Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 465

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 465
---
                                          | — |     | $                                      | — |

The Company’s financial assets carried at fair value are comprised of cash and cash equivalents. Cash and cash equivalents consist of money market accounts and bank deposits which are highly liquid and readily tradable. These assets are valued using inputs observable in active markets for identical securities.

**Note 4. Balance Sheet Components**

**Property and equipment, net**

Property and equipment, net consists of the following (in thousands):

|                                |     |   | June 30, 2025 |   |     |   | December 31, 2024 |   |
|:-------------------------------|:----|:--|--------------:|:--|:----|:--|------------------:|:--|
| Construction-in-progress       |     | $ |           689 |   |     | $ |               689 |   |
| Furniture                      |     |   |            17 |   |     |   |                17 |   |
| Computers and equipment        |     |   |             8 |   |     |   |                 8 |   |
| Property and equipment, gross  |     |   |           714 |   |     |   |               714 |   |
| Less: Accumulated depreciation |     |   |           (25 | ) |     |   |               (25 | ) |
| Property and equipment, net    |     | $ |           689 |   |     | $ |               689 |   |

The Company recognized nodepreciation expense for each of the six months ended June 30, 2025 and 2024. Costs for long-lived assets not yet placed into service are capitalized as construction-in-progress and depreciated once placed into service. The Company assesses impairment on an annual basis. As of each of June 30, 2025 and December 31, 2024, there was no impairment identified on property and equipment.

**Accrued Expenses**

Accrued expenses consist of the following (in thousands):

|                               |     |   | June 30, 2025 |     |   | December 31, 2024 |
|:------------------------------|:----|:--|--------------:|:----|:--|------------------:|
| Property and equipment, gross |     | $ |         1,332 |     | $ |                10 |
| Property and equipment, gross |     |   |            23 |     |