SCYNEXIS Reports First Quarter 2019 Financial Results and Provides Company Update

Thursday, May 9, 2019 General News
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Continued advancement of VVC program, including completed favorable embryo-fetal safety profile, further supports a potential first NDA submission of oral ibrexafungerp in the second half of 2020

SCYNEXIS, INC.

UNAUDITED CONDENSED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

Three Months Ended March 31, 

2019

2018

Revenue

$

64

$

64

Operating expenses:

Research and development

9,684

5,326

Selling, general and administrative

2,241

1,971

Total operating expenses

11,925

7,297

Loss from operations

(11,861)

(7,233)

Other expense (income):

Loss on extinguishment of debt

814

?

Amortization of debt issuance costs and discount

200

111

Interest income

(281)

(167)

Interest expense 

367

379

Warrant liabilities fair value adjustment

6,522

(3,554)

Derivative liability fair value adjustment

3,425

?

Total other expense (income):

11,047

(3,231)

Net loss

$

(22,908)

$

(4,002)

Net loss per share – basic and diluted

$

(0.46)

$

(0.12)

Weighted average common shares outstanding – basic and diluted

49,317,575

33,579,025

SCYNEXIS, INC.

 UNAUDITED CONDENSED BALANCE SHEETS

(in thousands, except share and per share data)

March 31, 2019

December 31, 2018

Cash and cash equivalents

$

12,950

$

11,439

Short-term investments

26,110

32,718

Total current assets

40,073

51,463

Operating lease right-of-use asset

3,317

?

Total assets

45,067

53,170

Total current liabilities

4,638

5,877

Warrant liabilities

7,508

986

Loan payable expected to be refinanced

?

15,082

Convertible debt and derivative liability

18,296

?

Operating lease liability

3,295

?

Total liabilities

33,737

21,945

Total stockholders' equity

11,330

31,225

Total liabilities and stockholders' equity

$

45,067

$

53,170



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