Scilex Holding Firm Declares That The U.S. Chapter Courtroom Has Prolonged The Lockup Interval On Shares Of Scilex Dividend Inventory Beforehand Distributed By Sorrento To Its Stockholders As A Dividend To January 31, 2025 – Sorrento Therapeutics Inc (OTC:SRNEQ), Scilex Holding (NASDAQ:SCLX)

• US Chapter Courtroom for the Southern District of Texas issued an order to increase the lock-up interval on the Scilex Dividend Inventory, beforehand distributed by Sorrento, to January 31, 2025.
• Accordingly, any shares of the Dividend Inventory (together with any such shares held by brokerage corporations) might not be bought, transferred or in any other case disposed of.
• Scilex’s switch agent, Continental Inventory Switch & Belief Firm, has been notified of the lock-up extension to January 31, 2025.

PALO ALTO, CALIFORNIA – September 26, 2024 (GLOBE NEWSWIRE) – Scilex Holding Firm SCLX “Scilex”))), an modern revenue-generating firm targeted on buying, creating and commercializing non-opioid ache administration merchandise for the therapy of acute and power ache, as we speak introduced that the U.S. Chapter Courtroom for the Southern District of Texas (the “Courtroom”) has prolonged the expiration of the restrictions on switch of the shares of frequent inventory of Scilex that had been beforehand distributed by Sorrento Therapeutics, Inc. SRNEQ “Sorrento”))), Scilex’s former controlling stockholder, to Sorrento’s stockholders as a dividend on January 19, 2023 (the “Dividend Inventory”). Such lock-up interval was beforehand set to run out on the sooner of (i) September 30, 2024 or (ii) the date on which Sorrento and its Official Committee of Unsecured Collectors agreed in writing or on the document in Sorrento’s chapter 11 circumstances sure claims that could be asserted in potential litigation to keep away from Sorrento’s distribution of Dividend Inventory and to recuperate such Dividend Inventory, shouldn’t be pursued, or on such date that the Courtroom deems simply and correct. On September 25, 2024, the Courtroom authorised a movement to increase the lock-up interval on the Dividend Inventory to January 31, 2025.

Accordingly, any shares of the Dividend Inventory (together with any such shares held by brokerage corporations) might not be bought, transferred or in any other case disposed of.  The foregoing extension shall apply solely to the Dividend Inventory and doesn’t apply to every other excellent securities of Scilex. 

To evaluate the Courtroom order, please click on the hyperlink right here. 

For extra data on Scilex Holding Firm, check with www.scilexholding.com

For extra data on Semnur Prescribed drugs, check with www.semnurpharma.com

For extra data on Scilex Holding Firm Sustainability Report, check with www.scilexholding.com/investors/sustainability

For extra data on ZTlido® together with Full Prescribing Info, check with www.ztlido.com.

For extra data on ELYXYB®, together with Full Prescribing Info, check with www.elyxyb.com.

For extra data on GLOPERBA®, together with Full Prescribing Info, check with www.gloperba.com.

About Scilex Holding Firm  

Scilex Holding Firm is an modern revenue-generating firm targeted on buying, creating and commercializing non-opioid ache administration merchandise for the therapy of acute and power ache. Scilex targets indications with excessive unmet wants and enormous market alternatives with non-opioid therapies for the therapy of sufferers with acute and power ache and is devoted to advancing and bettering affected person outcomes.   Scilex’s industrial merchandise embody: (i) ZTlido® (lidocaine topical system) 1.8%, a prescription lidocaine topical product authorised by the U.S. Meals and Drug Administration (the “FDA”) for the reduction of neuropathic ache related to postherpetic neuralgia, which is a type of post-shingles nerve ache; (ii) ELYXYB®, a possible first-line therapy and the one FDA-approved, ready-to-use oral resolution for the acute therapy of migraine, with or with out aura, in adults; and (iii) GLOPERBA®, the primary and solely liquid oral model of the anti-gout medication colchicine indicated for the prophylaxis of painful gout flares in adults. 

As well as, Scilex has three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (“SEMDEXA^TM” or “SP-102”), a novel, viscous gel formulation of a broadly used corticosteroid for epidural injections to deal with lumbosacral radicular ache, or sciatica, for which Scilex has accomplished a Section 3 examine and was granted Quick Observe standing 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 therapy of power neck ache and for which Scilex has not too long ago accomplished a Section 2 trial in low again ache.  SP-103 has been granted Quick Observe standing from the FDA in low again ache; 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 therapy of fibromyalgia, for which Section 1 trials had been accomplished within the second quarter of 2022.

Scilex Holding Firm is headquartered in Palo Alto, California. 

Ahead-Trying Statements

This press launch and any statements made for and through any presentation or assembly in regards to the issues mentioned on this press launch include forward-looking statements associated to Scilex and its subsidiaries underneath the protected harbor provisions of Part 21E of the Personal Securities Litigation Reform Act of 1995 and are topic to dangers and uncertainties that might trigger precise outcomes to vary materially from these projected.  Ahead-looking statements embody statements relating to Scilex’s long-term targets and commercialization plans, future alternatives for Scilex, Scilex’s future enterprise methods and Scilex’s present and potential product candidates.     

Dangers and uncertainties that might trigger Scilex’s precise outcomes to vary materially and adversely from these expressed in our forward-looking statements, embody, however should not restricted to: dangers related to the unpredictability of buying and selling markets; normal financial, political and enterprise circumstances; the danger that the potential product candidates that Scilex develops might not progress via scientific improvement or obtain required regulatory approvals inside anticipated timelines or in any respect; dangers referring to uncertainty relating to the regulatory pathway for Scilex’s product candidates; the danger that Scilex will probably be unable to efficiently market or acquire market acceptance of its product candidates; the danger that Scilex’s product candidates might not be helpful to sufferers or efficiently commercialized; the danger that Scilex has overestimated the dimensions of the goal affected person inhabitants, their willingness to strive new therapies and the willingness of physicians to prescribe these therapies; dangers that the end result of the trials and research for SP-102, SP-103 or SP-104 might not be profitable or mirror optimistic outcomes; dangers that the prior outcomes of the scientific and investigator-initiated trials of SP-102 (SEMDEXA™), SP-103 or SP-104 might not be replicated; regulatory and mental property dangers; and different dangers and uncertainties indicated now and again and different dangers described in Scilex’s most up-to-date periodic experiences filed with the Securities and Trade Fee, together with Scilex’s Annual Report on Type 10-Okay for the 12 months ended December 31, 2023 and subsequent Quarterly Studies on Type 10-Q that the Firm has filed or might file, together with the danger elements set forth in these filings.  Traders are cautioned to not place undue reliance on these forward-looking statements, which converse solely as of the date of this launch, and Scilex undertakes no obligation to replace any forward-looking assertion on this press launch besides as could also be required by regulation.  

Contacts:

Traders and Media
Scilex Holding Firm
960 San Antonio Highway
Palo Alto, CA 94303
Workplace: (650) 516-4310

Electronic mail: [email protected]

Web site: www.scilexholding.com

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SEMDEXA™ (SP-102) is a trademark owned by Semnur Prescribed drugs, Inc., a wholly-owned subsidiary of Scilex Holding Firm.  A proprietary identify evaluate by the FDA is deliberate.

ZTlido® is a registered trademark owned by Scilex Prescribed drugs Inc., a wholly-owned subsidiary of Scilex Holding Firm. 

GLOPERBA® is the topic of an unique, transferable license to Scilex Holding Firm to make use of the registered trademark.

ELYXYB® is a registered trademark owned by Scilex Holding Firm.  

All different logos are the property of their respective homeowners.  

© 2024 Scilex Holding Firm All Rights Reserved. 

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