SMNR

Semnur Pharmaceuticals, Inc.

BS score 52.8MEDIUMPHASE3 · mkt cap $1.84B · rev ttm $0

drug hypothesis

SP-102 modulates Unknown - not disclosed in filing to treat Lumbosacral Radicular Pain (chronic lower back/leg nerve pain).

moa:Unknown - not disclosed in filing. Trial measures plasma cortisol changes, suggesting potential HPA axis modulation, but mechanism not explicitly stated.

score breakdown

trial design73

base rate disconnect9

language red flags100

composite52.8

valuation analysis

market cap$1.84B

revenue ttm$0

phasePHASE3

historical base rate40%

disconnect ratio0.3x

lead trialNCT03372161

meta

cik0001913577

first discovered2026-04-09

last updated2026-04-10

statusACTIVE

llm model—

extracted at2026-04-10

trial design

Phase 2, single-arm, non-randomized, non-placebo-controlled study enrolling 19 patients with lumbosacral radicular pain. Primary endpoint is biomarker (plasma cortisol) rather than clinical pain score.

primary endpoint:Change in Plasma Cortisol Concentrations From Baseline at 12 Weeks

claimed differentiation

Not stated in provided data

language red flags

Primary endpoint measures plasma cortisol (biomarker) rather than clinical pain outcomes - unusual for a pain therapeutic
Small sample size (n=19) with non-randomized, non-placebo-controlled design limits interpretability
No target or mechanism of action disclosed in filing
No preclinical data cited
Phase 2 completed in 2019 but no subsequent trial progression data provided
Missing: competitive landscape, regulatory pathway details, intellectual property information