Biotech firm SCYNEXIS soars on GSK licensing agreement

Scynexis

30/03/2023 13:22

** Shares of biotech co SCYNEXIS Inc  SCYX.O  rise 92.22% 
to $3.21 premarket, top gainer across U.S. exchanges
    ** GSK plc  GSK.L  and co enter into an exclusive licence
agreement for fungal infection treatment 
    ** Brexafemme is a U.S FDA approved antifungal for the
treatment of vulvovaginal candidiasis (VVC) and for reduction in
the incidence of recurrent VVC 
    ** VVC is a widespread vaginal infection primarily caused by
a fungus called Candida albicans affecting up to 75% of women
once in their life
    **  Agreement gives GSK rights to commercialise Brexafemme
for VVC and RVVC while continuing to develop the drug, which is
in late-stage trial for the potential treatment of invasive
candidiasis (IC), a life-threatening fungal infection
    ** Co will receive an upfront payment of $90 million, plus
additional potential milestone-based payments totaling $503
million
    ** Stock up ~7% YTD as of last close

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))