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5 stories mentioning SCLXUpdated 26d ago

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Wire

Scilex Approves Dividend of Semnur Shares to Stockholders

Scilex Holding (SCLX) said Friday its board approved a dividend of Semnur Pharmaceuticals' common stock held by the company to its stockholders and certain eligible equity holders.The record date for the dividend is June 1, and the board will set the payment date within 60 days of that date.Holders as of the record date will receive one Semnur common share for each Scilex common share held, or for each share issuable upon exercise or conversion of eligible securities.Scilex said it holds 186 million Semnur shares and plans to distribute about 10.7 million under the approved ratio.The board may change the record date or revoke the dividend before payment if solvency or surplus conditions change, the company said.Scilex's Semnur stake dates back to a 2019 corporate transaction.Price: $6.07, Change: $+0.15, Percent Change: +2.45%

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Wire

Wellgistics Health, Datavault AI Agree to Form DelivMeds AI

Wellgistics Health (WGRX) and Datavault AI (DVLT) said Wednesday they have entered a binding term sheet to form DelivMeds AI (MEDS), a healthcare platform combining blockchain-enabled pharmacy infrastructure, AI-driven logistics and biometric verification.The transaction includes an expanded license for Datavault AI's PharmacyChain platform, the acquisition of QOLPOM intellectual property from EOS Technology and Scilex (SCLX), and the acquisition of a controlling stake in Tollo Health, according to the companies.The companies said the transactions forming DelivMeds carry an expected combined asset value of about $4 billion.DelivMeds AI will connect to Wellgistics' network of more than 6,500 pharmacies and over 200 manufacturers through the expanded PharmacyChain license, the companies said.The QOLPOM acquisition adds biometric verification technology and medical drone delivery capabilities, while the Tollo Health transaction adds telemedicine, AI-enabled mental health coaching and a portfolio of medical foods and dietary supplements.Financial terms were not disclosed.Shares of Wellgistics Health were down more than 30% in Wednesday trading, while Datavault was 0.5% higher.Price: $0.16, Change: $-0.01, Percent Change: -7.74%

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Sectors

Sector Update: Health Care Stocks Higher Late Afternoon

Health care stocks edged higher late Tuesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each increasing about 0.4%.The iShares Biotechnology ETF (IBB) was up 0.1%.In corporate news, Edgewise Therapeutics (EWTX) shares jumped 22% after Wedbush lifted the company's price target to $46 from $32, while keeping its outperform rating.Pfizer's (PFE) Q1 results surpassed analyst estimates as robust demand across its key brands offset weakening sales of its COVID-19 products. Its shares rose 0.9%.Merck (MRK) shares added 0.6%. The company said Tuesday it has completed the acquisition of Terns Pharmaceuticals after a cash tender offer at $53 per share.Scilex (SCLX) shares were down 3% after it said Tuesday its subsidiary ACEA Therapeutics agreed to transfer 100% of the equity interests of ACEA Pharma to Phoenix Asia (PHOE) in a $1 billion all-stock deal.

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Wire

Scilex Unit to Transfer ACEA Pharma to Phoenix Asia in $1 Billion All-Stock Deal

Scilex (SCLX) said Tuesday its subsidiary ACEA Therapeutics agreed to transfer 100% of the equity interests of ACEA Pharma to Phoenix Asia (PHOE) in a $1 billion all-stock transaction.Under the agreement, ACEA Therapeutics will receive 100 million newly issued Phoenix shares priced at $10 each in exchange for ACEA Pharma.Upon closing, Phoenix will be renamed ACEA Pharma, with its common stock expected to be listed on Nasdaq. ACEA Therapeutics is expected to retain about 82% ownership of the combined company.The transaction is expected to close by Q2.Shares of Scilex (SCLX) were down nearly 5%, while Phoenix Asia shares were up 23% in Tuesday afternoon trading.Price: $10.64, Change: $-0.52, Percent Change: -4.62%

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Wire

Datavault AI Signs Binding Term Sheet for $120 Million Cash Contribution From Scilex

Datavault AI (DVLT) said Monday it has signed a binding term sheet for a cash contribution and revenue participation agreement with Scilex (SCLX).Under the term sheet, Scilex will make an upfront cash contribution of $120 million to Datavault AI, according to a statement.In return, Datavault AI will pay 30% of all gross revenues exclusively from its quantum-ready edge network up to $250 million. The company will then pay 15% of the network revenues until $1.2 billion is reached, and 5% from that point moving forward, the statement said.The cash contribution will be used to finance the deployment of the network, Datavault AI said.The two companies have agreed to negotiate in good faith and aim to enter into a definitive agreement reflecting the terms of the term sheet, while the Scilex transaction is targeted to close in multiple tranches, with the final tranche before the end of 2026, the statement said.The initial deployment of the network, which will use Available Infrastructure's fleet of data centers, is expected in Q2, Datavault AI said.Price: $0.74, Change: $+0.01, Percent Change: +0.79%

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