Scilex Holding (SCLX) 10-Q 13 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 09, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Securities Act File Number	001-39852
Entity Central Index Key	0001820190
Entity Tax Identification Number	92-1062542
Entity Registrant Name	Scilex Holding Company
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	960 San Antonio Road
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94303
City Area Code	650
Local Phone Number	516-4310
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	SCLX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		181,189,935

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,818	$ 3,921
Accounts receivable, net	29,716	34,597
Inventory	3,486	4,214
Prepaid expenses and other	2,725	4,049
Total current assets:	37,745	46,781
Property and equipment, net	718	722
Operating lease right-of-use asset	2,763	2,943
Intangibles, net	35,458	36,485
Goodwill	13,481	13,481
Other long term assets	1,075	897
Total assets	91,240	101,309
Current liabilities:
Accounts payable	42,219	40,954
Accrued payroll	3,727	2,681
Accrued rebates and fees	104,088	89,658
Accrued expenses	8,564	7,408
Current portion of deferred consideration	480	491
Debt, current	92,923	108,429
Current portion of operating lease liabilities	731	759
Total current liabilities:	252,732	250,380
Long-term portion of deferred consideration	2,780	2,895
Debt, net of issuance costs	16,323	17,038
Derivative liabilities	6,941	1,518
Operating lease liabilities	2,068	2,237
Other long-term liabilities	182	179
Total liabilities	281,026	274,247
Commitments and contingencies (See Note 11)
Stockholders' deficit:
Preferred stock, $0.0001 par value, 45,000,000 shares authorized; 29,057,097 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	0	0
Common stock, $0.0001 par value, 740,000,000 shares authorized; 166,189,835 shares issued and 106,121,250 shares outstanding as of March 31, 2024; 160,084,250 shares issued and 100,015,665 shares outstanding as of December 31, 2023	17	16
Additional paid-in capital	415,341	407,813
Accumulated deficit	(514,622)	(490,245)
Treasury stock, at cost; 60,068,585 shares as of each of March 31, 2024 and December 31, 2023	(90,522)	(90,522)
Total stockholders' deficit	(189,786)	(172,938)
Total liabilities and stockholders' deficit	$ 91,240	$ 101,309

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	45,000,000	45,000,000
Preferred stock, shares issued	29,057,097	29,057,097
Preferred stock, shares outstanding	29,057,097	29,057,097
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	740,000,000	740,000,000
Common stock, shares issued	166,189,835	160,084,250
Common stock, shares outstanding	106,121,250	100,015,665
Treasury stock share	60,068,585	60,068,585

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net revenue	$ 10,884	$ 10,582
Operating costs and expenses:
Cost of revenue	3,840	3,591
Research and development	3,108	2,736
Selling, general and administrative	29,278	28,701
Intangible amortization	1,027	1,027
Legal settlements	(6,891)	0
Total operating costs and expenses	30,362	36,055
Loss from operations	(19,478)	(25,473)
Other (income) expense:
Loss on derivative liability	457	5,253
Change in fair value of debt and liability instruments	3,905	0
Interest expense, net	531	(1)
Loss on foreign currency exchange	6	20
Total other expense	4,899	5,272
Loss before income taxes	(24,377)	(30,745)
Income tax expense	0	8
Net loss	$ (24,377)	$ (30,753)
Earnings Per Share [Abstract]
Loss per share - basic	$ (0.24)	$ (0.22)
Loss per share - diluted	$ (0.24)	$ (0.22)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted average number of shares during the period-basic	102,407	141,660
Weighted average number of shares during the period -diluted	102,407	141,660

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity / (Deficit) - USD ($) $ in Thousands	Total	Preferred Stock Member	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
Balance at Dec. 31, 2022	$ 36,239	$ 3	$ 14	$ 412,136	$ (375,914)	$ 0
Balance (in shares) at Dec. 31, 2022		29,057,000	141,349,000			0
Shares issued under Standby Equity Purchase Agreements	1,869			1,869
Shares issued under Standby Equity Purchase Agreements (in shares)			462,000
Retainer shares issued	1		$ 1
Retainer shares issued (in shares)			4,000,000
Stock-based compensation	3,720			3,720
Net income (loss)	(30,753)				(30,753)
Balance at Mar. 31, 2023	11,076	$ 3	$ 15	417,725	(406,667)	$ 0
Balance (in shares) at Mar. 31, 2023		29,057,000	145,811,000			0
Balance at Dec. 31, 2023	(172,938)		$ 16	407,813	(490,245)	$ (90,522)
Balance (in shares) at Dec. 31, 2023		29,057,000	160,084,000			60,069,000
Shares issued under Standby Equity Purchase Agreements and under ATM Sales Agreement, Share			189,000
Shares issued under Bought Deal Offering			5,882,000
Shares issued under Bought Deal Offering	3,769		$ 1	3,768	0
Shares issued under Standby Equity Purchase Agreements and under ATM Sales Agreement, Value	156			156
Stock options exercised	$ 46			46
Stock options exercised (in shares)	34		35,000
Stock-based compensation	$ 3,558			3,558
Net income (loss)	(24,377)				(24,377)
Balance at Mar. 31, 2024	$ (189,786)		$ 17	$ 415,341	$ (514,622)	$ (90,522)
Balance (in shares) at Mar. 31, 2024		29,057,000	166,190,000			60,069,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Net loss for basic and diluted loss per share available to common stockholders	$ (24,377)	$ (30,753)
Adjustments to reconcile net loss to net cash proceeds from (used for) operating activities:
Depreciation and amortization	1,031	1,037
Amortization of debt issuance costs and debt discount	31	0
Non-cash operating lease cost	180	144
Stock-based compensation	3,558	3,720
Loss on derivative liability	457	5,253
Allocated expenses for warrant issuance cost	1,375	0
Change in fair value of debt and liability instruments	3,905	0
Other	26	0
Changes in operating assets and liabilities:
Accounts receivables, net	4,881	1,992
Inventory	726	(897)
Prepaid expenses and other	(39)	294
Other long-term assets	(30)	997
Accounts payable	1,265	2,001
Accrued Payroll	1,046	359
Accrued expenses	1,120	3,543
Accrued rebates and fees	14,430	4,736
Other liabilities	(197)	(175)
Other long-term liabilities	3	5
Net cash proceeds from (used for) operating activities	9,391	(7,744)
Investing activities
Acquisition consideration paid in cash for Romeg intangible asset acquisition	(150)	0
Net cash used for investing activities	(150)	0
Financing activities
Proceeds from issuance of shares under Standby Equity Purchase Agreements and ATM Sales Agreement	156	1,663
Proceeds from issuance of Convertible Debentures	0	9,600
Proceeds from issuance of Revolving Facility	32,567	0
Repayment of Revolving Facility	(33,313)	0
Repayment of Oramed Note	(15,000)	0
Transaction costs paid related to the Business Combination	0	(634)
Repayment of Convertible Debentures	(4,375)	0
Proceeds from issuance of shares under Bought Deal Offering	10,000
Payments of Bought Deal Offering issuance costs	(1,277)	0
Proceeds from stock options exercised	46	0
Net cash (used for) proceeds from financing activities	(11,196)	10,629
Net change in cash, cash equivalents and restricted cash	(1,955)	2,885
Cash and cash equivalents at beginning of period	4,729	2,184
Cash and cash equivalents at end of period	2,774	5,069
Supplemental disclosure of non-cash financing activity
Issuance of shares to B.Riley pursuant to B. Riley Purchase Agreement	0	1,869
Issuance costs related to Bought Deal Offering included in accrued expenses	$ 1,501	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (24,377)	$ (30,753)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	1. Nature of Operations and Basis of Presentation Organization and Principal Activities Scilex Holding Company (“Scilex” and together with its wholly owned subsidiaries, the “Company”) is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. The Company was originally formed in 2019 and currently has five wholly owned subsidiaries, Scilex Inc. (“Legacy Scilex”), Scilex Pharmaceuticals Inc. (“Scilex Pharma”), Semnur Pharmaceuticals, Inc. (“Semnur”), SCLX DRE Holdings LLC and SCLX Stock Acquisition JV LLC. The business combination with Vickers (the “Business Combination”) was closed in November 2022. The Company launched its first commercial product in October 2018, ZTlido (lidocaine topical system) 1.8% (“ZTlido”), a prescription lidocaine topical system that is designed with novel technology to address the limitations of current prescription lidocaine therapies by providing significantly improved adhesion and continuous pain relief throughout the 12-hour administration period. The Company in-licensed the exclusive right to commercialize GLOPERBA (colchicine USP) oral solution (“GLOPERBA”), a U.S. Food and Drug Administration (“FDA”)-approved prophylactic treatment for painful gout flares in adults, in the United States of America (“U.S.” or the “United States”). In February 2023, the Company acquired the rights related to ELYXYB (celecoxib oral solution) (“ELYXYB”) and the commercialization thereof in the U.S. and Canada. ELYXYB is a first-line treatment and the only FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults. In April 2023, the Company launched ELYXYB in the U.S. The Company expects to commercialize GLOPERBA in the U.S. in the first half of 2024. The Company is currently developing three product candidates, SP-102 (10 mg, dexamethasone sodium phosphate viscous gel), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica for which the Company has completed a Phase 3 study (“SP-102” or “SEMDEXA”), SP-103 (lidocaine topical system) 5.4% (“SP-103”), a next-generation, triple-strength formulation of ZTlido, for the treatment of chronic neck pain and for which the Company completed a Phase 2 trial in low back pain (“LBP”) in the third quarter of 2023, and SP-104 (4.5 mg, low-dose naltrexone hydrochloride delayed-burst release low dose naltrexone hydrochloride capsules) (“SP-104”), a novel low-dose delayed-release naltrexone hydrochloride being developed for the treatment of fibromyalgia, for which Phase 1 trials were completed in the second quarter of 2022. Since inception, the Company has devoted substantially all of its efforts to the development of SP-102, SP-103 and SP-104, and the commercialization of ZTlido. In 2024, the Company will also devote efforts on the commercialization of GLOPERBA and ELYXYB. Sorrento Chapter 11 Filing On February 13, 2023, Sorrento Therapeutics, Inc. (“Sorrento”), the Company’s then-controlling stockholder, and Sorrento’s wholly-owned direct subsidiary, Scintilla Pharmaceuticals, Inc. (“Scintilla” and together with Sorrento, the “Debtors”), commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). The Debtors’ Chapter 11 proceedings are jointly administered under the caption In re Sorrento Therapeutics, Inc., et al., Case Number 23-90085 (DRJ) (the “Chapter 11 Cases”). While the Company was majority-owned by Sorrento, the Company was not a debtor in the Chapter 11 Cases. Pursuant to that certain Stock Purchase Agreement that we entered into with Sorrento on September 21, 2023 (the “Sorrento SPA”), we repurchased shares of our Common Stock and Series A Preferred Stock from Sorrento. As a result, Sorrento no longer holds a majority of the voting power of the Company’s outstanding capital stock entitled to vote. As of March 31, 2024, the Company had a $ 3.2 million receivable from Sorrento, which was fully reserved. The Company evaluates the collectability of this receivable on a quarterly basis. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, include all adjustments of a normal recurring nature necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations and cash flows. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as filed with the SEC on March 12, 2024 (the “Annual Report on Form 10-K”). The interim results for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any future periods. Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of these unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Management believes that these estimates are reasonable; however, actual results may differ from these estimates. Customer Concentration Risk The Company had three customers during the three months ended March 31, 2024 , each of which individually generated 10 % or more of the Company’s total revenue. These customers accounted for 85 % of the Company’s revenue for the three months ended March 31, 2024, individually ranging from 24 % to 31 % . As of March 31, 2024, these customers represented 94 % of the Company’s outstanding accounts receivable, individually ranging between 25 % to 36 % . Additionally, during the three months ended March 31, 2024 and 2023, the Company purchased ZTlido inventory from its sole supplier, Itochu Chemical Frontier Corporation (“Itochu”). In November 2023 and February 2024, respectively, the Company started purchasing ELYXYB and GLOPERBA inventories from its sole suppliers, Contract Pharmaceuticals Ltd Canada (CPL) and Ferndale Laboratories, Inc., respectively. This exposes the Company to concentration of customer and supplier risk. The Company monitors the financial condition of its customers, limits its credit exposure by setting credit limits, and has not experienced any credit losses during the three months ended March 31, 2024 and 2023. Significant Accounting Policies There have been no significant changes to the accounting policies during the three months ended March 31, 2024 , as compared to the significant accounting policies described in Note 1 of the Notes to Consolidated Financial Statements in the Company’s audited consolidated financial statements included in the Annual Report on Form 10-K. Fair Value Measurements Financial assets and liabilities are recorded at fair value on a recurring basis in the condensed consolidated balance sheets. The carrying values of Company’s financial assets and liabilities, including cash and cash equivalents, restricted cash, prepaid and other current assets, accounts payable and accrued expenses approximate to their fair value due to the short-term nature of these instruments. The valuation of the derivative warrant liability for Private Warrants, Firm Warrants and Representative Warrants (each as defined below) is outlined in Note 4, utilizing the Black-Scholes option pricing model. The Company has chosen the fair value option for the Convertible Debentures and the Oramed Note (each as defined below), with the valuation methodologies detailed in Note 7. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. Assets and liabilities recorded at fair value are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels are directly related to the amount of subjectivity with the inputs to the valuation of these assets or liabilities as follows: Level 1 - Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 - Inputs (other than quoted prices included in Level 1) that are either directly or indirectly observable inputs for similar assets or liabilities. These include quoted prices for identical or similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments that are readily convertible into cash without penalty and with original maturities of three months or less at the date of purchase to be cash equivalents. The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents are valued at cost, which approximate their fair value. Restricted cash for the periods presented consist of deposits placed in a segregated bank account as required under the terms of the Credit and Security Agreement, dated as of June 27, 2023, between Scilex Pharma and eCapital Healthcare Corp., which is discussed further in Note 7. Restricted cash is recorded as other long-term assets within the Company’s unaudited condensed consolidated balance sheet. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets that together reflect the same amounts shown in the unaudited condensed consolidated statements of cash flows (in thousands): March 31, December 31, Cash and cash equivalents $ 1,818 $ 3,921 Restricted cash 956 808 Total cash, cash equivalents, and restricted cash $ 2,774 $ 4,729 Convertible Debentures and the Oramed Note The Company has elected the fair value option to account for the Convertible Debentures (as defined in Note 2 “ Liquidity and Going Concern ” below) that were issued in March and April 2023, as discussed further in Note 7. The Company has also elected the fair value option to account for the Oramed Note (as defined in Note 4 “ Fair Value Measurements ” below). The Company recorded the Convertible Debentures and the Oramed Note at fair value upon issuance with changes in fair value recorded as change in fair value of debt and liability instruments in the unaudited condensed consolidated statements of operations, with the exception of changes in fair value due to instrument-specific credit risk, if any, which are recorded as a component of other comprehensive income. Interest expense related to these financial instruments is included in the changes in fair value. As a result of applying the fair value option, direct costs and fees related to the Convertible Debentures and the Oramed Note were expensed as incurred. As of March 31, 2024 and December 31, 2023, the weighted-average interest rates for the short-term loans, including the Convertible Debentures and the Oramed Note, were 13.83 % and 13.55 % , respectively. Treasury Stock The Company uses the cost method to account for repurchases of its stock. In the computation of net (loss) income per share, treasury shares are not included as part of the outstanding shares.

Liquidity and Going Concern

Liquidity and Going Concern	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity and Going Concern	2. Liquidity and Going Concern The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Management has assessed the Company’s ability to continue as a going concern for at least one year after the issuance date of the accompanying unaudited condensed consolidated financial statements. On November 17, 2022, the Company entered into a standby equity purchase agreement (the “Original Purchase Agreement”) with YA II PN, Ltd., a Cayman Islands exempt limited partnership (“Yorkville”). On February 8, 2023, the Company entered into an amended and restated standby equity purchase agreement with Yorkville (the “A&R Yorkville Purchase Agreement”), amending, restating and superseding the Original Purchase Agreement. On, and effective as of, March 25, 2024, the Company and Yorkville mutually agreed to terminate the Amended and Restated Standby Equity Purchase Agreement. On January 8, 2023, the Company entered into a standby equity purchase agreement (the “B. Riley Purchase Agreement” and together with A&R Yorkville Purchase Agreement, the “Standby Equity Purchase Agreements”) with B. Riley Principal Capital II, LLC (“B. Riley”). Pursuant to each of the Standby Equity Purchase Agreements, the Company had the right, but not the obligation, to sell to each of Yorkville and B. Riley up to $ 500.0 million of shares of the Company’s common stock, par value $ 0.0001 per share (the “Common Stock”) at its request any time during the 36 months following the date on which the registration statement related to each such purchase agreement was initially declared effective by the SEC, subject to certain conditions, which are discussed further in Note 9. As consideration for Yorkville’s and B. Riley’s respective commitment to purchase shares of Common Stock at the Company’s direction, the Company issued 250,000 commitment shares to each of Yorkville (the “Yorkville Commitment Shares”) and B. Riley (the “B. Riley Commitment Shares”). On, and effective as of, February 16, 2024, the Company and B. Riley mutually agreed to terminate the B. Riley Purchase Agreement. On March 21, 2023, the Company entered into a securities purchase agreement with Yorkville (the “Yorkville SPA”), pursuant to which the Company would issue and sell to Yorkville convertible debentures in an aggregate principal amount of up to $ 25.0 million (the “Convertible Debentures”). Convertible Debentures in the principal amount of $ 25.0 million (for net cash proceeds of $ 24.0 million) were issued and sold pursuant to the Yorkville SPA, which is discussed further in Note 7. The Company fully repaid the Convertible Debentures in March 2024. On June 27, 2023, Scilex Pharma entered into a Credit and Security Agreement (the “eCapital Credit Agreement”) with eCapital Healthcare Corp. (the “Lender”), pursuant to which the Lender shall make available loans (the “Revolving Facility”) in an aggregate principal amount of up to $ 30.0 million (the “Facility Cap”). The proceeds of the Revolving Facility will be used for (i) transaction fees incurred in connection with the eCapital Credit Agreement, (ii) working capital needs of Scilex Pharma and (iii) other uses not prohibited under the eCapital Credit Agreement. As of March 31, 2024, the Company has an outstanding balance of $ 16.3 million under the Revolving Facility. See Note 7 for additional discussion of the terms of the eCapital Credit Agreement. On December 22, 2023, the Company entered into a Sales Agreement (the “ATM Sales Agreement”) with B. Riley Securities, Inc., Cantor Fitzgerald & Co. and H.C. Wainwright & Co., LLC (the “Sales Agents”). Pursuant to the ATM Sales Agreement, the Company may offer and sell (the “Offering”) shares of Common Stock up to $ 170,000,000 (the “ATM Shares”), through or to the Sales Agents as part of the Offering. The Company has no obligation to sell any shares of Common Stock under the ATM Sales Agreement and may suspend offers thereunder at any time. The Offering will terminate upon (i) the election of the Sales Agents upon the occurrence of certain adverse events, (ii) three business days’ advance notice from the Company to the Sales Agents or a Sales Agent to the Company, or (iii) the sale of all $ 170,000,000 of shares of Common Stock thereunder. As of March 31, 2024, the Company sold 92,295 shares of Common Stock pursuant to the ATM Sales Agreement for net proceeds of approximately $ 0.1 million . As of March 31, 2024, the Company’s negative working capital was $ 215.0 million , including cash and cash equivalents of approximately $ 1.8 million . During the three months ended March 31, 2024, the Company had operating losses of $ 19.5 million and cash flows received from operations o f $ 9.4 million . The Company had an accumulated deficit of $ 514.6 million as of March 31, 2024. The Company has plans to obtain additional resources to fund its currently planned operations and expenditures and to service its debt obligations (whether under the Oramed Note or otherwise) for at least twelve months from the issuance of these unaudited condensed consolidated financial statements through a combination of equity offerings, debt financings, collaborations, government contracts or other strategic transactions. The Company’s plans are also dependent upon the success of future sales of ZTlido and ELYXYB, which is still in the early stages of commercialization, and the future commercialization of GLOPERBA. Although the Company believes such plans, if executed, should provide the Company with financing to meet its needs, successful completion of such plans is dependent on factors outside the Company’s control. As a result, management has concluded that the aforementioned conditions, among other things, raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date the unaudited condensed consolidated financial statements are issued.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2024
Disclosure Text Block [Abstract]
Acquisitions	3. Acquisitions SP-104 Acquisition In May 2022, the Company acquired the Delayed Burst Release Low Dose Naltrexone asset and intellectual property rights for the treatment of chronic pain, fibromyalgia and chronic post-COVID syndrome (collectively, the “SP-104 Assets”). Pursuant to the acquisition provisions, the Company is obligated to pay Aardvark Therapeutics, Inc. (“Aardvark”) (i) $ 3.0 million upon initial approval by the FDA of a new drug application for the SP-104 Assets (which amount may be paid in shares of Common Stock or cash, in the Company’s sole discretion) (the “Development Milestone Payment”) and (ii) $ 20.0 million in cash, upon achievement of certain net sales by the Company of a commercial product that uses the SP-104 Assets (the “Sales Milestone Payment”). The Company will also pay Aardvark certain royalties in the single digits based on percentages of annual net sales by the Company of a commercial product that uses the SP-104 Assets. The Sales Milestone Payment and sale volume-based future royalties were determined to meet a scope exception for derivative accounting and will not be recognized until the contingencies are realized. The Development Milestone Payment represents a liability, which will be measured at fair value for each reporting period. As of March 31, 2024 and December 31, 2023, the contingent consideration associated with Development Milestone Payment was $ 0.2 million , recorded in the other long-term liabilities. GLOPERBA License Agreement In June 2022, the Company entered into a license agreement (the “Romeg License Agreement”) with RxOmeg Therapeutics, LLC (a/k/a Romeg Therapeutics, Inc.) (“Romeg”). Pursuant to the Romeg License Agreement, among other things, Romeg granted the Company (a) a transferable license, with the right to sublicense, to (i) commercialize the pharmaceutical product comprising liquid formulations of colchicine for the prophylactic treatment of gout in adult humans (the “Initial Licensed Product” or “GLOPERBA”) in the United States (including its territories) (the “GLOPERBA Territory”), (ii) develop other products comprising the Initial Licensed Product as an active pharmaceutical ingredient (the “Licensed Products”) and commercialize any such products and (iii) manufacture Licensed Products anywhere in the world, solely for commercialization in the GLOPERBA Territory; and (b) an exclusive, transferable license, with a right to sublicense, to use the trademark GLOPERBA and logos, designs, translations, and modifications thereof in connection with the commercialization of the Initial Licensed Product solely in the GLOPERBA Territory. The Initial Licensed Product, GLOPERBA, was approved and made available in the United States in 2020. As consideration for the license under the Romeg License Agreement, the Company paid Romeg an up-front license fee of $ 2.0 million , and has agreed to pay Romeg (a) upon the Company’s achievement of certain net sales milestones, certain milestone payments in the aggregate amount of up to $ 13.0 million , (b) certain royalties in the mid-single digit to low-double digit percentages based on annual net sales of the Licensed Products by the Company during the applicable royalty term under the Romeg License Agreement, and (c) minimum quarterly royalty payments totaling $ 7.1 million commencing on the first year anniversary of the effective date of the Romeg License Agreement and ending on the later of (i) expiration of the last-to-expire of the licensed patents covering the Licensed Products in the GLOPERBA Territory or (ii) the tenth anniversary of the effective date of the Romeg License Agreement. In connection with the Romeg License Agreement, the Company recorded an intangible asset for acquired licenses of $ 5.7 million , which is comprised of the upfront license fee of $ 2.0 million and deferred consideration of $ 3.7 million that is the present value of the future minimum royalty payments and immaterial transaction costs. No contingent consideration was recognized as a liability or included in the fair value of the assets as of March 31, 2024 or December 31, 2023. ELYXYB Acquisition On February 12, 2023, the Company entered into an asset purchase agreement (the “ELYXYB APA”) with BioDelivery Sciences International, Inc. (“BDSI”) and Collegium Pharmaceutical, Inc. (“Collegium”, and together with BDSI, the “Sellers”) to acquire the rights to certain patents, trademarks, regulatory approvals, data, contracts, and other rights related to ELYXYB and its commercialization in the United States and Canada (the “ELYXYB Territory”). As consideration for the acquisition, the Company assumed various rights and obligations under the asset purchase agreement between BDSI and Dr. Reddy’s Laboratories Limited, a company incorporated under the laws of India (“DRL”), dated August 3, 2021 (the “DRL APA”), including an irrevocable, royalty-free, exclusive license to know-how and patents of DRL related to ELYXYB and necessary or used to exploit ELYXYB in the ELYXYB Territory. No cash consideration was or will be payable to the Sellers for such acquisition; however, the obligations under the DRL APA that were assumed by the Company include contingent sales and regulatory milestone payments and sales royalties. The Company is also obligated to make quarterly royalty payments to DRL on net sales of ELYXYB in the ELYXYB Territory. In April 2023, the Company launched ELYXYB in the U.S. As of March 31, 2024 and December 31, 2023, the Company had ending balances of accrued royalty paya bles of $ 48.5 thousand and $ 5.0 thousand, respectively. As of March 31, 2024 , no sales or regulatory milestone payments had been accrued as there were no potential milestones yet considered probable of achievement.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and the level of inputs used in such measurements (in thousands): March 31, 2024 Balance Quoted Prices Significant Significant Unobservable Inputs (Level 3) Liabilities Oramed Note $ 92,923 $ — $ — $ 92,923 Derivative liabilities 6,941 — — 6,941 Other long-term liabilities 182 — — 182 Total liabilities measured at fair value $ 100,046 $ — $ — $ 100,046 December 31, 2023 Balance Quoted Prices Significant Significant Liabilities Oramed Note $ 104,089 $ — $ — $ 104,089 Convertible Debentures 4,340 — — 4,340 Derivative liabilities 1,518 — — 1,518 Other long-term liabilities 179 — — 179 Total liabilities measured at fair value $ 110,126 $ — $ — $ 110,126 The Oramed Note In September 2023, the Company issued a senior secured promissory note to Oramed Pharmaceuticals Inc. (“Oramed”) in the principal amount of $ 101.9 million (the “Oramed Note”) (see Note 7). The Company elected the fair value option to account for the Oramed Note with any changes in the fair value of the note recorded in the unaudited condensed consolidated statements of operations. The Company uses a discounted cash flow model to determine the fair value of the Oramed Note based on Level 3 inputs. This methodology discounts the interest and principal payments using a risk-adjusted discount rate. The fair value as of March 31, 2024 was determined to be $ 92.9 million by applying a discount rate of 12.64 % . For the three months ended March 31, 2024, the Company recorded $ 3.8 million in change in fair value of the Oramed Note. Convertible Debentures In March and April 2023, the Company issued the Convertible Debentures in the principal amount of $ 25.0 million (see Note 7). The Convertible Debentures were measured at fair value on a recurring basis using Level 3 inputs. The Company used the Binomial Lattice Model valuation technique to measure the fair value of the Convertible Debentures with any changes in the fair value of the Convertible Debentures recorded in the unaudited condensed consolidated statements of operations. Interest expense related to the Convertible Debentures is included in the changes in fair value. The Company fully repaid the Convertible Debentures in March 2024. Derivative Liabilities The Company recorded a loss of $ 0.5 million for the three months ended March 31, 2024, attributed to warrant liabilities consisting of the Private Warrants, the Firm Warrants and the Representative Warrants (each as defined below). The Company recorded a loss of $ 5.3 million for the three months ended March 31, 2023, attributed to warrant liability consisting of the Private Warrants. The Company assumed the private placement warrants from Vickers in November 2022 in connection with the Business Combination (“Private Warrants”). The Company issued the Firm Warrants and the Representative Warrants in March 2024 as part of the Bought Deal Offering (as defined below). As of March 31, 2024, there were 3,613,383 Private Warrants, 5,882,353 Firm Warrants and 470,588 Representative Warrants outstanding. The fair value of derivative warrant liabilities related to the Firm Warrants, the Representative Warrants and the Private Warrants was $ 6.9 million . The following table includes a summary of the derivative liabilities measured at fair value during the three months ended March 31, 2024 (in thousands): Fair Value Ending Balance as of December 31, 2023 $ 1,518 Change in fair value measurement 457 Issuance of Firm Warrants and Representative Warrants as part of the Bought Deal Offering 4,966 Ending Balance as of March 31, 2024 $ 6,941 Warrant Liability Measurement The derivative warrant liability was valued using the Black-Scholes option pricing model, which is considered to be Level 3 fair value measurement. The primary unobservable input utilized in determining the fair value of the warrant is the expected volatility of the Common Stock. The expected volatility assumption is based on historical volatilities of comparable companies whose share prices are publicly available as well as the implied volatility of the Public Warrants (as defined below), described in Note 9 of the Notes to consolidated financial statements in the Annual Report on Form 10-K . A summary of the inputs used in valuing the derivative warrant liabilities is as follows: Private Warrants March 31, December 31, 2024 2023 Equity value $ 1.59 $ 2.04 Exercise price $ 11.50 $ 11.50 Term, in years 3.61 3.86 Volatility 90.0 % 76.0 % Risk-free rate 4.30 % 3.90 % Dividend yield 0.0 % 0.0 % Call option value $ 0.39 $ 0.42 Firm Warrants March 31, 2024 Equity value $ 1.59 Exercise price $ 1.70 Term, in years 4.93 Volatility 64.0 % Risk-free rate 4.17 % Dividend yield 0.0 % Call option value $ 0.88 Representative Warrants March 31, 2024 Equity value $ 1.59 Exercise price $ 2.13 Term, in years 4.93 Volatility 68.0 % Risk-free rate 4.17 % Dividend yield 0.0 % Call option value $ 0.76 Contingent Consideration Related to SP-104 Acquisition The Development Milestone Payment related to the SP-104 Assets represents an obligation to potentially settle a fixed value in a variable number of shares of Common Stock and requires remeasurement at fair value through settlement. Upon the achievement of FDA approval for a new drug application for SP-104, the Company will transfer $ 3.0 million in cash or shares of Common Stock, at the discretion of the Company. The fair value of the contingent consideration liability associated with the Development Milestone Payment was estimated using a probability-weighted discounted cash flow method. Significant unobservable inputs assumptions included the likelihood of receiving FDA approval for SP-104, expected timing for receipt of FDA approval for SP-104, and a discount rate of 10.6 % . As of March 31, 2024 and December 31, 2023, the fair value of contingent consideration related to the Development Milestone Payment was $ 0.2 million .

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Balance Sheet Components	5. Balance Sheet Components Property and equipment, net Property and equipment, net consists of the following (in thousands): March 31, December 31, 2024 2023 Construction in progress $ 689 $ 689 Furniture 5 5 Computers and equipment 9 36 Leasehold improvements 50 50 Property and equipment, gross 753 780 Less: Accumulated depreciation ( 35 ) ( 58 ) Property and equipment, net $ 718 $ 722 The Company recognized depreciation expense of $ 4.0 thousand and $ 10.0 thousand for the three months ended March 31, 2024 and 2023, respectively. Accrued Expenses Accrued expenses consists of the following (in thousands): March 31, December 31, 2024 2023 Accrued professional service fees $ 4,477 $ 2,029 Accrued tax payable 1,432 1,452 Accrued research and development costs 1,216 1,546 Accrued sales and marketing costs 585 1,601 Accrued litigation expenses 500 500 Accrued others 354 280 Accrued expenses $ 8,564 $ 7,408

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	6. Goodwill and Intangible Assets As of March 31, 2024 and December 31, 2023, the Company had recorded goodwill of $ 13.5 million . No goodwill impairment was recognized for the three months ended March 31, 2024 and 2023. Amortization of the intangible assets that have finite useful lives is generally recorded on a straight-line basis over their useful lives. A summary of the Company’s identifiable intangible assets as of March 31, 2024 and December 31, 2023 is as follows (in thousands): March 31, 2024 Gross Carrying Amount Accumulated Amortization Intangibles, net Patent rights $ 32,630 $ 16,136 $ 16,494 Acquired technology 21,940 8,045 13,895 Acquired licenses 5,711 642 5,069 Assembled workforce 500 500 — Total intangible assets $ 60,781 $ 25,323 $ 35,458 December 31, 2023 Gross Carrying Amount Accumulated Amortization Intangibles, net Patent rights $ 32,630 $ 15,591 $ 17,039 Acquired technology 21,940 7,679 14,261 Acquired licenses 5,711 551 5,160 Assembled workforce 500 475 25 Total intangible assets $ 60,781 $ 24,296 $ 36,485 As of March 31, 2024, the weighted average remaining life for identifiable intangible assets was 9.2 years. Aggregate amortization expense was $ 1.0 million for each of the three months ended March 31, 2024 and 2023. Estimated future amortization expense related to intangible assets as of March 31, 2024 is as follows (in thousands): Amount 2024 $ 3,004 2025 4,006 2026 4,006 2027 4,006 2028 4,006 Thereafter 16,430 Total $ 35,458

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	7. Debt Convertible Debentures On March 21, 2023, the Company entered into the Yorkville SPA pursuant to which the Company would issue and sell to Yorkville Convertible Debentures in an aggregate principal amount of up to $ 25.0 million. The Yorkville SPA provided that the Convertible Debentures would be issued and sold at a purchase price equal to 96 % of the applicable principal amount in three tranches as follows: (i) $ 10.0 million upon the signing of the Yorkville SPA, which was funded on March 21, 2023, (ii) $ 7.5 million upon the filing of a registration statement on Form S-1 with the SEC to register the resale by Yorkville of any shares of Common Stock issuable upon conversion of the Convertible Debentures under the Securities Act of 1933, as amended (the “Securities Act”), which was funded on April 11, 2023 and (iii) $ 7.5 million at the time such registration statement is declared effective by the SEC, which was funded on April 20, 2023. The Convertible Debentures bore interest at an annual rate of 7.00 % and was initially set to mature on December 21, 2023 . On October 11, 2023, the Company and Yorkville amended the Convertible Debentures. The Default Conversion Price (as defined therein) was originally set not to fall below $ 2.00 per share and such floor price has been amended to mean a price per share of Common Stock equal to 95% of the lowest daily VWAP (as defined therein) during the five consecutive trading days immediately preceding the conversion date, but not lower than $ 0.50 per share. The maturity date of the Convertible Debentures was also extended from December 21, 2023 to March 15, 2024 . The outstanding principal amount was to be repaid in equal installments that are due every 30 days beginning on May 20, 2023, which is 60 days after the date on which the first Convertible Debenture was issued to Yorkville. The Convertible Debentures provided a conversion right, in which any portion of the outstanding and unpaid principal and any accrued but unpaid interest, may be converted into shares of Common Stock, at a conversion price of $ 8.00 per share at the option of the holder of the Convertible Debentures. The Company had the option to repay either (i) in cash, with premium equal to 5 % in respect of the principal amount of such payment, or (ii) by submitting a notice for an advance under the A&R Yorkville Purchase Agreement , or a series of advances thereunder, or any combination of (i) or (ii) as determined by the Company. In the case of (ii), the proceeds from the shares sold to Yorkville are applied against the outstanding amounts. The Company had the right, but not the obligation, in its sole discretion, to redeem, upon five business days’ prior written notice to Yorkville (the “Redemption Notice”), all or any portion of the amounts outstanding under the Convertible Debentures; provided that the trading price of the Common Stock is less than the Conversion Price at the time of the Redemption Notice. The redemption amount shall be equal to the outstanding principal balance being redeemed by the Company, plus the redemption premium of 10 % of the principal amount being redeemed, plus all accrued and unpaid interest in respect of such redeemed principal amount. The Company elected the fair value option for the Convertible Debentures and recorded the changes in the fair value within the consolidated statements of operations at the end of each reporting period. Pursuant to the Yorkville SPA, the Company issued additional Convertible Debentures in an aggregate principal amount of $ 15.0 million in April 2023 for $ 14.4 million in net cash proceeds. In April 2023, Yorkville elected to convert $ 5.0 million of the outstanding principal and accrued interest of the first Convertible Debentures issued to Yorkville, resulting in the issuance of 632,431 shares of Common Stock at a conversion price of $ 8.00 per share and reducing the outstanding Convertible Debentures balance by $ 7.7 million . The Company repaid the remaining $ 4.4 million of Convertible Debentures during the three months ended March 31, 2024. Interest expense related to the Convertible Debentures and included in the changes in fair value was $ 35 thousand for the three months ended March 31, 2024. The following table provides a summary of the changes in the balance and the estimated fair value of the Convertible Debentures (in thousands): March 31, 2024 Beginning Balance as of January 1, 2024 $ 4,340 Repayment of Convertible Debentures ( 4,375 ) Change in fair value of Convertible Debentures 35 Ending Balance as of March 31, 2024 $ - Revolving Facility On June 27, 2023, Scilex Pharma entered into the eCapital Credit Agreement pursuant to which the Lender shall make available loans (the “Revolving Facility”) in an aggregate principal amount of up to $ 30.0 million . The Facility Cap may, at the request of Scilex Pharma and with the consent of the Lender, be increased in increments of $ 250,000 at such time as the outstanding principal balance under the eCapital Credit Agreement equals or exceeds 95 % of the then-existing Facility Cap. The amount available to Scilex Pharma under the Revolving Facility at any one time is the lesser of the Facility Cap and 85 % of the “Net Collectible Value” of “Eligible Receivables” (each as defined therein) minus the amount of any reserves or adjustments against receivables required by the Lender, in its discretion. Under the terms of the eCapital Credit Agreement, interest will accrue daily on the principal amount outstanding at a rate per annum equal to the Wall Street Journal Prime Rate plus 1.5 % , based on a year consisting of 360 days, and which shall be payable by Scilex Pharma monthly in arrears, commencing July 1, 2023. The eCapital Credit Agreement provides for an early termination fee of 0.5 % of the Facility Cap if Scilex Pharma voluntarily prepays and terminates in full the Revolving Facility prior to the first anniversary of the closing of the Revolving Facility. In connection with the eCapital Credit Agreement, Scilex Pharma and the Lender entered into blocked account control agreements with respect to Scilex Pharma’s collections and eCapital Credit Agreement funding accounts, which permit the Lender to sweep all funds in the collections account to an account of the Lender for application to the outstanding amounts under the Revolving Facility, and to exercise customary secured party remedies with respect to the eCapital Credit Agreement funding account. All indebtedness incurred and outstanding under the eCapital Credit Agreement will be due and payable in full on July 1, 2026, unless the eCapital Credit Agreement is earlier terminated. The eCapital Credit Agreement contains a financial covenant requiring Scilex Pharma to maintain cash on hand of at least $ 1.0 million at all times. Scilex Pharma’s obligations under the eCapital Credit Agreement are secured by a continuing security interest in Scilex Pharma’s accounts receivable, arising from customers in the ordinary course of business. The eCapital Credit Agreement contains customary events of default and also provides that an event of default includes a change of control of Scilex Pharma and the failure by the Company to issue at least $ 75.0 million of debt or equity by September 30, 2023, which condition was satisfied by the issuance of the Oramed Note. As of March 31, 2024, Scilex Pharma has an outstanding balance of $ 16.3 million under the Revolving Facility, which is classified as a long-term liability in the unaudited condensed consolidated balance sheet. On September 21, 2023, Scilex Pharma signed a subordination agreement (the “Subordination Agreement”) with the Lender and Acquiom Agency Services LLC (the “Agent”). Pursuant to the Subordination Agreement, the rights and interests of the Lender under the eCapital Credit Agreement would be secured by first priority liens on the ABL Priority Collateral (as defined therein). The ABL Priority Collateral consists of all of the Company’s properties identified in the description of collateral in the UCC-1 Financing Statement filed with the Delaware Secretary of State on June 27, 2023. The Agent’s rights and interests under the Subsidiary Guarantee, dated as of September 21, 2023, entered into by the Company and each of its subsidiaries with Oramed and the Agent (the “Subsidiary Guarantee”), would be secured by first priority liens on certain other collateral and second priority liens on the ABL Priority Collateral. The Subordination Agreement also includes other standard interlender terms and requires that the Facility Cap (as defined therein) shall not exceed $ 30.0 million. The Oramed Note On September 21, 2023, the Company entered into a securities purchase agreement with Oramed (the “Scilex-Oramed SPA”), pursuant to which the Company issued the Oramed Note. The Oramed Note, which has a principal amount of $ 101.9 million , matures on March 21, 2025 . It is payable in six principal installments, with the first installment of $ 5.0 million payable on December 21, 2023 , the second installment in the principal amount of $ 15.0 million payable on March 21, 2024 , the next three installments each in the principal amount of $ 20.0 million payable on each of June 21, 2024 , September 21, 2024 and December 21, 2024 and the last installment in the entire remaining principal balance of the Oramed Note payable on March 21, 2025 . Interest under the Oramed Note accrues at a fluctuating per annum interest rate equal to the sum of (1) greater of (x) 4 % and (y) Term SOFR (as defined in the Oramed Note) and (2) 8.5 %, payable in-kind on a monthly basis. Pursuant to the Oramed Note, since the outstanding principal of the Oramed Note was not repaid in full on or prior to March 21, 2024, an exit fee of approximately $ 3.1 million has been earned with respect to the Oramed Note, which shall be due and payable on the date on which the outstanding principal amount of the Oramed Note is paid in full. Upon the occurrence and during the continuance of an event of default under the Oramed Note, holders of more than 50 % of the aggregate unpaid principal amount of the Oramed Notes may elect to accrue interest at a default rate equal to the lesser of (i) Term SOFR plus 15 % or (ii) the maximum rate permitted under applicable law. Voluntary prepayments made before the one-year anniversary of the closing date of the Scilex-Oramed SPA must include a make-whole amount equal to 50 % of the additional interest that would accrue on the principal amount so prepaid from the date of such prepayment through and including the maturity date. If the Oramed Note is accelerated upon an event of default, repayment is required at a mandatory default rate of 125 % of the principal amount (together with 100 % of accrued and unpaid interest thereon and all other amounts due in respect of the Oramed Note). The Oramed Note contains mandatory prepayment provisions requiring use of 70 % of net cash proceeds from any Cash Sweep Financing (as defined in the Oramed Note) or advances under the ELOCs (as defined in the Oramed Note) to prepay the outstanding principal after the earlier of April 1, 2024 or full repayment of Acceptable Indebtedness (as defined in the Oramed Note). Following the Registered Direct Offering (as defined below and as described under Note 13), the Company made a mandatory prepayment of $ 9,578,835 to Oramed, which equals 70% of the net cash proceeds the Company received from the Registered Direct Offering. Given such payment was not a voluntary prepayment, such prepayment did not trigger the make-whole amount under the Oramed Note. The Oramed Note contains affirmative and negative covenants binding on the Company and its subsidiaries, which restrict, among other things, the Company and its subsidiaries from incurring indebtedness or liens, amending charter and organizational documents, repaying or repurchasing stock, repaying, repurchasing, or acquiring indebtedness, paying or declaring cash dividends, assigning, selling, transferring or otherwise disposing of assets, making or holding investments, entering into transactions with affiliates, and entering into settlement agreements, in each case as more fully set forth in, and subject to certain qualifications and exceptions set forth in the Oramed Note. The Company was in compliance with all of the covenants as of March 31, 2024. In connection with the Oramed Note, the Company and each of its subsidiaries (collectively, the “Guarantors”) entered into a security agreement (the “Security Agreement”) with Oramed (together with its successors and permitted assigns, the “Holder”) and the Agent, which acts as the collateral agent for the holders of the Oramed Note. Under this agreement, the Company and the Guarantors granted to the Agent (on behalf of and for the benefit of the holders of the Oramed Note and any Additional Notes as defined thereunder) a security interest in all or substantially all of the properties of the Company and each of the Guarantors. This was done to ensure the timely payment, performance, and full discharge of all obligations under the Oramed Note. The Security Agreement contains certain customary representations, warranties and covenants regarding the collateral thereunder, all of which are detailed in the Security Agreement. At issuance, the Company concluded that certain features of the Oramed Note would be considered derivatives that would require bifurcation. In lieu of bifurcating such features, the Company has elected the fair value option for this financial instrument and records the changes in the fair value within the consolidated statements of operations at the end of each reporting period. As of March 31, 2024, the fair value of the Oramed Note was $ 92.9 million , which is classified as a current liability in the unaudited condensed consolidated balance sheet. The following table provides a summary of the changes in the balance and the estimated fair value of the Oramed Note (in thousands): March 31, 2024 Beginning Balance as of January 1, 2024 $ 104,089 Change in fair value of Oramed Note 3,834 Repayment of Oramed Note $ ( 15,000 ) Ending Balance as of March 31, 2024 $ 92,923

Junior DIP Facility and Sorrent

Junior DIP Facility and Sorrento Share Purchase Agreement	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Junior DIP Facility and Sorrento Share Purchase Agreement	8. Junior DIP Facility and Sorrento Stock Purchase Agreement Junior DIP Facility In July 2023, the Company entered into an agreement to provide Sorrento with a non-amortizing super-priority junior secured term loan facility (“Junior DIP Facility”) in an aggregate principal amount of $ 20.0 million (the “Junior DIP Loan Agreement”), which was funded in the same month. The Junior DIP Facility bears interest at a per annum rate of 12.00 % payable in kind on the first day of each month in arrears and on the DIP Termination Date (as defined in the Junior DIP Loan Agreement). Upon repayment or satisfaction of the DIP Loans (as defined in the Junior DIP Loan Agreement) in whole or in part, Sorrento is required to pay to the Company in cash an exit fee equal to 2.00 % of the aggregate principal amount of the Junior DIP Facility. The Junior DIP Facility was to mature on the earliest of: (i) September 30, 2023; (ii) the effective date of any Chapter 11 plan of reorganization with respect to Sorrento; (iii) the consummation of any sale or other disposition of all or substantially all of the assets of Sorrento; (iv) the date of the acceleration of the DIP Loans and the termination of the DIP Commitments (as defined in the Junior DIP Loan Agreement) in accordance with the DIP Documents (as defined in the Junior DIP Loan Agreement) ; and (v) dismissal of the Chapter 11 Cases or conversion of the Chapter 11 Cases into cases under Chapter 7 of the Bankruptcy Code. On September 21, 2023, Sorrento’s obligations under the Junior DIP Facility were waived and deemed to be fully settled in conjunction with the Sorrento SPA. Consequently, the transfer of funds associated with the Junior DIP Facility was deemed and accounted for as a capital distribution to Sorrento. Sorrento Stock Purchase Agreement On September 21, 2023, the Company entered into the Sorrento SPA pursuant to which the Company purchased from Sorrento (i) 60,068,585 shares of Common Stock, (ii) 29,057,097 shares of Series A Preferred Stock, par value $ 0.0001 per share, of the Company (the “Preferred Stock”) and (iii) 1,386,617 Public Warrants (as defined below) and 3,104,000 Private Warrants (collectively, the “Purchased Securities”). On the same day, the Company and Oramed entered into the Scilex-Oramed SPA. The Company concluded that the Sorrento SPA and the Scilex-Oramed SPA were entered in contemplation of each other and the issuance of the Oramed Note was accounted as part of the consideration payable for the Purchased Securities acquired from Sorrento. Pursuant to the terms of the Scilex-Oramed SPA, the Company issued the Oramed Note (see Note 7), which replaced Sorrento’s outstanding obligations to Oramed, warrants to purchase up to an aggregate of 4,500,000 shares of Common Stock (the “Closing Penny Warrant”) with an exercise price of $ 0.01 per share and restrictions on exercisability, and warrants to purchase up to an aggregate of 8,500,000 shares of Common Stock (the “Subsequent Penny Warrants” and together with the Closing Penny Warrant, the “Penny Warrants”), each with an exercise price of $ 0.01 per share and each with restrictions on exercisability. Additionally, the Company agreed to transfer to Oramed 4,000,000 SPAC Warrants (as defined below), which were acquired by the Company under the Sorrento SPA. There was no change in the terms for the warrants transferred to Oramed as a result of the transactions described above. The remaining consideration for the Purchased Securities was comprised of a credit bid for all amounts of principal and accrued but unpaid interest outstanding under the Junior DIP Facility, a $ 10.0 million cash payment, and the assumption and assignment of certain obligations of Sorrento for legal fees and expenses amounting to approximately $ 12.3 million . The Company allocated the total consideration between the repurchased instruments by allocating to the repurchased Private Warrants their full value, with the remaining consideration allocated to the Common Stock, Preferred Stock, and Public Warrants (as defined below) based on their relative fair values as of September 21, 2023. Before the closing of the Sorrento SPA transactions and in connection with the transactions contemplated by the Sorrento SPA, the Company formed two entities: (a) Scilex DRE Holdings LLC (“Holdco”), a single purpose entity that is the Company’s direct wholly owned subsidiary and (b) Scilex Stock Acquisition Joint Venture LLC, a single purpose bankruptcy-remote entity that is the Company’s indirect wholly owned subsidiary (“SCLX JV”), which was formed to hold the Purchased Securities. Holdco was formed to hold all of the equity interests in SCLX JV. Holdco and SCLX JV are parties to the Security Agreement and Subsidiary Guarantee (see Note 7). Preferred Stock Pursuant to the terms of the Sorrento SPA, the Company repurchased all of the outstanding Preferred Stock . The Preferred Stock is classified in equity and does not have any bifurcated features. Therefore, the repurchase of the Preferred Stock by the Company is treated as a redemption of shares and viewed as a deemed dividend. The fair value of Preferred Stock as of the repurchase date of September 21, 2023 was $ 52.6 million . The Company derecognized the carrying value of the Preferred Stock, with any excess amount allocated as the reduction in additional paid-in capital. The Preferred Stock is currently held as collateral for the Oramed Note. Treasury Stock The Common Stock that has been repurchased by the Company under the Sorrento SPA is not intended for constructive retirement, and is being held as collateral for the Oramed Note. In accordance with treasury stock accounting guidance, the consideration allocated to Common Stock is presented under a separate caption of Treasury Stock as a reduction of equity. Penny Warrants The Closing Penny Warrant will be exercisable upon the earliest of (i) March 14, 2025 , (ii) the date on which the Oramed Note has been repaid in full and (iii) the Management Sale Trigger Date (as defined therein), if any, and will expire on the date that is the fifth anniversary of the issuance date. The Company issued four Subsequent Penny Warrants, each for 2,125,000 shares of Common Stock, one of which shall vest and become exercisable on the date that is the later of (i) each of March 19, 2024 , June 17, 2024 , September 15, 2024 or December 14, 2024 (the “Subsequent Penny Warrant Vesting Date”) and (ii) the earliest of (A) March 14, 2025 , (B) the date on which the Oramed Note has been repaid in full and (C) the Management Sale Trigger Date (as defined therein), if any. Each Subsequent Penny Warrant will expire on the date that is the fifth anniversary of the issuance date; provided that, if the Oramed Note is repaid in full prior to the Subsequent Penny Warrant Vesting Date applicable to such Subsequent Penny Warrant, such Subsequent Penny Warrant will expire on the date the Oramed Note is repaid in full. The exercise price of the Penny Warrants is $ 0.01 per share, subject to adjustments provided therein. The exercise price and number of shares of Common Stock issuable upon the exercise of the Penny Warrants will be subject to adjustment in the event of any stock dividend, stock split, recapitalization, reorganization or similar transaction, as described in the Penny Warrants; provided that there shall not be any adjustment to the exercise price of the Penny Warrants in the event the Company combines (by combination, reverse stock split or otherwise) its Common Stock into a smaller number of shares. Oramed may exercise the Penny Warrants by means of a “cashless exercise.” The Closing Penny Warrant and the Subsequent Penny Warrants utilize the same form of warrant. The Penny Warrants may not be exercised if Oramed, together with its affiliates, would beneficially own in excess of 9.9 % of the number of shares of Common Stock outstanding immediately after giving effect to such exercise (the “Oramed Beneficial Ownership Limitation”); provided, however, that upon 61 days’ prior notice to the Company, Oramed may increase or decrease the Oramed Beneficial Ownership Limitation. The Company accounted for the Penny Warrants as an equity classified instrument as they are indexed to the Company’s own stock and meet the conditions to be classified in equity under FASB ASC 815, Derivatives and Hedging, including sufficient available shares for the Company to settle the exercise of the warrants in shares. The Penny Warrants are recognized in additional paid-in capital in the Company’s consolidated balance sheets. The fair value of Penny Warrants as of September 21, 2023, the date of issuance, was $ 10.4 million. Excise Tax In December 2022, the Department of the Treasury and the Internal Revenue Service (the “IRS”) issued guidelines on the implementation of the new code section added by the Inflation Reduction Act of 2022, which imposes a 1% excise tax on the total fair market value of stock repurchases during the tax year, subject to adjustments. Pursuant to the terms of the Sorrento SPA, the Company repurchased the Purchased Securities from Sorrento. The total fair market value of the Purchased Securities was offset by the fair market value of the shares issued during the year ended December 31, 2023. The Company has accrued $ 1.3 million of the excise tax liability, which is recorded as accrued expenses under current liabilities on the unaudited condensed consolidated balance sheet. The excise tax will be adjusted based on any new guidance that the IRS may release.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS EQUITY	9. Stockholders’ Equity SPAC Warrants Upon the completion of the Business Combination, the Company assumed the Private Warrants and the public warrants to purchase Common Stock, each with an exercise price of $ 11.50 per share (the “Public Warrants”, and together with the Private Warrants, the “SPAC Warrants”). Holders of the SPAC Warrants are entitled to acquire shares of Common Stock. The SPAC Warrants will expire five years after the completion of the Business Combination or earlier upon redemption or liquidation. If the reported last sale price of the Common Stock equals or exceeds $ 18.00 per share for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders, the Company may redeem all the Public Warrants at a price of $ 0.01 per warrant upon not less than 30 days’ prior written notice. If the Company calls the Public Warrants for redemption, the Company will have the option to require all holders that wish to exercise the Public Warrants to do so on a cashless basis. The Company will not be required to net cash settle the SPAC Warrants. The Public Warrants are equity-classified warrants and recognized in additional paid-in capital in the accompanying consolidated balance sheets. The Private Warrants are liability-classified warrants and are recognized as liabilities (refer to Notes 1 and 4). During the year ended December 31, 2023, the SPAC Warrants held by Sorrento were repurchased, and certain of such warrants transferred to Oramed, as a result of the Sorrento SPA (refer to Note 8). As of March 31, 2024 and December 31, 2023, there were 6,854,309 Public Warrants outstanding. As of March 31, 2024 and December 31, 2023, there were 3,613,383 Private Warrants outstanding. Preferred Stock As of March 31, 2024 and December 31, 2023, there were 29,057,097 shares of Preferred Stock outstanding. On September 21, 2023, the Preferred Stock was repurchased and derecognized for accounting purposes. The Preferred Stock is currently held as collateral for the Oramed Note. Treasury Stock As of March 31, 2024 and December 31, 2023, there were 60,068,585 shares of Treasury Stock. A&R Yorkville Purchase Agreement Pursuant to the A&R Yorkville Purchase Agreement, the Company had the right, but not the obligation, in its sole and absolute discretion, to sell to Yorkville up to $ 500.0 million of shares of Common Stock at its request and subject to certain conditions by delivering written notice to Yorkville at any time until the first day of the month following the 36-month anniversary of the date on which the Company’s registration statement on Form S-1 registering such shares has been declared effective by the SEC. Pursuant to the A&R Yorkville Purchase Agreement, the shares of Common Stock, if any, that the Company elected to sell to Yorkville pursuant to a sale of Common Stock will be purchased at a price equal to 98 % of the VWAP (as defined below) during the applicable pricing period for such advance, which shall be the period commencing upon receipt by Yorkville of an advance notice from the Company (or the open of regular trading hours, if later) and ending on 4:00 p.m. on the same day. For purposes of the A&R Yorkville Purchase Agreement, “VWAP” means, for a specified period, the volume weighted average price of the Common Stock on the Nasdaq Capital Market for such period as reported by Bloomberg L.P. through its “AQR” function. Pursuant to the terms of the Original Purchase Agreement, the Company filed a registration statement on Form S-1 (File No. 333-268607) (as it may be amended or supplemented from time to time, the “Yorkville Registration Statement”) related to the Original Purchase Agreement with the SEC on November 30, 2022 (following the execution of the Original Purchase Agreement). The Yorkville Registration Statement was initially declared effective by the SEC on December 9, 2022. In connection with the execution of the Original Purchase Agreement, the Company issued to Yorkville 250,000 shares of Common Stock. During the three months ended March 31, 2024, the Company sold 96,982 shares of Common Stock pursuant to the A&R Yorkville Purchase Agreement for aggregate net proceeds of $ 0.2 million . On, and effective as of, March 25, 2024, the Company and Yorkville mutually agreed to terminate the A&R Yorkville Purchase Agreement. B. Riley Purchase Agreement Pursuant to the B. Riley Purchase Agreement, the Company had the right, but not the obligation, to sell to B. Riley up to $ 500.0 million of shares of Common Stock, subject to certain limitations and conditions set forth therein, from time to time at the Company’s sole and absolute discretion, during the term of the B. Riley Purchase Agreement. The Company’s right to sell shares of Common Stock pursuant to the B. Riley Purchase Agreement shall end on the first day of the month following the 36-month anniversary of the date on which the B. Riley Registration Statement (as defined below) was initially declared effective by the SEC. Pursuant to the terms of the B. Riley Purchase Agreement, the Company filed a registration statement on Form S-1 (File No. 333-269205) (as it may be amended or supplemented from time to time, the “B. Riley Registration Statement”) related to the B. Riley Purchase Agreement with the SEC on January 12, 2023 (following the execution of the B. Riley Purchase Agreement). The B. Riley Registration Statement was initially declared effective by the SEC on January 20, 2023. The shares of Common Stock, if any, that the Company elects to sell to B. Riley pursuant to an advance under the B. Riley Purchase Agreement will be purchased at a price equal to 98 % of the VWAP (as defined in such agreement) during the pricing period prescribed therein. In connection with the execution of the B. Riley Purchase Agreement, the Company issued to B. Riley 250,000 shares of Common Stock. During the three months ended March 31, 2024, the Company did not sell any shares of Common Stock pursuant to the B. Riley Purchase Agreement. On, and effective as of, February 16, 2024, the Company and B. Riley mutually agreed to terminate the B. Riley Purchase Agreement. At-the-Market Sales Agreement On December 22, 2023, the Company entered into a Sales Agreement (the “ATM Sales Agreement”) with B. Riley Securities, Inc., Cantor Fitzgerald & Co. and H.C. Wainwright & Co., LLC (the “Sales Agents”). Pursuant to the ATM Sales Agreement, the Company may offer and sell (the “Offering”) shares of Common Stock up to $ 170,000,000 (the “ATM Shares”), through or to the Sales Agents. The Company has no obligation to sell any shares of Common Stock under the ATM Sales Agreement and may suspend offers at any time. The Offering will terminate upon (i) the election of the Sales Agents upon the occurrence of certain adverse events, (ii) three business days’ advance notice from the Company to the Sales Agents or a Sales Agent to the Company, or (iii) the sale of all $ 170,000,000 of shares of Common Stock thereunder. The ATM Shares offered and sold in the Offering will be issued pursuant to an effective shelf registration statement on Form S-3 (which was initially filed with the SEC on December 22, 2023, as amended, and declared effective on January 11, 2024 (File No. 333-276245)) (the “Shelf S-3 Registration Statement”). The ATM Shares may be offered only by means of a prospectus forming a part of the Shelf S-3 Registration Statement. The Sales Agents are entitled to a commission equal to 3.0 % of the gross proceeds from each sale of shares of Common Stock. The Company will also reimburse the Sales Agents for certain expenses and has agreed to provide indemnification and contribution to the Sales Agents against certain civil liabilities, including liabilities under the Securities Act. As of March 31, 2024, the Company sold 92,295 shares of Common Stock pursuant to the ATM Sales Agreement for net proceeds of approximately $ 0.1 million . Underwriting Agreement On February 29, 2024, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Rodman & Re nshaw LLC and StockBlock Securities LLC, acting as representatives of the underwriters, to sell, in an underwritten offering (the “Bought Deal Offering”), 5,882,353 shares of Common Stock (the “Firm Shares”) and accompanying common warrants to purchase up to an aggregate of 5,882,353 shares of Common Stock (the “Firm Warrants”). The securities in the Bought Deal Offering were offered and sold by us pursuant to the Shelf S-3 Registration Statement, a base prospectus dated January 11, 2024, and a final prospectus supplement dated February 29, 2024. The Bought Deal Offering closed on March 5, 2024, and the combined price per Firm Share and accompanying Firm Warrant paid by the underwriters was $ 1.564 , which amount reflects the combined public offering price of $ 1.70 , less underwriting discounts and commissions. Pursuant to the Underwriting Agreement, the Company also granted the underwriters a 30-day option to purchase up to 882,352 additional shares of Common Stock and/or common warrants to purchase up to 882,352 shares of Common Stock (the “Optional Warrants”, and together with the Firm Warrants, the “Common Warrants”). The underwriters did not exercise this option and it expired on March 30, 2024. Subject to certain ownership limitations, the Common Warrants are immediately exercisable upon issuance, set to expire five years later, with an exercise price of $ 1.70 per share, subject to adjustments. Additionally, the Company issued the Representative warrants (the “Representative Warrants”) to the underwriters, allowing them to purchase up to 470,588 shares of Common Stock, with these warrants being immediately exercisable at $ 2.125 per share, representing 125 % of the combined public offering price per Firm Share and accompanying Firm Warrant. As of March 31, 2024, there were 5,882,353 Firm Warrants and 470,588 Representative Warrants outstanding.

Stock Incentive and Employee Be

Stock Incentive and Employee Benefit Plans	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock Incentive and Employee Benefit Plans	10. Stock Incentive and Employee Benefit Plan 2017 Scilex Pharmaceuticals Inc. Equity Incentive Plan In June 2017, the Board of Directors of the Company (the “Board”) adopted the Scilex Pharmaceuticals Inc. Equity Incentive Plan (the “Scilex Pharma 2017 Plan”). In connection with the corporate reorganization in March 2019, the Scilex Pharma 2017 Plan was terminated. Accordingly, after such time, no additional awards were granted under the Scilex Pharma 2017 Plan. Scilex Holding Company 2019 Stock Option Plan In May 2019, the Board adopted the Scilex Holding Company 2019 Stock Option Plan (the “2019 Stock Option Plan”), which subsequently was amended in December 2020. The 2019 Stock Option Plan was terminated at the closing of the Business Combination, and no further awards have been granted under the 2019 Stock Option Plan thereafter. However, the 2019 Stock Option Plan will continue to govern outstanding awards granted thereunder. Scilex Holding Company 2022 Equity Incentive Plan In October 2022, the Board adopted the Scilex Holding Company 2022 Equity Incentive Plan (the “Equity Incentive Plan”). As of March 31, 2024 , a total of 20,129,644 shares of Common Stock were available and have been reserved for future issuance under the Equity Incentive Plan, which number of shares accounts for the automatic annual increase on January 1, 2024 pursuant to the Equity Incentive Plan. As of March 31, 2024, options to purchase 33,267,137 shares of Common Stock were outstanding under all equity incentive plans. Scilex Holding Company 2023 Inducement Plan On January 17, 2023, the compensation committee of the Board adopted the Scilex Holding Company 2023 Inducement Plan (the “Inducement Plan”). The Inducement Plan provides for the grant of equity-based awards in the form of non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, and other awards solely to prospective employees of the Company or an affiliate of the Company provided that certain criteria are met. The initial maximum number of shares available for grant under the Inducement Plan is 1,400,000 shares of Common Stock (subject to adjustment for recapitalizations, stock splits, reorganizations and similar transactions). No awards were granted under the Inducement Plan during the three months ended March 31, 2024. The following table summarizes stock option activity during the three months ended March 31, 2024 (shares in thousands): Options Weighted-Average Exercise Price Weighted-Average Aggregate Intrinsic Value Outstanding as of December 31, 2023 33,124 $ 4.38 7.5 $ 7,459 Granted 228 $ 1.37 Exercised ( 34 ) $ 1.34 Forfeited/Cancelled ( 51 ) $ 4.61 Outstanding as of March 31, 2024 33,267 $ 4.36 7.2 $ 1,100 Exercisable as of March 31, 2024 20,174 $ 2.99 6.2 $ 612 Intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the Common Stock for the options that had exercise prices that were lower than the per share fair value of the Common Stock as of the measurement date of the intrinsic value. The weighted-average grant date fair value per share of stock options granted during the three months ended March 31, 2024 was $ 0.89 per share. The total intrinsic value of options exercised during the three months ended March 31, 2024 was $ 8.8 thousand . Total stock-based compensation recorded within operating expenses was $ 3.6 million and $ 3.7 million for the three months ended March 31, 2024 and 2023, respectively. The total unrecognized compensation costs related to unvested employee and non-employee stock option grants as of March 31, 2024 were $ 38.0 million , which the Company expects to recognize over a weighted-average period of approximately 2.8 years. Scilex Holding Company 2022 Employee Stock Purchase Plan On October 17, 2022, the Board adopted the Scilex Holding Company 2022 Employee Stock Purchase Plan (the “ESPP”). The purchase price of the Common Stock is equal to 85 % of the lesser of the market value of such shares at the beginning of an offering period or the date of purchase. As of March 31, 2024, the total number of shares of Common Stock that may be issued under the ESPP shall not exceed 4,476,601 , which was increased from 2,875,759 shares as a result of automatic annual increase on January 1, 2024. Total stock-based compensation recorded as operating expense for the ESPP was $ 58.0 thousand and nil for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, there were no shares of Common Stock issued under the ESPP. Valuation Assumptions The Company calculates the fair value of stock options and ESPP awards granted to employees and nonemployees using the Black-Scholes option pricing method. The Black-Scholes option pricing method requires the use of subjective assumptions. The following assumptions were used in the Black-Scholes option pricing model to estimate stock-based compensation on the date of grant for stock options: Three Months Ended Stock options: Expected dividend yield 0.00 % Expected volatility 72.00 % Risk-free interest rate 4.33 % Term of options (in years) 5.5 - 6.3 Employee Benefit Plan The Company maintains a defined contribution 401(k) plan available to eligible employees. Employee contributions are voluntary and are determined on an individual basis, limited to the maximum amount allowable under federal tax regulations. The Company made matching contributions to the 401(k) plan totaling $ 0.2 million and $ 0.1 million for the three months ended March 31, 2024 and 2023, respectively. Retainer Shares On February 13, 2023, the Company entered into a Stock Issuance Agreement (the “SIA”) with a law firm for the provision of legal services to the Company. Under the SIA, the Company issued 4,000,000 shares of Common Stock to the law firm (the “Retainer Shares”). The Retainer Shares are held by the law firm as collateral for the current and future outstanding legal fees due from the Company. At the option of the law firm, the Retainer Shares may be sold and the net proceeds may be applied against the outstanding legal fees. The Retainer Shares not applied against the outstanding legal fees due will be returned to the Company. As of March 31, 2024 , it was no t probable that any of the Retainer Shares would be applied against any outstanding legal fees.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Product Development Agreement In February 2013, Scilex Pharma became a party to a product development agreement (as amended, the “Product Development Agreement”) with Itochu and Oishi Koseido Co., Ltd. (“Oishi,” and together with Itochu, the “Developers”), pursuant to which the Developers will manufacture and supply lidocaine tape products, including ZTlido and SP-103 (the “Products”), for Scilex Pharma. The Developers initially developed and have intellectual property rights relating to the Products. Pursuant to the Product Development Agreement, Scilex Pharma acquired an exclusive right to develop and commercialize the Products worldwide except for Japan. The Developers are responsible for sourcing and supplying lidocaine for development and commercialization purposes. Pursuant to the Product Development Agreement, Scilex Pharma is required to make aggregate royalty payments between 25 % and 35 % to the Developers based on net profits. For the three months ended March 31, 2024 and 2023, Scilex Pharma made royalty payments in the amount of $ 2.4 million and $ 2.2 million , respectively. As of March 31, 2024 and December 31, 2023, Scilex Pharma had ending balances of accrued royalty payables of $ 2.3 million and $ 2.4 million , respectively. Total royalty expense recorded within cost of revenue was $ 2.3 million and $ 2.1 million for the three months ended March 31, 2024 and 2023, respectively. Ne t profits are defined as net sales, less cost of goods and marketing expenses. Net sales are defined as total gross sales of any Product, less all applicable deductions, to the extent accrued, paid or allowed in the ordinary course of business with respect to the sale of such Product, and to the extent that they are in accordance with GAAP. If Scilex Pharma were to sublicense the licensed technologies, the Developers will receive the same proportion of any sublicensing fees received therefrom. The Product Development Agreement will continue in full force and effect until October 2, 2028 , the date that is ten years from the date of the first commercial sale of ZTlido. The Product Development Agreement will renew automatically for subsequent successive one-year renewal periods unless Scilex Pharma or the Developers terminate it upon 6-month written notice. On February 16, 2017, Scilex Pharma entered into a Commercial Supply Agreement (as amended, the “Supply Agreement”) with the two Developers to provide commercial supply of ZTlido and SP-103 to Scilex Pharma. The Supply Agreement contains standard terms regarding term, termination, payment, product quality and supply. In addition, the agreement provides additional terms regarding the calculation and amount of marketing expenses that may be deducted from net sales for purposes of determining the amount of net profit under the Product Development Agreement. Litigation In the normal course of business, the Company may be named as a defendant in one or more lawsuits. Other than the following four lawsuits, the Company is not a party to any outstanding material litigation and management is not aware of any legal proceedings that, individually or in the aggregate, are deemed to be material to the Company’s financial condition or results of operations. From time to time the Company may become involved in various legal proceedings, including those that may arise in the ordinary course of business. Sanofi-Aventis U.S. LLC and Hisamitsu America, Inc. Litigation On February 23, 2021, the Company filed an action (the “Action”) in the U.S. District Court for the Northern District of California against Sanofi-Aventis U.S. LLC and Hisamitsu America, Inc., two manufacturers of over-the-counter (“OTC”) lidocaine patch products, alleging, among other things, false and deceptive advertising and unfair competition under the Lanham Act and California state laws by those companies regarding their respective OTC patch products (the “Sanofi-Aventis & Hisamitsu Litigation”). This lawsuit sought, among other relief, damages and an injunction enjoining the defendants from continuing to make false or misleading statements of fact about their respective OTC lidocaine patch products. The defendants filed motions to dismiss, which narrowed slightly the Company’s claims, but which motions the court largely rejected. Discovery was proceeding. On January 26 and February 2, 2024, Scilex Pharma entered into two separate settlement agreements and mutual releases with the two manufacturers that resolved the Action. The terms of those agreements are confidential. Former Employee Action On March 12, 2021, Scilex Pharma and Sorrento (the “Plaintiffs”) filed an action (the “Former Employee Action”) in the Delaware Court of Chancery against the former President of Scilex Pharma, Anthony Mack, and Virpax Pharmaceuticals, Inc. (“Virpax”, and together with Mr. Mack, the “Defendants”), a company founded and then headed by Mr. Mack, alleging, among other things, breach by Mr. Mack of a restrictive covenant agreement with Sorrento related to his sale of his Scilex Pharma stock to Sorrento, tortious interference with that agreement by Virpax, breach of Mr. Mack’s fiduciary duties to Scilex Pharma, aiding and abetting of that breach by Virpax, and misappropriation of Scilex Pharma’s trade secrets by Mr. Mack and Virpax. Such lawsuit sought, among other relief, damages and various forms of injunctive relief. The case was tried from September 12, 2022 to September 14, 2022. On September 1, 2023, the court found in favor of the Plaintiffs on all but three counts deemed to have been waived. In its 95-page opinion, the court instructed the parties to submit supplemental briefing on the appropriate remedy to implement its rulings. On October 18, 2023, the Plaintiffs submitted a supplemental brief on remedies. On November 29, 2023, Defendants submitted a supplemental brief on remedies. On December 21, 2023, the Plaintiffs submitted a supplemental reply brief on remedies. On February 26, 2024, the Company and Virpax entered into a term sheet regarding a mutual release and settlement agreement, pursuant to which the parties have agreed to resolve the ongoing disputes. On February 29, 2024, the Company and Virpax entered into a definitive settlement agreement, which provides for, among other things, that Virpax would be obligated to make the following payments to the Company to settle the Former Employee Action: (i) $ 3.5 million (the “Initial Payment”) by two business days after the Effective Date (as defined therein), which payment has been made; (ii) $ 2.5 million by July 1, 2024 and (iii) to the extent any of the following drug candidates are ever sold, royalty payments of (a) 6 % of annual Net Sales (as defined therein) of Epoladerm, (b) 6 % of annual Net Sales of Probudur and (c) 6 % of annual Net Sales of Envelta during the Royalty Term (as defined therein). The Company and Virpax provided mutual releases of all claims that existed as of the Effective Date, whether known or unknown, arising from any allegations set forth in the Former Employee Action. Plaintiffs’ release relates to claims against Virpax only, which does not affect its claims against Mr. Mack. Plaintiffs have not released Mr. Mack, and litigation against him remains ongoing. As of March 31, 2024 , the Company fully reserved the $ 2.5 million receivable to be paid by Virpax by July 1, 2024, as the collectability of this receivable was deemed uncertain. ZTlido Patent Litigation On June 22, 2022, the Company filed a complaint against Aveva Drug Delivery Systems, Inc. (“Aveva”), Apotex Corp., and Apotex, Inc. (together, “Apotex”) in the U.S. District Court for the Southern District of Florida (the “ZTlido Patent Litigation”) alleging infringement of certain Orange Book listed patents covering ZTlido (the “ZTlido Patents”). The ZTlido Patent Litigation was initiated following the submission by Apotex, in accordance with the procedures set out in the Hatch-Waxman Act, of an abbreviated new drug application (“ANDA”). Apotex’s ANDA seeks approval to market a generic version of ZTlido prior to the expiration of the ZTlido Patents and alleges that the ZTlido Patents are invalid, unenforceable, and/or not infringed. The Company is seeking, among other relief, an order that the effective date of any FDA approval of Apotex’s ANDA be no earlier than the expiration of the asserted patents listed in the Orange Book, the latest of which expires on May 10, 2031, and such further and other relief as the court may deem appropriate. Apotex is subject to a 30-month stay preventing it from selling a generic version of ZTlido during that time. The stay should expire no earlier than November 11, 2024. The two Apotex entities were recently dismissed from the litigation without prejudice, as they no longer have an interest in the generic product that Aveva seeks to market. Trial in the ZTlido Patent Litigation has been scheduled for July 8, 2024. The Company cannot make any predictions about the final outcome of this matter or the timing thereof. GLOPERBA Patent Litigation On November 6, 2023, Takeda Pharmaceuticals U.S.A., Inc. (“Takeda”) filed a complaint against the Company in the U.S. District Court for the District of Delaware (the “GLOPERBA Patent Litigation”) alleging that the Company’s filing with the FDA of an application for approval of a proposed revision to the product label for its Gloperba product infringed certain Orange Book listed patents covering Takeda’s colchicine product, Colcrys ® (the “Colcrys Patents”). Takeda sought an order that the effective date of any FDA approval of the Company’s labeling revision be no earlier than the expiration date of the asserted patents listed in the Orange Book, and such further and other relief as the court may deem appropriate. The Company had previously accrued $ 0.5 million with respect to the GLOPERBA Patent Litigation. On March 7, 2024, the Company entered into a Settlement Agreement (the “Settlement Agreement”) with Takeda to resolve the Action and entered into a license agreement with Takeda pursuant to which Takeda granted a non-exclusive license to the Company and its affiliates of certain patents owned by Takeda. The terms of those agreements are confidential. The Settlement Agreement was subject to review by the Federal Trade Commission and the U.S. Department of Justice, neither of which objected during the review period. After the expiration of the review period, the U.S. District Court for the District of Delaware entered a final consent judgment on May 3, 2024. Operating Leases The Company leases administrative and research and development facilities under various non-cancelable lease agreements. Facility leases generally provide for periodic rent increases and may include options to extend. As of March 31, 2024, the Company’s leases have remaining lease terms of approximately 0.4 to 3.5 years. Th e terms of the Company’s leases, ranging from 3 to 5 years, include extension options that were not reasonably certain to be exercised. Many of the Company’s leases are subject to variable lease payments. Variable lease payments are recognized in the period in which the obligations for those payments are incurred, are not included in the measurement of the right-of-use (“ROU ”) assets or lease liabilities, and are immaterial. Additionally, the Company subleases certain properties to third parties. Sublease income is recognized on a straight-line basis and is immaterial. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company calculates the associated lease liability and corresponding ROU asset upon lease commencement using a discount rate based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. As of March 31, 2024 , the Company has no finance leases . In April 2023, the Company modified the lease term for its principal executive offices located in Palo Alto, California. The modification extended the lease term for an additional three years, with the lease term expiring in September 2027. As a result of the modification, the Company recognized additional ROU assets and corresponding lease liabilities of $ 2.5 million . Lease expense was $ 0.3 million and $ 0.2 million for the three months ended March 31, 2024 and 2023, respectively. The lease expense included variable lease costs, sublease income and impairment, which were immaterial for the periods presented. Supplemental quantitative information related to leases includes the following: Three Months Ended March 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases (in thousands) $ ( 277 ) $ ( 216 ) Weighted average remaining lease term in years — operating leases 3.4 1.4 Weighted average discount rate — operating leases 11.0 % 11.8 % Approximate future minimum lease payments under operating leases were as follows (in thousands): Amount 2024 (Remainder of 2024) $ 426 2025 916 2026 944 2027 724 Total lease payments 3,010 Less imputed interest ( 211 ) Total lease liabilities 2,799 Less current portion of lease liability 731 Lease liability, net of current portion $ 2,068

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	12. Net Loss Per Share The following table sets forth the reconciliation of basic and diluted loss per share for the three months ended March 31, 2024 and 2023 (in thousands except share and per share data): Three Months Ended March 31, 2024 2023 Net loss for basic and diluted loss per share available to common stockholders $ ( 24,377 ) $ ( 30,753 ) Weighted average number of shares outstanding - basic 102,407 141,660 Effect of dilutive securities — — Weighted average number of shares and assumed conversions - diluted 102,407 141,660 Loss per share Basic and diluted $ ( 0.24 ) $ ( 0.22 ) Basic net income (loss) per share is computed by dividing net loss by the weighted average number of shares of Common Stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of Common Stock and, if dilutive, potential Common Stock outstanding during the period. Potential Common Stock consist of the incremental Common Stock issuable upon the exercise of stock options and warrants (using the treasury stock method or the reverse treasury stock method, as applicable). In the computation of net (loss) income per share, treasury shares are not included as part of the outstanding shares. In accordance with FASB ASC 260, Earnings Per Share, Penny Warrants are warrants that would be exercised for no or little consideration and therefore should be included in the calculation of weighted average shares outstanding for purposes of calculating basic and diluted net income (loss) per share. The Closing Penny Warrants become exercisable upon the passage of time and are included in basic and diluted net income (loss) per share from the closing date of September 21, 2023. The Subsequent Penny Warrants to purchase up to an aggregate of 8,500,000 shares of Common Stock are not vested as of the closing date of September 21, 2023 and the vesting is based on the passage of time, the Company’s repayment of the Oramed Note or the occurrence of the Management Sale Trigger Date (as defined therein). Therefore, these Subsequent Penny Warrants are included in the computation for diluted net income per share once all other exercise contingencies are removed except for the passage of time. The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: March 31, December 31, 2024 2023 Stock options 33,267,137 33,123,798 Public Warrants 6,854,309 6,854,309 Firm Warrants 5,882,353 — Retainer Shares 4,000,000 4,000,000 Private Warrants 3,613,383 3,613,383 Representative Warrants 470,588 — Shares Issuable pursuant to ESPP 107,831 29,806 Convertible Debentures — 546,921 Total 54,195,601 48,168,217

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events On April 23, 2024, the Company entered into a securities purchase agreement (the “RDO Purchase Agreement”) with the investor named therein, pursuant to which the Company agreed to sell and issue, in a registered direct offering (the “Registered Direct Offering”): (i) an aggregate of 15,000,000 shares of Common Stock (the “RDO Shares”), and (ii) common warrants to purchase up to 15,000,000 shares of Common Stock (the “RDO Warrants”). The offering price per RDO Share and accompanying RDO Warrant to purchase one share of Common Stock was $ 1.00 , for aggregate gross proceeds to the Company of $ 15,000,000 , before deducting the placement agent fees and other offering expenses. Subject to certain ownership limitations, the RDO Warrants are exercisable on the six-month anniversary from the date of issuance, will expire on the five-year anniversary of the date of issuance and have an exercise price of $ 1.10 per share. The exercise price of the RDO Warrants is subject to certain adjustments, including stock dividends, stock splits, combinations and reclassifications of the Common Stock. StockBlock Securities LLC and its affiliate, Rodman & Renshaw LLC, acted as exclusive placement agents (the “Placement Agents”) in connection with the Registered Direct Offering. As compensation for such placement agent services, the Company paid the Placement Agents an aggregate cash fee equal to 8.0 % of the gross proceeds actually received by the Company from the Registered Direct Offering. The Company also reimbursed the Placement Agents $ 100,000 for actual, reasonable and documented fees and expenses, inclusive of fees and expenses of legal counsel and out-of-pocket expenses and $ 15,950 for clearing expenses. The Company has also agreed to issue to the Placement Agents or their respective designees common warrants, substantially in the form of the RDO Warrants, to purchase up to 1,200,000 shares of Common Stock (the “Placement Agent Warrants”), representing up to 8.0 % of the total number of the RDO Shares issued in the Registered Direct Offering. The Placement Agent Warrants have an exercise price of $ 1.25 per share (which represents 125 % of the combined offering price per share of Common Stock and the RDO Warrant sold in the Registered Direct Offering), will become exercisable on the six-month anniversary of the date of issuance and expire five years from the commencement of sales in the Registered Direct Offering. The RDO Shares, the RDO Warrants, the Placement Agent Warrants and the shares of Common Stock issuable upon exercise of such warrants were offered and sold by the Company pursuant to the Shelf S-3 Registration Statement, a base prospectus dated January 11, 2024 and a prospectus supplement dated April 23, 2024. The Registered Direct Offering closed on April 25, 2024.

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, include all adjustments of a normal recurring nature necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations and cash flows. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as filed with the SEC on March 12, 2024 (the “Annual Report on Form 10-K”). The interim results for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any future periods.
Use of Estimates	Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of these unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Management believes that these estimates are reasonable; however, actual results may differ from these estimates.
Customer Concentration Risk	Customer Concentration Risk The Company had three customers during the three months ended March 31, 2024 , each of which individually generated 10 % or more of the Company’s total revenue. These customers accounted for 85 % of the Company’s revenue for the three months ended March 31, 2024, individually ranging from 24 % to 31 % . As of March 31, 2024, these customers represented 94 % of the Company’s outstanding accounts receivable, individually ranging between 25 % to 36 % . Additionally, during the three months ended March 31, 2024 and 2023, the Company purchased ZTlido inventory from its sole supplier, Itochu Chemical Frontier Corporation (“Itochu”). In November 2023 and February 2024, respectively, the Company started purchasing ELYXYB and GLOPERBA inventories from its sole suppliers, Contract Pharmaceuticals Ltd Canada (CPL) and Ferndale Laboratories, Inc., respectively. This exposes the Company to concentration of customer and supplier risk. The Company monitors the financial condition of its customers, limits its credit exposure by setting credit limits, and has not experienced any credit losses during the three months ended March 31, 2024 and 2023.
Significant Accounting Policies	Significant Accounting Policies There have been no significant changes to the accounting policies during the three months ended March 31, 2024 , as compared to the significant accounting policies described in Note 1 of the Notes to Consolidated Financial Statements in the Company’s audited consolidated financial statements included in the Annual Report on Form 10-K.
Fair Value of Financial Instruments	Fair Value Measurements Financial assets and liabilities are recorded at fair value on a recurring basis in the condensed consolidated balance sheets. The carrying values of Company’s financial assets and liabilities, including cash and cash equivalents, restricted cash, prepaid and other current assets, accounts payable and accrued expenses approximate to their fair value due to the short-term nature of these instruments. The valuation of the derivative warrant liability for Private Warrants, Firm Warrants and Representative Warrants (each as defined below) is outlined in Note 4, utilizing the Black-Scholes option pricing model. The Company has chosen the fair value option for the Convertible Debentures and the Oramed Note (each as defined below), with the valuation methodologies detailed in Note 7. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. Assets and liabilities recorded at fair value are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels are directly related to the amount of subjectivity with the inputs to the valuation of these assets or liabilities as follows: Level 1 - Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 - Inputs (other than quoted prices included in Level 1) that are either directly or indirectly observable inputs for similar assets or liabilities. These include quoted prices for identical or similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments that are readily convertible into cash without penalty and with original maturities of three months or less at the date of purchase to be cash equivalents. The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents are valued at cost, which approximate their fair value. Restricted cash for the periods presented consist of deposits placed in a segregated bank account as required under the terms of the Credit and Security Agreement, dated as of June 27, 2023, between Scilex Pharma and eCapital Healthcare Corp., which is discussed further in Note 7. Restricted cash is recorded as other long-term assets within the Company’s unaudited condensed consolidated balance sheet. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets that together reflect the same amounts shown in the unaudited condensed consolidated statements of cash flows (in thousands): March 31, December 31, Cash and cash equivalents $ 1,818 $ 3,921 Restricted cash 956 808 Total cash, cash equivalents, and restricted cash $ 2,774 $ 4,729
Convertible Debentures and Oramed Note	Convertible Debentures and the Oramed Note The Company has elected the fair value option to account for the Convertible Debentures (as defined in Note 2 “ Liquidity and Going Concern ” below) that were issued in March and April 2023, as discussed further in Note 7. The Company has also elected the fair value option to account for the Oramed Note (as defined in Note 4 “ Fair Value Measurements ” below). The Company recorded the Convertible Debentures and the Oramed Note at fair value upon issuance with changes in fair value recorded as change in fair value of debt and liability instruments in the unaudited condensed consolidated statements of operations, with the exception of changes in fair value due to instrument-specific credit risk, if any, which are recorded as a component of other comprehensive income. Interest expense related to these financial instruments is included in the changes in fair value. As a result of applying the fair value option, direct costs and fees related to the Convertible Debentures and the Oramed Note were expensed as incurred. As of March 31, 2024 and December 31, 2023, the weighted-average interest rates for the short-term loans, including the Convertible Debentures and the Oramed Note, were 13.83 % and 13.55 % , respectively.
Treasury Stock	Treasury Stock The Company uses the cost method to account for repurchases of its stock. In the computation of net (loss) income per share, treasury shares are not included as part of the outstanding shares.

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets that together reflect the same amounts shown in the unaudited condensed consolidated statements of cash flows (in thousands): March 31, December 31, Cash and cash equivalents $ 1,818 $ 3,921 Restricted cash 956 808 Total cash, cash equivalents, and restricted cash $ 2,774 $ 4,729

Summary of Significant Accounti

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of the reconciliation of basic and diluted loss per share	The following table sets forth the reconciliation of basic and diluted loss per share for the three months ended March 31, 2024 and 2023 (in thousands except share and per share data): Three Months Ended March 31, 2024 2023 Net loss for basic and diluted loss per share available to common stockholders $ ( 24,377 ) $ ( 30,753 ) Weighted average number of shares outstanding - basic 102,407 141,660 Effect of dilutive securities — — Weighted average number of shares and assumed conversions - diluted 102,407 141,660 Loss per share Basic and diluted $ ( 0.24 ) $ ( 0.22 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of fair value assets measured on a recurring basis	The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and the level of inputs used in such measurements (in thousands): March 31, 2024 Balance Quoted Prices Significant Significant Unobservable Inputs (Level 3) Liabilities Oramed Note $ 92,923 $ — $ — $ 92,923 Derivative liabilities 6,941 — — 6,941 Other long-term liabilities 182 — — 182 Total liabilities measured at fair value $ 100,046 $ — $ — $ 100,046 December 31, 2023 Balance Quoted Prices Significant Significant Liabilities Oramed Note $ 104,089 $ — $ — $ 104,089 Convertible Debentures 4,340 — — 4,340 Derivative liabilities 1,518 — — 1,518 Other long-term liabilities 179 — — 179 Total liabilities measured at fair value $ 110,126 $ — $ — $ 110,126
Schedule of the derivative liabilities measured at fair value using significant unobservable inputs Level 3	The following table includes a summary of the derivative liabilities measured at fair value during the three months ended March 31, 2024 (in thousands): Fair Value Ending Balance as of December 31, 2023 $ 1,518 Change in fair value measurement 457 Issuance of Firm Warrants and Representative Warrants as part of the Bought Deal Offering 4,966 Ending Balance as of March 31, 2024 $ 6,941
Schedule of quantitative information regarding Level 3 fair value measurements	Private Warrants March 31, December 31, 2024 2023 Equity value $ 1.59 $ 2.04 Exercise price $ 11.50 $ 11.50 Term, in years 3.61 3.86 Volatility 90.0 % 76.0 % Risk-free rate 4.30 % 3.90 % Dividend yield 0.0 % 0.0 % Call option value $ 0.39 $ 0.42 Firm Warrants March 31, 2024 Equity value $ 1.59 Exercise price $ 1.70 Term, in years 4.93 Volatility 64.0 % Risk-free rate 4.17 % Dividend yield 0.0 % Call option value $ 0.88 Representative Warrants March 31, 2024 Equity value $ 1.59 Exercise price $ 2.13 Term, in years 4.93 Volatility 68.0 % Risk-free rate 4.17 % Dividend yield 0.0 % Call option value $ 0.76

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and equipment	Property and equipment, net consists of the following (in thousands): March 31, December 31, 2024 2023 Construction in progress $ 689 $ 689 Furniture 5 5 Computers and equipment 9 36 Leasehold improvements 50 50 Property and equipment, gross 753 780 Less: Accumulated depreciation ( 35 ) ( 58 ) Property and equipment, net $ 718 $ 722
Accrued expenses Textblock	Accrued expenses consists of the following (in thousands): March 31, December 31, 2024 2023 Accrued professional service fees $ 4,477 $ 2,029 Accrued tax payable 1,432 1,452 Accrued research and development costs 1,216 1,546 Accrued sales and marketing costs 585 1,601 Accrued litigation expenses 500 500 Accrued others 354 280 Accrued expenses $ 8,564 $ 7,408

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of identifiable intangible assets	A summary of the Company’s identifiable intangible assets as of March 31, 2024 and December 31, 2023 is as follows (in thousands): March 31, 2024 Gross Carrying Amount Accumulated Amortization Intangibles, net Patent rights $ 32,630 $ 16,136 $ 16,494 Acquired technology 21,940 8,045 13,895 Acquired licenses 5,711 642 5,069 Assembled workforce 500 500 — Total intangible assets $ 60,781 $ 25,323 $ 35,458 December 31, 2023 Gross Carrying Amount Accumulated Amortization Intangibles, net Patent rights $ 32,630 $ 15,591 $ 17,039 Acquired technology 21,940 7,679 14,261 Acquired licenses 5,711 551 5,160 Assembled workforce 500 475 25 Total intangible assets $ 60,781 $ 24,296 $ 36,485
Estimated future amortization expense related to intangible assets	Estimated future amortization expense related to intangible assets as of March 31, 2024 is as follows (in thousands): Amount 2024 $ 3,004 2025 4,006 2026 4,006 2027 4,006 2028 4,006 Thereafter 16,430 Total $ 35,458

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Schedule of Long-Term Debt Instruments [Table]
Schdule of convertible debentures	The following table provides a summary of the changes in the balance and the estimated fair value of the Convertible Debentures (in thousands): March 31, 2024 Beginning Balance as of January 1, 2024 $ 4,340 Repayment of Convertible Debentures ( 4,375 ) Change in fair value of Convertible Debentures 35 Ending Balance as of March 31, 2024 $ -
Oramed Note
Schedule of Long-Term Debt Instruments [Table]
Schedule of The Oramed Note	The following table provides a summary of the changes in the balance and the estimated fair value of the Oramed Note (in thousands): March 31, 2024 Beginning Balance as of January 1, 2024 $ 104,089 Change in fair value of Oramed Note 3,834 Repayment of Oramed Note $ ( 15,000 ) Ending Balance as of March 31, 2024 $ 92,923

Stock Incentive and Employee _2

Stock Incentive and Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Options Outstanding Activity	The following table summarizes stock option activity during the three months ended March 31, 2024 (shares in thousands): Options Weighted-Average Exercise Price Weighted-Average Aggregate Intrinsic Value Outstanding as of December 31, 2023 33,124 $ 4.38 7.5 $ 7,459 Granted 228 $ 1.37 Exercised ( 34 ) $ 1.34 Forfeited/Cancelled ( 51 ) $ 4.61 Outstanding as of March 31, 2024 33,267 $ 4.36 7.2 $ 1,100 Exercisable as of March 31, 2024 20,174 $ 2.99 6.2 $ 612
Schedule of Stock Options Valuation Assumption Used	The following assumptions were used in the Black-Scholes option pricing model to estimate stock-based compensation on the date of grant for stock options: Three Months Ended Stock options: Expected dividend yield 0.00 % Expected volatility 72.00 % Risk-free interest rate 4.33 % Term of options (in years) 5.5 - 6.3

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Leases Supplemental Quantitative Information	Supplemental quantitative information related to leases includes the following: Three Months Ended March 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases (in thousands) $ ( 277 ) $ ( 216 ) Weighted average remaining lease term in years — operating leases 3.4 1.4 Weighted average discount rate — operating leases 11.0 % 11.8 %
Schedule of Lease Maturities of Lease Liabilities	Approximate future minimum lease payments under operating leases were as follows (in thousands): Amount 2024 (Remainder of 2024) $ 426 2025 916 2026 944 2027 724 Total lease payments 3,010 Less imputed interest ( 211 ) Total lease liabilities 2,799 Less current portion of lease liability 731 Lease liability, net of current portion $ 2,068

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of the reconciliation of basic and diluted loss per share	The following table sets forth the reconciliation of basic and diluted loss per share for the three months ended March 31, 2024 and 2023 (in thousands except share and per share data): Three Months Ended March 31, 2024 2023 Net loss for basic and diluted loss per share available to common stockholders $ ( 24,377 ) $ ( 30,753 ) Weighted average number of shares outstanding - basic 102,407 141,660 Effect of dilutive securities — — Weighted average number of shares and assumed conversions - diluted 102,407 141,660 Loss per share Basic and diluted $ ( 0.24 ) $ ( 0.22 )
Schedule of potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share	The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: March 31, December 31, 2024 2023 Stock options 33,267,137 33,123,798 Public Warrants 6,854,309 6,854,309 Firm Warrants 5,882,353 — Retainer Shares 4,000,000 4,000,000 Private Warrants 3,613,383 3,613,383 Representative Warrants 470,588 — Shares Issuable pursuant to ESPP 107,831 29,806 Convertible Debentures — 546,921 Total 54,195,601 48,168,217

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Description of Organization and Business Operations (Details) [Line Items]
Receivables	$ 3.2
Convertible Debt [Member]
Description of Organization and Business Operations (Details) [Line Items]
Debt, Weighted Average Interest Rate	13.83%		13.55%
Customer Concentration Risk [Member]
Description of Organization and Business Operations (Details) [Line Items]
Percentage of net revenue, sole distributor	10%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Three Customers [Member]
Description of Organization and Business Operations (Details) [Line Items]
Concentration risk, percentage	85%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Minimum [Member] | Three Customers [Member]
Description of Organization and Business Operations (Details) [Line Items]
Concentration risk, percentage	24%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Maximum [Member] | Three Customers [Member]
Description of Organization and Business Operations (Details) [Line Items]
Concentration risk, percentage	31%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Customers [Member]
Description of Organization and Business Operations (Details) [Line Items]
Concentration risk, percentage	94%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Minimum [Member] | Three Customers [Member]
Description of Organization and Business Operations (Details) [Line Items]
Concentration risk, percentage	25%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Maximum [Member] | Three Customers [Member]
Description of Organization and Business Operations (Details) [Line Items]
Concentration risk, percentage		36%

Organization and Principal Acti

Organization and Principal Activities - reconciliation of cash, cash equivalents and restricted cash reported (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 1,818	$ 3,921
Restricted cash	956	808
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Total	$ 2,774	$ 4,729	$ 5,069	$ 2,184

Liquidity and Going Concern (Ad

Liquidity and Going Concern (Additional Information) (Details) - USD ($)					3 Months Ended
	Jun. 27, 2023	Apr. 30, 2023	Mar. 21, 2023	Nov. 17, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 22, 2023
Liquidity and Going Concern [Line Items]
Shares issued, shares					250,000
Negative working capital					$ 215,000,000
Cash and cash equivalents					1,818,000		$ 3,921,000
Loss from operations					(19,478,000)	$ (25,473,000)
Net cash used in operating activities					9,400,000
Accumulated deficit					$ (514,622,000)		$ (490,245,000)
Offer and sell shares of Common Stock					166,189,835		160,084,250
Principal laon amount	$ 30,000,000
Principle amount of issued debt		$ 25,000,000
Outstanding balance of revolving facility					$ 16,300,000
Common stock, par value					$ 0.0001		$ 0.0001
Equity Purchase Agreement with Yorkville and B. Riley [Member]
Liquidity and Going Concern [Line Items]
Convertible Debenture principal Amount			$ 25,000,000
Convertible Debenture					$ 24,000,000
Principle amount of issued debt					25,000,000
A&R Yorkville Purchase Agreement
Liquidity and Going Concern [Line Items]
Proceeds from sale of common stock					$ 200,000
Offer and sell shares of Common Stock					632,431
Principle amount of issued debt		$ 15,000,000
Right to sell maximum number of common stock shares				$ 500,000,000	$ 500,000,000
Common stock, par value				$ 0.0001
A&R Yorkville Purchase Agreement | Common Stock [Member]
Liquidity and Going Concern [Line Items]
Shares issued, shares					250,000
ATM Sales Agreement [Member]
Liquidity and Going Concern [Line Items]
Proceeds from sale of common stock					$ 100,000
Offer and sell shares of Common Stock					92,295
Maximum [Member] | ATM Sales Agreement [Member] | Common Stock [Member]
Liquidity and Going Concern [Line Items]
Value Of Stock Sold For Termination Of Offering								$ 170,000,000
Common Stock Issuable Value								$ 170,000,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - Schedule of the calculation of basic and diluted net income per ordinary share - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Weighted average number of shares and assumed conversions - diluted	102,407	141,660
Loss per share - diluted	$ (0.24)	$ (0.22)

Acquisitions (Additional Inform

Acquisitions (Additional Information) (Details) - USD ($)			3 Months Ended	12 Months Ended
	Jun. 14, 2022	May 31, 2022	Mar. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Payment to acquire license			$ 0
Accrued Royalty Payables			48,500	$ 5,000
Patents [Member] | Sorrento [Member]
Business Acquisition [Line Items]
Payment upon the achievement of net sales		$ 20,000,000
Amount due for New Drug Application		$ 3,000,000
License Agreement
Business Acquisition [Line Items]
Development milestones payment was recognized under other long-term liabilities			200,000	200,000
License Agreement | Romeg License Agreement [Member]
Business Acquisition [Line Items]
Up-front license fee	$ 2,000,000
Payment upon the achievement of net sales	13,000,000
Payments for royalties	7,100,000
Intangible asset	5,700,000
Deferred consideration	$ 3,700,000
Contingent consideration, liability			$ 0	$ 0

Fair Value Measurements (Additi

Fair Value Measurements (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		12 Months Ended
	Apr. 30, 2023	Sep. 30, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Feb. 29, 2024
Subsidiary, Sale of Stock [Line Items]
Oramed note discount rate			0.1264%
Principle amount of issued debt	$ 25,000
Warrants outstanding			6,854,309		6,854,309
Loss on derivative liability			$ 457	$ 5,253
Common stock upon conversation of cash			$ 3,000
Discount rate of FDA			10.60%
Development Milestone Payment			$ 200		$ 200
Derivative warrant liability private warrants			6,900
Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Loss on derivative liability			500	$ 5,300
Price per share						$ 2.125
Oramed Note
Subsidiary, Sale of Stock [Line Items]
Estimated fair value			92,900
Principle amount of issued debt		$ 101,900
Change in fair value of debt and liability instruments			$ 3,800
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants outstanding			3,613,383
Firm Warrants[Member]
Subsidiary, Sale of Stock [Line Items]
Warrants outstanding			5,882,353
Representative Warrants Outstanding[Member]
Subsidiary, Sale of Stock [Line Items]
Warrants outstanding			470,588
Warrant Transfer Agreement [Member] | Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants outstanding			3,613,383		3,613,383
Price per share			$ 0.01

Fair Value Measurements (Detai

Fair Value Measurements (Details) - Schedule of fair value assets measured on a recurring basis - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets:
Cash and cash equivalents	$ 1,818	$ 3,921
Liabilities:
Oramed Note	$ 92,923	104,089
Convertible debenture		$ 4,340
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Derivative Liability, Noncurrent	Derivative Liability, Noncurrent
Derivative liabilities	$ 6,941	$ 1,518
Other long-term liabilities	182	179
Total liabilities measured at fair value	100,046	110,126
Level 1 [Member]
Liabilities:
Oramed Note	0
Convertible debenture		0
Derivative liabilities	0	0
Other long-term liabilities	0	0
Total liabilities measured at fair value	0	0
Level 2 [Member]
Liabilities:
Oramed Note	0
Convertible debenture		0
Derivative liabilities	0	0
Other long-term liabilities	0	0
Total liabilities measured at fair value	0	0
Level 3 [Member]
Liabilities:
Oramed Note	92,923	104,089
Convertible debenture		4,340
Derivative liabilities	6,941	1,518
Other long-term liabilities	182	179
Total liabilities measured at fair value	$ 100,046	$ 110,126

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule Of The Derivative Liabilities Measured at Fair Value $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Fair Value Disclosures [Abstract]
Fair value, beginning	$ 1,518
Fair value, ending	6,941
Level 3 [Member]
Fair Value Disclosures [Abstract]
Fair value, beginning	1,518
Change in fair value measurement	457
Issuance of Firm Warrants and Representative Warrants as part of the Bought Deal Offering	4,966
Fair value, ending	$ 6,941

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of The Inputs Used In Valuing The Derivative Warrant Liabilities - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Equity Value	$ 1.59	$ 2.04
Exercise price	$ 11.5	$ 11.5
Term (in years)	3 years 7 months 9 days	3 years 10 months 9 days
Volatility	90%	76%
Risk-free rate	4.30%	3.90%
Dividend yield	0%	0%
Call option value	$ 0.39	$ 0.42
Representative Warrants Outstanding[Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Equity Value	1.59
Exercise price	$ 2.13
Term (in years)	4 years 11 months 4 days
Volatility	68%
Risk-free rate	4.17%
Dividend yield	0%
Call option value	$ 0.76
Firm Warrants[Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Equity Value	1.59
Exercise price	$ 1.7
Term (in years)	4 years 11 months 4 days
Volatility	64%
Risk-free rate	4.17%
Dividend yield	0%
Call option value	$ 0.88

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 753	$ 780
Less: Accumulated depreciation	(35)	(58)
Property and equipment, net	718	722
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	689	689
Furniture [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5	5
Computers & equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9	36
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 50	$ 50

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Acrcued expenses - Details (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Accrued professional service fees	$ 4,477	$ 2,029
Accrued tax payable	1,432	1,452
Accrued research and development costs	1,216	1,546
Accrued sales and marketing costs	585	1,601
Accrued litigation expenses	500	500
Accrued others	354	280
Accrued expenses	$ 8,564	$ 7,408

Balance Sheet Components (Addit

Balance Sheet Components (Additional Information) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 4,000	$ 10,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 13,481		$ 13,481
Goodwill impairment charges	$ 0		$ 0
Weighted average remaining life for identifiable intangible assets	9 years 2 months 12 days
Amortization expense	$ 1,027	$ 1,027

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of identifiable intangible assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 60,781	$ 60,781
Accumulated amortization	25,323	24,296
Intangibles, net	35,458	36,485
Patent rights
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	32,630	32,630
Accumulated amortization	16,136	15,591
Intangibles, net	16,494	17,039
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	21,940	21,940
Accumulated amortization	8,045	7,679
Intangibles, net	13,895	14,261
Acquired licenses
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,711	5,711
Accumulated amortization	642	551
Intangibles, net	5,069	5,160
Assembled workforce
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	500	500
Accumulated amortization	500	475
Intangibles, net	$ 0	$ 25

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Estimated future amortization expense of intangible assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
As of March 31,2023
2024	$ 3,004
2025	4,006
2026	4,006
2027	4,006
2028	4,006
Thereafter	16,430
Total	$ 35,458	$ 36,485

Debt (Additional Information) (

Debt (Additional Information) (Details) - USD ($)						1 Months Ended	3 Months Ended
	Sep. 21, 2023	Jul. 01, 2023	Jun. 27, 2023	Apr. 30, 2023	Mar. 21, 2023	Sep. 30, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Oct. 11, 2023
Debt Instrument [Line Items]
Principle amount of issued debt				$ 25,000,000
Repayment of debt prinnciple installment							$ 15,000,000	$ 0
Debt Instrument Redemption							The Company had the right, but not the obligation, in its sole discretion, to redeem, upon five business days’ prior written notice to Yorkville (the “Redemption Notice”), all or any portion of the amounts outstanding under the Convertible Debentures; provided that the trading price of the Common Stock is less than the Conversion Price at the time of the Redemption Notice. The redemption amount shall be equal to the outstanding principal balance being redeemed by the Company, plus the redemption premium of 10% of the principal amount being redeemed, plus all accrued and unpaid interest in respect of such redeemed principal amount.
Common stock, shares issued							166,189,835		160,084,250
Maximum [Member]
Debt Instrument [Line Items]
Debt conversion price										$ 2
Minimum [Member]
Debt Instrument [Line Items]
Debt conversion price										$ 0.5
Oramed Note
Debt Instrument [Line Items]
Principle amount of issued debt						$ 101,900,000
Net cash proceeds for direct offering							$ 9,578,835,000
Estimated fair value							$ 92,900,000
Securities Purchase Agreement [Member]
Debt Instrument [Line Items]
Principle amount of issued debt					$ 25,000,000
Debt instrument, description							The Yorkville SPA provided that the Convertible Debentures would be issued and sold at a purchase price equal to 96% of the applicable principal amount in three tranches as follows: (i) $10.0 million upon the signing of the Yorkville SPA, which was funded on March 21, 2023, (ii) $7.5 million upon the filing of a registration statement on Form S-1 with the SEC to register the resale by Yorkville of any shares of Common Stock issuable upon conversion of the Convertible Debentures under the Securities Act of 1933, as amended (the “Securities Act”), which was funded on April 11, 2023 and (iii) $7.5 million at the time such registration statement is declared effective by the SEC, which was funded on April 20, 2023.
Debt instrument, interest rate					7%
Debt maturity date					Dec. 21, 2023		Mar. 15, 2024
Debt conversion price					$ 8
Debt Instrument Principal Amount, Percentage					5%
Debt payment terms							The Company had the option to repay either (i) in cash, with premium equal to 5% in respect of the principal amount of such payment, or (ii) by submitting a notice for an advance under the A&R Yorkville Purchase Agreement, or a series of advances thereunder, or any combination of (i) or (ii) as determined by the Company. In the case of (ii), the proceeds from the shares sold to Yorkville are applied against the outstanding amounts.
Convertible Debentures Issued Percent					96%
Redemption Premium							10%
Securities Purchase Agreement [Member] | First installment [Member]
Debt Instrument [Line Items]
Repayment of debt prinnciple installment	$ 5,000,000
Securities Purchase Agreement [Member] | Second Installment [Member]
Debt Instrument [Line Items]
Repayment of debt prinnciple installment	15,000,000
Securities Purchase Agreement [Member] | Third Installment [Member]
Debt Instrument [Line Items]
Repayment of debt prinnciple installment	20,000,000
Securities Purchase Agreement [Member] | Oramed Note
Debt Instrument [Line Items]
Principle amount of issued debt	101,900,000
Debt instrument, description							Interest under the Oramed Note accrues at a fluctuating per annum interest rate equal to the sum of (1) greater of (x) 4% and (y) Term SOFR (as defined in the Oramed Note) and (2) 8.5%, payable in-kind on a monthly basis. Pursuant to the Oramed Note, since the outstanding principal of the Oramed Note was not repaid in full on or prior to March 21, 2024, an exit fee of approximately $3.1 million has been earned with respect to the Oramed Note, which shall be due and payable on the date on which the outstanding principal amount of the Oramed Note is paid in full. Upon the occurrence and during the continuance of an event of default under the Oramed Note, holders of more than 50% of the aggregate unpaid principal amount of the Oramed Notes may elect to accrue interest at a default rate equal to the lesser of (i) Term SOFR plus 15% or (ii) the maximum rate permitted under applicable law. Voluntary prepayments made before the one-year anniversary of the closing date of the Scilex-Oramed SPA must include a make-whole amount equal to 50% of the additional interest that would accrue on the principal amount so prepaid from the date of such prepayment through and including the maturity date. If the Oramed Note is accelerated upon an event of default, repayment is required at a mandatory default rate of 125% of the principal amount (together with 100% of accrued and unpaid interest thereon and all other amounts due in respect of the Oramed Note). The Oramed Note contains mandatory prepayment provisions requiring use of 70% of net cash proceeds from any Cash Sweep Financing (as defined in the Oramed Note) or advances under the ELOCs (as defined in the Oramed Note) to prepay the outstanding principal after the earlier of April 1, 2024 or full repayment of Acceptable Indebtedness (as defined in the Oramed Note).
Estimated fair value							$ 92,900,000
Debt Repayment Exit Fee	$ 3,100,000
Debt instrument, interest rate	4%
Debt maturity date	Mar. 21, 2025
Debt instrument, owned, percentage	50%
Debt instrument, default interest rate	15%
Debt instrument, percentage of interest accrued on principal amount	50%
Debt repayment, percentage of mandatory default rate of principal amount	125%
Debt repayment, percentage of mandatory default rate of accrued and unpaid interest	100%
Percentage of usage of cash proceeds from cash sweep financing	70%
Securities Purchase Agreement [Member] | Oramed Note | Monthly Basis [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	8.50%
Securities Purchase Agreement [Member] | Oramed Note | First installment [Member]
Debt Instrument [Line Items]
Debt maturity date	Mar. 21, 2025
Securities Purchase Agreement [Member] | Oramed Note | Second Installment [Member]
Debt Instrument [Line Items]
Debt maturity date	Dec. 21, 2023
Securities Purchase Agreement [Member] | Oramed Note | Third Installment [Member]
Debt Instrument [Line Items]
Debt maturity date	Mar. 21, 2024
Securities Purchase Agreement [Member] | Oramed Note | Fourth Installment [Member]
Debt Instrument [Line Items]
Debt maturity date	Jun. 21, 2024
Securities Purchase Agreement [Member] | Oramed Note | Five Installment [Member]
Debt Instrument [Line Items]
Debt maturity date	Sep. 21, 2024
Securities Purchase Agreement [Member] | Oramed Note | Six Installment [Member]
Debt Instrument [Line Items]
Debt maturity date	Dec. 21, 2024
Tranche One | Securities Purchase Agreement [Member]
Debt Instrument [Line Items]
Principle amount of issued debt					$ 10,000,000
Tranche Two | Securities Purchase Agreement [Member]
Debt Instrument [Line Items]
Principle amount of issued debt					7,500,000
Tranche Three | Securities Purchase Agreement [Member]
Debt Instrument [Line Items]
Principle amount of issued debt					$ 7,500,000
A&R Yorkville Purchase Agreement
Debt Instrument [Line Items]
Principle amount of issued debt				15,000,000
Net cash proceeds				$ 14,400,000
Convertible Debentures Repaid							$ 4,400,000
Common Stock at a conversion price							$ 8
Outstanding debt instrument							$ 7,700,000
Change in fair value							35,000
Outstanding principal amount							$ 5,000,000
Common stock, shares issued							632,431
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principle amount of issued debt							$ 75,000,000
Termination fees							0.50%
Facility cap maximum			95%
Facility cap minimum			85%
Outstanding debt instrument			$ 250,000
Cash on hand							$ 1,000,000
Outstanding principal amount							$ 16,300,000
Accounts receivable revolving loan facility in an aggregate amount	$ 30,000,000		$ 30,000,000
Line Of Credit Facility Interest Rate		1.50%

Debt - Summary of borrowings of

Debt - Summary of borrowings of the scilex notes consisted (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Current portion	$ (92,923)	$ (108,429)

Debt - Summery of Outstanding C

Debt - Summery of Outstanding Convertible Debenture (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Convertible Debentures [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Convertible debentures, beginning period	$ 4,340
Repayment of Convertible Debentures	(4,375)
Change in fair value of Convertible debentures	35
Convertible debentures, ending period	0
Senior Notes [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Convertible debentures, beginning period	104,089
Repayment of Convertible Debentures	(15,000)
Change in fair value of Convertible debentures	3,834
Convertible debentures, ending period	$ 92,923

Junior DIP Facility and Sorre_2

Junior DIP Facility and Sorrento Share Purchase Agreement (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended
	Sep. 21, 2023	Jul. 05, 2023	Mar. 31, 2024	Feb. 29, 2024
Penny Warrants [Member]
Price per share	$ 0.01
Fair Value Of Warrants	$ 10.4
Warrants exercisable date			Mar. 14, 2025
Subsequent Penny Warrants 1 [Member]
Warrant vesting date			Mar. 19, 2024
Subsequent Penny Warrants 1 [Member] | Common Stock [Member]
Issue of warrants			2,125,000
Subsequent Penny Warrants 2 [Member]
Warrant vesting date			Jun. 17, 2024
Subsequent Penny Warrants 2 [Member] | Common Stock [Member]
Issue of warrants			2,125,000
Subsequent Penny Warrants 3 [Member]
Warrant vesting date			Sep. 15, 2024
Subsequent Penny Warrants 3 [Member] | Common Stock [Member]
Issue of warrants			2,125,000
Subsequent Penny Warrants 4 [Member]
Warrant vesting date			Dec. 14, 2024
Subsequent Penny Warrants 4 [Member] | Common Stock [Member]
Issue of warrants			2,125,000
Sorrento Stock Purchase Agreement | Common Stock [Member]
Shares Purchased Under Stock Purchase Agreement	60,068,585
Sorrento Stock Purchase Agreement | Preferred Stock [Member]
Shares Purchased Under Stock Purchase Agreement	29,057,097
Shares Purchased At Par Value Under Stock Purchase Agreement	$ 0.0001
Fair Value of stock repurchased	$ 52.6
Sorrento Stock Purchase Agreement | Private Warrants [Member]
Shares Purchased Under Stock Purchase Agreement	3,104,000
Sorrento Stock Purchase Agreement | Public Warrants [Member]
Shares Purchased Under Stock Purchase Agreement	1,386,617
Oramed Note
Legal fees and expenses	$ 12.3
Cash payment	$ 10
Oramed Note | Closing Penny Warrant [Member]
Issue of warrants				882,352
Oramed Note | Closing Penny Warrant [Member] | Common Stock [Member]
Issue of warrants	4,500,000
Price per share	$ 0.01
Oramed Note | Subsequent Penny Warrants [Member]
Transfer of warrants	4,000,000
Oramed Note | Subsequent Penny Warrants [Member] | Common Stock [Member]
Issue of warrants	8,500,000
Price per share	$ 0.01
Oramed Note | Penny Warrants [Member] | Common Stock [Member]
Number Of Share Outstanding	9.90%
Maximum [Member] | Subsequent Penny Warrants [Member]
Warrants exercisable date			Mar. 14, 2025
Minimum [Member] | Subsequent Penny Warrants [Member]
Warrants exercisable date			Dec. 14, 2024
Sorrento
Excise tax liability			$ 1.3
Sorrento | Junior DIP Facility
Initial principal amount		$ 20
Debt instrument, interest rate		12%
Exit fee		2%
Debt instrument, description		The Junior DIP Facility was to mature on the earliest of: (i) September 30, 2023; (ii) the effective date of any Chapter 11 plan of reorganization with respect to Sorrento; (iii) the consummation of any sale or other disposition of all or substantially all of the assets of Sorrento; (iv) the date of the acceleration of the DIP Loans and the termination of the DIP Commitments (as defined in the Junior DIP Loan Agreement) in accordance with the DIP Documents (as defined in the Junior DIP Loan Agreement); and (v) dismissal of the Chapter 11 Cases or conversion of the Chapter 11 Cases into cases under Chapter 7 of the Bankruptcy Code.

Shareholders' Equity (Additiona

Shareholders' Equity (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended
	Feb. 29, 2024	Dec. 12, 2023	Nov. 17, 2022	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023
Shareholders' Equity (Details) [Line Items]
Common stock, shares issued				166,189,835	160,084,250
Share price				$ 18
Warrants outstanding				6,854,309	6,854,309
Combined Price Paid Of Warrant	$ 1.564
Preferred stock, shares outstanding				29,057,097	29,057,097
Treasury Stock Common Shares Outstanding				60,068,585	60,068,585
Shares issued, shares				250,000
Common Stock Issued				$ 17	$ 16
Closing Penny Warrant [Member] | Senior Notes [Member]
Shareholders' Equity (Details) [Line Items]
Issue of Warrants to Purchase Shares	882,352
Preferred Stock Member
Shareholders' Equity (Details) [Line Items]
Preferred stock, shares outstanding				29,057,097	29,057,097
Rodman & Renshaw LLC [Member]
Shareholders' Equity (Details) [Line Items]
Public Offering Price	$ 1.7
Exercise Price Of Common Warrant	$ 1.7
Purchase Of Common Warrants	5,882,353
Common stock sold	5,882,353
A R Yorkville Purchase Agreement [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares issued				632,431
Purchase of stock, percentage						98%
Common stock sold				96,982
Proceeds from sale of common stock				$ 200
Right to sell maximum number of common stock shares			$ 500,000	$ 500,000
A R Yorkville Purchase Agreement [Member] | Common Stock [Member]
Shareholders' Equity (Details) [Line Items]
Shares issued, shares				250,000
B. Riley Purchase Agreement [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares issued				250,000
Purchase of stock, percentage				98%
Right to sell maximum number of common stock shares			$ 500,000
At-the-Market Sales Agreement [Member]
Shareholders' Equity (Details) [Line Items]
Number sale of common stock shares		170,000,000
Proceed s of sale of common shares percentage				3%
Common stock sold				92,295
Proceeds from sale of common stock				$ 100
Maximum [Member] | At-the-Market Sales Agreement [Member]
Shareholders' Equity (Details) [Line Items]
Number sale of common stock shares		170,000,000
Warrants [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares issued				5,882,353
Exercise price per share, warrants	$ 2.125
Common stock shares reserved for future issuance	470,588			470,588
Public Offering Price Combined	125%
Purchase Of Common Warrants	882,352
Warrants [Member] | Warrant Transfer Agreement [Member]
Shareholders' Equity (Details) [Line Items]
Exercise price per share, warrants				$ 0.01
Warrants outstanding				3,613,383	3,613,383
Public Warrants Purchase Common Stock[Member]
Shareholders' Equity (Details) [Line Items]
Exercise price per share, warrants				$ 11.5
Treasury Stock [Member]
Shareholders' Equity (Details) [Line Items]
Treasury Stock Common Shares Outstanding				60,068,585	60,068,585

Restatement of Previously Issue

Restatement of Previously Issued Financial Statements (Details) - Schedule of impact of these adjustments to the financial statement, as previously reported - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]
Warrant Liability	$ 6,941	$ 1,518
Total Liabilities	281,026	274,247
Common Stock Issued	17	16
Additional Paid-in Capital	415,341	407,813
Accumulated Deficit	(514,622)	(490,245)
Total Shareholders’ Equity (Deficit)	$ (189,786)	$ (172,938)

Stock Incentive and Employee _3

Stock Incentive and Employee Benefit Plans (Additional Information) (Details) - USD ($)			3 Months Ended
	Feb. 13, 2023	Oct. 17, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Jan. 17, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of option outstanding to purchase common stock			33,267		33,124
Options granted weighted-average grant date fair value			$ 0.89
Total intrinsic value of option exercise			$ 8,800
Stock-based compensation expenses			3,558,000	$ 3,720,000
Unrecognized compensation cost related to unvested stock option grants			38,000,000
Employee benefit plan contributions by employer			200,000	100,000
Stock issued for services, shares	4,000,000
Accrued legal fees			$ 0
Weighted average period over grant			2 years 9 months 18 days
2022 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of option outstanding to purchase common stock			33,267,137
Common stock shares reserved for future issuance			20,129,644
Stock-based compensation expenses			$ 3,600,000	3,700,000
2023 Inducement Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for grant						1,400,000
2022 Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock shares reserved for future issuance			2,875,759
Stock-based compensation expenses			$ 58,000	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Discount from Market Price, Purchase Date		85%
2022 Employee Stock Purchase Plan | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock shares reserved for future issuance			4,476,601

Stock Incentive and Employee _4

Stock Incentive and Employee Benefit Plans - Schedule of Stock Options Outstanding Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Options Outstanding, Beginning Balance	33,124
Options Outstanding, Granted	228
Options Outstanding, Exercised	(34)
Options Outstanding, Forfeited/Cancelled	(51)
Options Outstanding, Ending Balance	33,267	33,124
Options Outstanding, Exercisable	20,174
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 4.38
Weighted Average Exercise Price, Granted	1.37
Weighted Average Exercise Price, Exercised	1.34
Weighted Average Exercise Price, Forfeited/Cancelled	4.61
Weighted Average Exercise Price, Outstanding, Ending Balance	4.36	$ 4.38
Weighted Average Exercise Price, Exercisable	$ 2.99
Outstanding, Weighted-average Remaining Contractual Life, (in Years)	7 years 2 months 12 days	7 years 6 months
Exercisable, Weighted-average Remaining Contractual Life, (in Years)	6 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 1,100	$ 7,459
Aggregate Intrinsic Value, Exercisable	$ 612

Stock Incentive and Employee _5

Stock Incentive and Employee Benefit Plans - Schedule of Stock Options Valuation Assumption Used (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield	0%	0%
Expected volatility	90%	76%
Risk-free interest rate	4.30%	3.90%
Term of options (in years)	3 years 7 months 9 days	3 years 10 months 9 days
Black-Scholes Option Pricing Method [Member] | Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield	0%
Expected volatility	72%
Risk-free interest rate	4.33%
Black-Scholes Option Pricing Method [Member] | Minimum [Member] | Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Term of options (in years)	5 years 6 months
Black-Scholes Option Pricing Method [Member] | Maximum [Member] | Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Term of options (in years)	6 years 3 months 18 days

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Leases Supplemental Quantitative Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ (277)	$ (216)
Weighted average remaining lease term in years - operating leases	3 years 4 months 24 days	1 year 4 months 24 days
Weighted average discount rate - operating leases	11%	11.80%

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Lease Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2024 (Remainder of 2024)	$ 426
2025	916
2026	944
2027	724
Total lease payments	3,010
Less imputed interest	(211)
Total lease liabilities	2,799
Less current portion of lease liability	731	$ 759
Lease liability, net of current portion	$ 2,068

Commitments and Contingencies_3

Commitments and Contingencies (Additional Information) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2013	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Apr. 30, 2023
Commitments and Contingencies [Line Items]
Finance lease liabilities		$ 0
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]		Derivative Liability, Noncurrent
Lease Expense		$ 300	$ 200
Additional ROU assets		2,763		$ 2,943	$ 2,500
Corresponding lease liabilities		2,068		2,237	$ 2,500
Former Employee [Member]
Commitments and Contingencies [Line Items]
Agreement settlement payment		3,500
Former Employee One[Member]
Commitments and Contingencies [Line Items]
Agreement settlement payment		2,500
GLOPERBA [Member]
Commitments and Contingencies [Line Items]
Due From Related Party		$ 500
Epoladerm [Member]
Commitments and Contingencies [Line Items]
Percentage on net sale		6%
Probudur [Member]
Commitments and Contingencies [Line Items]
Percentage on net sale		6%
Envelta [Member]
Commitments and Contingencies [Line Items]
Percentage on net sale		6%
Virpax Pharmaceuticals [Member]
Commitments and Contingencies [Line Items]
Reserved Receivable, Amount		$ 2,500
Product Development Agreement [Member] | Developers [Member]
Commitments and Contingencies [Line Items]
Royalty expenses		2,300	2,100
Accrued royalty payables		2,300		$ 2,400
Agreement maturity date	Oct. 02, 2028
Agreement maturity renewal description	The Product Development Agreement will renew automatically for subsequent successive one-year renewal periods unless Scilex Pharma or the Developers terminate it upon 6-month written notice.
Product Development Agreement [Member] | Developers [Member] | Minimum [Member]
Commitments and Contingencies [Line Items]
Royalty payment percentage related to future years	25%
Product Development Agreement [Member] | Developers [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Royalty payment percentage related to future years	35%
Product Development Agreement [Member] | Scilex Pharma [Member]
Commitments and Contingencies [Line Items]
Royalty expenses		$ 2,400	$ 2,200
Non-cancelable Lease Agreements [Member] | Minimum [Member] | Research and Development Facilities [Member]
Commitments and Contingencies [Line Items]
Operating lease, remaining lease term		4 months 24 days
Operating lease, lease term		3 years
Non-cancelable Lease Agreements [Member] | Maximum [Member] | Research and Development Facilities [Member]
Commitments and Contingencies [Line Items]
Operating lease, remaining lease term		3 years 6 months
Operating lease, lease term		5 years

Net Loss Per Share (Additional

Net Loss Per Share (Additional Information) (Details) - shares	Mar. 31, 2024	Dec. 31, 2023	Sep. 21, 2023
Common stock, shares issued	166,189,835	160,084,250
Warrant [Member]
Common stock, shares issued			8,500,000

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of the reconciliation of basic and diluted loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net loss for basic and diluted loss per share available to common stockholders	$ (24,377)	$ (30,753)
Weighted average number of shares outstanding - basic	102,407	141,660
Effect of Dilutive Securities	0	0
Weighted average number of shares and assumed conversions - diluted	102,407	141,660
Loss per share - basic	$ (0.24)	$ (0.22)
Loss per share - diluted	$ (0.24)	$ (0.22)

Net Loss Per Share - potentiall

Net Loss Per Share - potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share (Details) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	54,195,601	48,168,217
Convertible Debentures
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	546,921
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	33,267,137	33,123,798
Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,854,309	6,854,309
Firm Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,882,353	0
Retainer Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,000,000	4,000,000
Private Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,613,383	3,613,383
Representative Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	470,588	0
Shares Issuable pursuant to ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	107,831	29,806

Subsequent Events (Additional I

Subsequent Events (Additional Information (Details) - USD ($)		3 Months Ended
	Apr. 23, 2024	Mar. 31, 2024
Subsequent Event [Line Items]
Aggregate Share Issued, Common Stock		250,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Clearing expenses	$ 15,950,000
Subsequent Event [Member] | Placement Agent Warrants [Member]
Subsequent Event [Line Items]
Legal fees and expenses	$ 100,000
Subsequent Event [Member] | Placement Agent Warrants [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Percent of total number of shares issued to agents in the Offering	8%
Subsequent Event [Member] | Registered Direct Offering [Member]
Subsequent Event [Line Items]
Exercise price of warrant	$ 1.1
Subsequent Event [Member] | Registered Direct Offering [Member] | Placement Agent Warrants [Member]
Subsequent Event [Line Items]
Exercise price of warrant	$ 1.25
Cash fee percentage of gross proceeds paid to placement agents	8%
Percent of combined offering exercise price per share	125%
Subsequent Event [Member] | Registered Direct Offering [Member] | Placement Agent Warrants [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Number of shares into which warrants converted	1,200,000
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Common Warrants [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Number of shares into which warrants converted	15,000,000
Offering price per share	$ 1
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Registered Direct Offering [Member]
Subsequent Event [Line Items]
Gross proceeds from offering	$ 15,000,000
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Registered Direct Offering [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Aggregate Share Issued, Common Stock	15,000,000