Scilex Holding Co SCLX
We are an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. We target 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.
Our commercial products are: (i) ZTlidoÒ (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 ("PHN"), 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, which launched in June 2024. In addition, we have three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) ("SEMDEXAÔ"), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica for which we have completed a Phase 3 study; (ii) SP-103 (lidocaine topical system) 5.4% ("SP-103"), a next-generation, triple-strength formulation of ZTlido, for the treatment of acute pain and for which we have completed a Phase 2 trial in acute low back pain ("LBP"); 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. We believe our currently approved products and future product candidates, if approved by the FDA, could uniquely address what we believe are the significant unmet needs of the targeted populations and become the preferred treatment option for their respective indications.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $30.3M | $56.6M | $46.7M | $38.0M | $31.3M | $23.6M | — |
| Cost of revenue | $10.6M | $16.7M | $15.7M | $10.8M | $3.6M | $2.1M | — |
| Gross profit | $125.8M | $167.4M | $31.1M | $27.2M | $27.7M | $21.4M | — |
| R&D | $20.7M | $9.6M | $12.7M | $9.1M | $9.2M | $10.0M | — |
| SG&A | $266.9M | $119.0M | $119.6M | $64.9M | $50.6M | $43.0M | — |
| Operating income | -$346.0M | -$83.4M | -$105.4M | -$50.6M | -$35.8M | -$35.3M | — |
| Interest expense | $11.5M | $2.0M | $1.1M | $9.6M | $11.8M | $13.1M | — |
| Pre-tax income | -$374.0M | -$72.8M | -$114.3M | -$23.4M | -$88.4M | -$47.6M | — |
| Income tax | $26.0K | $1.0K | $13.0K | $4.0K | $5.0K | $53.0K | — |
| Net income | -$374.1M | -$72.8M | -$114.3M | -$23.4M | -$88.4M | -$47.5M | — |
| EPS, basic | -36.48 | -7.24 | -1.28 | -0.17 | -0.67 | -0.36 | — |
| EPS, diluted | -36.48 | -8.05 | -1.28 | -0.17 | -0.67 | -0.36 | — |
| Shares, diluted (wtd. avg.) | 11,034 | 10,145 | 130.3M | 134.2M | 132.9M | 132,891 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.0M | $3.3M | $4.7M | $2.2M | $4.3M | $4.8M | $55.5M |
| Short-term investments | — | — | — | — | $303.8K | — | — |
| Receivables | $15.2M | $26.4M | $34.6M | $21.2M | $14.3M | — | — |
| Inventory | $4.8M | $2.4M | $4.2M | $1.4M | $2.6M | — | — |
| Total current assets | $38.4M | $41.5M | $46.8M | $29.6M | $23.0M | $30.5K | — |
| Property, plant and equipment | $13.6M | $708.0K | $722.0K | $772.0K | $805.0K | — | — |
| Goodwill | $13.5M | $13.5M | $13.5M | $13.5M | $13.5M | — | — |
| Other intangibles | $59.1M | $32.5M | $36.5M | $40.6M | $38.8M | — | — |
| Total assets | $365.0M | $93.0M | $101.3M | $86.5M | $77.9M | $199.5K | — |
| Accounts payable | $86.3M | $52.6M | $41.0M | $8.4M | $4.3M | — | — |
| Short-term debt | $83.3M | $34.9M | $108.4M | $0 | $29.1M | — | — |
| Total current liabilities | $483.7M | $259.6M | $250.4M | $44.8M | $169.4M | $180.8K | — |
| Long-term debt | — | — | — | $0 | $72.0M | — | — |
| Total liabilities | $576.7M | $285.6M | $274.2M | $50.3M | $301.8M | $180.8K | — |
| Retained earnings | -$921.8M | -$563.1M | -$490.2M | -$375.9M | -$352.6M | -$6.3K | — |
| Total equity | -$207.8M | -$192.6M | -$172.9M | $36.2M | -$223.9M | -$141.7M | -$90.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.8M | $19.3M | -$20.7M | -$21.3M | -$28.7M | -$31.5M | — |
| Depreciation and amortisation | $4.6M | $4.0M | $4.1M | $4.0M | $3.8M | $3.8M | — |
| Stock-based compensation | $15.5M | $15.7M | $14.6M | $5.3M | $5.8M | $5.4M | — |
| Capital expenditure | $133.0K | $0 | $30.0K | $7.0K | $0 | $25.0K | — |
| Investing cash flow | $4.1M | -$2.7M | -$330.0K | -$2.1M | $0 | -$25.0K | — |
| Financing cash flow | -$5.5M | -$18.1M | $23.6M | $21.2M | $28.2M | -$19.2M | — |
| Dividends paid | — | $8.7M | $8.7M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-151455.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $23.6M | $31.3M | $38.0M | $46.7M | $56.6M | $30.3M |
| Gross profit | — | $21.4M | $27.7M | $27.2M | $31.1M | $167.4M | $125.8M |
| Net income | — | -$47.5M | -$88.4M | -$23.4M | -$114.3M | -$72.8M | -$374.1M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement signed Item 1.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Material agreement signed Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed Item 1.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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