Scilex Holding Company Announces Publication of Its Inaugural Sustainability Report

Rhea-AI Summary

Scilex Holding Company (Nasdaq: SCLX), a company focused on non-opioid pain management products, has released its inaugural sustainability report. The report highlights the company's efforts in:

• Environmental stewardship: Commitment to reducing environmental footprint
• Development excellence: Improving patients' lives through innovative non-opioid pain management medicines
• Social responsibility: Ethical business practices, respecting employee rights, and fostering diversity
• Governance: Transparent corporate governance for accountability

CEO Jaisim Shah emphasized Scilex's strategy to advance patient health, foster an inclusive workforce, and reduce environmental impact. The company is committed to expanding access to non-opioid pain management products and investing in scientific excellence. This report demonstrates Scilex's commitment to innovation, responsibility, and growth in areas where they can have the greatest impact.

PALO ALTO, Calif., July 24, 2024 (GLOBE NEWSWIRE) -- 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 the release of its inaugural sustainability report which highlights sustainability efforts by the company related to its environmental footprint, contributing positively to society, and improving access to medicine within the communities it serves.

The Sustainability Report outlines, among other things:

• Environmental Stewardship: The health of our global environment impacts everyone. The Report affirms the Company’s commitment to reducing its environmental footprint.
• Development Excellence: The Company is dedicated to improving the lives of patients by discovering, developing and commercializing innovative non-opioid pain management medicines that address significant unmet medical needs.
• Social Orientation to Reinforce a Promising Future: The Company is committed to conducting business in an ethical and responsible manner. This includes respecting internationally recognized employee rights throughout its organization as well as its diverse global supply chain of numerous local and global third-party vendors and product manufacturers. Scilex believes its success will be significantly impacted by its ability to create and maintain a safe inclusive environment where everyone is empowered to do their best work — regardless of race, gender, religion, national origin, sex, sexual orientation, or disability and other characteristics protected by law.
• Governance to Support Steady Progress: Transparent corporate governance equals accountability and balancing the short-and long-term interests of Scilex’s community of stakeholders, patients, suppliers and employees.

“Our strategy focuses on advancing patient health, fostering an inclusive workforce, and reducing negative environmental impact where possible. We are committed to expanding access to non-opioid pain management products. To enable this strategy, our core mission is to provide patients with access to our medication, from raising awareness to obtaining broader public reimbursement and providing co-pay assistance. We are also committed to scientific excellence, and invest in capabilities to provide more medicines to more patients faster. Scilex’s commitment to corporate responsibility is reflected in our evolving ESG strategy, building a legacy of innovation, responsibility, and growth. The issuance of our first sustainability report is a testament to our commitment to positive change in the areas where we believe we can have the greatest impact. We believe this report demonstrates our commitment to increased transparency”, said Jaisim Shah, Chief Executive Officer and President of Scilex. A copy of the Sustainability Report can be downloaded here.

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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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 is 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.

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 was 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 been 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 Scilex’s strategies and objectives, including its sustainability efforts along with its development and commercialization plans.  

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 Scilex Holding Company to use the registered trademark.

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

What is the main focus of Scilex Holding Company's (SCLX) inaugural sustainability report?

Scilex's inaugural sustainability report focuses on environmental stewardship, development excellence in non-opioid pain management, social responsibility, and transparent corporate governance.

How does Scilex (SCLX) plan to improve access to medicine according to their sustainability report?

Scilex plans to improve access to medicine by raising awareness, obtaining broader public reimbursement, and providing co-pay assistance for their non-opioid pain management products.

What environmental commitment has Scilex (SCLX) made in their 2024 sustainability report?

In their 2024 sustainability report, Scilex has committed to reducing their environmental footprint as part of their environmental stewardship efforts.

How does Scilex (SCLX) address diversity and inclusion in their inaugural sustainability report?

Scilex's report emphasizes creating a safe, inclusive environment where everyone can do their best work, regardless of race, gender, religion, national origin, sex, sexual orientation, or disability.

What products does Scilex Holding Company (SCLX) mention in their 2024 sustainability report?

While the report focuses on sustainability efforts, Scilex mentions ZTlido®, ELYXYB®, and Gloperba® as products for which more information is available on their respective websites.