SCYNEXIS Q2: Cash Runway Into 2029, Phase 1 Data for Kidney Disease Drug Due Q3
SCYX sits 49% above its 52-week low of $3.53 on light trading volume (0.4× avg).
Summary
SCYNEXIS reported Q2 results with a strengthened balance sheet—$71.1M in cash, runway into 2029—and multiple near-term catalysts. The company swung to a profit due to a $14.2M warrant liability gain. The Phase 1 study of SCY-770, its AMPK activator for ADPKD, is underway with topline data expected this quarter; Phase 2 is on track for Q4. Dosing completed in the IV SCY-247 antifungal study, also with Q3 data readout. R&D spending dropped 46% to $3.9M. The GSK partnership for BREXAFEMME could yield up to $146M in annual milestones. With a $51M market cap, the cash position and upcoming data readouts materially de-risk the story.
At the time of this announcement, SCYX was trading at $5.27 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $51.2M. The 52-week trading range was $3.53 to $10.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.