SCYNEXIS INC. Files Q3 2024 10-Q

TL;DR

SCYNEXIS Q3 10-Q filed. Financials look standard, no major red flags.

AI Summary

SCYNEXIS INC. reported its third-quarter results for the period ending September 30, 2024. The company's financial statements indicate various equity transactions and fair value measurements. Specific dollar amounts and dates related to these activities are detailed within the filing.

Why It Matters

This filing provides insight into SCYNEXIS's financial health and operational activities during the third quarter of 2024, which can influence investor decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate indications of significant financial distress or unexpected events.

Key Numbers

• Q3 — Quarter (Reporting period for the 10-Q)
• 2024-09-30 — End of Period (Specific date for financial reporting)
• 2023-12-31 — Prior Year End (Reference point for fair value measurements)

Key Players & Entities

• SCYNEXIS INC. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241106 (date) — Filing date
• PHARMACEUTICAL PREPARATIONS [2834] (industry) — Standard Industrial Classification
• scyx:TwoThousandAndFourteenEquityIncentivePlanMember (plan) — Equity incentive plan
• scyx:April2022PublicOfferingMember (offering) — Public offering in April 2022
• scyx:LoanAgreementAmendmentMember (agreement) — Loan agreement amendment
• scyx:DanforthMember (entity) — Mentioned in relation to warrants

FAQ

Key Financial Figures

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

Filing Documents

• scyx-20240930.htm (10-Q) — 1885KB
• scyx-ex31_1.htm (EX-31.1) — 17KB
• scyx-ex31_2.htm (EX-31.2) — 17KB
• scyx-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-122241.txt ( ) — 9503KB
• scyx-20240930.xsd (EX-101.SCH) — 1171KB
• scyx-20240930_htm.xml (XML) — 2188KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 28,730 $ 34,050 Short-term investments 40,098 40,312 Prepaid expenses and other current assets 1,538 5,548 License agreement receivable 153 2,463 License agreement contract asset 9,509 19,363 Restricted cash 435 380 Total current assets 80,463 102,116 Investments 16,116 23,594 Deferred offering costs 187 175 Restricted cash 109 163 Operating lease right-of-use asset (See Note 7) 2,163 2,364 Total assets $ 99,038 $ 128,412 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 4,955 $ 7,149 Accrued expenses 5,508 7,495 Deferred revenue, current portion 1,642 1,189 Operating lease liability, current portion (See Note 7) 389 340 Warrant liabilities — 130 Convertible debt and derivative liability (See Note 6) 13,225 — Total current liabilities 25,719 16,303 Deferred revenue 1,294 2,727 Warrant liabilities 11,212 21,680 Convertible debt and derivative liability (See Note 6) — 12,159 Operating lease liability (See Note 7) 2,284 2,581 Total liabilities 40,509 55,450 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.001 par value, authorized 5,000,000 shares as of September 30, 2024 and December 31, 2023; 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 150,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 37,943,241 and 37,207,799 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 41 40 Additional paid-in capital 430,590 428,169 Accumulated deficit ( 372,102 ) ( 355,247 )

View Full Filing

View this 10-Q filing on SEC EDGAR