Kingdon Capital exits Scynexis (SCYX) stake in amended 13G/A filing

Rhea-AI Filing Summary

SCYNEXIS, Inc. received an amended Schedule 13G/A from Kingdon Capital Management, L.L.C. and Mark Kingdon reporting that they now beneficially own 0 shares of the company’s common stock, or 0% of the class, as of December 31, 2025.

They report no sole or shared voting or dispositive power over any SCYNEXIS shares and indicate ownership of 5 percent or less of the class. They also certify that any securities previously held were not acquired to change or influence control of the company.

Insights

Equity ownership and governance analyst

Kingdon Capital and Mark Kingdon report a reduced SCYNEXIS stake down to 0% ownership.

The filing shows Kingdon Capital Management, L.L.C. and Mark Kingdon now report beneficial ownership of 0 shares, or 0% of SCYNEXIS common stock as of December 31, 2025. They also show no voting or dispositive power over any shares.

This indicates that a previously reportable holder has effectively exited its position or no longer meets reporting thresholds. The certification states the securities were not acquired or held to change or influence control, which aligns this with a passive, non-control-oriented investment stance rather than an activist position.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

SCYNEXIS INC

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

811292200

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 811292200

1

Names of Reporting Persons

KINGDON CAPITAL MANAGEMENT, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 811292200

1

Names of Reporting Persons

MARK KINGDON

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SCYNEXIS INC
(b)	Address of issuer's principal executive offices: 1 Evertrust Plaza, 13th Floor, Jersey City, New Jersey, 07302-6548
Item 2.
(a)	Name of person filing: Kingdon Capital Management, L.L.C. Mark Kingdon
(b)	Address or principal business office or, if none, residence: Kingdon Capital Management, L.L.C. 152 West 57th Street, 50th Floor New York, New York 10019 United States of America Mark Kingdon c/o Kingdon Capital Management, L.L.C. 152 West 57th Street, 50th Floor New York, New York 10019 United States of America
(c)	Citizenship: Kingdon Capital Management, L.L.C. - Delaware Mark Kingdon - United States
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 811292200
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Kingdon Capital Management, L.L.C. - 0 Mark Kingdon - 0
(b)	Percent of class: Kingdon Capital Management, L.L.C. - 0% Mark Kingdon - 0%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Kingdon Capital Management, L.L.C. - 0 Mark Kingdon - 0
	(ii) Shared power to vote or to direct the vote: Kingdon Capital Management, L.L.C. - 0 Mark Kingdon - 0
	(iii) Sole power to dispose or to direct the disposition of: Kingdon Capital Management, L.L.C. - 0 Mark Kingdon - 0
	(iv) Shared power to dispose or to direct the disposition of: Kingdon Capital Management, L.L.C. - 0 Mark Kingdon - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please see Exhibit B attached hereto.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

KINGDON CAPITAL MANAGEMENT, L.L.C.

Signature:	By: /s/ Richard Weinstein
Name/Title:	Richard Weinstein, Chief Operating Officer & General Counsel
Date:	02/17/2026

MARK KINGDON

Signature:	By: /s/ Mark Kingdon
Name/Title:	Mark Kingdon
Date:	02/17/2026

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

Exhibit A - Joint Filing Agreement Exhibit B - Control Person Identification

FAQ

What does the SCYNEXIS (SCYX) Schedule 13G/A Amendment No. 3 report?

The amendment reports that Kingdon Capital Management, L.L.C. and Mark Kingdon now beneficially own 0 shares, or 0%, of SCYNEXIS common stock. It updates their ownership status as of December 31, 2025, replacing any prior reportable stake.

Who are the reporting persons in the SCYNEXIS (SCYX) Schedule 13G/A?

The reporting persons are Kingdon Capital Management, L.L.C., organized in Delaware, and Mark Kingdon, a United States citizen. Both jointly report on their beneficial ownership, voting power, and dispositive power over SCYNEXIS common stock.

How many SCYNEXIS (SCYX) shares does Kingdon Capital report owning in this filing?

Kingdon Capital Management, L.L.C. reports beneficial ownership of 0 SCYNEXIS common shares. It also reports 0 sole voting power, 0 shared voting power, and 0 dispositive power, reflecting a complete absence of reportable holdings.

What percentage of SCYNEXIS (SCYX) does Mark Kingdon report owning?

Mark Kingdon reports beneficial ownership of 0% of SCYNEXIS’s common stock. He indicates 0 shares beneficially owned and no sole or shared power to vote or dispose of any SCYNEXIS shares as of the reported date.

What is the significance of the ‘ownership of 5 percent or less’ statement for SCYNEXIS (SCYX)?

The filing indicates “ownership of 5 percent or less of a class,” confirming that the reporting persons are below the 5% threshold. This explains why they now report 0% beneficial ownership and no longer appear as significant shareholders.

Do Kingdon Capital and Mark Kingdon seek to influence control of SCYNEXIS (SCYX)?

The certification states the securities were not acquired and are not held to change or influence control of SCYNEXIS. It also notes they are not participating in any transaction with that purpose, aside from activities related to nominations under the specified rule.

Who signed the SCYNEXIS (SCYX) Schedule 13G/A on behalf of Kingdon Capital?

Richard Weinstein, Chief Operating Officer and General Counsel, signed for Kingdon Capital Management, L.L.C., and Mark Kingdon signed individually. They certify that the information in the statement is true, complete, and correct to the best of their knowledge.