Company: SCYX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038044
Chunk: 138

Company: SCYNEXIS INC
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 138
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 loan payable. The resulting debt discount was being amortized over the term of the loan payable using the effective interest method until the loan payable was fully repaid in May 2023.  The amortization of debt issuance costs and discount is included in other expense within the accompanying consolidated statements of operations.Income TaxesThe Company provides for deferred income taxes under the asset and liability method, whereby deferred income taxes result from temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that the Company believes is more likely than not to be realized. The Company recognizes uncertain tax positions when the positions will be more likely than not sustained based solely upon the technical merits of the positions.Stock-Based CompensationThe Company measures and recognizes compensation expense for all stock-based payment awards made to employees, officers, directors, and non-employees based on the estimated fair values of the awards as of grant date.  The Company values equity instruments and stock options granted to employees and non-employees using the Black-Scholes valuation model. The value of the portion of the award that is ultimately expected to vest is recorded as expense over the requisite service periods.  The Company recognize forfeitures as they are incurred.Basic and Diluted Net (Loss) Income per Share of Common StockThe Company calculates net (loss) income per common share in accordance with ASC 260, Earnings Per Share. Basic net (loss) income per common share for the years ended December 31, 2024 and 2023 was determined by dividing net (loss) income applicable to common stockholders by the weighted average number of common shares outstanding during the period.  Per ASC 260, Earnings Per Share, the weighted average number of common shares outstanding utilized for determining the basic net (loss) income per common share for the years ended December 31, 2024 and 2023 includes the outstanding prefunded warrants to purchase 7,516,267 and 3,200,000 shares of common stock issued in the April 2022 Public Offering and December 2020 public offering, respectively.  Diluted net (loss) income per common share for the years ended December 31, 2024 and 2023 was determined as follows (in thousands, except share and per share amounts):

          Years Ended December 31,

          2024

          2023

          Net (loss) income allocated to common shares
          $
          (21,288