UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
| Item 2.02. | Results of Operations and Financial Condition. |
Scilex Holding Company (the “Company”) is providing certain preliminary unaudited financial results for the one month ended November 30, 2023 and year-to-date through November 30, 2023, based on currently available information. The Company’s independent auditor has not reviewed or audited these preliminary estimated financial results. The Company’s actual results may differ materially from these preliminary financial results, and may be outside the estimated ranges. This preliminary financial data has been prepared by and is the responsibility of the Company. The Company has not fully completed its review of these preliminary financial results for the one month ended November 30, 2023 and year-to-date through November 30, 2023.
The Company estimates that:
| • | ZTlido gross sales for November 2023 were in the range of $14.0 million to $15.0 million with year-to-date gross sales through November 2023 in the range of $125.0 million to $135.0 million, compared to $84.6 million for year-to-date through November 2022, representing growth in the range of approximately 48% to 60%. Projected full year gross sales for ZTlido in 2023 are estimated to be in the range of $140.0 million to $150.0 million, compared to $96.0 million in 2022, representing estimated growth in the range of approximately 46% to 56%. |
| • | ZTlido net sales for November 2023 were in the range of $3.9 million to $4.5 million with year-to-date net sales through November 2023 in the range of $40.0 million to $43.0 million, compared to $33.9 million for year-to-date through November 2022, representing growth in the range of approximately 18% to 27%. Projected full year net sales for ZTlido in 2023 are estimated to be in the range of $44.0 million to $50.0 million, compared to $38.0 million in 2022, representing estimated growth in the range of approximately 16% to 32%. |
| • | Total product gross sales for November 2023 were in the range of $14.0 million to $16.0 million with year-to-date total product gross sales through November 2023 in the range of $130.0 million to $140.0 million, compared to $84.6 million for year-to-date through November 2022, representing growth in the range of approximately 54% to 65%. |
| • | Total product net sales for November 2023 were in the range of $4.0 million to $4.6 million with year-to-date total product net sales through November 2023 in the range of $41.0 million to $44.0 million, compared to $33.9 million for year-to-date through November 2022, representing growth in the range of approximately 21% to 30%. |
On December 1, 2023, the Company issued a press release that included certain preliminary unaudited financial results for the one month ended November 30, 2023 and year-to-date through November 30, 2023. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 2.02 by reference.
In accordance with General Instructions B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit Number |
Description | |
| 99.1 | Press Release, dated December 1, 2023. | |
| 104 | Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL). | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SCILEX HOLDING COMPANY | ||
| By: | /s/ Jaisim Shah | |
| Name: | Jaisim Shah | |
| Title: | Chief Executive Officer & President | |
Date: December 1, 2023
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