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Scilex Holding Company (SCLX-4.31%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports net revenue of $14.4 million for the three months ended September 30, 2024, an increase from $10.1 million in the same period in 2023. The increase was driven by higher sales of ELYXYB and the launch of GLOPERBA.
Cost of revenue for the quarter was $3.8 million, compared to $3.4 million in the same quarter of the previous year. The increase was attributed to higher sales volumes.
Research and development expenses decreased to $2.3 million from $4.1 million, reflecting reduced costs for SP-102 and SP-104.
Selling, general, and administrative expenses decreased to $29.7 million from $40.4 million, primarily due to lower advisory and financing expenses.
The company recorded a gain of $18.1 million from derivative liabilities, reflecting changes in the fair value of warrants.
Scilex reported a net loss of $4.4 million for the quarter, compared to a net loss of $35.5 million in the previous year.
As of September 30, 2024, Scilex had cash and cash equivalents of approximately $0.1 million and an accumulated deficit of $556.6 million.
The company continues to rely on sales of ZTlido, ELYXYB, and GLOPERBA and is exploring additional funding options to support operations and development.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Scilex Holding Company quarterly 10-Q report dated January 17, 2025. To report an error, please email earnings@qz.com.