The significant EPS miss and widening operating losses are concerning, but the $72.4M cash runway to mid-2029 and upcoming SCY-770 Phase 2 catalyst in Q4 2026 provide a long development horizon. Monitor for topline Phase 1 IV data for SCY-247 in Q3 2026 and any GSK Brexafemme relaunch milestones that could trigger revenue.
Price Chart
Executive Summary
SCYNEXIS reported Q1 2026 results with a GAAP net loss of $0.42 per share, significantly wider than the consensus estimate of -$0.12, driven by a $8.0M IPR&D charge for the SCY-770 acquisition and a $5.2M warrant liability fair value adjustment. The company completed a $37.2M private placement and ended the quarter with $72.4M in cash, extending its runway to mid-2029, but the core operating loss more than doubled year-over-year with no revenue.
Key Financial Metrics
Key Facts
- GAAP net loss per share of -$0.42 vs consensus of -$0.12 (250% miss)
- Net loss of $21.3M vs $5.4M in Q1 2025, driven by $8.0M IPR&D charge for SCY-770 acquisition and $5.2M warrant liability adjustment
- Revenue was $0 vs $0.3M in Q1 2025 (no license revenue recognized)
- Completed $37.2M private placement on April 1, 2026, with potential for additional $52.2M from warrant exercises
- Cash, cash equivalents and investments of $72.4M at March 31, 2026, extending cash runway to mid-2029
- GSK committed to Brexafemme relaunch with potential up to $146M in annual net sales milestones
- Phase 2 proof-of-concept study for SCY-770 in ADPKD expected to begin Q4 2026 with early efficacy readout in H2 2027
Financial Impact
Net loss widened to $21.3M from $5.4M YoY; EPS miss of -$0.42 vs -$0.12 consensus; cash position $72.4M post-offering
Risk Factors
- No near-term revenue visibility; operating losses expected to continue
- SCY-770 Phase 2 proof-of-concept study carries clinical and regulatory risk
- Warrant liability fair value adjustment creates earnings volatility tied to stock price
- Dilution risk from potential full exercise of $52.2M in warrants
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292371 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 8-K | $4.70 $4.45 | ▼ −5.32% | ▼ −4.82% | $5.15 (+9.57%) |
Jun 26, 2026 13w ago | 8-K | $3.87 $4.73 | ▲ +22.22% | ▲ +20.83% | $5.15 (+33.07%) |
May 22, 2026 18w ago | 8-K | $5.45 $5.33 | ▼ −2.17% | ▼ −3.25% | $5.15 (−5.47%) |
May 11, 2026 20w ago | Press Release | $6.24 $5.26 | ▲ +15.77% | ▲ +15.17% | $5.15 (+17.47%) |
Apr 20, 2026 23w ago | 8-K | $8.48 $7.89 | ▼ −6.98% | ▼ −8.06% | $5.15 (−39.27%) |
Mar 31, 2026 26w ago | Press Release | $7.34 $7.97 | ▲ +8.62% | ▲ +4.67% | $5.15 (−29.80%) |
Mar 4, 2026 30w ago | Press Release | $6.34 $7.12 | ▲ +12.34% | ▲ +14.58% | $5.15 (−18.77%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access