Company: SCYX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038044
Chunk: 203

Company: SCYNEXIS INC
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 203
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 to provide a reasonable basis upon which to estimate expected term;

•we determine the risk-free interest rate by reference to implied yields available from U.S. Treasury securities with a remaining term equal to the expected life assumed at the date of grant; and

•we recognize forfeitures as they are incurred.

The assumptions used in the Black-Scholes option-pricing model for the years ended December 31, 2024 and 2023 are set forth below:

    Employee Stock Options
     
    Years Ended December 31,

    2024

    2023

    Weighted average risk-free interest rate

    4.04
    %

    3.98
    %

    Weighted average expected term (in years)

    6.02

    6.04

    Weighted average expected volatility

    80.94
    %

    74.77
    %

    Non-Employee Stock Options
     
    Years Ended December 31,

    2024

    2023

    Weighted average risk-free interest rate

    4.26
    %

    3.89
    %

    Weighted average expected term (in years)

    5.50

    5.50

    Weighted average expected volatility

    83.83
    %

    80.12
    %

We record the fair value of stock options issued as of the grant date as compensation expense. We recognize compensation expense over the requisite service period, which is equal to the vesting period.

Stock-based compensation expense has been reported in our statements of operations as follows (dollars in thousands):

    Years Ended December 31,

    2024

    2023

    Research and development
     
    $
    988

    $
    873

    Selling, general and administrative

    2,358

    1,751

    Total
     
    $
    3,346

    $
    2,624

On December 31, 2024, the aggregate intrinsic value of outstanding options to purchase shares of our common stock was zero, based upon the $1.21 closing sales price per share of our common stock as reported on the Nasdaq Global Market on that date.

Warrant Liabilities

We account for the outstanding warrants associated with the December 2020 and April 2022 public offerings as liabilities measured at fair value.  The fair values of these warrants have been determined