secwatch.observer — SEC 8-K summary
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Issuer:     SCYNEXIS INC (SCYX)
CIK:        0001178253
Form:       8-K
Filed at:   2024-01-02T23:59:59+00:00
Accession:  0000950170-24-000238
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

SCYNEXIS amends GSK license after BREXAFEMME recall; milestone payments cut
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- Binding MOU amends March 2023 license after beta-lactam contamination risk triggered BREXAFEMME recall and clinical hold.
- Regulatory milestone cap reduced to $49M (from $70M); commercial milestone cap to $57.5M (from $115M).
- Sales milestone caps lowered to $179.5M/$169.75M/$145.5M (from $242.5M), depending on relaunch date.
- Up to $72.35M in development milestones, including $30M for MARIO study resumption after clinical hold lifted.
- GSK already paid $90M upfront and $25M development milestone; royalty rates unchanged (mid-single to mid-teen).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1178253/000095017024000238/0000950170-24-000238-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1178253/000095017024000238/scyx-20231226.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-000238

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer