Scilex Holding Company (NASDAQ: SCLX) is a small cap NASDAQ firm that is an innovative leader in non-opioid pain therapeutics. The company’s offerings could significantly aid in stopping the opioid crisis and create maximum shareholder growth!
Roughly 112,000 Americans died in 2023 from overdoses, and it is probable that a good number of those involved opioid use at some point to reduce physical pain of various types. The problem is so dire that Congress has approved $10.6 billion in discretionary spending to combat the epidemic. Scilex Holding Company (NASDAQ: SCLX) is fighting the opioid crisis and is committed to developing and commercializing innovative therapies that address significant unmet medical needs in chronic pain management. The company already has THREE commercialized products that are already FDA APPOVED and proven to improve patients’ lives. Not only that but the company has three promising products in development that could be getting FDA green lights eventually!Insiders are loading up on SCLX and it looks like it is for good reason.
PLUS, SCLX has been heavily shorted. Based off of Ortex.com, as of November 1st, 2024, the short interest for SCLX on the Nasdaq was at $12.2M in value with 12.71M shares shorted. There are 22.35M shares on loan. A short squeeze could be imminent! What is a short squeeze and why does it matter? This is a situation in which the price of a stock rises to such an extent that investors who have sold short, have to quickly purchase the stock in order to limit their losses. Zacks Small Cap Research is BULLish on the company and believes that “SCLX is poised to resume its move higher and that investors continue to underestimate the value of the treatments the company currently has and is developing.” Zacks SCR has a $5.50 price target on the stock!
