Semnur Pharmaceuticals, Inc., a majority-owned subsidiary of Scilex Holding Company, and Denali Capital Acquisition Corp. entered into a purchase agreement for a $20 million private placement.
The proceeds from this private placement, at $16.00 per share, will be used to advance the second Phase 3 clinical trial for SP-102 (SEMDEXA), a treatment for lumbosacral radicular pain (LRP)/sciatica. The closing of this financing is subject to customary conditions and is expected to occur immediately following the business combination.
Additionally, Jaisim Shah resigned as Chief Executive Officer and President of Scilex, effective August 17, 2025, to dedicate himself full-time as CEO and President of Semnur. Henry Ji, Ph.D., Scilex's Executive Chairman, was appointed as Scilex's new CEO and President, ensuring leadership continuity while prioritizing Semnur's development.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.