Scilex Holding Company,(SCLX) a leading pharmaceutical com pany, has released preliminary unaudited financial results for the one month ended September 30, 2023, and year-to-date as of September 30, 2023. While these results have not been reviewed or audited by an independent auditor, they provide valuable insights into the company's financial performance. Scilex Holding Company reports substantial growth in both revenue and net income, particularly for its flagship product, ZTlido.
ZTlido Sales Surge, Year-to-Date Revenue Exceeds Expectations
Scilex Holding Company estimates that ZTlido gross sales for September 2023 were in the impressive range of $12.0 million to $13.0 million, marking a substantial increase from the previous year. Year-to-date through September 2023, ZTlido gross sales reached a remarkable range of $100.0 million to $102.0 million, compared to $64.8 million for the same period in 2022. This growth represents an astounding 54% to 57% increase, indicating strong demand and market success for the product. In 2022, ZTlido gross sales for the full year amounted to 96.0 million.
ZTlido net sales for September 2023 were estimated to be in the range of $3.5 million to $4.0 million, demonstrating a notable increase. Year-to-date through September 2023, ZTlido net sales reached an impressive range of $31.5 million to $33.7 million, compared to $26.1 million for the same period in 2022. This growth represents a substantial 21% to 29% increase, underlining the product's strong market performance. In 2022, ZTlido net sales for the full year amounted to 38.0 million.
Overall Product Sales Surge
Total product gross sales for September 2023 were estimated to be in the range of $12.5 million to $13.6 million, reflecting a substantial increase. Year-to-date through September 2023, total product gross sales reached a remarkable range of $102.5 million to $105.0 million, compared to $64.8 million for the same period in 2022. This growth represents an impressive 58% to 62% increase, indicating a robust overall performance for Scilex Holding Company's product portfolio.
Total product net sales for September 2023 were estimated to be in the range of $3.5 million to $4.1 million, showing significant improvement. Year-to-date through September 2023, total product net sales reached an impressive range of $31.5 million to $33.9 million, compared to $26.1 million for the same period in 2022. This growth represents a substantial 21% to 30% increase, demonstrating the company's overall success in generating revenue.
It's important to note that these preliminary financial results are subject to change as they have not undergone a full audit. However, the positive trends in revenue and net income are indicative of Scilex Holding Company's strong market position and growth potential.
In accordance with regulations, the information provided in this report shall not be deemed "filed" for legal purposes and is not subject to liability under relevant securities laws. It should not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such filings. Investors and stakeholders are encouraged to await the final audited results for a complete assessment of the company's financial performance.