Scilex Holding Company Announces Early Installment Payment on its Senior Secured Promissory Note, Paving the Way for Future Growth and Innovation

Core Viewpoint - Scilex Holding Company has made an early installment payment of $13.2 million on its senior secured promissory note to Oramed Pharmaceuticals, with the remaining balance due by March 21, 2025, indicating strong financial management and commitment to debt repayment [1]. Company Overview - Scilex Holding Company is focused on acquiring, developing, and commercializing treatments for obesity, neurodegenerative diseases, cardiometabolic diseases, and non-opioid pain management products for both acute and chronic pain [1][5]. - The company is headquartered in Palo Alto, California [7][10]. Financial Actions - The early payment of $13.2 million reduces the principal balance of the Oramed Note, which will be fully retired by March 21, 2025 [1]. - This financial maneuver reflects the company's strategy to manage its liabilities effectively and enhance its balance sheet [1]. Product Portfolio - Scilex's commercial products include: - ZTlido®: A prescription lidocaine topical product for neuropathic pain relief [5]. - ELYXYB®: An FDA-approved oral solution for acute migraine treatment [5]. - Gloperba®: The first liquid oral version of colchicine for gout flare prophylaxis [5]. - The company has three product candidates in development: - SP-102 (SEMDEXA™): A viscous gel for treating lumbosacral radicular pain, with Phase 3 study completed [6]. - SP-103: A next-generation lidocaine topical system for acute pain, recently completing Phase 2 trials [6]. - SP-104: A low-dose naltrexone hydrochloride for fibromyalgia, with Phase 1 trials completed [6].