Scilex rises on plans for unit including spin off

Scilex Holding

16/10/2024 13:27

** Drugmaker Scilex Holding's  SCLX.O  shares rise 7.8% to
87 cents premarket
    ** Company says it will maximize value of its unit Scilex
Pharma, either by spinning off or listing its shares in markets
and on securities exchanges outside United States, including
Hong Kong
    ** SCLX says it could also conduct "strategic transaction"
for the unit
    ** The unit has three approved pain drugs in its portfolio,
and one that is under development
    ** "Management believes the potential value of Scilex Pharma
may exceed the current valuation of its parent company," company
says
    ** As of last close, stock down 60.4% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com))