Company: SCYX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038044
Chunk: 196

Company: SCYNEXIS INC
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 196
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  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 Activities

The $84.2 million decrease in net cash (used in) provided by operating activities for the year ended December 31, 2024, as compared to the year ended December 31, 2023, was primarily due to the $115.0 million in upfront and development milestones received under the GSK License Agreement in the prior period and the continued development costs associated with SCY-247 and ibrexafungerp in the year ended December 31, 2024, offset in part by the $10.0 million development milestone received under the GSK License Agreement in the year ended December 31, 2024.

52

Net cash used in operating activities of $24.0 million for the year ended December 31, 2024, primarily consisted of the $21.3 million net loss adjusted for non-cash charges that included the gain on change in fair value of the warrant liabilities of $13.8 million, stock-based compensation expense of $3.3 million, accretion of investment discount of $1.3 million, and the amortization of debt issuance costs and discount of $1.7 million