Scilex Holding Company Generates Record Monthly Revenue In June 2023 And Provides Certain Preliminary Unaudited Financial Results For Gross And Net Sales For The One Month Ended June 2023, Quarter Ended June 2023, And Year-To-Date As Of June 2023, Based O

PALO ALTO, Calif., July 05, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (OTC: SRNEQ), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announces record revenue for the month of June 2023 and is providing certain preliminary unaudited financial results for the month ended June 30, 2023, quarter ended June 30, 2023, and year-to-date as of June 30, 2023, based on currently available information.

The Company estimates that:

• ZTlido gross sales for (i) June 2023 were in the range of $13.5 million to $14.5 million, compared to $7.4 million in June 2022, representing growth in the range of 82% to 96%; (ii) the quarter ended June 2023 were in the range of $37.5 million to $39.0 million, compared to $21.0 million for the quarter ended June 2022, representing growth in the range of 79% to 86%; and (iii) year-to-date June 2023 were in the range of $64.2 million to $67.3 million, compared to $39.4 million for year-to-date June 2022, representing growth in the range of 63% to 71%. Scilex is well positioned to continue its growth over the next several years.
  
• ZTlido net sales for (i) June 2023 were in the range of $4.0 million to $5.1 million, compared to $3.3 million in June 2022, representing growth in the range of 21% to 54%; (ii) the quarter ended June 2023 were in the range of $11.2 million to $13.6 million, compared to $7.9 million for the quarter ended June 2022, representing growth in the range of 42% to 72%; and (iii) year-to-date June 2023 were in the range of $20.5 million to $23.0 million, compared to $14.7 million for year-to-date June 2022, representing growth in the range of 39% to 56%.
  
• Total product gross sales for (i) June 2023 were in the range of $14.0 million to $15.0 million, compared to $7.4 million in June 2022, representing growth in the range of 89% to 103%; (ii) the quarter ended June 2023 were in the range of $39.0 million to $40.0 million, compared to $21.0 million for the quarter ended June 2022, representing growth in the range of 86% to 90%; and (iii) year-to-date June 2023 were in the range of $65.6 million to $69.0 million, compared to $39.4 million for year-to-date June 2022, representing growth in the range of 66% to 75%. Scilex believes the year-to-date gross sales will reflect in the range of $140 million to $150 million annualized run rate.