Core Viewpoint - Scilex Holding Company has entered into a definitive agreement to exercise existing warrants, which is expected to generate approximately $20.3 million in gross proceeds for the company [1][4]. Group 1: Existing Warrants - The company will exercise a total of 428,572 shares from April 2024 Warrants at an exercise price of $38.50 per share and 475,824 shares from December 2024 Warrants at an exercise price of $22.72 per share [1]. - The aggregate gross proceeds from the exercise of these existing warrants are anticipated to be around $20.3 million before deducting fees and expenses [1]. Group 2: New Warrant Issuance - In exchange for the immediate cash exercise of the existing warrants, the company will issue a new unregistered warrant to purchase up to 1,356,594 shares of common stock at an exercise price of $29.00 per share [3]. - The new warrant will be exercisable immediately upon issuance and will have a term of five years [3]. Group 3: Use of Proceeds - The net proceeds from the offering are expected to be utilized for working capital and general corporate purposes [4]. Group 4: Company Overview - Scilex is focused on acquiring, developing, and commercializing non-opioid pain management products for treating acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases [7][8]. - The company's commercial products include ZTlido, ELYXYB, and Gloperba, which target significant unmet medical needs [8][9].

Core Viewpoint - Scilex Holding Company is involved in a voluntary distribution of Dream Bowl 2026 Meme Coins to its common stockholders, facilitated by Datavault AI Inc, as a gesture of appreciation for their relationship [1][2] Company Overview - Scilex is focused on acquiring, developing, and commercializing non-opioid pain management products aimed at treating acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases [1][4] - The company has commercial products including ZTlido, ELYXYB, and Gloperba, targeting high unmet medical needs in pain management [4][5] Product Pipeline - Scilex has three product candidates in development: - SP-102, a viscous gel for epidural injections to treat lumbosacral radicular pain, which has completed a Phase 3 study and received Fast Track status from the FDA [5] - SP-103, a next-generation lidocaine topical system for acute pain, which has recently completed a Phase 2 trial and also received Fast Track status [6] - SP-104, a low-dose naltrexone hydrochloride capsule for fibromyalgia treatment [6] Distribution Details - The distribution of Dream Bowl 2026 Meme Coins will occur on November 25, 2025, for record holders of Scilex common stock, with further instructions to be provided by Datavault AI [1][2] - The payment date for the distribution is subject to the Board of Directors of Datavault AI and may change prior to the actual payment date [2][3]

Financial Performance - Net revenue for the three months ended September 30, 2025, was $10,560,000, a decrease of 26.5% from $14,436,000 in the same period of 2024[22] - Net loss attributable to common stockholders for the three months ended September 30, 2025, was $257,234,000, compared to a loss of $4,388,000 in the same period of 2024[22] - The company reported a comprehensive loss of $260,790,000 for the three months ended September 30, 2025, compared to a loss of $1,228,000 in the same period of 2024[22] - Net loss for the nine months ended September 30, 2025, was $327.948 million, compared to a net loss of $66.347 million for the same period in 2024[29] - The company reported a net loss of $42.31 million for the quarter ending June 30, 2025, contributing to an accumulated deficit of $631.44 million[25] Assets and Liabilities - Total assets increased to $275,879,000 as of September 30, 2025, compared to $92,953,000 on December 31, 2024[20] - Total liabilities rose to $455,598,000 as of September 30, 2025, compared to $285,594,000 on December 31, 2024[20] - The company’s accumulated deficit increased to $888,674,000 as of September 30, 2025, from $563,052,000 on December 31, 2024[20] - As of September 30, 2025, the Company reported negative working capital of $342.5 million and an accumulated deficit of $888.7 million[69] Expenses - Research and development expenses increased to $3,899,000 for the three months ended September 30, 2025, up from $2,349,000 in the same period of 2024, representing a 66.1% increase[22] - Selling, general and administrative expenses surged to $188,824,000 for the three months ended September 30, 2025, compared to $29,734,000 in the same period of 2024, reflecting a 534.5% increase[22] Cash Flow and Financing - Cash and cash equivalents decreased to $878,000 as of September 30, 2025, from $3,272,000 on December 31, 2024[20] - The company reported net cash proceeds from operating activities of $21.287 million for the nine months ended September 30, 2025, up from $16.815 million in 2024, representing a 26.5% increase[29] - The Company plans to secure additional resources through equity offerings, debt financings, and collaborations to fund operations for at least twelve months[70] Stock and Equity - The weighted average number of shares during the three months ended September 30, 2025, was 11,604,000, compared to 7,557,000 in the same period of 2024[22] - The balance of common stock increased to $785.30 million as of September 30, 2025, following the issuance of common stock upon the exercise of warrants[25] - The total stockholders' deficit reached $888.67 million as of September 30, 2025, indicating a significant financial challenge[25] Business Operations and Development - The company operates primarily in the development of non-opioid products focused on pain management, with all sales based in the United States[42] - The company is currently developing three product candidates: SP-102, SP-103, and SP-104, with SP-102 entering a second Phase 3 study in September 2025[34] - ELYXYB was launched in the U.S. in April 2023, and GLOPERBA was commercialized in June 2024[33] Acquisitions and Agreements - The company completed the acquisition of controlling interest in Scilex Bio, resulting in an increase of $3.25 million in additional paid-in capital[25] - The Company entered into a License Agreement with Romeg for GLOPERBA, involving an upfront fee of $2.0 million and potential milestone payments up to $13.0 million[75] - The Company entered into a License Agreement for ZTlido, granting exclusive rights for commercialization outside the U.S. and sharing 50% of net revenue with the Licensee[82] Cryptocurrency Strategy - The Company adopted a cryptocurrency treasury strategy in September 2025, beginning to acquire Bitcoin and measuring eligible crypto assets at fair value[46] - As of September 30, 2025, the Company held 1,720 Bitcoins with a fair value of $196.6 million, reflecting additions of $200 million and dispositions of $8.1 million during the period[125] Debt and Financial Instruments - The Company issued convertible debentures totaling $25 million in March 2023, fully repaid by March 2024[63] - The Company recorded changes in fair value of certain financial instruments in the unaudited condensed consolidated statements of operations[52] - The Company issued a senior secured promissory note to Oramed in the principal amount of $101.9 million, with a fair value of $24.9 million as of September 30, 2025, using a discount rate of 36.00%[102] Regulatory and Compliance - The Company is currently evaluating the impact of new accounting standards on its consolidated financial statements, including ASU 2024-03 and ASU 2024-04[55][56] - The Licensee is responsible for obtaining regulatory approval for Gloperba Products outside the U.S. at its discretion[87]

Core Points - Datavault AI Inc. has announced a special distribution of Dream Bowl Draft meme coins to eligible shareholders of Scilex Holding Company and Datavault AI, with a record date set for November 25, 2025 [1][3] - Each shareholder will receive one exclusive commemorative digital collectible for every share held, which includes features such as proof of ownership and embedded ticket information [3] - The ex-dividend date for DVLT and SCLX common stock is November 24, 2025, and short sellers must return borrowed shares by this date to avoid a "naked short" status [2] Company Overview - Datavault AI leads the development of AI-driven data experiences, asset valuation, and monetization in the Web 3.0 environment, integrating acoustic science and data science into a comprehensive cloud platform [4] - The company offers solutions across various industries, including sports entertainment, biotech, education, fintech, real estate, healthcare, and energy, utilizing patented technologies for high-performance computing [4] - Datavault AI's technology suite supports customizable features, including AI and machine learning automation, third-party integration, and marketing automation services [4]

Core Viewpoint - Scilex Holding Company announced the distribution of a Dream Bowl 2026 Meme Coin to eligible stockholders in collaboration with Datavault AI, with a record date set for November 25, 2025, and an ex-dividend date of November 24, 2025 [1][2]. Company Overview - Scilex is focused on acquiring, developing, and commercializing non-opioid pain management products for acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases [6][8]. - The company has commercial products including ZTlido® for neuropathic pain, ELYXYB® for acute migraine treatment, and Gloperba® for gout flare prophylaxis [7][8]. Product Candidates - Scilex has three product candidates: - SP-102, a viscous gel for treating lumbosacral radicular pain, which has completed Phase 3 studies and received Fast Track status from the FDA [8]. - SP-103, a next-generation lidocaine topical system for acute pain, which has completed Phase 2 trials and also received Fast Track status [8]. - SP-104, a low-dose naltrexone hydrochloride for fibromyalgia treatment [8]. Datavault AI Overview - Datavault AI is focused on AI-driven data experiences and monetization of assets, providing solutions across various industries including sports, entertainment, and healthcare [10][11]. - The company’s technology suite includes patented technologies for audio transmission and high-performance computing solutions for data perception and monetization [10]. Event Details - The Dream Bowl event will take place on January 11, 2026, at AT&T Stadium in Dallas, Texas, featuring elite athletes and e-sports competitions [4].

Core Insights - Datavault AI Inc. has announced the distribution of Dream Bowl Draft meme coins to eligible shareholders of Scilex Holding Company and Datavault AI, with a record date set for November 25, 2025 [1][2][3] Company Overview - Datavault AI is a leader in data monetization, credentialing, and digital engagement technologies, focusing on AI-driven data experiences and asset valuation in the Web 3.0 environment [4] - The company offers a cloud-based platform with solutions across various industries, including sports, entertainment, biotech, education, and healthcare [4] Upcoming Events - The Dream Bowl 2026 event will feature a special distribution of commemorative meme coins to shareholders, which will include utility features such as proof of ownership and access to exclusive content [3] - Airdrop of the tokens to Data Vault wallets is expected to occur after final roster confirmations on or after December 8, 2025 [3] Shareholder Engagement - Shareholders of Datavault AI and Scilex will receive one meme coin for each common share held as of the record date, promoting shareholder value creation and engagement [2][3] - Short sellers of DVLT and SCLX common shares must cover their positions by the ex-dividend date to avoid becoming naked short on the meme coins [2]

Core Insights - Datavault AI Inc. has granted an exclusive worldwide license to Scilex Holding Company for its AI-driven technology, aimed at creating a Biotech Exchange platform for secure tokenization and monetization of biotech assets [1][2][3] - The agreement highlights the potential to tokenize approximately $2.0 trillion in pharmaceutical drug sales and diagnostic sales, providing an alternative for companies to secure non-dilutive funding [3][4] - Datavault AI's robust intellectual property portfolio includes key patents that support the secure tokenization and exchange of sensitive genetic information [4][6] Licensing Agreement Details - Datavault AI will receive a non-refundable upfront license fee of $10 million, paid in four installments of $2.5 million each by Scilex [6][8] - Additionally, Datavault AI is eligible for sales milestone payments of up to $2.55 billion based on Scilex achieving certain sales milestones [7][8] Technology and Market Potential - The technology licensed to Scilex is expected to extend into a Pharmaceutical Exchange platform, potentially transforming the pharmaceutical industry [2] - The tokenization opportunity in the pharmaceutical sector is significant, with estimates suggesting a market size of $2.0 trillion for drug sales and diagnostics [3][4] Intellectual Property and Innovations - Datavault AI's intellectual property includes a pending patent for "Platform and Method for Tokenizing DNA Data," which establishes a secure framework for tokenizing genetic information [4][6] - The company has a comprehensive suite of issued and pending patents that support the Biotech Exchange, enabling secure data handling and monetization [4][6] Previous Collaborations and Technological Advancements - The licensing agreement builds on Datavault AI's previous collaborations, including work with Brookhaven National Laboratory on biofuel research [5] - Datavault AI's technology suite is customizable and includes AI and Machine Learning automation, third-party integration, and detailed analytics [9]

Core Viewpoint - Scilex Holding Company has acquired an exclusive worldwide license for Datavault AI's AI-driven technology, aimed at creating a Biotech Exchange platform to tokenize and monetize biotech assets, marking a significant advancement in the commercialization of biotech innovations [1][4]. Group 1: Licensing Agreement and Financial Implications - Scilex will pay a non-refundable upfront license fee of $10 million, divided into four equal installments of $2.5 million each, due by the end of September 2026 [5]. - Datavault AI could earn up to $2.55 billion in sales milestone payments based on the achievement of specific sales milestones [5]. Group 2: Market Opportunity and Tokenization Potential - Scilex estimates the opportunity to tokenize approximately $2.0 trillion in pharmaceutical drug and diagnostic sales, which could provide an alternative funding mechanism for companies to develop and commercialize products [3]. - The advanced data platform may also lead to the creation of a Pharmaceutical Exchange platform, potentially revolutionizing the pharmaceutical industry [2]. Group 3: Technology and Intellectual Property - The license includes Datavault AI's key pending patent for "Platform and Method for Tokenizing DNA Data," which provides a framework for securely tokenizing and exchanging sensitive genetic information [4]. - Datavault AI's technology suite includes multiple issued and pending patents that support the infrastructure for a secure and efficient Biotech Exchange, ensuring compliance and privacy standards [4][7].

Core Insights - Scilex Holding Company is sponsoring the Dream Bowl 2026 and will distribute a unique digital collectible, the Dream Bowl 2026 Meme Coin, to its shareholders [1][2] - Shareholders as of November 14, 2025, will receive one meme coin for each common share held, with airdrops occurring on or after November 25, 2025 [2] - The Dream Bowl event will take place on January 11, 2026, at AT&T Stadium in Dallas, Texas, featuring elite athletes and e-sports competitions [3] Company Overview - Scilex is focused on acquiring, developing, and commercializing non-opioid pain management products for acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases [1][4] - The company has commercial products including ZTlido® for neuropathic pain, ELYXYB® for acute migraine treatment, and Gloperba® for gout flare prophylaxis [4][5] - Scilex is developing three product candidates: SP-102 for lumbosacral radicular pain, SP-103 for acute pain, and SP-104 for fibromyalgia [5][6] Datavault AI Partnership - Datavault AI is involved in the distribution of the meme coin and offers a cloud-based platform for data experiences and monetization [7] - The partnership aims to enhance the recognition of ownership and provide utility through ticketing and event insights for the Dream Bowl [2][3]

Core Viewpoint - Scilex Holding Company has repurchased 3,130,000 warrants from Oramed Pharmaceuticals for $13 million, as part of a larger option agreement to repurchase a total of 6,500,000 warrants for $27 million, with the option to repurchase the remaining warrants by December 31, 2025 [1] Company Overview - Scilex is focused on acquiring, developing, and commercializing non-opioid pain management products for acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases [3][4] - The company aims to address high unmet needs in the market with non-opioid therapies, enhancing patient outcomes [3] Commercial Products - Scilex's commercial products include: - ZTlido (lidocaine topical system) 1.8%, approved for neuropathic pain relief associated with postherpetic neuralgia [3] - ELYXYB, the only FDA-approved ready-to-use oral solution for acute migraine treatment in adults [3] - Gloperba, the first liquid oral version of colchicine for gout flare prophylaxis [3] Product Candidates - Scilex has three product candidates in development: - SP-102 (SEMDEXA), a viscous gel formulation for epidural injections to treat lumbosacral radicular pain, which has completed a Phase 3 study and received Fast Track status from the FDA [4] - SP-103, a next-generation lidocaine topical system for acute pain, which has completed a Phase 2 trial and also received Fast Track status [4] - SP-104, a low-dose naltrexone hydrochloride capsule for fibromyalgia treatment [4]