What about the Scilex bonus shares?
SRNEQ loses control of SCLEX, the BOD is cleansed, Dr. Ji is tossed as COB.
Drug: SP-102 is currently considered worthless but NDA will be applied for, most likely rejected, NEW Corporate will re-evaluate the possibility/probability of success and cost after conference with FDA/NIH contacts and may put a STOP-LOSS on further investment, put it on the shelf, toss it in the can or sell it off if possible - depending on the conditions set in the merger of Semnur Pharmaceuticals, Inc. .
Fold existing products into a different company public or private and use the tax loss.
Scilex will fade away as the name has no value.
So where does that leave Sorrento and the investors (gamblers) after the dust settles. Fair question would be do the SILEX shares get clawed back? Will SRNEQ survive, Korea or China get acceptance of PS-L1 and SRNE gets a little cash with breathing room and then what is the result of Mpro in China (results in 3rd Q 2023...hey, that's now). Not much left in the "possible bowl" after that within less than 3 years.
Why are we here, well Covid, unwise government excesses in spending, a devastated marketplace ripe for short sellers, unwise government excesses in spending and mainly a BOD/CEO with a narcissistic self-assured hubris that was more focused on a $300 Billion company while shot gunning trials than making a profit for its investors and most importantly surviving long enough to do that.
