02:09 PM EDT, 04/16/2024 (MT Newswires) -- Scilex Holding ( SCLX ) said Tuesday that Q1 net sales of ZTlido are expected to be between $12 million and $13 million, compared with $10.6 million in Q1 2023.

The company also said that it plans to reduce research and development costs and other administrative expenses and focus on its late-stage pipeline programs like SP-102.

Scilex ( SCLX ) shares fell 10% in recent trading.