Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 26

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 26
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 $116.0 million. The amount and timing of our future funding requirements will depend on many factors, some of which are outside of our control, including but not limited to:

| • |     | the scope, progress, results and costs of conducting studies and clinical trials for our product candidate, SP-102; |

| • |     | the timing of, and the costs involved in, obtaining regulatory approvals for our product candidate; |

| • |     | the costs of manufacturing our product candidate; |

| • |     | the timing and amount of any milestone, royalty or other payments we are required to make pursuant to any current or future collaboration or license agreements; |

| • |     | the potential requirement to reimburse Scilex for up to an aggregate of $280 million in respect of milestone payments under the Semnur Merger Agreement through an intercompany arrangement between Scilex and Semnur, which arrangement is not currently in place (see the section titled “Business – Material Agreements — Semnur Merger Agreement” for additional information regarding Scilex’s obligations under the Semnur Merger Agreement); |

| • |     | our ability to maintain existing, and establish new, strategic collaborations, licensing or other arrangements and the financial terms of any such agreements, including the timing and amount of any future milestone, royalty or other payments due under any such agreement; |

| • |     | the extent to which our product candidate, if approved for commercialization, are adopted by the physician community; |

| • |     | our need to expand our research and development activities; |

| • |     | the costs of acquiring, licensing or investing in businesses, product candidate and technologies; |

| • |     | the effect of competing products and product candidates and other market developments; |

| • |     | the number and types of future products or product candidates we develop and commercialize; |

| • |     | any product liability or other lawsuits related to our current or future product candidates; |

| • |     | the expenses needed to attract, hire and retain skilled personnel; |

| • |     | the costs associated with being a public company after the closing of the Business Combination; |

| • |     | our need to implement additional internal systems and infrastructure, including financial and reporting systems; |

| • |     | the number of public shares that are redeemed by Denali’s public shareholders; |

| • |     | the costs of preparing, filing and prosecuting patent applications and maintaining, enforcing