Scynexis achieves first development milestone of $25M for ibrexafungerp

SCYNEXIS (SCYX) announced the achievement of a $25M performance-based development milestone under its exclusive license agreement with GSK (GSK) for ibrexafungerp. The milestone payment follows a development goal for the Phase 3 MARIO study for ibrexafungerp in invasive candidiasis as SCYNEXIS continues executing ongoing ibrexafungerp trials. “We are pleased to achieve this development milestone, which reflects the progress we continue to make in advancing the MARIO trial,” said David Angulo, M.D., President and Chief Executive Officer of SCYNEXIS. “As dangerous antifungal threats continue to emerge, there is a pressing need for new oral step-down agents to address invasive candidiasis. We remain committed to developing innovative solutions that may transform the treatment of fungal infections.”