SCYNEXIS Reports the Exercise of Warrants Totalling $21.1 Million
12/22/2021 - 08:30 AM
JERSEY CITY, N.J., Dec. 22, 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 the exercise of warrants to purchase 3.37 million shares of SCYNEXIS common stock for which SCYNEXIS accepted a reduced exercise price. Gross proceeds to SCYNEXIS are approximately $21.1 million . The exercised warrants were issued as Series 1 warrants in the Company’s December 2020 financing. The remaining outstanding Series 1 warrants expired unexercised on December 21, 2021.
"With several of our largest shareholders participating in this warrant exercise, we were able to add a substantial amount to our balance sheet,” said Marco Taglietti, M.D., President and Chief Executive Officer of SCYNEXIS. “This cash influx, combined with the additional $7.9 million we received in early December, further supports the commercialization of our first product, BREXAFEMME® (ibrexafungerp tablets), and our ongoing clinical development programs to treat life-threatening fungal infections in the hospital setting.”
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 scientists are developing the company’s lead asset, ibrexafungerp (formerly known as SCY-078), as a broad-spectrum, systemic antifungal for multiple fungal indications in both the community and hospital settings. SCYNEXIS has initiated the launch of its first commercial product in the U.S., BREXAFEMME ® (ibrexafungerp tablets). The U.S. Food and Drug Administration (FDA) approved BREXAFEMME on June 1, 2021. In addition, late-stage clinical investigation of ibrexafungerp for the prevention of recurrent Vulvovaginal Candidiasis (VVC) and the treatment of life-threatening invasive fungal infections in hospitalized patients is ongoing. For more information, visit www.scynexis.com .
CONTACT : Investor Relations ikoffler@lifesciadvisors.com
Media Relations ggasaatura@lifescicomms.com
SCYX Rankings
#3676 Ranked by Stock Gains
SCYX Stock Data
Industry
Pharmaceutical Preparation Manufacturing
Sector
Manufacturing
Tags
Health Technology, Pharmaceuticals: Other, Manufacturing, Pharmaceutical Preparation Manufacturing
Country
US
City
Jersey City
About SCYX
scynexis, inc. is a pharmaceutical company committed to the discovery, development and commercialization of novel anti-infectives to address significant unmet therapeutic needs. our scientists have extensive experience in the life sciences industry having, together and individually, been involved in the discovery and development of innovative medicines over a broad range of therapy areas. we are developing our lead product candidate, scy-078, a novel antifungal in phase 2, as a novel oral and intravenous drug for the treatment of serious and life-threatening invasive fungal infections in humans.
