Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 1591

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 9C
Chunk 1591
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 evidence regarding the amounts and disclosures in the financial statements.
Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ Marcum llp

Marcum llp

We have served as the Company’s auditor from 2022 to 2024.

Costa Mesa, CA

April 1, 2024

F-3

DENALI CAPITAL
ACQUISITION CORP.

CONSOLDATED
BALANCE SHEETS

    December 31,  2024  
    December 31, 2023 
  
    Assets 

    Cash on hand 
    $16,868  
    $204,464 
  
    Prepaid expenses 
     -  
     4,976 
  
    Total current assets 
     16,868  
     209,440 

    Cash and Investments held in trust 
     9,021,005  
     50,477,963 
  
    Total assets 
    $9,037,873  
    $50,687,403 

    Liabilities and Shareholders’ Deficit 

    Accounts Payable and accrued offering costs and expenses 
    $4,640,414  
    $3,749,581 
  
    Accrued interest expense -related party 
     74,555  
     18,021 
  
    Accrued interest expense - others 
     58,586  
     18,878 
  
    Promissory Note - related party 
     1,423,237  
     842,500 
  
    Promissory Note - Others 
     1,350,292  
     975,000 
  
    Total current liabilities 
     7,547,084  
     5,603,980 

    Deferred underwriter compensation 
     2,887,500  
     2,887,500 
  
    Total liabilities 
     10,434,584  
     8,491,480 

    Commitments and contingencies 

    Class A ordinary shares subject to possible redemption 751,837 and 4,537,829 shares at redemption value of $12.00 and $11.12 per share as of December 31, 2024 and 2023,