Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 574

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 574
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347

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET As of March 31, 2025 (in thousands, except share and per share amounts)

| ASSETS                                                   
 Current assets:                                          |     | Denali       
 Capital      
 Acquisition  
 Corp.        
 (Historical) |         |   |     | Semnur           
 Pharmaceuticals, 
 Inc.             
 (Historical)     |          |   |     | Transaction  
 Accounting   
 Adjustments  
 (Assuming No 
 Redemptions) |         |   |     |   |     | Pro Forma    
 Combined     
 (Assuming No 
 Redemptions) |          |   |     | Transaction 
 Accounting  
 Adjustments 
 (25%        
 Redemption  
 Scenario)   |      |   |     |   |     | Pro Forma   
 Combined    
 (Assuming   
 25%         
 Redemption) |          |   |     | Transaction 
 Accounting  
 Adjustments 
 (50%        
 Redemption  
 Scenario)   |      |   |     |   |     | Pro Forma   
 Combined    
 (Assuming   
 50%         
 Redemption) |          |   |     | Transaction 
 Accounting  
 Adjustments 
 (75%        
 Redemption  
 Scenario)   |      |   |     |   |     | Pro Forma   
 Combined    
 (Assuming   
 75%         
 Redemption) |          |   |     | Transaction 
 Accounting  
 Adjustments 
 (100%       
 Redemption  
 Scenario)   |      |   |     |   |     | Pro Forma   
 Combined    
 (Assuming   
 100%        
 Redemption) |          |   |
|:---------------------------------------------------------|:----|:-------------|--------:|:--|:----|:-----------------|---------:|:--|:----|:-------------|--------:|:--|:----|:--|:----|:-------------|---------:|:--|:----|:------------|-----:|:--|:----|:--|:----|:------------|---------:|:--|:----|:------------|-----:|:--|:----|:--|:----|:------------|---------:|:--|:----|:------------|-----:|:--|:----|:--|:----|:------------|---------:|:--|:----|:------------|-----:|:--|:----|:--|: