SCYNEXIS reports FY2023 net income of $67M, driven by $130M GSK license revenue; product revenue down 80%

SCYNEXIS INC

Net income of $67.0M ($1.40 basic EPS) vs net loss of $62.8M in FY2022; license revenue of $139M vs $103K prior year.
BREXAFEMME net product revenue fell to $1.0M (from $5.0M); cost of product revenue $15.6M including $14.6M inventory impairment from beta-lactam cross-contamination.
Cash, equivalents and investments $98.0M at Dec 31, 2023 (up from $73.5M); cash runway >2 years.
GSK deal total potential value revised to $448M (from $593M); final study reports due H1 2024 trigger $10M milestone payment.
SCY-247 IND-enabling activities advancing; Phase I initiation expected H2 2024.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SCYNEXIS INC reported the year ended December 31, 2023 results: net income $67.0 million, EPS $1.40 basic income per share.

Period: the year ended December 31, 2023
Net income: $67.0 million
EPS: $1.40 basic income per share
Result: reported results

Exact text from the filing

Net income for the full year 2023, was $67.0 million, or $1.40 basic income per share

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Source: SEC EDGAR

accession 0000950170-24-038015

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