SCYNEXIS Reports Second Quarter 2025 Financial Results and Provides Corporate Update

About this update from Scynexis, Inc.

JERSEY CITY, N.J., Aug. 13, 2025 (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, 2025. “We are excited about the continued progress of our second-generation fungerp candidate, SCY-247, and we anticipate announcing SAD/MAD data from our ongoing Phase 1 study of oral SCY-247 this quarter,” said David Angulo, M.D., President and Chief Executive Officer. “We also continue to work towards resolving our dispute with GSK as it relates to the payment of the milestones associated with the restart and continuation of the MARIO study. As these discussions continue, GSK has emphasised that it remains committed to the commercialization of Brexafemme in vulvovaginal candidiasis. Per GSK’s request, we have initiated transfer of the New Drug Application for Brexafemme to them which will enable GSK to initiate regulatory interactions to discuss the relaunch of the product.” Ibrexafungerp / GSK Developments SCY-247 Development Program Corporate Updates Second Quarter 2025 Financial Results For the three months ended June 30, 2025 and 2024, revenue primarily consisted of $1.4 million and $0.7 million, respectively, in license agreement revenue associated with the GSK License Agreement. Research and development expenses for the three months ended June 30, 2025, was $7.1 million compared to $6.8 million for the same period in 2024. The increase of $0.3 million, or 5%, for the three months ended June 30, 2025, was primarily driven by an increase of $0.3 million in chemistry, manufacturing, and controls (CMC) expense, an increase of $0.4 million in preclinical expense, and an increase of $0.2 million in clinical expense, offset in part by a decrease of $0.2 million in salary expense and a net decrease of $0.4 million in other research and development expense. Selling, general and administrative expenses for the three months ended June 30, 2025, increased to $3.8 million compared to $3.2 million for the three months ended June 30, 2024. The increase of $0.6 million, or 20%, for the three months ended June 30, 2025, was primarily driven by an increase of $0.4 million in professional fees. Total other income was $2.7 million for the three months ended June 30, 2025, versus total other expense of $5.2 million for the same period in 2024. The variance is mainly due to the fair value adjustment related to the warrant liabilities. For the three months ended June 30, 2025 and 2024, we recognized a gain of $2.2 million and a loss of $5.8 million, respectively, on the fair value adjustment for warrant liabilities primarily due to the changes in our stock price during the periods. Net loss for the three months ended June 30, 2025 was $6.9 million, or $(0.14) basic loss per share, compared to net loss of $14.5 million, or $(0.30) basic loss per share for the same period in 2024. Cash Balance Cash, cash equivalents and investments totaled $46.5 million on June 30, 2025, compared to $75.1 million on December 31, 2024. Based upon the company’s current operating plan, SCYNEXIS believes that its existing cash, cash equivalents and investments provide a cash runway into Q4 2026. About Triterpenoid Antifungals Triterpenoid antifungals (also known as “fungerps”) are a novel class of structurally distinct glucan synthase inhibitors that combine the well-established activity of glucan synthase inhibitors with the potential flexibility of having oral and intravenous (IV) formulations. They have demonstrated broad-spectrum antifungal activity against multidrug-resistant pathogens, including azole- and echinocandin-resistant strains. Ibrexafungerp is the first representative of this novel class of antifungal agents. Ibrexafungerp, formerly known as SCY-078, is currently approved in the U.S. for the treatment of vulvovaginal candidiasis and is in late-stage development for invasive candidiasis. The next generation fungerp, SCY-247, is currently in the late stages of a Phase 1 clinical study. About SCYNEXIS SCYNEXIS, Inc. (NASDAQ: SCYX) is a biotechnology company pioneering innovative medicines to help millions of patients worldwide overcome and prevent difficult-to-treat infections that are becoming increasingly drug-resistant. SCYNEXIS is developing the company’s proprietary antifungal platform “fungerps.” Ibrexafungerp, the first representative of this novel class, has been licensed to GSK. The U.S. Food and Drug Administration (FDA) approved BREXAFEMME® (ibrexafungerp tablets) in June 2021, for its first indication in vulvovaginal candidiasis (VVC), followed by a second indication in November 2022, for reduction in the incidence of recurrent VVC. Late-stage clinical investigation of ibrexafungerp for the treatment of life-threatening invasive fungal infections in hospitalized patients is ongoing. Additional antifungal assets from this novel class are currently in clinical, pre- clinical and discovery phases, including the compound SCY-247. For more information, visit  www.scynexis.com . Forward-Looking Statements Statements contained in this press release regarding expected future events or results are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding: SCYNEXIS’s expectation that it will have a cash runway into Q4 2026; the expectation to release single ascending and multiple ascending dose data from the SCY-247 Phase 1 study in Q3 2025; the plans and expectations regarding the MARIO study and outcome of discussions with GSK; and the clinical and commercial potential for SCY-247. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks inherent in regulatory and other costs in developing products. These and other risks are described more fully in SCYNEXIS' filings with the Securities and Exchange Commission, including without limitation, its most recent Annual Report on Form 10-K filed on March 12, 2025, including under the caption "Risk Factors." All forward-looking statements contained in this press release speak only as of the date on which they were made. SCYNEXIS undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. CONTACT :  Investor Relations Irina Koffler LifeSci Advisors Tel: 917-734-7387 [email protected]

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