Scynexis rockets as it pockets $90 million from deal with UK pharma major
US biotech Scynexis’ (Nasdaq: SCYX) shares were up more than 130% in pre-market trading, after it revealed the signing of an exclusive licence agreement with UK pharma major GSK (LSE: GSK) for Brexafemme (ibrexafungerp tablets).
Brexafemme was first approved by the US Food and Drug Administration (FDA) as a first-in-class antifungal for the treatment of vulvovaginal candidiasis (VVC) in 2021, and for reduction in the incidence of recurrent VVC (RVVC) in December last year.
Scynexis has previously forecast that peak sales of the drug could reach between $400 million and $600 million.
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