Company: SCYX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038044
Chunk: 145

Company: SCYNEXIS INC
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 145
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 15
        %
       
        Future minimum lease payments for all operating leases as of December 31, 2024 are as follows (in thousands): 

        December 31, 2024

        2025

        744

        2026

        759

        2027

        774

        2028

        790

        2029

        466

        Total
         
        $
        3,533

      The presentation of the operating lease liability as of December 31, 2024 is as follows (in thousands):

        December 31, 2024

        Present value of future minimum lease payments
         
        $
        2,582

        Operating lease liability, current portion
         
        $
        407

        Operating lease liability, long-term portion

        2,175

        Total operating lease liability
         
        $
        2,582

        Difference between future minimum lease payments and discounted cash flows
         
        $
        951

      License Arrangements with Potential Future ExpendituresAs of December 31, 2024, the Company had a license arrangement with Merck Sharp & Dohme Corp., or Merck, as amended, that involves potential future expenditures. Under the license arrangement, executed in May 2013, the Company exclusively licensed from Merck its rights to ibrexafungerp in the field of human health.  In January 2014, Merck assigned the patents related to ibrexafungerp that it had exclusively licensed to the Company.  Ibrexafungerp is the Company's lead product candidate. Pursuant to the terms of the license agreement, Merck was originally eligible to receive milestone payments from the Company that could total $19.0 million upon occurrence of specific events, including initiation of a Phase 2 clinical study, new drug application, and marketing approvals in each of the U.S., major European markets, and Japan. In addition, Merck is eligible to receive tiered royalties from the Company based on a percentage of worldwide net sales of ibrexafungerp. The aggregate royalties are mid- to high-single digits. In December 2014, the Company and Merck entered into an amendment to the license agreement that deferred the remittance of a milestone payment due to Merck, such that no amount would be due upon initiation of the first Phase 2 clinical trial of a product containing the ibrexaf