Scynexis Inc. (NASDAQ: SCYX) shares made a handy gain early on Thursday after the company announced the results from a couple of its mid-stage trials. Specifically, the company evaluated two Phase 2 studies of SCY-078 and the results were very favorable. At the same time, Scynexis closed its $15 million term loan with Solar Capital Ltd. (NASDAQ: SLRC).
In the first study, treatment with oral SCY-078 in patients with vulvovaginal candidiasis (VVC), resulted in significantly better clinical cure rates and fewer recurrences of VVC at the four-month follow-up when compared to the standard of care (oral fluconazole).
As previously reported, clinical cure rate was higher for patients receiving oral SCY-078 compared to oral fluconazole at the test of cure visit (Day 24). Additionally, follow-up data now available showed a high clinical cure rate at the four-month visit (end of observation period) of 88% in patients who received SCY-078 compared to 65% in patients who received fluconazole.
In the second study, which evaluated oral SCY-078 as a step down therapy in patients with invasive candidiasis, oral SCY-078 achieved the target exposure for efficacy and was well-tolerated.
This study met its primary objective by confirming the once daily oral dose of SCY-078 750 mg as a dose that is both overall safe and tolerated and achieves the target exposure in these patients. During the study period, there were no reports of mycological failures in the SCY-078 versus two infection-related failures (one fungemia and one abdominal sepsis) in the fluconazole group.
Excluding Thursday’s move, Scynexis has underperformed the broad markets, with the stock down nearly 23% year to date. Over the past 52 weeks, the stock is down closer to 30%.
Shares of Scynexis closed Wednesday up nearly 7% at $4.80, with a consensus analyst price target of $12.86 and a 52-week trading range of $1.74 to $7.69. Following the announcement shares were trading up about 18% at $5.67.
Solar Capital closed Wednesday at $20.50. Its consensus price target is $21.57, and the 52-week range is $15.05 to $20.88.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
