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Scilex Holding Company

Scilex Holding Company (SCLX)

1.71
-0.03
( -1.72% )
Updated: 14:20:57

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Key stats and details

Current Price
1.71
Bid
1.71
Ask
1.72
Volume
239,615
1.67 Day's Range 1.78
0.7316 52 Week Range 6.55
Market Cap
Previous Close
1.74
Open
1.72
Last Trade
11
@
1.72
Last Trade Time
14:25:06
Financial Volume
$ 409,738
VWAP
1.71
Average Volume (3m)
1,305,807
Shares Outstanding
181,189,935
Dividend Yield
-
PE Ratio
-2.73
Earnings Per Share (EPS)
-0.63
Revenue
46.74M
Net Profit
-114.33M

About Scilex Holding Company

Scilex Holding Company is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. ZTlido (lidocaine topical system) 1.8% is a prescription lidocaine topical product approved by the ... Scilex Holding Company is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. ZTlido (lidocaine topical system) 1.8% is a prescription lidocaine topical product approved by the U.S. Food and Drug Administration for the relief of neuropathic pain associated with post-herpetic neuralgia. We have acquired two FDA approved non-opioid pain products, GLOPERBA and ELYXYB, for the treatment of gout in adults and oral solution for the acute treatment of migraine, with or without aura, in adults. Our product candidates include SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (SEMDEXA TM), a Phase 3, novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, SP-103 (lidocaine topical system) 5. Show more

Sector
Biological Pds,ex Diagnstics
Industry
Biological Pds,ex Diagnstics
Headquarters
Wilmington, Delaware, USA
Founded
1970
Scilex Holding Company is listed in the Biological Pds,ex Diagnstics sector of the NASDAQ with ticker SCLX. The last closing price for Scilex was $1.74. Over the last year, Scilex shares have traded in a share price range of $ 0.7316 to $ 6.55.

Scilex currently has 181,189,935 shares outstanding. The market capitalization of Scilex is $315.27 million. Scilex has a price to earnings ratio (PE ratio) of -2.73.

SCLX Latest News

Scilex Holding Company Strengthens Board of Directors with Appointment of Highly Accomplished Leader in Interventional and Multidisciplinary Spine, Musculoskeletal and Orthopedic Care, Annu Navani, M.D.

PALO ALTO, Calif., July 23, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or the “Company”), an innovative revenue-generating company focused on acquiring, developing...

Scilex Holding Company Announces Collaboration to Leverage ACEA Therapeutics’ R&D Expertise and Local Market Connections to Support the Expansion of ZTlido® Program in ex-US and Potentially Provide Additional Access to Patients in Certain Key Markets in

ACEA Therapeutics (“ACEA”) will serve as exclusive territories distributor in Greater China, including mainland China, Taiwan, Hong Kong and Macau, with potential minimum purchase commitment for...

Semnur Pharmaceuticals, Inc., a Wholly Owned Subsidiary of Scilex Holding Company, and Denali Capital Acquisition Corp. (Nasdaq: DECA) Enter into a Letter of Intent for a Proposed Business Combination

Semnur Pharmaceuticals, Inc. (“Semnur”), a wholly owned subsidiary of Scilex Holding Company (Nasdaq: SCLX, “Scilex”), and Denali Capital Acquisition Corp. (Nasdaq: DECA) (“SPAC”) announce signing...

Scilex Holding Company to Ring Nasdaq Closing Bell on Friday, July 5th at 4:00PM ET at the Nasdaq MarketSite in Times Square, New York

The ceremony will be held in celebration of Scilex’s launch of GLOPERBA®, an innovative non-opioid product and the first oral liquid medicine for prophylactic treatment of painful gout flares...

Scilex Holding Company Provides Certain Preliminary Unaudited Financial Results for the Month Ended June 30, 2024 and Second Quarter of 2024

ZTlido® net sales for the month of June 2024 grew in the range of 70% to 104%, compared to the same period last year.ZTlido® net sales for the quarter ended June 2024 grew in the range of 28% to...

Scilex Holding Company Partners with New National Distributor, Endeavor Distribution LLC.

PALO ALTO, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or the “Company”), an innovative revenue-generating company focused on acquiring, developing...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1-0.18-9.523809523811.892.11.6710656181.8677371CS
4-0.04-2.285714285711.752.231.4715395671.83168256CS
120.79386.47764449290.9172.30.731613058071.5619049CS
260.095.555555555561.622.630.731611273381.49598913CS
52-3.94-69.73451327435.656.550.73169907541.73534372CS
156-8.34-82.985074626910.0516.70.73167746453.40849282CS
260-8.34-82.985074626910.0516.70.73167746453.40849282CS

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SCLX Discussion

View Posts
Monksdream Monksdream 3 days ago
SCLX under $2
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Invest-in-America Invest-in-America 3 weeks ago
SCLX: Thanks!! (I am VERY familiar with "Market Watch", but NOTHING via Google about the "Market Watch" article!! WEIRD!! And the FIRST post about it today on IHub was by iHub's own "Glenn1919", at 11:38 [NY time]. In any event, THANKS again!! Myself, I SHOULD HAVE searched all iHub posts, first!! MY bad, as they say these days!!!)
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Here Today Here Today 3 weeks ago
https://www.marketwatch.com/amp/story/scilex-holding-shares-rise-after-news-of-proposed-spac-deal-fa3161f1
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Here Today Here Today 3 weeks ago
They made a huge announcement.
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Invest-in-America Invest-in-America 3 weeks ago
SCLX: Up in the Post-M today. (No news nor PR's that I could find, via a cursory search on Google.)
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glenn1919 glenn1919 3 weeks ago
SCLX...............................https://stockcharts.com/h-sc/ui?s=SCLX&p=W&b=5&g=0&id=p86431144783
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glenn1919 glenn1919 4 weeks ago
SCLX............................https://stockcharts.com/h-sc/ui?s=SCLX&p=W&b=5&g=0&id=p86431144783
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CharlesNet CharlesNet 1 month ago
$SCLX LOOKING good
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glenn1919 glenn1919 1 month ago
SCLX.................................https://stockcharts.com/h-sc/ui?s=SCLX&p=W&b=5&g=0&id=p86431144783
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Brandywhitneylady Brandywhitneylady 3 months ago
Let’s refill Ji’s ATM machine again.
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abrooklyn abrooklyn 3 months ago
Scilex Holding Company Announces $15 Million Registered Direct Offering

Source: GlobeNewswire Inc.

Scilex Holding Company (Nasdaq: SCLX, “Scilex” or the “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 15,000,000 shares of its common stock, par value $0.0001 per share, and warrants to purchase up to an aggregate of 15,000,000 shares of common stock, at a purchase price of $1.00 per share of common stock and accompanying warrant to purchase one share of common stock, in a registered direct offering. The warrants will have an exercise price of $1.10 per share, will become exercisable on the six month anniversary from the date of issuance and will expire on the date that is five years after the date of issuance.
Rodman & Renshaw LLC is acting as the exclusive placement agent for the offering.

The closing of the offering is expected to occur on or about April 25, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds for the offering are expected to be approximately $15 million, prior to deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering, together with its existing cash and cash equivalents and short-term investments, for working capital and general corporate purposes, which may include capital expenditures, commercialization expenditures, research and development expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments, business combinations and the repayment, refinancing, redemption or repurchase of indebtedness or capital stock.

The securities described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-276245), as amended, which was originally filed with the Securities and Exchange Commission (the “SEC”) on December 22, 2023, and declared effective by the SEC on January 11, 2024. The securities are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and accompanying prospectus relating to, and describing the terms of, the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus may also be obtained, when available, by contacting Rodman & Renshaw LLC at 600 Lexington Avenue, 32nd Floor, New York, NY 10022, by telephone at (212) 540-4414, or by email at info@rodm.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Scilex Holding Company

Scilex Holding Company is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. Scilex targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving patient outcomes. Scilex’s commercial products include: (i) ZTlido® (lidocaine topical system) 1.8%, a prescription lidocaine topical product approved by the U.S. Food and Drug Administration (the “FDA”) for the relief of neuropathic pain associated with postherpetic neuralgia, which is a form of post-shingles nerve pain; (ii) ELYXYB®, a potential first-line treatment and the only FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults; and (iii) Gloperba®, the first and only liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults, expected to launch in the first half of 2024.

In addition, Scilex has three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (“SEMDEXATM” or “SP-102”), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica for which Scilex has completed a Phase 3 study and has granted Fast Track status from the FDA in 2017; (ii) SP-103 (lidocaine topical system) 5.4%, (“SP-103”), a next-generation, triple-strength formulation of ZTlido, for the treatment of chronic neck pain and for which Scilex has recently completed a Phase 2 trial in low back pain and has granted Fast Track status from the FDA in low back pain; and (iii) SP-104 (4.5 mg, low-dose naltrexone hydrochloride delayed-release capsules) (“SP-104”), a novel low-dose delayed-release naltrexone hydrochloride being developed for the treatment of fibromyalgia, for which Phase 1 trials were completed in the second quarter of 2022 and a Phase 2 clinical trial is expected to commence in 2024.

Scilex Holding Company is headquartered in Palo Alto, California.

Forward-looking Statements

This press release and any statements made for and during any presentation or meeting concerning the matters discussed in this press release contain forward-looking statements related to Scilex and its subsidiaries under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering, timing, the amount and the intended use of the net proceeds from the offering, Scilex’s plans to launch GLOPERBA® in 2024 and plans to initiate Phase 2 trial in 2024 for SP-104.

Risks and uncertainties that could cause Scilex’s actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to: statements related to the timing and completion of the offering; the satisfaction of customary closing conditions related to the offering and the intended use of proceeds from the offering; risks associated with the unpredictability of trading markets and whether a market will be established for Scilex’s common stock; general economic, political and business conditions; risks related to COVID-19 (and other similar disruptions); the risk that the potential product candidates that Scilex develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; risks relating to uncertainty regarding the regulatory pathway for Scilex’s product candidates; the risk that Scilex will be unable to successfully market or gain market acceptance of its product candidates; the risk that Scilex’s product candidates may not be beneficial to patients or successfully commercialized; the risk that Scilex has overestimated the size of the target patient population, their willingness to try new therapies and the willingness of physicians to prescribe these therapies; risks that the outcome of the trials and studies for SP-102, SP-103 or SP-104 may not be successful or reflect positive outcomes; risks that the prior results of the clinical and investigator-initiated trials of SP-102 (SEMDEXA™), SP-103 or SP-104 may not be replicated; regulatory and intellectual property risks; and other risks and uncertainties indicated from time to time and other risks described in Scilex’s most recent periodic reports filed with the Securities and Exchange Commission, including Scilex’s Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent Quarterly Reports on Form 10-Q that the Company has filed or may file with the SEC, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and Scilex undertakes no obligation to update any forward-looking statement in this press release except as may be required by law.

Contacts:

Investors and Media
Scilex Holding Company
960 San Antonio Road
Palo Alto, CA 94303
Office: (650) 516-4310

Email: investorrelations@scilexholding.com

Website: www.scilexholding.com

SEMDEXA™ (SP-102) is a trademark owned by Semnur Pharmaceuticals, Inc., a wholly-owned subsidiary of Scilex Holding Company. A proprietary name review by the FDA is planned.

ZTlido® is a registered trademark owned by Scilex Pharmaceuticals Inc., a wholly-owned subsidiary of Scilex Holding Company.

Gloperba® is the subject of an exclusive, transferable license to use the registered trademark by Scilex Holding Company.

ELYXYB® is a registered trademark owned by Scilex Holding Company.

All other trademarks are the property of their respective owners.

© 2024 Scilex Holding Company All Rights Reserved.



Primary Logo
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nsomniyak nsomniyak 4 months ago
I guess we keep waiting. I have little confidence that we won't see another extension in September.
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abrooklyn abrooklyn 4 months ago
Scilex Holding Company Announces that the U.S. Bankruptcy Court has Extended the Lockup Period on Shares of Scilex Stock Previously Distributed by Sorrento to its Stockholders as a Dividend

Source: GlobeNewswire Inc.

Scilex Holding Company (Nasdaq: SCLX, “Scilex”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) has extended the expiration of the restrictions on transfer of the shares of common stock of Scilex that were previously distributed by Sorrento Therapeutics, Inc. (OTC: SRNEQ, “Sorrento”), Scilex’s former controlling stockholder, to Sorrento’s stockholders as a dividend on January 19, 2023 (the “Dividend Stock”). Such lock-up period was previously set to expire on March 31, 2024. On March 26, 2024, the Court approved a motion to extend the lock-up period of the Dividend Stock to the earlier of (i) September 30, 2024 or (ii) the date on which Sorrento and its Official Committee of Unsecured Creditors agree in writing or on the record in Sorrento’s chapter 11 cases certain claims that may be asserted in potential litigation to avoid Sorrento’s distribution of Dividend Stock and to recover such Dividend Stock (the “Stock Clawback Claims”) should not be pursued, or on such date that the Court deems just and proper. The Court did not make any determination regarding the merits of the Stock Clawback Claims.
Accordingly, any shares of the Dividend Stock (including any such shares held by brokerage firms) may not be sold, transferred or otherwise disposed of and the holders of Dividend Stock would be prohibited from causing or encouraging any third party to do the same. The foregoing extension shall apply only to the Dividend Stock and does not apply to any other outstanding securities of Scilex.

To review the Court order, please click the link here.

About Scilex Holding Company

Scilex Holding Company is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. Scilex targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving patient outcomes. Scilex’s commercial products include: (i) ZTlido® (lidocaine topical system) 1.8%, a prescription lidocaine topical product approved by the U.S. Food and Drug Administration (the “FDA”) for the relief of neuropathic pain associated with postherpetic neuralgia, which is a form of post-shingles nerve pain; (ii) ELYXYB®, a potential first-line treatment and the only FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults; and (iii) Gloperba®, the first and only liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults, expected to launch in the first half of 2024.

In addition, Scilex has three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (“SEMDEXA™” or “SP-102”), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica for which Scilex has completed a Phase 3 study and has granted Fast Track status from the FDA in 2017; (ii) SP-103 (lidocaine topical system) 5.4%, (“SP-103”), a next-generation, triple-strength formulation of ZTlido, for the treatment of chronic neck pain and for which Scilex has recently completed a Phase 2 trial in low back pain. SP-103 has granted Fast Track status from the FDA in low back pain; and (iii) SP-104 (4.5 mg, low-dose naltrexone hydrochloride delayed-release capsules) (“SP-104”), a novel low-dose delayed-release naltrexone hydrochloride being developed for the treatment of fibromyalgia, for which Phase 1 trials were completed in the second quarter of 2022 and a Phase 2 clinical trial is expected to commence in 2024.

Scilex Holding Company is headquartered in Palo Alto, California.

Forward-Looking Statements

This press release and any statements made for and during any presentation or meeting concerning the matters discussed in this press release contain forward-looking statements related to Scilex and its subsidiaries under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding any early expiration of the restrictions on transfer of the Dividend Stock, Scilex’s expectation to launch Gloperba® in the first half of 2024 and plans to initiate a Phase 2 clinical trial in 2024 for SP-104.

Risks and uncertainties that could cause Scilex’s actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to: risks associated with the unpredictability of trading markets and whether a market will be established for Scilex’s common stock; general economic, political and business conditions; risks related to COVID-19 (and other similar disruptions); the risk that the potential product candidates that Scilex develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; risks relating to uncertainty regarding the regulatory pathway for Scilex’s product candidates; the risk that Scilex will be unable to successfully market or gain market acceptance of its product candidates; the risk that Scilex’s product candidates may not be beneficial to patients or successfully commercialized; the risk that Scilex has overestimated the size of the target patient population, their willingness to try new therapies and the willingness of physicians to prescribe these therapies; risks that the outcome of the trials and studies for SP-102, SP-103 or SP-104 may not be successful or reflect positive outcomes; risks that the prior results of the clinical and investigator-initiated trials of SP-102 (SEMDEXA™), SP-103 or SP-104 may not be replicated; regulatory and intellectual property risks; and other risks and uncertainties indicated from time to time and other risks described in Scilex’s most recent periodic reports filed with the Securities and Exchange Commission, including Scilex’s Annual Report on Form 10-K for the year ended December 31, 2023, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and Scilex undertakes no obligation to update any forward-looking statement in this press release except as may be required by law.

Contacts:

Investors and Media
Scilex Holding Company
960 San Antonio Road
Palo Alto, CA 94303
Office: (650) 516-4310

Email: investorrelations@scilexholding.com

Website: www.scilexholding.com

SEMDEXA™ (SP-102) is a trademark owned by Semnur Pharmaceuticals, Inc., a wholly-owned subsidiary of Scilex Holding Company. A proprietary name review by the FDA is planned.

ZTlido® is a registered trademark owned by Scilex Pharmaceuticals Inc., a wholly-owned subsidiary of Scilex Holding Company.

Gloperba® is the subject of an exclusive, transferable license to use the registered trademark by Scilex Holding Company.

ELYXYB® is a registered trademark owned by Scilex Holding Company.

All other trademarks are the property of their respective owners.

© 2024 Scilex Holding Company All Rights Reserved.



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Stingray Stingray 4 months ago
It's out till September now...check news from a few days ago
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ThatBobGuy ThatBobGuy 4 months ago
Showing signs of life.

I do wish there was some resolution to those restricted shares. I heard sometime in March but we’re getting to the end of the month so….
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Monksdream Monksdream 4 months ago
SCLX 10Q due 3/18
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Monksdream Monksdream 4 months ago
SCLX 10Q due March 13
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cfoofme cfoofme 5 months ago
Interesting & perhaps good news for gout patients.
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Brandywhitneylady Brandywhitneylady 5 months ago
Henry Ji is the director & Executive Chairperson of Scilex Holding Co. Other key executives at Scilex Holding Co include Chief Financial Officer Stephen Hoi Ma , 10 percent owner Sclx Stock Acquisition Jv Llc
💩 1 🤡 1
CharlesNet CharlesNet 5 months ago
Well, it’s my understanding that Sorrento no longer is involved with SCLX. I think it’s pretty interesting though that they’re trying to raise a bunch of money. What I am wondering is if silex now is going to try to purchase Sorrento. I hope is that the incestuous relationship is over. It looks to me like Zach has some good opportunity to grow as long as Ji is no longer involved.
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Brandywhitneylady Brandywhitneylady 5 months ago
Ji opening up the ATM machine today, similar to the way he drove Sorrento to bankruptcy. Let’s see how long it takes him to do the same to Scilex. Pump up the price with some fluff news, then drop the hammer. Seems familiar.
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CharlesNet CharlesNet 5 months ago
Yippee Go $SCLX!!!
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nsomniyak nsomniyak 6 months ago
Company management would be a place to start.
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Brandywhitneylady Brandywhitneylady 6 months ago
Their CEO, the great Dr.Ji. He will drive this into bankruptcy too.
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hbhmb hbhmb 7 months ago
Been following this looks like has a lot of potential. Trying to find out what caused drop from $17. Any reasonable adult answers appreciated

Thanks
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hbhmb hbhmb 7 months ago
Been following this looks like has a lot of potential. Trying to find out what caused drop from $17. Any reasonable adult answers appreciated

Thanks
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Stingray Stingray 8 months ago
Buy some soon...I think the top is going to pop of of SCLX
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whomarjb whomarjb 8 months ago
March 2024
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ThatBobGuy ThatBobGuy 8 months ago
Any news on the restricted shares? My Schwab account doesn’t seem to have any answers. I’d like to dump them.
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CharlesNet CharlesNet 9 months ago
Nice move today in the Green
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Here Today Here Today 10 months ago
I think there is a good case against Dr Ji for Insider Trading against SCLX since I do not believe he is allowed to place Put or Call Options in his position…. Anyone else thinking the same???
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Here Today Here Today 10 months ago
Dr Henry Ji - Scum sucking bastard should rot in hell…..
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Here Today Here Today 10 months ago
That is a complete and utter disregard for all the shareholders who owned shares of both companies. As someone in his position with both companies to actually be placing these bets “for or against” or “calls or Puts” is despicable since he never reported until after the Situation of the extreme short/naked short shares developed.
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Here Today Here Today 10 months ago
Wow…. Dr Henry has “Put” Options placed against SCLX…..

https://www.otcmarkets.com/filing/html?
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Monksdream Monksdream 10 months ago
SCLX new 52 week low
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sc00pnDump sc00pnDump 10 months ago
8k out not bad
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Monksdream Monksdream 10 months ago
SCLX new 52 week low
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Monksdream Monksdream 10 months ago
SCLX new 52 week low
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Monksdream Monksdream 10 months ago
SCLX new 52 week low
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ezyE ezyE 11 months ago
Look like if we get good news we fly
Which can come at a moment notice
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whomarjb whomarjb 11 months ago
Looks as though they will bleed all the value from this one before our September 1 deadline
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Here Today Here Today 1 year ago
Looks like a Massive Squeeze is in-bound:


Scilex Holding Company Announces that Sorrento Therapeutics, Inc.’s Bankruptcy Court Issues Temporary Restraining Order Against Brokerage Firms and Suspends Short-Sales of Dividended Scilex Stock
PALO ALTO, Calif., June 15, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (OTC: SRNEQ), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced that, in connection with Sorrento Therapeutics, Inc.’s ongoing chapter 11 case, the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) has entered a temporary restraining order suspending short-sales of common stock of Scilex Holding Company (Nasdaq: SCLX, “Scilex”) that Sorrento distributed to its stockholders on or around January 19, 2023 (the “Dividended Scilex Stock”).??
In addition, the Bankruptcy Court ordered certain brokerage firms to provide an accounting of all profits received from naked short-selling of Dividended Scilex Stock and Scilex common stock, including all interest charged to short-sellers, no later than five business days after entry of the order.
The Bankruptcy Court’s temporary restraining order grants a request by the Official Committee of Equity Security Holders in Sorrento’s chapter 11 case, who had asked for the relief. The Official Committee of Equity Security Holders was appointed in the case to act as a fiduciary for, and represent the interests of, all Sorrento stockholders.
The Bankruptcy Court will conduct a hearing to consider the committee’s related request for a preliminary injunction on such issues on June 27, 2023 at 9:30 a.m. (prevailing Central Time) in Courtroom 400, 515 Rusk Street, Houston, Texas.
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vinovista vinovista 1 year ago
I suspect once the brokerages comply with the latest court order to close out all short positions or pay the $1/share short after the 5 day compliance period for every share not covered, the restricted shares will be unrestricted. BUT only after all the short positions both naked and common have been closed out and paid for. Over 10 million short with only 3 million in the float. Hummmmm, you do the math!
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vinovista vinovista 1 year ago
NO! The restriction will remain until 9/1/23.
Not having a value on your sclx divi shares would be like you transfering cash in to your account and the brokerage not have it show up in your account and telling you, you will have to wait until we are done using your cash.
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whomarjb whomarjb 1 year ago
"Sorrento Therapeutics, Inc.'s Bankruptcy Court Orders Brokerage Firms to Credit Dividended Scilex Stock to Customers' Accounts and Sorrento Advises Holders of Dividended Scilex Stock to Contact Brokerage Firms to Deliver the Stock to Individual Accounts"

https://finance.yahoo.com/news/sorrento-therapeutics-inc-bankruptcy-court-190000312.html

I wonder if this means that once the dividend shares are distributed to our accounts that we can sell immediately, before the September 1 restriction date?
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G-lupo G-lupo 1 year ago
What is up with this, was it a shirt squeeze, pump and dump? So many of us have these dividend shares but was locked up , it’s a joke.
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abrooklyn abrooklyn 1 year ago
https://www.otcmarkets.com/filing/conv_pdf?id=16588662&guid=5lu-kpannBpCJth

Item 8.01. Other Events.
As previously disclosed, the Company’s majority stockholder, Sorrento Therapeutics, Inc. (“Sorrento”) and its wholly-owned direct subsidiary, Scintilla Pharmaceuticals, Inc. (together with Sorrento, the “Debtors”), commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code,” and such cases, the “Chapter 11 Cases”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).
As previously disclosed, on or around January 19, 2023, Sorrento distributed shares of the Company’s common stock to Sorrento’s stockholders (the “Distributed Stock”), which were restricted from being further transferred until May 11, 2023 (the “Lock-up”) as reflected in a restrictive legend.
On April 24, 2023, the Official Committee of Unsecured Creditors in the Chapter 11 Cases filed the Official Committee of Unsecured Creditors’ Emergency Motion to Extend the Application of the Automatic Stay to Continue the Restricted Trading Period for Shares of Scilex Stock Distributed to the Debtors’ Shareholders (the “Motion”), seeking the Bankruptcy Court’s extension of the application of the automatic stay to continue the restricted trading period for the Distributed Stock.
On April 25, 2023, the Bankruptcy Court entered an order approving the relief requested in the Motion (the “Order”). As set forth in the Order, the Bankruptcy Court extended the Lock-up period for the Distributed Stock until September 1, 2023 (or an otherwise earlier date to be determined, as set forth in the Order). Accordingly, as described in the Order, any shares of the Distributed Stock (including any such shares held by brokerage firms) may not be sold, transferred or otherwise disposed of and the holders of Distributed Stock are prohibited from causing or encouraging any third party to do the same. This extension applies only to the Distributed Stock and does not apply to any securities of Scilex held by Sorrento or any other Scilex securities.
The Company has notified its transfer agent of the Order and the extension of the Lock-up period and, in light of the Order, the restrictive legend on each share of Distributed Stock will be updated to read as follows:
THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED, PLEDGED, HYPOTHECATED, LOANED, ENCUMBERED OR OTHERWISE DISPOSED OF WITHOUT THE CONSENT OF SCILEX HOLDING COMPANY (THE “COMPANY”) PRIOR TO SEPTEMBER 1, 2023. A TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE SHALL BE DEEMED TO INCLUDE, WITHOUT LIMITATION, THE (A) SALE OR ASSIGNMENT OF, OFFER TO SELL, CONTRACT OR AGREEMENT TO SELL, GRANT OF ANY OPTION TO PURCHASE OR OTHERWISE DISPOSE OF OR AGREEMENT TO DISPOSE OF, DIRECTLY OR INDIRECTLY, OR ESTABLISHMENT OR INCREASE OF A PUT EQUIVALENT POSITION OR LIQUIDATION WITH RESPECT TO OR DECREASE OF A CALL EQUIVALENT POSITION WITHIN THE MEANING OF SECTION 16 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (THE “EXCHANGE ACT”), WITH RESPECT TO, ANY SECURITY OF THE COMPANY, (B) ENTRY INTO ANY SWAP OR OTHER ARRANGEMENT THAT TRANSFERS TO ANOTHER, IN WHOLE OR IN PART, ANY OF THE ECONOMIC CONSEQUENCES OF OWNERSHIP OF ANY SECURITY OF THE COMPANY, WHETHER ANY SUCH TRANSACTION IS TO BE SETTLED BY DELIVERY OF SUCH SECURITIES, IN CASH OR OTHERWISE, AND (C) ENGAGEMENT, WHETHER DIRECTLY OR INDIRECTLY, IN ANY (I) “SHORT SALE” (AS SUCH TERM IS DEFINED IN RULE 200 OF REGULATION SHO OF THE EXCHANGE ACT) OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE OR (II) HEDGING TRANSACTION, WHICH ESTABLISHES A NET SHORT POSITION WITH RESPECT TO ANY SECURITIES OF THE COMPANY (INCLUDING THE COMMON STOCK OF THE COMPANY), WITH RESPECT TO EACH OF CLAUSES (I) AND (II) HEREOF, EITHER FOR THE HOLDER’S OWN PRINCIPAL ACCOUNT OR FOR THE PRINCIPAL ACCOUNT OF ANY OTHER PERSON.
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Stingray Stingray 1 year ago
Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, today announced that, in connection with its ongoing chapter 11 case, the U.S. Bankruptcy Court for the Southern District of Texas entered an order extending the expiration of the restrictions on transfer on the Distributed Stock from May 11, 2023 to September 1, 2023 (or an otherwise earlier date to be determined, as set forth in the order).

https://www.globenewswire.com/news-release/2023/04/25/2654582/0/en/Scilex-Holding-Company-Announces-that-its-Majority-Stockholder-Sorrento-Therapeutics-Inc-has-Issued-a-Notice-that-Sorrento-s-Bankruptcy-Court-has-Extended-the-Lockup-Period-on-Shar.html
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Here Today Here Today 1 year ago
They probably will look to sell stock once the PPS is back up into the higher Teens to possible $20’s once the revenue starts flowing in from the deal they recently announced. Will be interesting to see how Q3 and Q4 go.
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OmahaInvestor OmahaInvestor 1 year ago
Thanks for the 411 Stingray! I hope it bounces back up. It really helps to offset the Sorrento bath I have taken so if it gets me back to even (which would be around $20 pps) with SRNE, I will sell to break even between the two…and may consider doing keeping it if the rise is steady and not a spike. Have a GREAT day!
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