Company: SCLXW
Filing Date: 2025-01-17
Form Type: 10-Q
Source: 0000950170-25-006755
Chunk: 89

Company: Scilex Holding Co
Filing Date: 2025-01-17
Form: 10-Q
Item: Item 1
Chunk 89
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 2024 was $0.81 per share. The total intrinsic value of options exercised during the nine months ended September 30, 2024 was $19.2 thousand. Total stock-based compensation recorded within operating expenses was $3.7 million and $3.5 million for the three months ended September 30, 2024 and 2023, respectively and $10.9 million and $10.8 million for the nine months ended September 30, 2024 and 2023, respectively. The total unrecognized compensation costs related to unvested employee and non-employee stock option grants as of September 30, 2024 were $31.5 million, which the Company expects to recognize over a weighted-average period of approximately 2.6 years. Scilex Holding Company 2022 Employee Stock Purchase Plan On October 17, 2022, the Board adopted the Scilex Holding Company 2022 Employee Stock Purchase Plan (the “ESPP”). The purchase price of the Common Stock is equal to 85% of the lesser of the market value of such shares at the beginning of an offering period or the date of purchase. As of September 30, 2024, the total number of shares of Common Stock that may be issued under the ESPP shall not exceed 4,476,601, which was increased from 2,875,759 shares as a result of automatic annual increase on January 1, 2024. 

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Total stock-based compensation recorded as operating expense for the ESPP was $74.2 thousand and $196.3 thousand for the three and nine months ended September 30, 2024, respectively and nil for the three and nine months ended September 30, 2023, respectively. As of September 30, 2024, there were 167,369 shares of Common Stock issued under the ESPP. Valuation Assumptions The Company calculates the fair value of stock options granted to employees and nonemployees and shares issued under ESPP using the Black-Scholes option pricing method. The Black-Scholes option pricing method requires the use of subjective assumptions. The following assumptions were used in the Black-Scholes option pricing model to estimate stock-based compensation on the date of grant for stock options granted and ESPP shares issued: 

        Nine Months EndedSeptember 30, 2024

        Stock options:

        Expected dividend yield
         
        0.