Scilex Holding Releases Preliminary Financial Results for July 2024
Scilex Holding Company, based in Palo Alto, California, has announced its preliminary unaudited financial results for July 2024. The company reports significant growth in the sales of ZTlido®, a non-opioid pain management product designed to treat both acute and chronic pain. The preliminary net sales for ZTlido® in July 2024 were estimated to be between $4.0 million and $5.0 million, a notable increase from the $2.7 million recorded in the same month last year. This represents a growth of approximately 48% to 85%.
In addition to ZTlido®, Scilex's total product net sales for July 2024 are projected to range between $4.3 million and $5.3 million, compared to $2.8 million for the same period in 2023. This indicates a growth range of approximately 54% to 89%. These preliminary figures have been prepared internally by Scilex and have not yet been audited or reviewed by independent auditors, meaning the actual results could differ significantly from these estimates.
Scilex Holding Company focuses on developing and commercializing non-opioid therapies for the treatment of acute and chronic pain, targeting high unmet needs and large market opportunities. The company’s flagship product, ZTlido®, is a prescription lidocaine topical system approved by the U.S. Food and Drug Administration (FDA) for the relief of neuropathic pain associated with postherpetic neuralgia, a complication of shingles.
Apart from ZTlido®, Scilex's commercial portfolio includes ELYXYB®, the only FDA-approved ready-to-use oral solution for the acute treatment of migraines in adults, and Gloperba®, a liquid form of colchicine for preventing gout flares in adults.
Scilex is also developing three promising product candidates:
1. SP-102 (SEMDEXATM): A viscous gel formulation of dexamethasone sodium phosphate for epidural injections to treat lumbosacral radicular pain or sciatica. This product has completed a Phase 3 study and was granted Fast Track status by the FDA in 2017.
2. SP-103: A next-generation, triple-strength formulation of ZTlido® designed to treat chronic neck pain. It has recently completed a Phase 2 trial for low back pain and received Fast Track status from the FDA in this indication.
3. SP-104: A low-dose, delayed-release naltrexone hydrochloride capsule being developed for fibromyalgia treatment. Phase 1 trials for SP-104 were completed in the second quarter of 2022.
Scilex's continued focus on innovative non-opioid pain management solutions positions it as a prominent player in the market. The company's commitment to improving patient outcomes through advanced pain therapies highlights its potential for further growth and development. Its preliminary financial results for July 2024 underscore the increasing market acceptance and demand for its products.
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