SCYNEXIS (SCYX) Q2 2026 earnings summary

Executive summary

• Acquired SCY-770, a novel AMPK activator for ADPKD, with Orphan Drug Designation; Phase 1 initiated with topline data expected Q3 2026 and Phase 2 planned for Q4 2026–2027.

• Proprietary antifungal platform includes SCY-247 (Phase 1 completed, topline data Q3 2026) and BREXAFEMME, licensed to GSK, with milestone and royalty potential.

• Completed a $40M private placement in March 2026, strengthening liquidity and supporting pipeline advancement.

• Ended Q2 2026 with $71.1M in cash, cash equivalents, and investments, supporting operations into 2029.

Financial highlights

• License agreement revenue was $0.2M for Q2 2026, down from $1.4M in Q2 2025.

• Net income for Q2 2026 was $7.4M, compared to a net loss of $6.9M in Q2 2025, driven by a $14.2M gain from warrant liability fair value adjustment.

• R&D expenses for Q2 2026 were $3.9M, down 46% from $7.1M in Q2 2025; SG&A expenses increased 9% to $4.1M.

• Cash, cash equivalents, and investments totaled $71.1M as of June 30, 2026, up from $56.3M at year-end 2025.

Outlook and guidance

• Topline data from Phase 1 SCY-770 and SCY-247 studies expected in Q3 2026; Phase 2 SCY-770 to begin Q4 2026, with early efficacy data in H2 2027.

• Cash runway projected to last into 2029.

• Potential to receive up to $146M in milestones and royalties from BREXAFEMME relaunch by GSK.

• Additional capital may be needed for future operations, potentially through equity, debt, or partnerships.