Company: SCYX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038044
Chunk: 168

Company: SCYNEXIS INC
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 168
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 based on consolidated net (loss) income that also is reported on the consolidated statement of operations.  The CODM uses budget, forecast, and actual results of the consolidated net (loss) income in deciding what drug development programs to further progress with its existing and planned capital resources.  The measure of segment assets is reported on the balance sheet as consolidated assets.  The accounting policies of the drug development segment are the same as those described in the summary of significant accounting policies in Note 2.The drug development segment primarily derives revenues from customers by the out licensing of developed drugs which typically include development and other milestones and royalties.  Although all operations are primarily based in the United States, the Company generated the majority of its revenue from the license agreement with GSK located outside of the United States for the years ended December 31, 2024 and 2023.  All sales, including sales outside of the United States, are denominated in United States dollars.  In July 2019, the Company incorporated SCYNEXIS Pacific Pty Ltd, a wholly-owned subsidiary, in Sydney, Australia, for the initial purpose of conducting certain clinical trials and other research and development activities.  The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary.  Intercompany balances and transactions are eliminated in consolidation. The table below provides information about the Company's drug development segment and includes the reconciliation to consolidated net (loss) income for the years ended December 31, 2024 and 2023, respectively (in thousands).

        2024

        2023

        Revenue
         
        $
        3,746

        $
        140,141

        Less:

        Clinical expense

        8,085

        15,452

        Preclinical expense

        2,420

        1,740

        Chemistry, manufacturing, and controls

        7,161

        3,273

        Selling, general, and administrative

        14,458

        20,920

        Income tax expense

        151

        138

        Interest expense

        828

        3,130

        Plus:

        Interest income

        4,291

        3,954

        Other segment (income) expense (1)

        (3,778
        )

        32,401

        Segment net (loss) income

        (21,288
        )

        67,041

        Reconciliation of