Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 352

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 352
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693 |     | $      | 2,989,887,679 |     | $      | 2,185,336,085 |     | $      | 1,372,664,229 |     | $      | 1,379,527,550 |     | $      | 1,386,425,187 |     | $      | 1,393,357,313 |     | $      | 1,400,324,100 |
| Total Operating Expenses(4) |     | $      |    60,488,497 |     | $      |    63,369,556 |     | $      |    66,419,408 |     | $      |    68,064,707 |     | $      |    69,807,184 |     | $      |    71,655,012 |     | $      |    73,617,125 |     | $      |    75,703,289 |     | $      |    77,924,180 |     | $      |    80,291,476 |
| Operating Income (loss)(5)  |     | $      | 3,474,137,462 |     | $      | 3,594,968,311 |     | $      | 3,719,960,285 |     | $      | 2,921,822,791 |     | $      | 2,115,528,901 |     | $      | 1,301,009,217 |     | $      | 1,305,910,424 |     | $      | 1,310,721,898 |     | $      | 1,315,433,133 |     | $      | 1,320,032,624 |

| (1) | Gross Sales are based on the following assumptions with respect to the applicable market, market share, growth rate and price per unit for SP-102 (each of which are based on Semnur management’s internal analysis of the results of the Research Report with respect to the SP-102 market). |

201

| (a) | The applicable assumed market for SP-102 is the U.S. ESI Market, covering both LR and Non-LR. In the first year after the commercial launch of SP-102, Semnur estimates the number of ESI administered LR injections to be approximately