Scilex Holding Company Announces it has been Added to the MSCI Global Microcap Index

Rhea-AI Summary

Scilex Holding Company (Nasdaq: SCLX) announced it will be added to the MSCI Global Micro Cap Index effective May 31, 2024. This inclusion is expected to enhance visibility for Scilex’s non-opioid pain management therapeutics within global financial markets. MSCI, a leading provider of research and data for investment decision support, acknowledged Scilex’s progress over the past year. The company focuses on developing and commercializing products for acute and chronic pain management and has seen strong investor interest in its innovative clinical-stage portfolio.

Positive

• Inclusion in MSCI Global Micro Cap Index expected to enhance visibility and credibility.
• Strong investor interest in Scilex’s non-opioid pain management products.
• Recognition of company’s progress and innovation in pain management therapeutics.

Negative

• Potential for investor expectations to be unmet could result in volatility.
• Inclusion in the index does not guarantee financial performance improvements.
• Risks associated with clinical trials and product commercialization remain.

Has the potential to Enhance the visibility of Scilex’s Non-Opioid Pain Management Therapeutics In Global Financial Markets

PALO ALTO, Calif., May 24, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “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 it has received notification that Scilex will be added to the MSCI Global Micro Cap Index as of the close of market on Friday, May 31, 2024.

MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 45 years of expertise in research, data and technology, MSCI powers better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. MSCI creates industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process. To learn more, please visit www.msci.com.

“Coming on the heels of an exciting first quarter for our commercial opioid sparing products, with strong interest in the Company and its innovative clinical stage portfolio, as well as the encouraging level of investor interest, it is gratifying that our progress over the last year has been recognized by inclusion in this well-followed MSCI index,” commented Jaisim Shah, Scilex Chief Executive Officer and President.

For more information on Scilex Holding Company, refer to www.scilexholding.com

For more information on ZTlido^®, including Full Prescribing Information, refer to www.ztlido.com.

For more information on ELYXYB^®, including Full Prescribing Information, refer to www.elyxyb.com.

For more information on Gloperba^®, including Full Prescribing Information, refer to www.gloperba.com.

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info@scilexholding.com

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.

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 potential impact and benefits of the inclusion of Scilex in the MSCI Global Micro Cap Index on its stock price and trading volatility.

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 and subsequent Quarterly Reports on Form 10-Q that the Company has filed or may file, 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.

FAQ

When will Scilex Holding Company be added to the MSCI Global Micro Cap Index?

Scilex Holding Company will be added to the MSCI Global Micro Cap Index on May 31, 2024.

What is the stock symbol for Scilex Holding Company?

The stock symbol for Scilex Holding Company is SCLX.

How could Scilex’s inclusion in the MSCI Global Micro Cap Index affect its visibility?

Inclusion in the MSCI Global Micro Cap Index is expected to enhance Scilex’s visibility within global financial markets.

What type of products does Scilex Holding Company focus on?

Scilex Holding Company focuses on developing and commercializing non-opioid pain management products for acute and chronic pain.

Who is the CEO of Scilex Holding Company?

The CEO of Scilex Holding Company is Jaisim Shah.