Scynexis Raises $37.2M, Adds $16M, Extends Cash Runway to Mid-2029
Scynexis raised $37.2M in a private placement and added $16M on April 1, ending Q1 with $72.4M cash to fund operations into mid-2029. The company acquired SCY-770 for ADPKD and targets a Phase 2 proof-of-concept in Q4 2026, with Phase 1 IV SCY-247 topline data due in Q3 2026.
1. Private Placement and Cash Position
Scynexis completed a private placement with net proceeds of approximately $37.2 million, receiving $24 million on March 31 and the remainder on April 1. With $72.4 million in cash, cash equivalents and investments at March 31, the additional April proceeds extend the company’s cash runway to mid-2029.
2. SCY-770 Acquisition and Development Plans
On March 31, Scynexis acquired PXL-770 (now SCY-770), a selective AMPK activator for autosomal dominant polycystic kidney disease. The company plans to initiate a Phase 2 proof-of-concept study in Q4 2026, with an early efficacy readout expected in the second half of 2027, and SCY-770 has received Orphan Drug Designation.
3. SCY-247 Clinical Progress
Scynexis has completed Phase 1 studies of oral SCY-247 and is accepting expanded access requests for patients with limited treatment options. Dosing of the first patient in the IV formulation Phase 1 study began recently, with topline data anticipated in Q3 2026, and the FDA has granted QIDP Fast Track and Orphan Drug Designations.
4. GSK Brexafemme Milestone Update
Under its collaboration with GSK, Scynexis is set to benefit from the relaunch of Brexafemme, with potential annual net sales milestones of up to $146 million once relaunch targets are met.