Welcome to our dedicated page for Scilex Holding Company news (Ticker: SCLX), a resource for investors and traders seeking the latest updates and insights on Scilex Holding Company stock.
Scilex Holding Company (NASDAQ: SCLX) is a forward-thinking, revenue-generating firm headquartered in Palo Alto, California, known for its focus on acquiring, developing, and commercializing non-opioid pain management products. The company's mission centers around addressing acute and chronic pain with innovative treatments that offer alternatives to opioid medications.
Scilex's flagship commercial product is ZTlido (lidocaine topical system) 1.8%, a prescription product approved by the U.S. Food and Drug Administration (FDA) for relieving neuropathic pain associated with postherpetic neuralgia, a form of post-shingles nerve pain. Another key product is ELYXYB, an FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults.
The company also markets Gloperba (colchicine USP), the first and only liquid oral formulation of colchicine for the prophylaxis of painful gout flares in adults. The FDA recently approved the commercial manufacturing of Gloperba, and it is set to launch in major wholesalers and pharmacies by June 2024.
In addition to their commercial products, Scilex is advancing three promising product candidates:
- SP-102 (SEMDEXA™): A novel, viscous gel formulation of dexamethasone sodium phosphate for epidural injections to treat lumbosacral radicular pain, including sciatica. It has completed a Phase 3 study and was granted Fast Track status by the FDA in 2017.
- SP-103: A next-generation, triple-strength formulation of ZTlido for the treatment of chronic neck pain, which completed a Phase 2 trial in low back pain and received Fast Track status from the FDA in 2023.
- SP-104: A novel, low-dose delayed-release naltrexone hydrochloride capsule for the treatment of fibromyalgia, with Phase 1 trials completed in mid-2022.
Recently, Scilex resolved ANDA patent issues, paving the way for final FDA approval of an expanded label for Gloperba, which aims to provide specific dosing guidance for patients with renal impairment.
Scilex's focus on unmet needs in pain management, combined with its robust pipeline and strategic partnerships, positions it as a leader in the non-opioid pain management market. The company is dedicated to improving patient outcomes and advancing non-opioid alternatives to meet the growing demand for effective pain relief solutions.
For more information, visit www.scilexholding.com.
Scilex Holding Company (Nasdaq: SCLX) has announced that its majority stockholder, Sorrento Therapeutics, Inc. (OTC: SRNEQ), received an extension from the U.S. Bankruptcy Court for the Southern District of Texas. The expiration date for the transfer restrictions on shares distributed as a dividend on January 19, 2023, has been extended from May 11, 2023, to September 1, 2023.
This extension prohibits the sale or transfer of the Distributed Stock and any encouragement for third parties to do so. Scilex focuses on non-opioid pain management solutions and has been actively commercializing its products. Its recent FDA approvals, including ElyxybTM, enhance its market presence.
Scilex Holding Company (Nasdaq: SCLX) announced a master distributor agreement with AD Ports Logistics to distribute ZTlido® in the Middle East and North Africa, covering the UAE, Qatar, Bahrain, Kuwait, Oman, and Egypt. This agreement expands Scilex's presence in the region, aimed at increasing the commercialization of its non-opioid pain management products. ZTlido® is a lidocaine topical system that addresses neuropathic pain associated with post-herpetic neuralgia, offering improved adhesion and extended pain relief. Scilex aims to contribute to Abu Dhabi's establishment as a global life sciences hub while enhancing healthcare quality across the region.
Scilex Holding Company (Nasdaq: SCLX) has announced a postponement of its 2023 Annual Meeting of Stockholders, originally scheduled for April 17, 2023, now moved to May 4, 2023. This decision comes in light of an underreporting issue affecting more than 44 million shares of its common stock, reported by various brokerage firms to Broadridge Financial Solutions. The postponement allows additional time for these firms to comply with U.S. Bankruptcy Court orders related to Sorrento's chapter 11 case. The court orders are aimed at verifying ownership information concerning Scilex common stock linked to a dividend distribution by Sorrento. The company anticipates that compliance will enable a substantial number of underreported shares to participate in the Annual Meeting.
Scilex Holding Company (SCLX) has postponed its 2023 Annual Meeting of Stockholders, originally scheduled for April 6, 2023, to April 17, 2023, due to significant underreporting of over 44 million shares of common stock by brokerage firms. This decision follows a court order from the U.S. Bankruptcy Court compelling these firms to provide information regarding stock ownership related to a recent dividend of 76 million shares of Scilex stock held by its parent company, Sorrento Therapeutics. Compliance with the court's order is expected to allow the underreported shares to participate in the Annual Meeting, potentially impacting shareholder votes and corporate governance.
Sorrento Therapeutics (OTC: SRNEQ) announced a court order on April 4, 2023, requiring top brokers to disclose information regarding Scilex Holding Company (NASDAQ: SCLX) shares amidst its Chapter 11 proceedings initiated on February 13, 2023. This follows Sorrento's December 30, 2022, dividend announcement of 76 million Scilex shares, which brokerages have not reported to Broadridge Financial Solutions for Scilex's upcoming shareholder meeting on April 6, 2023. Sorrento seeks to maximize stakeholder value while navigating its bankruptcy case, with Scilex not being a debtor in the proceedings.
Scilex Holding Company (Nasdaq: SCLX) announced that over 44 million shares of its common stock remain unreported by brokerage firms for the upcoming Annual Meeting on April 6, 2023. This widespread under-reporting could lead to legal challenges, as it violates obligations under federal law. Scilex is coordinating with regulatory agencies to address these violations and protect stockholder voting rights. The company also clarified that all holders of Scilex common stock, including the Dividend Stock, are entitled to vote. Scilex urges stockholders to contact their brokers to demand delivery of proxy materials.
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