secwatch.observer — SEC 8-K summary
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Issuer:     SCYNEXIS INC (SCYX)
CIK:        0001178253
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0000950170-24-038015
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1178253/000095017024038015/0000950170-24-038015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1178253/000095017024038015/scyx-20240328.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-038015

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