Guggenheim starts Scynexis with a Buy, sees ‘unique opportunity’

As previously reported, Guggenheim initiated coverage of Scynexis with a Buy rating and $8 price target. The anti-infectives space "remains out of favor with investors," but the firm believes Scynexis offers a "unique opportunity." Ibrexafungerp is already approved to treat vulvovaginal candidiasis and has shown promising early data against more severe invasive infections, said the firm, which estimates peak probability-adjusted ibrexafungerp sales of $185M.