1. SCYNEXIS received a 180-day Nasdaq compliance extension. 2. Company must maintain a $1.00 share price by June 15, 2026. 3. SCY-247 Phase 1 study for invasive candidiasis planned for next year. 4. SCYNEXIS committed to compliance and strategic objectives announced. 5. FDA-approved Ibrexafungerp marks SCYNEXIS's progress in antifungal development.
FAQ
Why Bullish?
The compliance extension provides SCYNEXIS time to execute their strategy effectively, particularly with ongoing clinical trials. Historical examples show similar extensions leading to increased investor confidence and share price recoveries.
How important is it?
The extension and planned clinical studies are central to SCYNEXIS's future, affecting compliance and potential growth.
Why Long Term?
The outcomes of upcoming studies for SCY-247 may significantly influence future share prices over extended periods.
SCYNEXIS Granted 180-Day Extension by Nasdaq to Regain Compliance with Minimum Bid Price Requirement
| Source: GlobeNewsWire
Overview of Nasdaq Extension for SCYX
Jersey City, N.J. — SCYNEXIS, Inc. (NASDAQ: SCYX), a leading biotechnology company focused on innovative treatments for difficult-to-treat and drug-resistant infections, has announced a significant milestone. The Nasdaq Stock Market has granted SCYNEXIS a 180-calendar-day extension to regain compliance with the minimum bid price requirement, as detailed in Nasdaq Listing Rule 5550(a)(2). This extension provides the company until June 15, 2026, to ensure its common stock maintains a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days.
Reason for the Extension
The Nasdaq approved this extension after confirming that SCYNEXIS continues to meet all other listing criteria for the Nasdaq Capital Market, including the market value of publicly held shares. Additionally, SCYNEXIS has provided written notice of its intention to address this deficiency, possibly through a reverse stock split if required.
Management's Response and Strategic Objectives
“We are grateful for Nasdaq’s decision to grant this 180-day extension, which allows us to continue advancing our strategic objectives,” said David Angulo, M.D., President and Chief Executive Officer of SCYNEXIS. “Over the next year, we plan to leverage our balance sheet to complete a Phase 1 study of an intravenous (IV) formulation for our next-generation antifungal, SCY-247. We also aim to generate proof-of-concept Phase 2 data in the oral formulation of SCY-247 targeting invasive candidiasis infections.”
About SCYNEXIS and Its Innovative Pipeline
SCYNEXIS, Inc. (NASDAQ: SCYX), is committed to developing cutting-edge medicines that assist millions globally in overcoming and preventing severe infections that are increasingly resistant to treatment. The company is advancing its proprietary antifungal platform, “fungerps.”
- Ibrexafungerp: The first product from this novel class, now licensed to GSK.
- BREXAFEMME®: Approved by the U.S. FDA for treating vulvovaginal candidiasis (VVC) and reducing recurrent VVC incidences.
- SCY-247: An investigational asset currently in clinical development.
You can find more information about SCYNEXIS and its pipeline on their official website at www.scynexis.com.
Forward-Looking Statements and Risk Factors
The content of this press release includes "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These include predictions regarding regaining Nasdaq compliance, completing clinical studies, and the potential benefits of SCY-247. It's important to note that actual results may differ significantly due to various risks and uncertainties faced by the Company, particularly in regulatory processes and product development costs.
For a comprehensive overview of these risks, refer to SCYNEXIS' filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K filed on March 12, 2025, under the caption "Risk Factors." SCYNEXIS is under no obligation to update these statements to reflect subsequent events or circumstances.