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Dec 30, 2024
Scynexis Q4 2024 Earnings Report
Scynexis reported its full year 2024 financial results, including a net loss and a decrease in revenue compared to the previous year, while also providing updates on its clinical programs and cash runway.
Key Takeaways
SCYNEXIS reported a net loss of $21.3 million for the full year ended December 31, 2024, with total revenue of $3.7 million, a significant decrease from $140.1 million in 2023. The company ended 2024 with $75.1 million in cash, cash equivalents, and investments, projecting a cash runway into Q3 2026.
SCYNEXIS reported a full-year 2024 net loss of $21.3 million, or $0.44 basic loss per share.
Total revenue for the full year 2024 was $3.7 million, primarily from license agreement revenue.
Cash, cash equivalents, and investments totaled $75.1 million as of December 31, 2024, with a projected cash runway into Q3 2026.
The Phase 1 trial of SCY-247 was initiated in December 2024, with results expected in Q3 2025, and progress is being made to restart the Phase 3 MARIO study in Q2 2025.
Scynexis
Scynexis
Scynexis Revenue by Segment
Revenue by Segment
License agreement Revenue
CapyFin.com Forward Guidance
SCYNEXIS anticipates key milestones in its clinical development programs and expects its current cash to fund operations into Q3 2026.
Positive Outlook
- Expectation of cash runway into Q3 2026.
- Anticipated release of single and multiple ascending dose data from SCY-247 Phase 1 study in Q3 2025.
- Anticipated lifting of the clinical hold of the Phase 3 MARIO study in Q2 2025.
- SCY-247 has demonstrated highly encouraging preclinical results, highlighting its potential for clinical success.
- Progress towards restarting the MARIO trial for invasive candidiasis.
Challenges Ahead
- Actual results may differ materially from forward-looking statements due to risks and uncertainties.
- Risks inherent in regulatory and other costs in developing products.
- Dependence on FDA's lifting of the clinical hold for the MARIO study restart.
- No specific revenue guidance provided for future periods.
- Continued net loss for the full year 2024.