Business
SCYNEXIS Reports First Quarter 2021 Financial Results and Provides Corporate Update
Secured non-dilutive funding of approximately $35 million thus far in 2021, including licensing payments from Hansoh Pharma, the first tranche from a term
About this update from Scynexis, Inc.
[{"type":"text","content":"Secured non-dilutive funding of approximately $35 million thus far in 2021, including licensing payments from Hansoh Pharma, the first tranche from a term loan agreement with Hercules and Silicon Valley Bank, and the monetization of the 2020 New Jersey NOLsAppointed Christine Coyne as Chief Commercial Officer to lead the launch of ibrexafungerp (Brexafemme®) for the treatment of vaginal yeast infections, following expected approval by June 1st Began dosing patients in a Phase 1 trial of the IV formulation of ibrexafungerpFurther strengthened balance sheet and projected cash runway into 2023 JERSEY CITY, N.J., May 17, 2021 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (NASDAQ: SCYX), a biotechnology company pioneering innovative medicines to overcome and prevent difficult-to-treat and drug-resistant infections, today reported financial results for the first quarter ended on March 31, 2021 and provided an update on recent clinical and corporate developments. “Our team is executing on all cylinders as we approach our June 1, 2021 PDUFA for Brexafemme,” said Marco Taglietti, M.D., President and Chief Executive Officer of SCYNEXIS. “So far this year, we have received a total of approximately $35 million in non-dilutive funding, which is adequate to support our Brexafemme U.S. launch in the second half of the year while further extending our cash runway into 2023. We are also advancing the development of ibrexafungerp in the hospital setting, including our new IV formulation currently in Phase 1. With ibrexafungerp poised to become the first new antifungal class approved in over 20 years, we believe that the approval of the VVC indication may represent just the first step in the larger build-out of our antifungal franchise.” Ibrexafungerp Update Remain on track for anticipated June 1st approval of ibrexafungerp for the treatment of VVC and commercial launch in the second half of 2021. SCYNEXIS is currently in discussions with the FDA to finalize its recommended wording for different sections of the drug’s Prescribing Information to provide adequate information to prescribers. Dosing is ongoing in Phase 1 testing of the liposomal IV formulation of ibrexafungerp. Based on promising pre-clinical data of our liposomal IV formulation of ibrexafungerp, SCYNEXIS is conducting a Phase 1, randomized, double-blind, placebo-controlled study to evaluate the...