SCYNEXIS, Inc. (SCYX) has reported its full-year 2025 results, while highlighting progress across its antifungal pipeline, including its next-generation candidate SCY-247 and updates on its partnership with GSK for BREXAFEMME.
For the full year 2025, SCYNEXIS posted total revenue of $20.6 million, a sharp increase from $3.7 million in 2024, driven primarily by license agreement revenue from GSK. Product revenue contributed $1.4 million, reflecting adjustments related to the prior BREXAFEMME recall.
The company reported a net loss of $8.6 million in 2025, significantly narrowing from a net loss of $21.3 million in 2024.
The company's pipeline includes SCY-247 and BREXAFEMME (ibrexafungerp):
--SCY-247 is a SCYNEXIS's second-generation antifungal drug, in Phase 1 clinical trial with both oral and intravenous formulations. Early Phase 1 results demonstrated good tolerability and strong pharmacokinetics. In February 2026, the company begun dosing patients in its IV formulation study, with topline data expected in the second half of 2026.
A Phase 2 proof-of-concept study in invasive candidiasis is planned later in 2026. The FDA has granted SCY-247 Qualified Infectious Disease Product (QIDP) and Fast Track Designation, underscoring its potential in drug-resistant for fungal infections.
--BREXAFEMME, the first approved drug in SCYNEXIS's proprietary "fungerp" class, was voluntarily recalled in September 2023 due to potential cross contamination with a non-antibacterial beta-lactam drug substance during manufacturing. The product was transferred to GSK in late 2025. GSK is preparing for a relaunch, and SCYNEXIS stands to receive up to $145.5 million in annual net sales milestones plus royalties (net of payments to Merck)
--Beyond SCY-247 and BREXAFEMME, SCYNEXIS is advancing a novel series of antifungal compounds through collaborations funded by a five-year NIH grant, supporting early-stage discovery and translational research.
The company ended December 31, 2025, with $56.3 million cash, cash equivalents and investments. SCYNEXIS received one-time non-refundable payments of $24.8 million from GSK in Q4 of 2025, resulting in a cash runway of more than two years.
SCYX has traded between $0.56 and $1.31 over the past year. The stock closed Wednesday's trading at $0.77, up 3.09%.
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