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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Emerging growth company
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 June 30, 2023, quarter ended June 30, 2023, and year-to-date as of June 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 June 30, 2023, quarter ended June 30, 2023, and year-to-date as of June 30, 2023.
The Company estimates that:
| • | ZTlido gross sales for (i) June 2023 were in the range of $13.5 million to $14.5 million, compared to $7.4 million in June 2022, representing growth in the range of 82% to 96%; (ii) the quarter ended June 2023 were in the range of $37.5 million to $39.0 million, compared to $21.0 million for the quarter ended June 2022, representing growth in the range of 79% to 86%; and (iii) year-to-date June 2023 were in the range of $64.2 million to $67.3 million, compared to $39.4 million for year-to-date June 2022, representing growth in the range of 63% to 71%. |
| • | ZTlido net sales for (i) June 2023 were in the range of $4.0 million to $5.1 million, compared to $3.3 million in June 2022, representing growth in the range of 21% to 54%; (ii) the quarter ended June 2023 were in the range of $11.2 million to $13.6 million, compared to $7.9 million for the quarter ended June 2022, representing growth in the range of 42% to 72%; and (iii) year-to-date June 2023 were in the range of $20.5 million to $23.0 million, compared to $14.7 million for year-to-date June 2022, representing growth in the range of 39% to 56%. |
| • | Total product gross sales for (i) June 2023 were in the range of $14.0 million to $15.0 million, compared to $7.4 million in June 2022, representing growth in the range of 89% to 103%; (ii) the quarter ended June 2023 were in the range of $39.0 million to $40.0 million, compared to $21.0 million for the quarter ended June 2022, representing growth in the range of 86% to 90%; and (iii) year-to-date June 2023 were in the range of $65.6 million to $69.0 million, compared to $39.4 million for year-to-date June 2022, representing growth in the range of 66% to 75%. |
| • | Total product net sales for (i) June 2023 were in the range of $4.2 million to $5.2 million, compared to $3.3 million in June 2022, representing growth in the range of 27% to 57%; (ii) the quarter ended June 2023 were in the range of $12.0 million to $14.0 million, compared to $7.9 million for the quarter ended June 2022, representing growth in the range of 52% to 77%; and (iii) year-to-date June 2023 were in the range of $20.8 million to $24.0 million, compared to $14.7 million for year-to-date June 2022, representing growth in the range of 41% to 63%. |
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 |
Description | |
| 104 | Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXRL). | |
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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: July 5, 2023
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