SMNR
Semnur Pharmaceuticals, Inc.9.00
+0.00+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
2.07BP/E (TTM)
-Basic EPS (TTM)
-0.67Dividend Yield
0%Recent Filings
10-K
FY2025 results
Semnur Pharmaceuticals posted FY2025 results reflecting its clinical-stage status post-September 2025 business combination with Denali Capital, marked by no revenue as SP-102 advances in Phase 3. The company initiated the pivotal CLEAR-2 trial in September 2025 targeting ~700 sciatica patients, building on prior CLEAR-1 success published in PAIN Journal. Q4 saw securities shift to OTCQB trading after Nasdaq suspension. No financial metrics disclosed in the 10-K. SP-102 eyes 2027 completion and 2028 launch if approved. Cash on hand funds operations. Delisting curtails liquidity.
8-K
Securities description updated
Semnur Pharmaceuticals updated its securities description via 8-K on December 3, 2025, reflecting Certificate of Incorporation and Bylaws amendments since December 31, 2024. The new Exhibit 4.1 supersedes prior SEC filings for incorporation by reference. Trading shifted from Nasdaq suspension in April 2025 to OTCQB under SMNR and SMNRW symbols.
10-Q
Q3 FY2025 results
Semnur Pharmaceuticals closed its reverse recap with Denali on September 22, 2025, converting $54.2M related-party debt to 5.4M Series A preferred shares (with $10 liquidation preference) and 0.5M common shares. Q3 operating loss exploded to $152.6M from $1.3M y/y, driven by $140M stock-based comp to consultants and $9.9M expensed deferred offering costs; R&D rose to $1.1M from $0.2M y/y on manufacturing. Cash dwindles to $85K with $4.5M short-term promissory notes and $5.3M related-party loan; dependent on Scilex support and pending $120M Bitcoin PIPE. EPS checks at $(0.76) on 202M shares. Single program SP-102 faces FDA-mandated confirmatory Phase 3 trial.
8-K
Semnur completes SPAC merger
Semnur Pharmaceuticals closed its business combination with Denali Capital Acquisition Corp on September 22, 2025, via domestication to Delaware and merger, with shares now trading OTC as SMNR/SMNRW. Scilex Holding retains 87.5% ownership of 230M shares outstanding; SPAC underwriters and sponsor received promissory notes totaling $4.5M payable monthly from October 2025, accelerating on financings. Signed $100M Bitcoin-for-shares SPA with Biconomy at $16/share.
8-K
Merger with Semnur approved
Denali Capital Acquisition Corp. shareholders overwhelmingly approved the merger with Semnur Pharmaceuticals on September 3, 2025, alongside domestication from the Cayman Islands to Delaware and adoption of Semnur's name and governance structure. All proposals passed with near-unanimous support from 94% quorum turnout. The deal paves the way for Semnur's public debut. Post-merger board features biotech experts.
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