Business & Finance
SCYNEXIS incurs lower net loss of USD25.1m for 2017
14 March 2018 -

Biotechnology company SCYNEXIS Inc (NASDAQ:SCYX) disclosed on Tuesday that it recorded a net loss of USD25.1m (USD0.94 per share) for the year ended 31 December 2017.

This reflects a rise in earnings when compared with a net loss of USD30.0m (USD1.58 per share) in 2016.

Revenues of USD257,000 were collected in 2017 and 2016, respectively.

Research and development expenses of USD18.3m was recorded in 2017, a decline of 8.7% over R&D of USD20.1m in 2016.

The decrease in R&D in 2017 was primarily driven by a decrease in clinical development, a decrease in chemistry, manufacturing and controls (CMC), a decrease in consulting fees; offset by an increase in salary, personnel related costs and other research and development expenses.