Scienture Holdings, Inc.

Listed Company

SCNXCIK 0001382574NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$431.6K

Net Income

$-41.51M

Total Assets

—

Equity

—

Shares Out

40.63M

Op. Cash Flow

$-13.38M

Business

Scienture Holdings, Inc. is a specialty pharmaceutical company that develops and commercializes therapies targeting central nervous system (CNS) and cardiovascular (CVS) diseases. Its main product candidates include SCN-102 (ARBLITM, a losartan oral suspension), SCN-104 (a multi-dose dihydroergotamine injection pen), SCN-106 (a potential biosimilar to a thrombolytic agent), and SCN-107 (a long-acting bupivacaine injectable). The company operates through Scienture LLC’s research and development, regulatory and commercialization activities and relies on third-party contract manufacturers and partner relationships. It targets the U.S. market via wholesalers, specialty pharmacies, hospitals and intends to deploy a U.S. sales force and third-party logistics while exploring international collaborations.

Summary from filing dated 2025-03-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	431,609	136,643	1	10	10
Cost of sales	100,127	130,638	1	5	5
Gross profit	331,482	6,005	49,030	6	5
Wage and salary expense	2	2	626,547	4	4
Professional fees	2	1	875,136	466,735	1
Accounting and legal expense	2	2	2	829,751	697,825
Technology expense	97,261	416,311	100,280	993,185	899,705
General and administrative	8	7	1	2	2
Research and development	2	2	—	—	—
Impairment loss	26	—	—	—	—
Total operating expenses	43	15	4	8	10
Operating loss	−43	−15	−4	−3	−5
Change in fair value of warrant liability	909,020	−182,982	−148,420	825,544	—
Change in fair value of derivative liability	2	180,383	—	—	—
Impairment of investment	—	−3	—	—	—
Loss on conversion of note payable	−53,446	—	—	—	—
Loss on disposition of subsidiaries	−288,204	—	—	—	—
Interest income	302,702	135,337	4,198	20,989	—
Loss on disposal of asset	—	−374,968	−3	2,200	—
Interest expense	−4	−1	−1	—	—
Total non-operating expense	−916,300	−4	−4	512,527	−23,590
Net loss from continuing operations	−44	−19	−8	—	—
Benefit / (provision) for income taxes	2	534,396	—	—	—
Net loss from continuing operations, net of tax	−42	−18	−8	−2	—
Net income from discontinued operations, net of tax	—	27	−9	−2	—
Net (loss) income	−42	9	−18	−3	−5
Basic	−2.7	−5.41	−11.1	−3.48	—
Diluted	−2.7	−5.41	−11.1	−3.47	—
Basic	—	8.09	−12.25	−2.67	—
Diluted	—	7.47	−3.93	−2.66	—
Basic (per share)	−2.7	2.69	−23.35	−6.15	—
Diluted (per share)	−2.7	2.48	−23.35	−6.13	−0.65
Basic (shares)	15	3	764,058	564,862	8
Diluted (shares)	15	4	2	566,609	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-01-31
Cash and cash equivalents	7	308,096	—	—	—
Accounts receivable, net	731,328	11,106	—	629,921	—
Inventory	213,408	—	968	65,523	—
Prepaid expenses	262,278	4,560	50,724	104,461	—
Other receivables	—	4	1	—	—
Deferred offering costs	47,384	534,800	—	—	—
Current assets of discontinued operations	—	8,145	176,355	198,324	—
Total current assets	8	6	3	2	—
Property, plant and equipment, net	15,500	17,500	7,500	65,214	—
Deposits	—	22,039	10,531	49,029	—
Notes receivable	5	—	—	—	—
Interest receivable	250,000	—	—	—	—
Intangible assets, net	71	76	—	—	—
Goodwill	—	21	—	—	—
Operating lease right-of-use assets	23,360	201,433	191,216	1	642,887
Deferred tax asset	—	534,396	—	—	—
Total assets	84	105	13	4	—
Accounts payable	1	3	1	527,984	—
Accrued liabilities	657,034	1	160,214	271,230	—
Other current liabilities	—	5,441	67,831	67,517	—
Loan payable, related party	—	415,000	—	—	—
Convertible note, net of debt discount - current portion	—	2	—	—	—
Operating lease liability - current	24,137	63,334	32,595	196,872	—
Warrant liability	10,914	919,935	736,953	588,533	—
Development agreement liability - current portion	600,000	—	—	—	—
Current liabilities of discontinued operations	—	5,346	8	219,952	—
Total current liabilities	3	8	12	2	—
Convertible notes, net of debt discount	—	612,275	—	—	—
Derivative liability	—	2	—	—	—
Operating lease liability - net of current portion	—	156,469	176,909	887,035	—
Development agreement liability	285,000	1	—	—	—
Deferred tax liability	11	14	—	—	—
Total liabilities	14	26	12	3	—
Commitments and contingencies (Note 15)	—	—	—	—	—
Common stock, $0.00001 par value; 100,000,000 shares authorized; 40,630,815 and 8,750,582 shares issued and outstanding as of December 31, 2025 and 2024, respectively 1,015,000 and 0 shares unvested as of December 31, 2025 and 2024, respectively	406	87	9	6	—
Additional paid-in capital	151	118	34	20	—
Accumulated deficit	−81	−39	−33	−20	—
Total stockholders equity	70	79	542,353	763,136	—
Total liabilities and stockholders equity	84	105	13	4	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	2,000	2,000	19,375	13,486	7,351
Amortization of intangible assets	453,846	—	814,790	—	—
Change in fair value of warrant liability	−909,020	182,982	148,420	—	21,640
Loss on disposition of subsidiaries	214,486	—	—	—	—
Stock-based compensation	2	25,584	—	—	—
Common stock issued for services	4	5	257,772	254,106	181,163
Goodwill impairment	26	—	5	—	—
Amortization of debt discount	3	912,447	—	—	—
Amortization of right-of-use assets	35,935	51,361	215,665	181,218	131,558
Interest income	−250,000	—	—	—	—
Accounts receivable, net	−720,222	−11,106	−293,784	369,932	−789,587
Prepaid expenses and deposits	−193,023	34,656	38,367	335,066	−103,666
Inventory	−213,408	968	4	−51,737	825,127
Other receivables	−80,469	−3	−254,924	−875,250	1
Lease liability	−36,979	−51,587	−228,470	−164,618	−131,153
Accounts payable	−2	448,572	2	199,833	220,199
Accrued liabilities	−248,574	−44,616	58,692	−211,694	−13,819
Current liabilities	−5,441	−62,390	2,794	—	—
Net cash used in operating activities from continuing operations	−13	−13	4	−199,020	—
Net cash provided by (used in) operating activities from discontinued operations	2,799	−979,075	−6	−1	—
Net cash used in operating activities	−13	−14	−2	−2	−3
Cash received in acquisition	—	132,976	—	—	—
Acquisition of property and equipment	—	−12,000	—	—	−22,596
Investment in securities	—	−3	—	—	—
Net cash used in investing activities from continuing operations	—	−2	−344,454	749	—
Net cash provided by investing activities from discontinued operations	—	30	68,737	−428,594	—
Net cash provided by investing activities	—	28	−275,717	−427,845	−22,596
Repayment of contingent liability	—	−1	−1	−716,964	—
Proceeds from loan payable, related party	116,000	150,000	—	—	—
Repayment of loan payable, related party	−531,000	—	—	—	−225,000
Proceeds from issuance of convertible notes, net of issuance costs	—	3	—	—	—
Proceeds from convertible notes	4	—	—	—	—
Repayment of convertible notes	−9	—	—	—	—
Gross proceeds from issuance of common stock	26	—	—	130,918	—
Repayment of development liability	−400,000	—	—	—	—
Cash dividends paid	—	−15	—	—	—
Proceeds from exercise of warrants	—	16,567	1,622	875	15,001
Proceeds from exercise of options	—	9,840	—	—	1,821
Net cash provided by (used in) financing activities from continuing operations	20	−13	2	239,829	—
Net cash used in financing activities from discontinued operations	—	−5,000	−500,000	−275,000	—
Net cash provided by (used in) financing activities	20	−13	1	−35,171	−208,178
Net change in cash	6	307,782	−1	−2	−3
Cash paid for interest	—	—	733,694	336,206	28,337
Cash paid for taxes	—	—	—	—	—
Conversion of note payable into common stock	411,000	—	—	—	—
Equity line of commitment shares issued as offering costs	2	534,800	—	—	—
Issuance of note receivable in exchange for other receivables	5	—	—	—	—
Issuance of shares pursuant to Merger	—	79	—	—	—
Assets acquired in connection with Merger	—	194,554	—	—	—
Liabilities assumed in connection with Merger	—	6	—	—	—
Insurance premium financed	—	198,245	306,152	220,354	—
Issuance of common shares in connection with converible debenture	—	420,200	—	—	—
Deferred offering costs	—	69,444	—	—	—
Derivative liability recognized in connection with issuance of convertible note	—	2	—	—	—
Warrants issued with convertible note	—	71,332	—	—	—
Common stock issued for convertible note settlement	189,673	—	—	—	—
Common stock issued for convertible note extension	175,250	—	—	—	—
Accretion of original issue discount on Treasury Bills	20,625	—	—	—	—

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