Scynexis Inc rises on closing deal with GSK for antifungal pill

Scynexis

12/05/2023 13:32

** Shares of biotech co Scynexis Inc  SCYX.O  rise 3.3% to
$2.84
    ** Co announces the closing of its previously announced
exclusive license agreement with GSK plc  GSK.L   
    ** The deal is to commercialize its antifungal tablet
Brexafemme as a treatment for vulvovaginal candidiasis and
further develop it for multiple indications in invasive and
life-threatening fungal diseases
     ** Co is receiving an upfront payment of $90 million with
future performance-based milestone payments of up to $503
million and tiered royalties
    ** Brexafemme is the only oral antifungal treatment approved
by the U.S. FDA for vulvovaginal candidiasis, a type of yeast
infection
    ** Up to last close, stock up ~76% YTD

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