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Scilex Holding Company is engaged in the acquisition, development, and commercialization of non-opioid products to address acute and chronic pain. The company has a portfolio that includes FDA-approved products and is headquartered in Palo Alto, California. This report is based on a press release statement provided by Scilex Holding Company. InvestingPro subscribers have access to 8 additional key insights about SCLX, including detailed financial health scores and comprehensive valuation metrics. InvestingPro subscribers have access to 8 additional key insights about SCLX, including detailed financial health scores and comprehensive valuation metrics. The retrospective claims data, published by Pain Medicine News in its December edition, compared ZTlido® with the generic 5% lidocaine patch.
The study analyzed patient claims from the Optum database between May 1, 2018, and September 30, 2023, focusing on those diagnosed with neuropathic pain conditions such as postherpetic neuralgia, diabetic peripheral neuropathy, or low back pain. A key finding indicated that 51.9% of patients treated with ZTlido® experienced either a decrease or a halt in opioid use, compared to 45.5% of those using the 5% lidocaine patch.
Furthermore, a larger proportion of the ZTlido® group reported a significant reduction of 20% or more in opioid consumption (21.3% vs. 13.4%; P=0.0008). In contrast, patients using the 5% patch saw a substantial increase in opioid use from baseline (+42.9%; P
Scilex Holding Company is engaged in the acquisition, development, and commercialization of non-opioid products to address acute and chronic pain. The company has a portfolio that includes FDA-approved products and is headquartered in Palo Alto, California. This report is based on a press release statement provided by Scilex Holding Company. InvestingPro subscribers have access to 8 additional key insights about SCLX, including detailed financial health scores and comprehensive valuation metrics.
Scilex Holding Company is engaged in the acquisition, development, and commercialization of non-opioid products to address acute and chronic pain. The company has a portfolio that includes FDA-approved products and is headquartered in Palo Alto, California. This report is based on a press release statement provided by Scilex Holding Company.
In other recent news, Scilex Holding Company has completed a $17 million direct stock and warrant offering, which included over 26 million shares of common stock and warrants. The funds raised are intended for general corporate purposes, including research and development, commercialization, and potential acquisitions or debt repayment. Additionally, Scilex has announced a joint venture with IPMC, named Scilex Bio, to develop and commercialize KDS2010, a new treatment for obesity and neurodegenerative diseases currently in Phase 2 clinical trials.
In the realm of financial restructuring, Scilex has reached agreements leading to the sale of a significant portion of its stock to meet debt obligations. The company has also appointed BPM LLP as its new independent registered public accounting firm, ensuring high standards of financial reporting and compliance. Analysts from H.C. Wainwright maintain a Buy rating on Scilex, indicating a positive outlook for the company.
These recent developments underscore Scilex's ongoing efforts to manage its financial health and operational performance.
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