Why Did SCYX Stock Jump 10% In Pre-Market Today?

Shares of Scynexis, Inc. (SCYX) gained around 10% in pre-market trading on Tuesday after the biotech firm announced a deal with Poxel S.A. to acquire a potential treatment for a kidney disease, alongside securing $40 million through a private placement.

Scynexis signed a definitive agreement to acquire PXL-770, now renamed SCY-770, a novel oral therapy to treat Autosomal Dominant Polycystic Kidney Disease, a leading cause of kidney failure. The drug has shown a favorable safety profile across eight clinical trials.

The company plans to begin a Phase 2 study in late 2026, with early results expected in the second half of 2027. The therapy has also received Orphan Drug Designation from the U.S. Food and Drug Administration.

Separately, Scynexis said it expects to raise about $40 million upfront from the private placement, with the potential to bring in up to an additional $52.2 million if all warrants are exercised for cash.

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