Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 555

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 555
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 Ended March 31, 
 2025            |     |     | 2024 |     |     | Changes |      |   |
|:---------------------------------------------|:----|:----------------|----:|:----|:-----|----:|:----|:--------|-----:|:--|
| Contracted R&D                               |     | $               |  75 |     | $    | 845 |     | $       | (770 | ) |
| Personnel including stock-based compensation |     |                 | 107 |     |      |  79 |     |         |   28 |   |
| Other                                        |     |                 |   5 |     |      |   7 |     |         |   (2 | ) |
| Total research and development expenses      |     | $               | 187 |     | $    | 931 |     | $       | (744 | ) |

Total research and development expenses for the three months ended March 31, 2025 and 2024 were $0.2 million and $0.9 million, respectively. The decrease of $0.7 million was primarily attributed to a decrease in contracted R&D expenses, of which $0.6 million was related to lower chemistry manufacturing and controls costs related to drug supply of SP-102. General and Administrative Expenses General and administrative expenses for the three months ended March 31, 2025 and 2024 were $0.5 million and $0.6 million, respectively. The decrease of $0.1 million was primarily due to a decrease in allocated personnel payroll costs of $0.3 million, offset by an increase of $0.2 million in professional services expense. 335

Comparison of the Years Ended December 31, 2024 and 2023 Research and Development Expenses The following table summarizes research and development expenses for the years ended December 31, 2024 and 2023 (in thousands):

|                                              |     | Year Ended   
 December 31, |  2024 |     |   |  2023 |     |   | Changes |   |
|:---------------------------------------------|:----|:-------------|------:|:----|:--|------:|:----|:--|--------:|:--|
| SP-102                                       |     |              |       |     |   |       |     |   |         |   |
| Contracted R&D                               |     | $