Scilex Enters Crypto Market with $200M Bitcoin Deal

An announcement from Scilex Holding Company ( (SCLX) ) is now available.

On September 23, 2025, Scilex Holding Company announced the signing of a Securities Purchase Agreement with Biconomy PTE.LTD to exchange $200 million worth of common stock of its subsidiary, Semnur Pharmaceuticals, for Bitcoin. This transaction, which closed on September 25, 2025, marks Scilex’s strategic entry into the cryptocurrency market, with Biconomy providing professional services for crypto market strategies. This move is expected to impact Scilex’s operations by diversifying its financial strategies and potentially enhancing its market positioning.

The most recent analyst rating on (SCLX) stock is a Buy with a $770.00 price target. To see the full list of analyst forecasts on Scilex Holding Company stock, see the SCLX Stock Forecast page.

More about Scilex Holding Company

Scilex Holding 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, as well as neurodegenerative and cardiometabolic diseases. The company targets indications with high unmet needs and large market opportunities, offering non-opioid therapies to improve patient outcomes. Scilex’s commercial products include ZTlido®, ELYXYB®, and Gloperba®, and it is also developing product candidates like SP-102, SP-103, and SP-104.

Average Trading Volume: 233,494

Technical Sentiment Signal: Buy

Current Market Cap: $198.9M

For detailed information about SCLX stock, go to TipRanks’ Stock Analysis page.