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Wednesday, May 18, 2022

SCYNEXIS, Inc. (SCYX) stock plunged in the Current market; here is why?

SCYNEXIS, Inc. (SCYX) stock declined in the current market after announcing its fourth quarter and fiscal 2021 results. SCYX’s share price is $3.99, losing more than 15.11% compared to yesterday’s closing price. SCYX stock closed at $4.70 at the end of the last trading session. SCYX stock volume was around 249.69K shares in the previous trading session. The current market cap of the company is about $93.29 million.


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SCXY: Q4 and Fiscal 2021 Key Financials

  • SCYNEXIS, Inc. (SCYX) made revenue of $0.6 million in Q4. The revenue is from the product that was approved in June 2021.
  • R&D expense was about $7.7 million in Q4. Previously in the fourth quarter of 2020, R&D expense was $10.2 million.
  • Net loss was $29.2 million, or loss per share was $1.05 per share in Q4 2021. Previously in Q4 2020, the net loss was $42.7 million, or a loss per share of $3.43.
  • The company’s fiscal 2021 revenue was $1.1 million, mainly from BREXAFEMME.
  • R&D expense was 23.8 million in fiscal 2021. In fiscal 2020 R&D expense was 36.5 million.
  • For 2021, the company had a net loss of $32.9 million. There was a $1.25 per share loss. In fiscal 2020, the company had a net loss of $55.2 million, or a loss per share of $5.15.
  • As of December 2021, the company had cash and cash equivalents of $104.5 million.

SCYX CEO’s Remarks

We had a great year of rapid growth and historical achievements, said Marco Taglietti, M.D., President and Chief Executive Officer of SCYNEXIS. The following year will be even more exciting as we extend our prescriber base, payer coverage, and BREXAFEMME revenues. We also aim to submit a supplementary New Drug Application (sNDA) for recurrent vulvovaginal candidiasis (rVVC) and expect approval by 2022.

Conclusion

The company has made significant revenue from a recently approved product. They are anticipating that in fiscal 2022, BREXAFEMME sales will have a significant effect on the profitability of the company.

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