Scilex Holding Company: Merger Agreement Amended, Adds Russell Indexes, Reports Earnings, and Announces FDA Approval

Scilex Holding Company has amended its merger agreement with Denali Capital and added to several Russell indexes. The company has also reported earnings results for Q1 2025 and regained compliance with Nasdaq listing rules. Scilex received FDA orphan drug designation for its version of colchicine and approval for ELYXYB's acute treatment of migraine in Canada. The company also implemented a 1-for-35 reverse stock split and terminated a sales agreement with B. Riley, Cantor Fitzgerald, and H.C. Wainwright.

Scilex Holding Company (NasdaqCM: SCLX) has made significant strides in recent months, with notable developments including the amendment of its merger agreement with Denali Capital, additions to several Russell indexes, and strong earnings reports. The company also received FDA orphan drug designation for its version of colchicine and approval for ELYXYB's acute treatment of migraine in Canada. Additionally, Scilex implemented a 1-for-35 reverse stock split and terminated a sales agreement with B. Riley, Cantor Fitzgerald, and H.C. Wainwright.

Merger Agreement Amendment and Index Additions

Scilex Holding Company amended its merger agreement with Denali Capital, pushing the deadline with extra funding [1]. The company was also added to several Russell indexes, including the Russell Microcap Growth Index, Russell Microcap Index, Russell 3000E Growth Index, and Russell 3000E Index, effective June 29, 2025 [1].

Earnings Reports and FDA Approvals

Scilex reported its earnings results for the first quarter ended March 31, 2025, and regained compliance with Nasdaq listing rules, leading to a rise in shares [1]. The company received FDA orphan drug designation for its version of colchicine for the treatment of pericarditis [1]. Additionally, Scilex's ELYXYB received approval for its acute treatment of migraine in Canada from Health Canada's Pharmaceutical Drugs Directorate [1].

Reverse Stock Split and Sales Agreement Termination

Scilex implemented a 1-for-35 reverse stock split, which was announced on April 11, 2025 [1]. The company also terminated its sales agreement with B. Riley, Cantor Fitzgerald, and H.C. Wainwright, effective March 5, 2025 [1].

References

[1] https://www.marketscreener.com/news/scilex-holding-co-amends-merger-agreement-with-denali-capital-ce7c5cd2da8ef227