Business
SCYNEXIS Reports Full Year 2023 Financial Results and Provides Corporate Update
SCY-247’s IND-enabling activities continue to advance with initiation of Phase I anticipated in the second half of 2024 Data analysis for the FURI study is
About this update from Scynexis, Inc.
[{"type":"text","content":"SCY-247’s IND-enabling activities continue to advance with initiation of Phase I anticipated in the second half of 2024 Data analysis for the FURI study is ongoing; top line data from the CARES study has been received and is positive and consistent with previously disclosed results from interim analyses The clinical study reports for FURI, CARES and NATURE in refractory invasive fungal infections are on target for delivery to GSK in the first half of 2024 which would trigger a $10 million development milestone payment to SCYNEXIS SCYNEXIS ended 2023 with cash, cash equivalents and investments of $98.0 million and projects a cash runway of more than two years JERSEY CITY, N.J., March 28, 2024 (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 year ended December 31, 2023. “SCYNEXIS had a year of significant progress in 2023, laying the foundation for future success by monetizing our first antifungal, BREXAFEMME®, and progressing the development of SCY-247, our next generation compound,” said David Angulo, M.D., President and Chief Executive Officer. “SCY-247 continues to demonstrate highly encouraging preclinical results, with potent activity against a broad range of fungal pathogens, including mucormycosis. We look forward to continuing IND-enabling activities, culminating in the initiation of the first Phase I clinical study later this year. We are working diligently toward the resumption of the MARIO Phase III study of ibrexafungerp in invasive candidiasis and, with our strong cash balance, we are well-positioned to continue advancing SCY-247 as the next potential weapon in the fight against deadly fungal infections.” SCY-247 Preclinical Development Program Phase I enabling development activities for SCY-247, the next generation fungerp from SCYNEXIS’ proprietary antifungal platform, continue to progress. A portion of these activities, including assessing the compound’s activity against Candida auris and Mucorales, are being supported by National Institute of Health (NIH) grants. Phase I initiation is anticipated in the second half of 2024. Ibrexafungerp Clinical and Regulatory Updates In March 2023, SCYNEXIS and GSK entered into an exclusive license agreemen...