Scynexis In Spotlight After Poxel Deal, $40 Million Private Placement – SCYX Stock Climbs 2% Pre-Market

• Scynexis signed a definitive agreement to acquire SCY-770, a novel oral therapy to treat Autosomal Dominant Polycystic Kidney Disease.
• The biotech firm will pay $8 million upfront to Poxel and up to another $8 million tied to development milestones.
• The company plans to begin a Phase 2 study of SCY-770 in late 2026.

Shares of Scynexis, Inc. (SCYX) gave up most of their early gains but traded around 2% higher in pre-market 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 (ADPKD), a leading cause of kidney failure.

Under the agreement, Scynexis will pay $8 million upfront and up to another $8 million tied to development milestones. The company could also pay up to $180 million in commercial milestones, including $125 million if annual sales reach $1 billion or more.

Scynexis To Begin Phase 2 Study Of SCY-770 In Late 2026

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 (FDA).

The oral therapy is designed to target the root causes of ADPKD by slowing cyst growth and limiting disease progression.

“SCY-770 is supported by a strong pre-clinical data package and a novel differentiated MOA that targets multiple key drivers of ADPKD progression, positioning it as a promising candidate in a significant rare disease market with a high unmet need. Our near-term priority is to efficiently advance SCY-770 into a Phase 2 POC study later this year,” said David Angulo, President and CEO of Scynexis.

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.

How Did Retail Traders React?

Retail sentiment for SCYX on Stocktwits flipped to ‘extremely bullish’ from ‘bearish’ a day earlier, amid ‘extremely high’ message volumes.

One user said they want to see the company being bought out.

Another user said the company should remain focused on the anti-fungal space.

Pre-market volumes were strong, with 7.8 million shares changing hands, compared with an average of around 0.4 million, according to Stocktwits data.

Year-to-date, the stock has gained around 25%.

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