Scilex Holding Company Announces the Completion of the First Tranche of the Oramed Pharmaceuticals, Inc. Warrant Repurchase

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]