In a report released today, Mayank Mamtani from B.Riley Financial reiterated a Buy rating on Scilex Holding Company (SCLX – Research Report), with a price target of $4.00.
Mayank Mamtani’s Buy rating for Scilex Holding Company (SCLX) is based on several key factors. Firstly, he highlights the company’s operational execution in terms of addressing key issues affecting its pain portfolio and balance sheet. He notes the return of growth in net revenues for ZTlido, a product of Scilex, in the fourth quarter. This growth is attributed to the easing of gross-to-net price pressure and re-acceleration of unit volume growth, following a relaunch strategy focused on the gabapentin combination.
Furthermore, Mamtani points out the positive progress in Scilex’s pipeline, including the positive FDA type C meeting for SP-102, which de-risks the NDA filing for a sciatica indication. He also highlights the promising results from a Phase II trial for SP-103, another of Scilex’s products, in treating moderate-to-severe acute lower back pain. Additionally, Mamtani identifies the successful launch of Elyxyb for acute migraines and the anticipated launch of Gloperba for gout pain in 2024 as further positive indicators. Finally, he underscores Scilex’s efforts in removing balance sheet overhangs, such as the anticipated sale of recently purchased Scilex shares from Sorrento, and expedited repayment of Oramed’s senior secured promissory note.
According to TipRanks, Mamtani is an analyst with an average return of -24.5% and a 22.36% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Denali Therapeutics, CymaBay Therapeutics, and Novavax.
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Scilex Holding Company (SCLX) Company Description:
Vickers Vantage Corp I is a blank check company.
Read More on SCLX:
- Scilex announces market research results on unmet needs treating acute migraine
- Scilex Holding Company Announces Market Research Results with Neurologists, Headache Specialists, and Primary Care Physicians Demonstrating Potential High Unmet Needs In Treating Acute Migraine Targeted By ELYXYB® with Potential Advantages Compared to Calcitonin Gene-Related Peptide (CGRP) Products and Triptan Therapy
- Scilex announces production increase , availability of ELYXYB
- Scilex Holding Company Announces Production Increase, Product Availability, and The Brand Marketed and Distributed Under Scilex Pharmaceuticals, Inc. for ELYXYB®
- Scilex Holding Company Announces Issuance of a Second New Patent in the U.S. for Its Lead Commercial Product ZTlido® (lidocaine topical system) for a Method of Relieving Pain Through the Application of a Non-Aqueous Lidocaine-Containing Patch
