SCYNEXIS Inc. Files Q2 2024 10-Q

TL;DR

SCYNEXIS Q2 10-Q filed. Financials updated, GSK IP license mentioned.

AI Summary

SCYNEXIS Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial position and operational highlights. Key financial data includes information on investments, capital, and product-related metrics. The filing also references agreements such as the GlaxoSmithKline Intellectual Property License Agreement.

Why It Matters

This filing provides investors with an update on SCYNEXIS's financial health and operational status for the second quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing contains financial data and operational updates, but lacks specific forward-looking statements or significant risk disclosures that would elevate the risk level.

Key Numbers

• 2024-06-30 — Reporting Date (End of the second quarter of 2024)
• 2023-12-31 — Previous Year End (Comparison point for financial metrics)
• 2023-03-31 — Previous Quarter End (Comparison point for financial metrics)

Key Players & Entities

• SCYNEXIS INC (company) — Filer
• 2024-06-30 (date) — Reporting Period End Date
• GlaxoSmithKline (company) — Intellectual Property License Partner

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share SCYX Nasdaq Global Market

Filing Documents

• scyx-20240630.htm (10-Q) — 1857KB
• scyx-ex31_1.htm (EX-31.1) — 16KB
• scyx-ex31_2.htm (EX-31.2) — 17KB
• scyx-ex32_1.htm (EX-32.1) — 10KB
• 0000950170-24-093856.txt ( ) — 9289KB
• scyx-20240630.xsd (EX-101.SCH) — 1170KB
• scyx-20240630_htm.xml (XML) — 2163KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 3 Notes to the Condensed Consolidated Financial Statements (unaudited) 4 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26

OTHER INFORMATION

PART II OTHER INFORMATION 27 Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 6. Exhibits 28

Signatures

Signatures 29 Table of Contents

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements. SCYNEXIS, INC. UNAUDITED CONDENS ED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 25,994 $ 34,050 Short-term investments 47,044 40,312 Prepaid expenses and other current assets 1,418 5,548 License agreement receivable 233 2,463 License agreement contract asset 19,509 19,363 Restricted cash 380 380 Total current assets 94,578 102,116 Investments 10,657 23,594 Deferred offering costs 175 175 Restricted cash 163 163 Operating lease right-of-use asset (See Note 7) 2,233 2,364 Total assets $ 107,806 $ 128,412 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 5,350 $ 7,149 Accrued expenses 5,498 7,495 Deferred revenue, current portion 1,229 1,189 Operating lease liability, current portion (See Note 7) 372 340 Warrant liabilities — 130 Convertible debt and derivative liability (See Note 6) 12,784 — Total current liabilities 25,233 16,303 Deferred revenue 1,817 2,727 Warrant liabilities 17,962 21,680 Convertible debt and derivative liability (See Note 6) — 12,159 Operating lease liability (See Note 7) 2,388 2,581 Total liabilities 47,400 55,450 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.001 par value, authorized 5,000,000 shares as of June 30, 2024 and December 31, 2023; 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 150,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 37,856,463 and 37,207,799 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 41 40 Additional paid-in capital 429,659 428,169 Accumulated deficit ( 369,294 ) ( 355,247 ) Total stockholders'

View Full Filing

View this 10-Q filing on SEC EDGAR