SCYNEXIS Raises $40M in Private Placement

Biotech company secures funding to advance pipeline, including SCY-770 for rare kidney disease

Mar. 31, 2026 at 11:21am

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An extreme close-up of intricate, heavy-duty banking machinery and equipment, conveying the secure, institutional nature of the SCYNEXIS private placement without using any text or symbols.The private placement financing provides SCYNEXIS with the resources to advance its pipeline of innovative rare disease therapies.Jersey City Today

SCYNEXIS, Inc., a biotechnology company focused on developing innovative therapies for severe rare diseases, announced a $40 million private placement with new and existing institutional and accredited investors. The company plans to use the proceeds for working capital and general corporate purposes, including advancing its lead candidate SCY-770 for Autosomal Dominant Polycystic Kidney Disease (ADPKD).

Why it matters

This private placement provides SCYNEXIS with the necessary capital to continue development of its pipeline, particularly the SCY-770 program which has been granted Orphan Drug designation for the treatment of ADPKD, a rare and serious genetic disorder. Securing this funding is a critical step for the company to advance its clinical trials and bring innovative therapies to patients in need.

The details

Under the terms of the agreement, SCYNEXIS will issue 34.75 million shares of common stock, 8.75 million pre-funded warrants, and 43.5 million common warrants to the investors. The shares were sold at a combined price of $0.92 per common share and warrant, with the pre-funded warrants and accompanying warrants sold at $0.9199 per unit. The common warrants will be exercisable at $1.20 per share upon stockholder approval of an increase in the company's authorized shares.

  • The private placement is expected to close on or about April 1, 2026.
  • The common warrants will be exercisable beginning on the effective date of the stockholder approval.

The players

SCYNEXIS, Inc.

A biotechnology company focused on developing innovative therapies for severe rare diseases, including SCY-770 for Autosomal Dominant Polycystic Kidney Disease (ADPKD).

Dr. David Angulo

The President and Chief Executive Officer of SCYNEXIS, who is also participating in the private placement.

Guggenheim Securities, LLC

The sole placement agent for the private placement.

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What they’re saying

“This private placement provides SCYNEXIS with the necessary capital to continue development of its pipeline, particularly the SCY-770 program which has been granted Orphan Drug designation for the treatment of ADPKD, a rare and serious genetic disorder.”

— Dr. David Angulo, President and Chief Executive Officer, SCYNEXIS

What’s next

SCYNEXIS will convene a stockholder meeting within 90 days of the closing to seek approval for an increase in the number of authorized common shares, which is required for the exercise of the common warrants.

The takeaway

This private placement financing demonstrates investor confidence in SCYNEXIS's pipeline, particularly the potential of SCY-770 to address the significant unmet need in Autosomal Dominant Polycystic Kidney Disease. The additional capital will enable the company to advance its clinical trials and bring innovative therapies to patients.