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Stock impact report

SCLX Grows Sales and Improves Finances [Yahoo! Finance]

Scilex Holding Company (SCLX) 
Company Research Source: Yahoo! Finance
Scilex Holding Company (NASDAQ:SCLX) is a revenue-generating company that is focused on addressing one of the biggest issues facing humanity today—that of the overuse of opioids. Scilex is focused on developing non-opioid pain management products that provide the relief patients so desperately need, while avoiding the debilitating addiction that often comes with the use of opioids. Roughly 112,000 Americans died in 2023 from overdoses and there we have no doubt that a good number of those involved opioid use at some point to reduce physical pain of various types. Scilex announced the closing of a financing deal that we believe bolsters the company's financial position and positions SCLX for future growth. Under the deal, Scilex is issuing convertible notes and issuing 7.5 million warrants. As a result, the company is going to net approximately $20.5 million. Management notes that it intends to use these proceeds to satisfy $12.5 million of a note and pay off another revolving credi Show less Read more
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