SCYNEXIS Reports Third Quarter 2026 Financial Results and Provides Corporate Update
BARDA funding includes approximately $18.5 million initially, while SCYNEXIS expects its existing cash position to support operations into 2029.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
SCYNEXIS (SCYX) reported a third-quarter 2026 net loss of $8.458 million while advancing its kidney-disease and antifungal clinical programs. Net loss was $8.591 million a year earlier; loss per share narrowed to $0.71 from $1.38. Cash, cash equivalents and investments totaled $63.2 million, down from $71.1 million at June 30; the company expects funding to last into 2029.
A BARDA contract provides up to approximately $214 million for SCY-247 if all options are exercised, including approximately $18.5 million initially. Phase 1 studies of SCY-770 and intravenous SCY-247 were completed with favorable tolerability findings. SCYNEXIS plans a Phase 2 SCY-770 trial for inherited kidney disease in Q4 2026, with an anticipated interim analysis in Q4 2027. It expects Phase 2 development of oral and intravenous SCY-247 in 2027, subject to regulatory agreement.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major pointBARDA contract provides up to approximately $214 million in non-dilutive funding, including approximately $18.5 million initially. 5.6× market cap
- Moderate point. Forward-looking: it has not happened yet and may not happen.SCYNEXIS plans SCY-770 Phase 2 initiation in Q4 2026, with an anticipated interim analysis in Q4 2027.
- Moderate point. Forward-looking: it has not happened yet and may not happen.SCYNEXIS expects oral and intravenous SCY-247 Phase 2 development to begin in 2027.
- Moderate point. Forward-looking: it has not happened yet and may not happen.SCYNEXIS expects its $63.2 million cash, cash equivalents and investments to support operations into 2029.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Post-relaunch BREXAFEMME payments could include up to approximately $146 million in annual net sales milestones. 3.8× market cap
6 minor points
- Minor pointSCY-770 Phase 1 study in 25 healthy participants completed; treatment was well tolerated across all cohorts.
- Minor pointIntravenous SCY-247 Phase 1 completed in 56 healthy participants, with no drug-related serious adverse events.
- Minor pointSCY-247 once-daily intravenous doses of 50 mg or higher reached exposure targets identified in mouse models.
- Minor point. Forward-looking: it has not happened yet and may not happen.Post-relaunch BREXAFEMME payments could also include net royalties in the low to mid-single digit range.
- Minor pointQ3 net loss narrowed to $8.458 million from $8.591 million; loss per share narrowed to $0.71 from $1.38.
- Minor pointQ3 total other income reached $1.303 million, versus $186,000 in total other expense a year earlier.
Negative
- Major pointCommon shares outstanding increased to 9,952,738 at September 30, 2026, from 5,442,688 at December 31, 2025.
- Moderate pointCash, cash equivalents and investments fell to $63.2 million from $71.1 million at June 30, 2026.
- Moderate pointQ3 operating loss widened to $9.761 million from $8.405 million a year earlier.
- Minor pointBARDA funding beyond the initial base period depends on options being exercised.
- Minor point. Forward-looking: it has not happened yet and may not happen.BARDA contract requires cost sharing; SCYNEXIS expects its near-term share to fit within its existing operating plan.
5 minor points
- Minor pointSCY-247 Phase 2 initiation remains subject to regulatory agreement.
- Minor point. Forward-looking: it has not happened yet and may not happen.BREXAFEMME milestone and royalty opportunities depend on relaunch and subsequent net sales.
- Minor pointQ3 license agreement revenue fell to zero from $334,000 a year earlier.
- Minor pointQ3 research and development expenses rose to $6.199 million from $5.452 million a year earlier.
- Minor pointQ3 selling, general and administrative expenses rose to $3.562 million from $3.287 million a year earlier.
News Explained
SCYNEXIS reported 9,952,738 common shares outstanding on
Key Figures
- Potential BARDA funding
- Up to approximately $214 million
- SCY-247 contract, if all options are exercised
- Initial BARDA base period
- Approximately $18.5 million
- Funding to advance oral and IV SCY-247 into Phase 2
- Cash, cash equivalents and investments
- $63.2 million
- September 30, 2026; compared with $71.1 million on June 30, 2026
- Cash runway
- Into 2029
- Company expectation based on September 30, 2026 cash position
- Net loss
- $8,458 thousand
- Q3 2026; compared with $8,591 thousand in Q3 2025
- SCY-770 Phase 1 participants
- 25 healthy participants
- Study across three cohorts
- SCY-770 Phase 2 initiation
- Q4 2026
- Planned ADPKD proof-of-concept study
- SCY-770 interim analysis
- Q4 2027
- Anticipated analysis for the ADPKD Phase 2 study
Previous Earnings Reports
-
Initiated SCY-770 Phase 1 and maintained projected cash runway into 2029.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
adpkd medical
ampk medical
pharmacokinetic medical
orphan drug designation regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Completed Phase 1 study of SCY-770, a first-in-class, highly selective, oral direct AMPK activator for the treatment of ADPKD; Phase 2 proof-of-concept trial to initiate in Q4 2026
- Awarded BARDA contract providing up to approximately
$214 million in non-dilutive funding for the development of SCY-247, including approximately$18.5 million in the initial base period to advance oral and intravenous SCY-247 into a Phase 2 study in invasive candidiasis - Completed Phase 1 study of IV SCY-247; Phase 2 study with both oral and intravenous formulations planned for 2027
- Strengthened leadership team with the appointments of Sanjay Subramanian as Chief Financial Officer, and Todd Minga, M.D., as Senior Vice President, Research & Development
- Ended Q3 2026 with cash, cash equivalents and investments of
$63.2 million , which is expected to support the Company’s cash runway into 2029
JERSEY CITY, N.J., Nov. 05, 2026 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (NASDAQ: SCYX) (“SCYNEXIS” or the “Company”), a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases, today reported financial results for the third quarter ended September 30, 2026, and provided a corporate update highlighting the completion of a Phase 1 study of SCY-770 in support of its planned Phase 2 program in Autosomal Dominant Polycystic Kidney Disease (ADPKD), the award of a BARDA contract providing up to approximately
“We are working to advance SCY-770 into a Phase 2 proof-of-concept clinical trial by the end of this year. We believe that our highly selective and direct AMP-activated protein kinase (AMPK) activator has the potential to be a differentiated therapy for ADPKD, a serious progressive disease that affects about 140,000 people in the United States alone,” said David Angulo, M.D., President and Chief Executive Officer of SCYNEXIS. “In our Phase 1 study, SCY-770 was well tolerated at higher doses than previously evaluated, and the pharmacokinetic and safety data generated will support dose selection for planned Phase 2 trial. Our goal is to bring patients a new, well-tolerated oral treatment option for a disease with significant unmet need and limited therapeutic options.”
“While we remain focused on SCY-770, our recent partnership with BARDA enables us to advance SCY-247, a Phase 2-ready program, for the treatment and prevention of serious invasive fungal infections while leveraging our existing infrastructure and capabilities. With Phase 1 studies of both the intravenous and oral formulations of SCY-247 now complete, we are advancing preparation for the next stage of development and expect to initiate a Phase 2 study in 2027, subject to regulatory agreement. We have also strengthened our leadership team with the additions of Sanjay Subramanian as Chief Financial Officer, and Todd Minga as Senior Vice President of Research and Development. Their experience in capital markets, nephrology and drug development for chronic kidney disease will be invaluable as we execute across our pipeline. With a strong balance sheet and cash runway into 2029, we remain confident in our ability to deliver on our upcoming milestones for patients and shareholders alike,” continued Dr. Angulo.
SCY-770 Development Program Update
- On October 6, 2026, SCYNEXIS announced completion of a Phase 1 study of SCY-770, a first-in-class, selective and direct AMPK activator. The study enrolled 25 healthy participants across three cohorts: the initial cohort received a single 500 mg dose under fed and fasted conditions, and subsequent cohorts received 750 mg once daily or 500 mg twice daily, or placebo, for seven days. SCY-770 was well tolerated across all cohorts and demonstrated a safety profile consistent with prior clinical experience. Pharmacokinetic data from this and prior studies will inform dose selection for the Phase 2 study in ADPKD patients.
- SCYNEXIS remains on track to initiate its Phase 2 proof-of-concept study of SCY-770 in ADPKD patients in Q4 2026, with an anticipated interim analysis in Q4 2027.
SCY-247 Development Program Update
- On September 28, 2026, SCYNEXIS announced that it was awarded a BARDA contract providing up to approximately
$214 million in non-dilutive funding, if all options are exercised, to advance the development of SCY-247, with approximately$18.5 million in the initial base period to support advancement of oral and intravenous SCY-247 into a Phase 2 trial in patients with invasive candidiasis. The award is structured as a cost-share arrangement, and the Company expects to fund its share of near-term program costs for SCY-247 within its existing operating plan. - On October 22, 2026, SCYNEXIS announced topline results from its Phase 1 single and multiple ascending dose trial of intravenous (IV) SCY-247 in 56 healthy participants. IV SCY-247 was generally well tolerated, with no drug-related serious adverse events, and once-daily IV doses of 50 mg or higher achieved exposures at or above the efficacy target identified in murine models of invasive candidiasis.
- The Company expects to initiate Phase 2 development of SCY-247 in oral and IV formulations in 2027, subject to regulatory agreement.
Activities for this project may be funded in whole or in part with federal funds from the U.S. Department of Health and Human Services (HHS); Administration for Strategic Preparedness and Response (ASPR); Center for the Biomedical Advanced Research and Development Authority (BARDA), under contract number 75A50126C00007.
Ibrexafungerp / GSK Update
- The Company believes that GSK continues making progress toward the relaunch of BREXAFEMME. Following the relaunch, SCYNEXIS has the potential to receive up to approximately
$146 million in annual net sales milestones as well as net royalties in the low to mid-single digit range.
Leadership and Board Updates
- Sanjay S. Subramanian, MBA, was appointed Chief Financial Officer, effective September 9, 2026. Mr. Subramanian brings more than 20 years of finance, capital markets, business development and operational leadership experience across the biotechnology, pharmaceutical and healthcare sectors, most recently as Chief Financial Officer and Head of Business Development at Inozyme Pharma. He succeeds Ivor Macleod, who retired from the role effective September 9, 2026 and remained with the Company through October 9, 2026 to support the transition.
- Todd Minga, M.D., was appointed Senior Vice President, Research & Development, effective September 14, 2026. A board-certified nephrologist, Dr. Minga brings more than two decades of clinical development and research experience in kidney disease, including rare kidney diseases, as well as extensive clinical practice experience. Most recently, he served as Vice President, Medical Affairs and Clinical Development at Akebia Therapeutics.
- Steven K. Burke, M.D., was appointed to the Board of Directors, effective September 18, 2026, and serves on the Nominating and Corporate Governance Committee. Dr. Burke brings more than 30 years of industry experience with a focus on drug development for chronic kidney disease, most recently in his role as Senior Vice President, Chief Research and Development Officer and Chief Medical Officer at Akebia Therapeutics. He previously founded Abfero Pharmaceuticals and served as Senior Vice President and Chief Medical Officer of Proteon Therapeutics.
Third Quarter 2026 Financial Results
Research and development expenses for the three months ended September 30, 2026, were
SG&A expenses for the three months ended September 30, 2026, increased to
Total other income was
Cash Balance
Cash, cash equivalents and investments totaled
About ADPKD
Autosomal Dominant Polycystic Kidney Disease (ADPKD) is a genetic disease caused by mutations of the PKD1 or PKD2 genes which encode polycystin complex 1 (PC1) or polycystin complex 2 (PC2) proteins, critical for normal tubular epithelial cell function. Patients develop fluid-filled cysts in their kidneys that progressively impair kidney function, with more than
About SCY-770
SCY-770 is a novel, highly selective, oral direct activator of adenosine monophosphate-activated protein kinase (AMPK) being developed as a potential disease-modifying therapy for autosomal dominant polycystic kidney disease (ADPKD), a progressive genetic disorder characterized by significant unmet medical need. By activating AMPK, SCY-770 targets multiple pathways implicated in disease progression, including mTOR and cAMP signaling, which are known to drive cyst growth and fluid secretion. In addition, AMPK activation is associated with reduction in inflammation and fibrosis while improving cellular metabolism, offering a differentiated, multi-mechanistic approach to address the underlying drivers of ADPKD. SCY-770 has been evaluated across multiple clinical trials in approximately 300 participants to date. SCY-770 has been granted Orphan Drug Designation by the U.S. Food and Drug Administration (FDA) for the treatment of ADPKD.
About SCY-247
SCY-247 is a second-generation triterpenoid (fungerp) antifungal candidate being developed for the treatment of invasive candidiasis and the prevention of invasive fungal diseases. As a member of a novel structural class, SCY-247 has a differentiated mechanism of action from existing antifungal classes and has demonstrated in vitro activity against a broad range of fungal pathogens, including strains resistant to currently available therapies. SCY-247 has been granted Orphan Drug, Qualified Infectious Disease Product (QIDP) and Fast Track designations by the U.S. Food and Drug Administration. SCYNEXIS is developing both oral and intravenous (IV) formulations of SCY-247. Recently, SCYNEXIS was awarded a BARDA contract (75A50126C00007) providing up to approximately
About SCYNEXIS
SCYNEXIS, Inc. (NASDAQ: SCYX) is a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases. SCY-770 is being developed for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD) and has been granted Orphan Drug designation. SCYNEXIS’s proprietary antifungal platform “fungerps” includes BREXAFEMME® (ibrexafungerp tablets), the first approved representative of this novel class, which has been licensed to GSK, and SCY-247, currently in clinical stages of development for the treatment and prevention of invasive fungal diseases. 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: the anticipated initiation of the SCY-770 Phase 2 study in Q4 of 2026 and the anticipated early efficacy readout in Q4 2027, the use of pharmacokinetic data to support Phase 2 dose selection, the potential for SCY-770 to serve as a disease-modifying therapy for ADPKD, the goal of bringing patients a new, well-tolerated oral treatment option for a disease with significant unmet need and limited therapeutic options, the potential for BARDA to exercise options under the BARDA contract and the amount and timing of any resulting funding, the advancement of SCY-247 into a Phase 2 study in patients with invasive candidiasis, the Company’s expectation to initiate Phase 2 development of SCY-247 in oral and IV formulations in 2027, subject to regulatory agreement, the potential for SCY-247 to provide therapeutic advantages of both an oral and IV formulation, the Company’s expectation to fund its share of near-term program costs for SCY-247 within its existing operating plan, the potential for the Company to receive net sales milestones and royalties in connection with a relaunch of BREXAFEMME® by GSK, and the statements concerning the Company’s cash runway into 2029, and other statements identified by words such as “will,” “potential,” “could,” “can,” “believe,” “intends,” “continue,” “plans,” “expects,” “anticipates,” “estimates,” “may,” other words of similar meaning or the use of future dates. 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, including the risk that SCYNEXIS may not reach alignment with the FDA on the planned Phase 2 study design on the anticipated timeline or at all, and the risk that BARDA does not exercise one or more options under the BARDA contract. For the Company, this includes the future prospects of the Company’s SCY-770 program, the timing and results of the Company’s anticipated Phase 2 proof-of-concept clinical study evaluating SCY-770, stock price volatility and uncertainties relating to the financial markets, the medical community and the global economy, and the impact of instability in general business and economic conditions, including changes in inflation and interest rates. These and other risks are described more fully in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including without limitation, its most recent Annual Report on Form 10-K filed on March 4, 2026, including under the caption “Risk Factors,” and in other filings the Company makes with the SEC from time to time. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company 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
John Fraunces
LifeSci Advisors
Tel: 917-355-2395
jfraunces@lifesciadvisors.com
| SCYNEXIS, INC. | |||||||||
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||||
| (in thousands, except share and per share data) | |||||||||
| September 30, 2026 | December 31, 2025 | ||||||||
| Assets | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ | 8,228 | $ | 21,259 | |||||
| Short-term investments | 38,937 | 18,772 | |||||||
| Prepaid expenses and other current assets | 2,430 | 263 | |||||||
| Restricted cash | 135 | 80 | |||||||
| Deferred offering costs | 627 | — | |||||||
| Total current assets | 50,357 | 40,374 | |||||||
| Investments | 16,061 | 16,247 | |||||||
| Deferred offering costs | — | 533 | |||||||
| Restricted cash | 54 | 109 | |||||||
| Operating lease right-of-use asset | 1,479 | 1,764 | |||||||
| Total assets | $ | 67,951 | $ | 59,027 | |||||
| Liabilities and stockholders’ equity | |||||||||
| Current liabilities: | |||||||||
| Accounts payable | $ | 3,601 | $ | 2,225 | |||||
| Accrued expenses | 2,502 | 2,791 | |||||||
| Deferred revenue | — | 235 | |||||||
| Operating lease liability, current portion | 549 | 483 | |||||||
| Total current liabilities | 6,652 | 5,734 | |||||||
| Warrant liability | 980 | 2,225 | |||||||
| Operating lease liability | 1,272 | 1,692 | |||||||
| Total liabilities | 8,904 | 9,651 | |||||||
| Commitments and contingencies | |||||||||
| Stockholders’ equity: | |||||||||
| Preferred stock, | — | — | |||||||
| Common stock, | 10 | 5 | |||||||
| Additional paid-in capital | 466,541 | 434,515 | |||||||
| Accumulated deficit | (407,504 | ) | (385,144 | ) | |||||
| Total stockholders’ equity | 59,047 | 49,376 | |||||||
| Total liabilities and stockholders’ equity | $ | 67,951 | $ | 59,027 | |||||
| SCYNEXIS, INC. | ||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (in thousands, except share and per share data) | ||||||||
| Three Months Ended September 30, | ||||||||
| 2026 | 2025 | |||||||
| License agreement revenue | $ | — | $ | 334 | ||||
| Operating expenses: | ||||||||
| Research and development | 6,199 | 5,452 | ||||||
| Selling, general and administrative | 3,562 | 3,287 | ||||||
| Total operating expenses | 9,761 | 8,739 | ||||||
| Loss from operations | (9,761 | ) | (8,405 | ) | ||||
| Other (income) expense: | ||||||||
| Interest income | (617 | ) | (454 | ) | ||||
| Other income | (870 | ) | — | |||||
| Warrant liabilities fair value adjustment | 184 | 640 | ||||||
| Total other (income) expense | (1,303 | ) | 186 | |||||
| Net loss | $ | (8,458 | ) | $ | (8,591 | ) | ||
| Net loss per share – basic and diluted | $ | (0.71 | ) | $ | (1.38 | ) | ||
| Weighted average common shares outstanding – basic and diluted | 11,842,836 | 6,237,361 | ||||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much BARDA funding can SCYNEXIS receive for SCY-247?
The BARDA contract provides up to approximately $214 million in non-dilutive funding if all options are exercised. Approximately $18.5 million in the initial base period supports advancement of oral and intravenous SCY-247 into a Phase 2 trial in patients with invasive candidiasis, a serious fungal infection.
When does SCYNEXIS plan to start the SCY-770 Phase 2 trial?
SCYNEXIS plans to initiate its SCY-770 Phase 2 proof-of-concept trial in Q4 2026, with an anticipated interim analysis in Q4 2027. The trial will enroll patients with autosomal dominant polycystic kidney disease, an inherited condition that causes kidney cysts.
Does SCYNEXIS have to contribute to the BARDA-funded SCY-247 program?
The BARDA award is a cost-share arrangement, so SCYNEXIS must fund a share of program costs. The company expects to cover its share of near-term SCY-247 costs within its existing operating plan.
What doses were tested in the SCYNEXIS SCY-770 Phase 1 study?
The SCY-770 study tested a single 500 mg dose under fed and fasted conditions, followed by cohorts receiving 750 mg once daily or 500 mg twice daily, or placebo, for seven days. Drug-exposure data from this and prior studies will inform dose selection for Phase 2.