SCYNEXIS (SCYX) Q3 2026 earnings summary

Executive summary

• Q3 net loss was $8.5M vs $8.6M YoY as operating expenses rose 12% to $9.8M, reflecting clinical development activity across SCY-770 and SCY-247.

• September BARDA contract provides $18.5M in base-period funding for SCY-247, with potential non-dilutive funding of up to $213.9M if all options are exercised.

• Cash, cash equivalents and investments totaled $63.2M at September 30; management expects resources to fund operations into 2029.

Financial highlights

• Q3 operating expenses were $9.8M vs $8.7M YoY; R&D rose 13.7% to $6.2M and SG&A rose 8.4% to $3.6M.

• Q3 operating loss was $9.8M vs $8.4M; net loss was $8.5M vs $8.6M, with $1.3M of other income vs $0.2M of other expense.

• 9M license revenue was $235K vs $1.955M; operating expenses were $34.7M vs $28.6M and net loss was $22.4M vs $20.9M.

• 9M R&D rose 26.5% to $22.4M, including an $8.0M SCY-770 acquired IPR&D charge; SG&A rose 13.4% to $12.3M, including $0.9M in placement-related warrant costs.

• 9M operating cash use was $30.5M vs $23.7M; cash, cash equivalents and restricted cash were $8.4M, with investments of $54.8M at fair value.

Outlook and guidance

• SCY-770 Phase 2 proof-of-concept ADPKD study is planned to start in Q4 2026, with interim analysis anticipated in Q4 2027.

• SCY-247 Phase 2 studies in invasive candidiasis are expected in 2027, subject to regulatory agreement; BARDA base-period funding supports oral and IV development.

• Existing cash and investments are expected to fund operations into 2029; management also anticipates substantial additional funding needs as development proceeds.

• BREXAFEMME relaunch could generate up to $146M in annual net-sales milestones plus low-to-mid-single-digit net royalties.