Company: SCYX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038044
Chunk: 141

Company: SCYNEXIS INC
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 141
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2” inputs, which consist of quoted prices for similar assets in active markets.  The Company has evaluated the unrealized loss position in the corporate bonds as of the balance sheet dates and did not consider it to be indicative of an other-than-temporary impairment as the securities are highly-rated and the Company expects to realize the full principal amount at maturity.  

4.Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consisted of the following (in thousands): 

        December 31,

        2024

        2023

        Prepaid research and development services
         
        $
        514

        $
        196

        Prepaid insurance

        267

        264

        Other prepaid expenses

        169

        182

        Other current assets

        1,234

        4,906

        Total prepaid expenses and other current assets
         
        $
        2,184

        $
        5,548

5.Accrued ExpensesAccrued expenses consisted of the following (in thousands):

        December 31,

        2024

        2023

        Accrued research and development expenses
         
        $
        684

        $
        2,830

        Accrued employee bonus compensation

        1,763

        1,692

        Other accrued expenses

        788

        1,040

        Accrued product recall

        558

        1,933

        Total accrued expenses
         
        $
        3,793

        $
        7,495

6.BorrowingsMarch 2019 Note Purchase AgreementOn March 7, 2019, the Company entered into a Senior Convertible Note Purchase Agreement (the “March 2019 Note Purchase Agreement”) with Puissance.  Pursuant to the March 2019 Note Purchase Agreement, on March 7, 2019, the 

70

Company issued and sold to Puissance $16.0 million aggregate principal amount of its March 2019 Notes, resulting in $14.7 million in net proceeds after deducting $1.3 million for an advisory fee and other issuance costs.  As of December 31, 2024 and 2023, the Company’s March 2019 Notes consists of the convertible debt balance of $13.7 million and $12.0 million and the bifurcated embedded conversion option derivative liability of zero