Business
SCYNEXIS Reports Third Quarter 2022 Financial Results and Provides Corporate Update
SCYNEXIS recently announced new strategic direction to refocus its resources on the clinical development of ibrexafungerp for severe, hospital-based
About this update from Scynexis, Inc.
[{"type":"text","content":"SCYNEXIS recently announced new strategic direction to refocus its resources on the clinical development of ibrexafungerp for severe, hospital-based indications.Ivor Macleod, a 30-year biopharma veteran, joined SCYNEXIS as Chief Financial Officer.Marco Taglietti, M.D., to retire as President and Chief Executive Officer of SCYNEXIS and step down from the Board of Directors on December 31, 2022. David Angulo, M.D., Chief Medical Officer of SCYNEXIS will become President and Chief Executive Officer and join the Board effective January 1, 2023.BREXAFEMME® (ibrexafungerp tablets) prescriptions continued to grow in Q3 2022, increasing 13% over Q2 2022, generating net revenues of $1.6 million in Q3 2022, compared to $1.3 million in Q2 2022. Coverage for BREXAFEMME increased to 130 million, or 70% of commercially insured lives, with the addition of a major national Pharmacy Benefit Manager.SCYNEXIS ended the third quarter with a cash, cash equivalents and short-term investment balance of $96.1 million and has a projected cash runway into Q2 2024.SCYNEXIS will host a conference call today, November 9, at 8:30 a.m. EST. JERSEY CITY, N.J., Nov. 09, 2022 (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 third quarter ended on September 30, 2022. “Recently we have taken important steps to strategically refocus the Company on the successful development of ibrexafungerp in hospital-based indications where there is an urgent unmet need in patients with life-threatening infections,” said Marco Taglietti, M.D., President and Chief Executive Officer of SCYNEXIS. “We believe there is great potential in this area. Separately, we are seeking a commercialization partner to maximize the value of BREXAFEMME in the U.S. We also look forward to the November 30, 2022, PDUFA date for BREXAFEMME, which, if approved, would make it the only antifungal for both the treatment of vulvovaginal candidiasis (VVC) and prevention of recurrent VVC.” BREXAFEMME Commercial Update BREXAFEMME achieved $1.6 million in net sales in Q3 2022. According to IQVIA data, there were 5,785 total prescriptions for BREXAFEMME written in Q3 2022, a 13 percent increase of total prescriptions over Q2 2022.BREXAFEMME wa...