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SCYNEXIS Reports Second Quarter 2024 Financial Results and Provides Corporate Update
Clinical study reports for the FURI, CARES and NATURE trials in refractory or resistant invasive fungal infections were delivered to GSK, triggering a $10
About this update from Scynexis, Inc.
[{"type":"text","content":"Clinical study reports for the FURI, CARES and NATURE trials in refractory or resistant invasive fungal infections were delivered to GSK, triggering a $10 million development milestone payment to SCYNEXIS which we expect to receive in Q3 2024. SCY-247’s IND-enabling activities continue to progress. Pre-clinical in vitro and in vivo studies, presented at several medical conferences, have shown potent and broad antifungal activity. Phase 1 study initiation is planned for Q4 2024. SCYNEXIS ended Q2 2024 with cash, cash equivalents and investments of $83.7 million, not including the recently earned $10 million development milestone, and projects a cash runway of more than two years. JERSEY CITY, N.J., Aug. 08, 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 second quarter ended June 30, 2024. “Successful completion of the FURI, CARES, and NATURE studies is an important achievement for the future development of ibrexafungerp for refractory or resistant invasive fungal infections,” said David Angulo, M.D., President and Chief Executive Officer. “Positive top-line results from the studies are consistent with previously disclosed results from interim analyses, and delivery of the final study reports to GSK triggered a $10 million milestone payment to SCYNEXIS. Work continues to reestablish the clinical supply chain of ibrexafungerp, and we look forward to restarting the Phase 3 MARIO study in invasive candidiasis. We are also continuing to make progress with SCY-247, our next generation fungerp. SCY-247 continues to yield robust preclinical results, highlighting its promising therapeutic potential against a broad range of invasive fungal pathogens. We plan to present these data at upcoming medical meetings, and a planned Phase 1 study is on track to begin in Q4 of 2024.” SCY-247 Preclinical Development Program Preclinical data from studies of SCY-247, the second generation fungerp from SCYNEXIS’ proprietary antifungal platform, are planned to be presented at multiple upcoming medical meetings, including the Mycoses Study Group Education & Research Consortium (MSGERC) Biennial Meeting in September 2024 and ID Week in October 2024. Phase I initiation continues to...