Scynexis stock surges on $214M BARDA contract for SCY-247

Investing.com -- Scynexis Inc (NASDAQ: SCYX) shares jumped 10% in premarket trading Monday after the company announced it secured a contract from the Biomedical Advanced Research and Development Authority worth up to $214 million.

The initial base period provides approximately $18.5 million to advance oral and intravenous SCY-247 into a Phase 2 trial in patients with invasive candidiasis. The contract is structured as a cost-share arrangement, with BARDA covering eligible SCY-247 costs including direct and general administrative expenses.

SCY-247 has been granted Orphan, Qualified Infectious Disease Product, and Fast Track designations by the Food and Drug Administration. The company reported positive Phase 1 data for the oral formulation in September 2025, while a Phase 1 study of the intravenous formulation has completed dosing with analysis ongoing.

Scynexis said the non-dilutive funding enables advancement of the Phase-2 ready program while strengthening its pipeline and portfolio optionality. The company stated it expects to fund its share of near-term program costs for SCY-247 within its existing operating plan.

The Jersey City, New Jersey-based biotechnology company said it does not anticipate changes to previously communicated guidance regarding development milestones for SCY-770, its lead product candidate for Autosomal Dominant Polycystic Kidney Disease, or its cash runway into 2029.

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