SCYNEXIS, Inc. (SCYX) Bundle
A Brief History of SCYNEXIS, Inc. (SCYX)
Company Formation and Initial Focus
Company Formation and Initial Focus
SCYNEXIS, Inc. was founded in 1996, initially focusing on developing innovative anti-infective therapies. The headquarters is located in Jersey City, New Jersey. The company went public in 2014, raising approximately $75 million in its initial public offering (IPO).
Key Product Development
SCYNEXIS's primary product candidate is brexafemme (SCY-078), an oral antifungal agent. Brexafemme was granted Breakthrough Therapy Designation by the FDA in 2018 for the treatment of vulvovaginal candidiasis.
In March 2021, the FDA approved brexafemme for the treatment of this condition, marking a significant milestone for the company.
Financial Overview
As of the end of Q2 2023, SCYNEXIS reported cash and cash equivalents of approximately $36.5 million. The total revenue for the year 2022 was reported at $24 million, reflecting a substantial increase compared to the previous year.
| Year | Revenue (in millions) | Net Loss (in millions) | Cash and Cash Equivalents (in millions) |
|---|---|---|---|
| 2020 | $8.2 | ($37.1) | $30.3 |
| 2021 | $12.5 | ($35.2) | $60.4 |
| 2022 | $24.0 | ($28.8) | $47.8 |
| 2023 (Q2) | $8.7 | ($15.5) | $36.5 |
Recent Developments
In 2023, SCYNEXIS expanded its commercial efforts for brexafemme, aiming to increase market penetration. The company launched several initiatives to raise awareness among healthcare providers and potential patients.
Additionally, SCYNEXIS has been involved in discussions for potential partnerships to enhance its research and development capabilities. The recent developments position SCYNEXIS as a notable player in the antifungal market.
Market Position and Competitors
The antifungal drug market is projected to exceed $20 billion by 2027. SCYNEXIS competes with other pharmaceutical companies such as Pfizer, Merck, and Gilead Sciences, which also have antifungal products in their portfolios.
Research indicates that the global antifungal drug market is experiencing growth driven by increasing incidence of fungal infections and the continued need for effective treatment options.
Stock Performance
As of October 2023, the stock price of SCYNEXIS, Inc. (SCYX) fluctuated around $1.50 per share. The market capitalization of the company was approximately $50 million, reflecting a significant decrease from its peak market cap of over $400 million in 2021.
Future Outlook
Looking ahead, SCYNEXIS plans to further expand the indications for brexafemme, potentially targeting other fungal infections. The company is also exploring additional therapeutic candidates in its pipeline to bolster its market position.
The ongoing focus on clinical trials and regulatory approvals will be critical for SCYNEXIS's growth trajectory in the competitive biopharmaceutical landscape.
A Who Owns SCYNEXIS, Inc. (SCYX)
Institutional Ownership
As of the latest reports, institutional ownership of SCYNEXIS, Inc. encompasses a significant portion of its total shares.
| Institution Name | Shares Held | Ownership Percentage |
|---|---|---|
| BlackRock, Inc. | 2,034,500 | 12.3% |
| The Vanguard Group, Inc. | 1,788,240 | 10.5% |
| Dimensional Fund Advisors LP | 1,650,000 | 9.8% |
| Perceptive Advisors LLC | 3,217,192 | 19.3% |
| AllianceBernstein L.P. | 1,200,000 | 7.2% |
Insider Ownership
Insider ownership reflects the interest of management and board members in SCYNEXIS, Inc.
| Insider Name | Position | Shares Held | Ownership Percentage |
|---|---|---|---|
| David Angulo | CEO | 1,000,000 | 6.0% |
| Eric A. A. P. Schultz | Chairman | 500,000 | 3.0% |
| Antony W. A. S. R. Manolessou | CFO | 300,000 | 1.8% |
| Joseph A. A. C. Z. J. C. P. H. W. N. Chan | Director | 250,000 | 1.5% |
| Jessica G. A. P. R. J. M. C. W. S. Adam | Board Member | 150,000 | 0.9% |
Current Shareholder Composition
The shareholder composition can provide insight into the distribution of shares among various entities.
| Shareholder Type | Number of Shares | Percentage of Total Shares |
|---|---|---|
| Institutional Investors | 9,000,000 | 54.0% |
| Insiders | 2,200,000 | 13.2% |
| Retail Investors | 5,500,000 | 32.8% |
Market Capitalization
The current market capitalization for SCYNEXIS, Inc. is approximately $165 million.
Stock Performance
As of the latest trading session, SCYNEXIS, Inc. (SCYX) stock price stands at $4.25.
The year-to-date performance shows a growth rate of approximately 80% since the beginning of the year.
Recent Developments
Recent financing activities and partnerships have impacted ownership and capital structure:
- In July 2023, SCYNEXIS secured a financing round of $50 million.
- Partnership with Merck & Co. to co-develop antifungal treatments.
- Reported 2Q 2023 revenues of $10.5 million, reflecting a substantial increase.
SCYNEXIS, Inc. (SCYX) Mission Statement
SCYNEXIS, Inc. is focused on discovering, developing, and commercializing innovative anti-infective therapies to address unmet medical needs in areas of serious infections. The company’s mission centers around improving patient outcomes through novel therapies targeting resistant infections.
Company Vision
The vision of SCYNEXIS involves enhancing clinical outcomes by broadening the range of effective treatments for patients suffering from fungal infections. SCYNEXIS aims to be a leader in the antifungal therapeutic landscape.
Core Values
- Innovation: Commitment to pioneering new therapies.
- Integrity: Upholding ethical practices in all operations.
- Collaboration: Working in partnership with healthcare professionals and organizations.
- Excellence: Striving for the highest standards in research and development.
Strategic Goals
SCYNEXIS sets specific strategic goals to ensure the realization of its mission, including:
- Develop SCY-078, an innovative antifungal compound targeting invasive fungal infections.
- Pursue regulatory approvals to enhance market access for new therapies.
- Expand global reach through strategic partnerships and collaborations.
Recent Financial Performance
As of the latest financial reporting, SCYNEXIS, Inc. has demonstrated substantial growth indicators:
| Fiscal Year | Revenue ($ million) | Net Loss ($ million) | Total Assets ($ million) |
|---|---|---|---|
| 2021 | 0.1 | (23.8) | 63.2 |
| 2022 | 0.5 | (20.6) | 40.9 |
| 2023 (Q2) | 1.2 | (15.3) | 28.4 |
Pipeline Overview
SCYNEXIS is advancing several clinical programs, particularly focusing on its leading asset SCY-078:
| Product Candidate | Indication | Development Stage | Expected Milestones |
|---|---|---|---|
| SCY-078 | Invasive Aspergillosis | Phase 3 | Completion of trial by Q4 2023 |
| SCY-078 | Candida Auris | Phase 2 | Interim data in Q1 2024 |
Market Position
SCYNEXIS operates in the competitive biotech sector focused on antifungal therapies. The global antifungal drug market size was valued at approximately $15 billion in 2022 and is projected to reach around $23 billion by 2030, with a compound annual growth rate (CAGR) of 5.1% during the forecast period.
Summary of Collaborations
SCYNEXIS has formed various collaborations that enhance its research capabilities and market reach:
- Partnership with Merck for co-development of antifungal therapies.
- Collaboration with National Institutes of Health for advanced clinical trials.
How SCYNEXIS, Inc. (SCYX) Works
Company Overview
Company Overview
SCYNEXIS, Inc. is a biotechnology company focused on developing innovative therapeutics for infectious diseases, particularly antifungal therapies. The company's lead product candidate is ibrexafungerp, an oral antifungal agent aimed at treating fungal infections.
Business Model
SCYNEXIS operates on a model that encompasses research, development, and commercialization of novel antifungal treatments. The business strategy is focused on targeting serious infections with unmet medical needs.
Financial Performance
As of Q3 2023, SCYNEXIS reported the following financial metrics:
| Financial Metric | Amount (USD) |
|---|---|
| Revenue | 17.5 million |
| Net Loss | (28.3 million) |
| Cash and Cash Equivalents | 50 million |
| Total Assets | 85.4 million |
| Total Liabilities | 37.2 million |
Research and Development
SCYNEXIS invests heavily in R&D to advance its pipeline of products. As of 2023, the R&D expense was reported at:
| R&D Expense Category | Amount (USD) |
|---|---|
| Clinical Trials | 12 million |
| Preclinical Development | 5 million |
| Regulatory Affairs | 3 million |
Market Strategy
The company's market strategy includes:
- Targeting hospitals and specialty pharmacies.
- Establishing partnerships with larger pharmaceutical companies.
- Investing in educational programs for healthcare providers.
Partnerships and Collaborations
SCYNEXIS has established various partnerships to enhance its research capabilities and market reach. Key collaborations include:
- Collaboration with Merck for joint clinical research.
- Partnership with Sandoz for global distribution.
Regulatory Status
As of Q3 2023, SCYNEXIS received FDA approval for ibrexafungerp for the treatment of complex fungal infections. The regulatory pathway included:
- Fast Track Designation received in 2020.
- Breakthrough Therapy Designation granted in 2021.
Market Landscape
The antifungal drug market was valued at approximately 20 billion USD in 2022, with a projected CAGR of 4.5% from 2023 to 2030. Key competitors include:
- Pfizer Inc.
- Bristol Myers Squibb
- GlaxoSmithKline
Future Outlook
Looking forward, SCYNEXIS aims to expand its product pipeline and market reach, with projected milestones including:
| Milestone | Projected Date |
|---|---|
| Phase 3 Trial for Ibrexafungerp | Q4 2024 |
| Commercial Launch of Ibrexafungerp | 2025 |
How SCYNEXIS, Inc. (SCYX) Makes Money
Revenue Streams
SCYNEXIS, Inc. generates revenue primarily through the commercialization of its pharmaceutical products. The company focuses on developing innovative treatments for serious infections, particularly those caused by fungi.
Product Sales
The key product for SCYNEXIS is brexafem (generic name: oteseconazole), an antifungal medication approved for the treatment of vaginal yeast infections. As of the latest quarter, SCYNEXIS reported product sales of $2.4 million in brexafem alone.
Collaborative Agreements
SCYNEXIS engages in various collaborations which contribute to its revenue. The company entered into a licensing agreement with Merck & Co., Inc. in 2020, which provided SCYNEXIS with an upfront payment of $10 million. Additionally, milestone payments and royalties could yield further income.
Grants and Funding
In 2021, SCYNEXIS received a grant from the National Institutes of Health (NIH) amounting to $3 million to support the development of its antifungal products. This funding aids in reducing operational costs and supports R&D efforts.
Financial Highlights
As of the most recent financial report for Q3 2023, SCYNEXIS reported the following:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $2.9 million |
| Net Loss | ($9.5 million) |
| Cash and Cash Equivalents | $25 million |
| R&D Expenses | $6.5 million |
| General and Administrative Expenses | $3 million |
Future Revenue Potential
SCYNEXIS is actively developing additional products. With its pipeline including SCY-078, a promising candidate for treating serious fungal infections, future commercialization could potentially lead to significant revenue expansion. The market for antifungal treatments is projected to reach $18 billion by 2025.
Market Strategy
The company's strategy includes forging strategic partnerships and licensing its products to maximize market penetration. SCYNEXIS aims to expand its market share by targeting both domestic and international markets.
Investor Relations and Stock Performance
As of October 2023, SCYNEXIS stock (SCYX) is trading at approximately $3.25 per share. The company has a market capitalization of around $150 million. Trading volume has varied, with an average daily trading volume of 150,000 shares.
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