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Update
$Scilex Holding (SCLX.US)$ $Denali Capital Acquisition Corp (DECA.US)$ Semnur Eyes Potential $2.5B Acquisition of SP-102 as Business Combination With Denali Nears
Benzinga·
Semnur is currently in discussions regarding strategic regional and/or worldwide collaborations and potential outright acquisition of SP-102. Any such transactions may have the potential to provide value in excess of $2.5 billion after the proposed business combination (the "Business Combination") with Denali Capital Acquisition Corp. (NASDAQ:DECA, the "SPAC"))))).Based on an independent market research conducted by Syneos Health Consulting ("Syneos"), with the substantial intent in utilization for SP-102 (SEMDEXA) with peak sales potential projected to reach $3.6 billion annually in the 5th year post launch of SP-102.Semnur Pharmaceuticals, Inc. ("Semnur"), a wholly owned subsidiary of Scilex Holding Company (NASDAQ:SCLX, "Scilex"))))) announced that it anticipates the filing of a Registration Statement on Form S-4 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") before the end of October 2024 for the previously announced proposed Business Combination with Denali Capital Acquisition Corp. (NASDAQ:DECA, the "SPAC"))))), which provides for a pre-transaction equity value of Semnur of $2.5 billion.The closing of the Business Combination is expected to occur by the end of fourth quarter of 2024 or the first quarter of 2025.
Benzinga·
Semnur is currently in discussions regarding strategic regional and/or worldwide collaborations and potential outright acquisition of SP-102. Any such transactions may have the potential to provide value in excess of $2.5 billion after the proposed business combination (the "Business Combination") with Denali Capital Acquisition Corp. (NASDAQ:DECA, the "SPAC"))))).Based on an independent market research conducted by Syneos Health Consulting ("Syneos"), with the substantial intent in utilization for SP-102 (SEMDEXA) with peak sales potential projected to reach $3.6 billion annually in the 5th year post launch of SP-102.Semnur Pharmaceuticals, Inc. ("Semnur"), a wholly owned subsidiary of Scilex Holding Company (NASDAQ:SCLX, "Scilex"))))) announced that it anticipates the filing of a Registration Statement on Form S-4 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") before the end of October 2024 for the previously announced proposed Business Combination with Denali Capital Acquisition Corp. (NASDAQ:DECA, the "SPAC"))))), which provides for a pre-transaction equity value of Semnur of $2.5 billion.The closing of the Business Combination is expected to occur by the end of fourth quarter of 2024 or the first quarter of 2025.
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