Scilex Holding Co

Scilex Holding Co. engages in the acquisition, development, and commercialization of non-opioid pain management products for the treatment of acute and chronic pain. Its products include ZTlido, a prescription lidocaine topical product approved by the FDA for the relief of neuropathic pain associated with PHN, which is a form of post-shingles nerve pain, and e GLOPERBA oral solutions, an FDA-approved prophylactic treatment for painful gout flares in adults. The company was founded on February 21, 2020 and is headquartered in Palo Alto, CA.

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While Scilex is not a debtor in Sorrento Therapuetics' bankruptcy proceedings, it is affected by them. Scilex plans to sell $300 million of stock.

Why Shares of Scilex Slumped This Week

PALO ALTO, Calif., April 28, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (OTC: SRNEQ), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that Henry Ji, Ph.D., Executive Chairman of Scilex, and Jaisim Shah, Chief Executive Officer and President of Scilex will participate in the H.C. Wainwright BioConnect Investor Conference at Nasdaq:

Scilex Holding Company to Participate in the H.C. Wainwright BioConnect Investor Conference at Nasdaq on May 2, 2023

PALO ALTO, Calif., April 25, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”) announced that its majority stockholder, Sorrento Therapeutics, Inc. (OTC: SRNEQ, “Sorrento”) has issued a notice that Sorrento's bankruptcy court has extended the expiration of the restrictions on transfer on the shares of common stock of Scilex that were distributed by Sorrento to its stockholders as a dividend on January 19, 2023 (the “Distributed Stock”).

Scilex Holding Company Announces that its Majority Stockholder, Sorrento Therapeutics, Inc., has Issued a Notice that Sorrento's Bankruptcy Court has Extended the Lockup Period on Shares of Scilex Stock Distributed by Sorrento to its Stockholders as a Div

PALO ALTO, Calif. and ABU DHABI, United Arab Emirates, April 17, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (OTC: SRNEQ), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced a master distributor agreement with AD Ports Logistics (ADPL), a subsidiary of the Logistics Cluster, AD Ports Group, a leading global facilitator of trade, logistics and industry based in Abu Dhabi (ADX: ADPORTS). The master distributor agreement covers the distribution of ZTlido® in the United Arab Emirates, Qatar, Bahrain, Kuwait, Oman, and Egypt.

Scilex Holding Company Enters into Master Distributor Agreement with CH Trading Group LLC and AD Ports Group for the Distribution of ZTlido® in the Middle East and North Africa Region

PALO ALTO, Calif., April 14, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a subsidiary of Sorrento Therapeutics, Inc. (OTC Market: SRNEQ) (“Sorrento”), announced today that the Company's 2023 Annual Meeting of Stockholders (the “Annual Meeting”) that was scheduled to be held at 9:00 a.m. (Pacific Time) on Monday, April 17, 2023, has been postponed to Thursday, May 4, 2023 at 9:00 a.m. (Pacific Time).

Scilex Holding Company Announces Final Postponement of Annual Meeting of Stockholders

Scilex (NASDAQ: SCLX ) stock is plunging 15% after the company delayed its 2023 annual meeting from today until April 17. Scilex, which specializes in developing non-opioid pain treatments, indicated that it wants to give representatives of its shareholders more time to comply with a court order.

Scilex (SCLX) Stock Fans, Mark Your Calendars for April 17

PALO ALTO, Calif., April 05, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a subsidiary of Sorrento Therapeutics, Inc. (OTC Market: SRNEQ) (“Sorrento”), announced today that the Company's 2023 Annual Meeting of Stockholders (the “Annual Meeting”) that was scheduled to be held at 9:00 a.m. (Pacific Time) on Thursday, April 6, 2023, has been postponed to April 17, 2023 at 9:00 a.m. (Pacific Time). Scilex is postponing the Annual Meeting due to the previously announced substantial underreporting of more than 44 million shares of its common stock by brokers, banks and other nominees (collectively, “brokerage firms”) to Broadridge Financial Solutions, Inc., an independent third party that collects and tabulates stockholder votes for the upcoming Annual Meeting, and in response to multiple brokerage firms requesting more time to complete the reporting per court order described below.

Scilex Holding Company Announces Postponement of Annual Meeting of Stockholders

Sorrento Therapeutics Inc

SAN DIEGO , April 4, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, today announced that the U.S. Bankruptcy Court for the Southern District of Texas entered an order requiring the top 25 brokers, dealers, banks, and other nominees that act as agents for Sorrento shareholders (the "Brokerages") to provide Sorrento with information related to the common stock of Scilex Holding Company (NASDAQ: SCLX, "Scilex"), in connection with Sorrento's chapter 11 case that was filed on February 13, 2023.  As previously disclosed, on December 30, 2022, Sorrento announced a dividend to its shareholders of 76 million shares of common stock of Scilex, a substantial amount of which was distributed to the Brokerages, who hold the distributed shares in custody as agents for Sorrento shareholders.

Sorrento Therapeutics, Inc.'s Bankruptcy Court Requires Brokerages to Provide Information Related to Scilex Common Stock

PALO ALTO, Calif., March 27, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a subsidiary of Sorrento Therapeutics, Inc. (OTC Market: SRNEQ) (“Sorrento”), announced today that there are more than 44 million shares of its common stock that have not yet been reported by brokers, banks and other nominees (collectively, “brokerage firms”) to Broadridge Financial Solutions, Inc. (“Broadridge”), an independent third party that collects and tabulates stockholder votes for the upcoming annual meeting of Scilex's stockholders, to be held on April 6, 2023 (the “Annual Meeting”). On March 9, 2023, Broadridge distributed the proxy materials for the Annual Meeting (the “Proxy Materials”) to all Scilex stockholders of record as of March 6, 2023, the record date for the Annual Meeting.

Scilex Holding Company Reports Substantial Underreporting of More Than 44 Million Shares of its Common Stock by Brokerage Firms for the Upcoming Annual Meeting of Stockholders Scheduled for April 6, 2023 and Issues a Supplement to its Previously Issued “F

PALO ALTO, Calif., March 21, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (OTC: SRNEQ), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced that it has entered into a securities purchase agreement with YA II PN, Ltd., a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP (”Yorkville”), for the issuance and sale of unsecured convertible debentures in the principal amount of up to $25 million.

Scilex Holding Company Announces Financing of up to $25 Million to Enhance Commercialization of Three FDA Approved Non-Opioid Pain Management Products

PALO ALTO, Calif., March 08, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (OTC: SRNEQ), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced territory distribution agreement for ZTlido ® in the Middle East and North Africa with $105 million minimum purchase commitment over 5 years. CH Trading Group will serve as exclusive territories distributor and will provide open access across the Middle East and North Africa markets and the broader Islamic world. Scilex has the opportunity to expand across other products in their non-opioid pain management portfolio.

Scilex Holding Company and CH Trading Group Announce Territory Distribution Agreement to Expand Commercialization of ZTlido® for the Middle East and North Africa (MENA) With $105 Million Minimum Multi-Year Purchase Commitment

PALO ALTO, Calif., Feb. 27, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (OTC: SRNEQ), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced the commercial launch of ELYXYBTM (celecoxib oral solution) in the U.S. Starting today, ELYXYBTM is available in pharmacies to customers and supplied through their normal wholesaler and distributor channels. ELYXYBTM was approved by the U.S. Food and Drug Administration (FDA) on May 6, 2020, for the treatment of acute migraine with or without aura in adults.

Scilex Holding Company announces the commercial launch of ELYXYBTM (celecoxib oral solution) in the U.S., strengthening its leadership position in non-opioid pain management

Shares of Scilex could trade higher due to hedging pressure from large Sorrento short positions. Scilex's equity offering facilities, mean that the price could fall precipitously at any time via company dilution.

A SPAC, Spinoff, And Short Squeeze Walk Into A Bar

Improved revenue estimates and buyout rumors have been driving the stock higher.

Why Shares of Scilex Soared This Week

News for Scilex Holding Co Stock (SCLX)