SCYNEXIS, Inc. (NASDAQ: SCYX) received a 180‑day extension from Nasdaq to regain compliance with the exchange’s minimum bid price rule. The extension gives the company until June 15 2026 to bring its closing bid price to at least $1.00 for ten consecutive business days, or to pursue a reverse split if necessary.
The extension follows a non‑compliance letter issued by Nasdaq on June 20 2025, which noted that SCYNEXIS’s stock had closed below $1.00 for 30 consecutive business days and set a compliance deadline of December 17 2025. The company’s bid price fell below the threshold due to a combination of weak market demand for its antifungal pipeline and broader market volatility that pressured small‑cap stocks.
SCYNEXIS’s financial position remains constrained. As of September 30 2025, the company reported $37.9 million in cash, cash equivalents, and investments. An additional $24.8 million is expected from a partnership with GSK in the fourth quarter of 2025, extending the cash runway to more than two years. The company has no debt and relies on these reserves to fund its clinical development program.
The company’s flagship candidate, SCY‑247, is a second‑generation antifungal that entered a Phase 1 intravenous study in early 2025. Positive safety and pharmacokinetic data were announced on September 30 2025, and the company plans to complete the IV study and generate proof‑of‑concept Phase 2 data for oral SCY‑247 in invasive candidiasis. The extension provides a critical window for SCYNEXIS to achieve the bid‑price threshold while advancing these clinical milestones.
CEO David Angulo said the extension “allows us to focus on completing the Phase 1 IV study and generating Phase 2 data for SCY‑247 without the distraction of a potential delisting.” He added that the company remains committed to Nasdaq compliance and to delivering on its clinical roadmap.
The announcement was met with a muted market response, reflecting the company’s ongoing compliance challenges and the broader uncertainty surrounding small‑cap biotech stocks.
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