Scilex Announces Voluntary $13.2M Early Payment On Oramed Note, Full Retirement Set For March 2025

Author: Benzinga Newsdesk | December 16, 2024 09:09am

Scilex Holding Company (NASDAQ:SCLX, "Scilex" or the "Company"))), an innovative revenue-generating company focused on acquiring, developing and commercializing the treatments for obesity, neurodegenerative, cardiometabolic disease (following formation of its proposed joint venture with IPMC Company), and non-opioid pain management products for acute and chronic pain, today announced that it has voluntarily made an early installment payment in the aggregate amount of $13.2 million under its senior secured promissory note (the "Oramed Note") issued to Oramed Pharmaceuticals Inc. (NASDAQ:ORMP, "Oramed"))) in September 2023. Subsequent to this early installment payment, the remaining principal balance under the Oramed Note will be payable in one final payment on March 21, 2025, and the Oramed Note will be retired in its entirety.

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