SCYNEXIS secures $214 million BARDA funding deal

• SCYNEXIS secured a BARDA contract with potential funding of up to approximately $214 million to develop SCY-247.
• The initial contract period provides approximately $18.5 million to advance oral and intravenous SCY-247 into a Phase 2 trial.
• SCYNEXIS said its SCY-770 development plans and projected cash runway into 2029 remain unchanged.

SCYNEXIS (NASDAQ:SCYX) secured a contract with the Biomedical Advanced Research and Development Authority to support development of SCY-247, with potential funding of up to approximately $214 million.

The initial base period provides approximately $18.5 million to advance oral and intravenous SCY-247 into a Phase 2 trial for patients with invasive candidiasis.

SCYNEXIS said the contract may continue for up to 10 years and could support development through a new drug application submission for treating invasive candidiasis and preventing invasive fungal infections in high-risk patients if all options are exercised.

SCYNEXIS develops antifungal medicines, including SCY-247, a second-generation fungerp antifungal candidate designed for potential treatment of fungal infections.

The company said BARDA’s cost-share agreement supports eligible SCY-247 development expenses, while its SCY-770 program for autosomal dominant polycystic kidney disease and projected cash runway into 2029 remain unchanged.