Semnur Pharmaceuticals is a clinical late-stage specialty pharmaceutical company focused on the development and commercialization of novel non-opioid pain therapies. Its lead product candidate, SP-102 (SEMDEXA), is a novel viscous gel formulation of dexamethasone sodium phosphate administered epidurally for the treatment of moderate-to-severe chronic lumbosacral radicular pain (sciatica). Founded in 2013 and co-founded by Jaisim Shah, Semnur was acquired by Scilex Holding Company in 2019 and operated as a majority-owned subsidiary before completing a business combination with Denali Capital Acquisition Corp. (Nasdaq: DECA) on September 22, 2025, taking Semnur public on the OTC Markets under the tickers SMNR and SMNRW. Scilex retains approximately 87.5% ownership post-merger.
Semnur Pharmaceuticals is publicly traded
This company is no longer available on our private secondary market. Shares can be traded publicly under its listed ticker.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2013
Employees
11–50
Total Funding
$20M
1 rounds
Total raised $20M across 1 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Private Placement (PIPE pre-de-SPAC)
Date
September 2025
Amount
$20M
Valuation
—
Henry Ji
Chief Executive Officer and President
Stephen Ma
Chief Operating Officer, Chief Financial Officer and Secretary
Dmitri Lissin
Chief Medical Officer and Senior Vice President
Suketu D. Desai
Chief Technical Officer and Senior Vice President
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Pacira BioSciences
Specialty pharma company focused on non-opioid pain management, marketer of EXPAREL (bupivacaine liposome).
Heron Therapeutics
Develops non-opioid postoperative pain treatments including ZYNRELEF (bupivacaine and meloxicam).
Vertex Pharmaceuticals
Developer of suzetrigine (JOURNAVX), a non-opioid sodium-channel blocker for acute pain.
Collegium Pharmaceutical
Specialty pharmaceutical company focused on responsible pain management products.
Trevena
Biopharmaceutical company developing novel medicines for patients with CNS disorders and acute pain.
Semnur Pharmaceuticals became a publicly traded company on September 22, 2025 through a business combination (SPAC merger) with Denali Capital Acquisition Corp. (Nasdaq: DECA). The transaction provided a pre-transaction equity value of $2.5 billion. Following the closing, Semnur's common stock and warrants began trading on the OTC Markets on September 23, 2025 under the tickers SMNR and SMNRW, respectively. Scilex Holding Company (Nasdaq: SCLX) retains approximately 87.5% ownership of Semnur post-merger.
Semnur Pharmaceuticals shares can be purchased through any standard brokerage account — including Fidelity, Charles Schwab, TD Ameritrade, and online platforms like Robinhood or E*TRADE. Search for the ticker to place an order.
Semnur Pharmaceuticals raised $20M across 1 disclosed funding rounds prior to its public listing.
Semnur Pharmaceuticals is headquartered in Palo Alto, California, United States.
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