Mohamad Faizal Bin Ramli
- Shares of Scilex Holding Company (NASDAQ:SCLX) added ~9% in the premarket on Wednesday after the pain therapy developer announced plans to spin off or seek a public listing of its wholly owned subsidiary, Scilex Pharmaceuticals, in the U.S. or overseas.
- Scilex (NASDAQ:SCLX) said that its board of directors has greenlighted the plans as part of a broader move to maximize the value of Scilex Pharmaceuticals, whose portfolio includes three FDA-approved nonopioid pain products and a next-gen pain candidate called SP-103.
- The Palo Alto, California-based company added that the potential value of Scilex Pharma could exceed that of its parent, and a spinoff or public listing would help unlock their actual values.
- A potential strategic transaction and/or a dividend of Scilex Pharma common stock to shareholders of Scilex (SCLX) are also on the cards.
