Scilex Holding Company Faces Nasdaq Compliance Challenge
Scilex Holding Company Faces Nasdaq Compliance Challenge
Scilex Holding Company (NASDAQ: SCLX), known for its innovative approach to non-opioid pain management, recently encountered a compliance issue with the Nasdaq Stock Market. The company received a notice indicating it was not meeting ongoing listing requirements due to a missed filing. This notice comes as Scilex continues its mission to provide effective pain management solutions for those suffering from chronic and acute pain.
Details of the Nasdaq Notice
The notice from Nasdaq's Listing Qualifications Department warned Scilex that it failed to timely file its Quarterly Report on Form 10-Q for the period ending September 30. This delay has raised concerns regarding the company’s adherence to the Nasdaq Listing Rule 5250(c)(1).
According to the established rules, Scilex has 60 calendar days to develop and submit a plan that aims to bring the company back into compliance. If successful, Nasdaq could allow an extension of up to 180 days to rectify the situation.
Plans for Compliance
Scilex is keen to address this compliance issue promptly. The company has plans in motion to file the overdue Q3 Form 10-Q as swiftly as possible to align with Nasdaq requirements. Should they be unable to file by the set deadline, the company will prepare a comprehensive plan outlining the necessary steps to ensure compliance with the Nasdaq rules.
About Scilex's Product Offerings
Scilex is focused on developing and commercializing various non-opioid products designed for pain management. Its portfolio includes ZTlido®, an FDA-approved topical product for neuropathic pain, ELYXYB®, an oral solution for migraine treatment, and Gloperba®, aimed at gout prevention.
The company also has promising candidates in the pipeline, such as SP-102, which is a corticosteroid formulation for sciatica, and SP-103, a more potent version of ZTlido for acute pain. With these advancements, Scilex is shifting towards meeting substantial market needs in the pain management sector.
Company Overview and Commitment
Scilex Holding Company operates from Palo Alto, California, concentrating on creating alternatives to opioids. Their commitment extends beyond just product offerings; they aspire to improve patient outcomes significantly. By targeting conditions with high unmet needs, Scilex positions itself as a leader in non-opioid therapy.
Contact Information
For further inquiries or information regarding Scilex's developments, the company can be contacted directly. Investors and media can reach Scilex holding company via the following:
Scilex Holding Company
960 San Antonio Road
Palo Alto, CA 94303
Office: (650) 516-4310
Email: info@scilexholding.com
Frequently Asked Questions
What is the compliance issue Scilex Holding Company is facing?
Scilex received a notice from Nasdaq due to a failure to file its Quarterly Report on time, presenting a potential compliance challenge.
What steps is Scilex taking to resolve this issue?
The company is working to file the overdue report as soon as possible and develop a compliance plan should they miss the deadline.
What products does Scilex Holding Company offer?
Scilex offers several pain management products, including ZTlido®, ELYXYB®, and Gloperba®, alongside various clinical candidates in development.
Where is Scilex Holding Company headquartered?
Scilex is headquartered in Palo Alto, California, where it focuses on innovative non-opioid therapies.
How can I contact Scilex for more information?
Interested parties can reach out to Scilex through their office number or email, both provided in their contact information.
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