources and business efforts to the development of SP-102.We do not anticipate generating revenues from product sales for the next several years, if ever. Our ability to generate future revenue from product sales depends heavily on our, or our future collaborators’, ability to successfully:

| • |     | identify additional product candidates and complete research and preclinical and clinical development of SP-102 and any other product candidates we may identify; |

| • |     | seek and obtain regulatory and marketing approvals for any product candidates for which we complete clinical 
 trials;                                                                                                      |

| • |     | launch and commercialize any product candidates for which we obtain regulatory and marketing approval by                                 
 establishing a sales force, marketing and distribution infrastructure or, alternatively, collaborating with a commercialization partner; |

| • |     | qualify for coverage and adequate reimbursement by government and third-party payors for any product 
 candidates for which we obtain regulatory and marketing approval;                                    |

| • |     | develop, maintain, and enhance a sustainable, scalable, reproducible, and transferable manufacturing process for 
 the product candidates we may develop;                                                                           |

| • |     | establish and maintain supply and manufacturing relationships with third parties that can provide adequate, in                                                                         
 both amount and quality, products and services to support clinical development and the market demand for any product candidates for which we obtain regulatory and marketing approval; |

| • |     | obtain market acceptance of any product candidates as viable treatment options; |

| • |     | address competing technological and market developments; |

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| • |     | implement internal systems and infrastructure, as needed; |

| • |     | negotiate favorable terms in any collaboration, licensing or other arrangements into which we may enter, and 
 perform our obligations in such arrangements;                                                                |

| • |     | maintain, protect, enforce, defend and expand our portfolio of intellectual property rights, including patents, 
 trade secrets and know-how, in the United States and internationally;                                           |

| • |     | avoid and defend against third-party interference, infringement and other intellectual property claims in 
 the United States and internationally; and