SCYNEXIS Reports Third Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - SCYNEXIS, Inc. reported significant achievements that position the company for growth, including positive data for its second-generation drug candidate SCY-247 and a resolution of a disagreement with GSK resulting in a one-time payment of $24.8 million [2][3][5] Financial Performance - For Q3 2025, SCYNEXIS reported revenue of $0.3 million, a decrease from $0.7 million in Q3 2024, primarily from license agreement revenue associated with GSK [8] - Research and development expenses decreased to $5.5 million in Q3 2025 from $8.1 million in Q3 2024, a reduction of 33% driven by various cost decreases [9] - Selling, general and administrative expenses increased to $3.3 million in Q3 2025 from $2.9 million in Q3 2024, an increase of 13% primarily due to higher professional fees [10] - The net loss for Q3 2025 was $8.6 million, or $(0.17) per share, compared to a net loss of $2.8 million, or $(0.06) per share in Q3 2024 [12][20] Cash Position - As of September 30, 2025, SCYNEXIS had cash, cash equivalents, and investments totaling $37.9 million, down from $75.1 million at the end of 2024 [13] - The company expects to receive a one-time payment of $24.8 million from GSK in Q4 2025, resulting in a cash runway of more than two years [5][13] Drug Development Updates - SCY-247, the second-generation triterpenoid antifungal, showed positive results in a Phase 1 SAD/MAD study, demonstrating good tolerability and achieving target exposures at lower doses than the first-generation drug [6][14] - The company plans to initiate a Phase 1 study with the intravenous formulation of SCY-247 in Q1 2026 and a Phase 2 study for invasive candidiasis, with proof-of-concept data expected in 2026 [6][7] Partnership with GSK - SCYNEXIS resolved a disagreement with GSK, leading to a one-time payment of $24.8 million and the termination of the Phase 3 MARIO study on invasive candidiasis [3][5] - GSK is committed to relaunching BREXAFEMME® (ibrexafungerp), with SCYNEXIS set to receive up to approximately $146 million in annual net sales milestones and low to mid-single-digit royalties [5][15]