Company: SCYX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038044
Chunk: 112

Company: SCYNEXIS INC
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 112
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 a loss of $0.2 million, respectively, in the fair value adjustment related to the derivative liability primarily due to the decrease and increase in our stock price during the periods, respectively.

Income Tax Expense.  For the year ended December 31, 2024, we recognized $0.2 million in income tax expense primarily for U.S. federal income tax.

Liquidity and Capital Resources

Sources of Liquidity

As of December 31, 2024, we had cash, cash equivalents, and investments of approximately $75.1 million, compared to cash, cash equivalents, and investments of $98.0 million as of December 31, 2023.  We believe our capital resources are sufficient to fund our on-going operations for a period of at least 12 months subsequent to the issuance of the accompanying consolidated financial statements.

As of December 31, 2024, our accumulated deficit was $376.5 million. We anticipate that we will continue to incur losses for at least the next several years.  Consistent with our operating plan, we expect to incur significant research and development expenses and selling, general and administrative expenses.  As a result of our continued significant expenses, we may need additional capital to fund our operations, which we may obtain through one or more of equity offerings, debt financings, or other non-dilutive third-party funding, strategic alliances and licensing or collaboration arrangements. 

Cash Flows

The following table sets forth the significant sources and uses of cash for the years ended December 31, 2024 and 2023 (dollars in thousands):

    Years Ended December 31,

    2024

    2023

    Cash, cash equivalents, and restricted cash, January 1
     
    $
    34,593

    $
    46,032

    Net cash (used in) provided by operating activities

    (24,009
    )

    60,159

    Net cash provided by (used in) investing activities

    6,150

    (34,877
    )

    Net cash used in financing activities

    (139
    )

    (36,721
    )

    Net decrease in cash, cash equivalents, and restricted cash

    (17,998
    )

    (11,439
    )

    Cash, cash equivalents, and restricted cash, December 31
     
    $
    16,595

    $
    34,593

Operating