Scilex Holding Company Sends Letters to the U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority Regarding Illegal Market Manipulation of the Common Stock of Scilex Holding Company

Core Viewpoint - Scilex Holding Company is addressing illegal market manipulation of its common stock, specifically targeting manipulative "naked short" selling practices that violate SEC Regulation SHO, which negatively impacts shareholder value and rights [1][2]. Company Overview - Scilex Holding Company is focused on acquiring, developing, and commercializing non-opioid pain management products for acute and chronic pain treatment [4][6]. - The company has several commercial products, including ZTlido® for neuropathic pain, ELYXYB® for acute migraine treatment, and Gloperba® for gout flare prophylaxis, with Gloperba® expected to launch in the first half of 2024 [4][5]. Product Pipeline - Scilex has three product candidates in development: - SP-102 (SEMDEXA™) for lumbosacral radicular pain, which has completed Phase 3 studies and received Fast Track status from the FDA [5]. - SP-103, a next-generation formulation of ZTlido for chronic neck pain, recently completed a Phase 2 trial [5]. - SP-104, a low-dose naltrexone for fibromyalgia, with Phase 1 trials completed in Q2 2022 [5]. Regulatory and Market Context - The company is actively engaging with regulatory bodies, including the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, to combat illegal short selling practices [2][3]. - Scilex aims to improve patient outcomes by targeting high unmet needs in pain management with its non-opioid therapies [4].