Scynexis posts Q3 net loss on higher R&D costs
SCYX•Scynexis reported a third-quarter net loss of $8.46 million, with no revenue and operating expenses of $9.76 million. It had $63.2 million in cash and investments at quarter-end and expects its cash runway to extend into 2029.
1. Quarterly results
Scynexis reported a third-quarter net loss of $8.46 million, or $0.71 per basic share, as operating expenses rose to $9.76 million. The company reported no license agreement revenue, compared with $334,000 a year earlier; higher clinical expenses for SCY-770 and SCY-247 development drove the increase in research and development costs.
2. Pipeline and cash
The company secured a BARDA contract worth up to $214 million to advance SCY-247. Cash and investments totaled $63.2 million at quarter-end, and the company expects that funding to support operations into 2029. It expects to initiate a Phase 2 trial of SCY-770 in ADPKD in the fourth quarter of 2026; a Phase 2 study of SCY-247 in invasive candidiasis is planned for 2027, subject to regulatory agreement.
