aibioSCYNEXIS gets Nasdaq minimum bid price notice, has until December 17, 2025 to comply
Tickers SCYX
SCYNEXIS received a Nasdaq notice that its common stock closed below $1.00 for 30 consecutive business days. It has until December 17, 2025 to regain compliance, and the company says the letter has no immediate effect on its listing on the Nasdaq Global Market.
Key facts
- Company
- SCYNEXIS, Inc. (NASDAQ: SCYX)
- News type
- Listings
- Primary source
- SCYNEXIS INC Form 8-K filed June 26, 2025 (SEC EDGAR)
SCYNEXIS, Inc. (Nasdaq: SCYX) received a letter from the Listing Qualifications Department of Nasdaq on June 20, 2025. The letter says the company's closing bid price had been below the $1.00 per share minimum for 30 consecutive business days. The company disclosed the notice in a Form 8-K filed June 26, 2025 under Item 3.01, which covers notices of failure to meet a listing rule.
What the Nasdaq letter says
The minimum bid rule is Nasdaq Listing Rule 5450(a)(1), and it applies to companies on the Nasdaq Global Market, where SCYNEXIS's common stock is listed. The 8-K says the letter has no immediate effect on that listing. The common stock has a par value of $0.001 per share and trades under the symbol SCYX.
The 180-day compliance period
Under Nasdaq Listing Rule 5810(c)(3)(A), SCYNEXIS has 180 calendar days from June 20, 2025, or until December 17, 2025, to regain compliance. The 8-K calls that date the Compliance Date. If the closing bid price is at least $1.00 a share for a minimum of 10 consecutive business days before then, Nasdaq will confirm compliance in writing and the matter will be closed.
If the company misses the date
If SCYNEXIS is not compliant by the Compliance Date, it may move from the Nasdaq Global Market to the Nasdaq Capital Market and may be eligible for another 180 calendar days. To qualify, it must meet the continued listing requirement for the market value of its publicly held shares, meet the other initial listing requirements for the Capital Market except the bid price, and give Nasdaq written notice that it will cure the bid price deficiency in that second period. The cure may be a reverse stock split, if necessary.
If the company does not qualify, or if Nasdaq concludes it cannot cure the deficiency, Nasdaq will give written notice that the common stock will be subject to delisting. SCYNEXIS could then appeal to a Nasdaq Hearings Panel. The 8-K says there can be no assurance that such an appeal would succeed.
What the company says it will do
SCYNEXIS says it will keep monitoring its closing bid price and will evaluate available options to resolve the deficiency and regain compliance. The filing also says there can be no assurance that the company will regain compliance with Rule 5450(a)(1), or that it will meet other Nasdaq listing rules.
The 8-K does not name a reverse split, a financing or any other step, and it does not say whether the company has decided on one.
Who signed and where
Chief Executive Officer David Angulo, M.D., signed the 8-K on June 26, 2025. The filing lists the principal executive offices at 1 Evertrust Plaza, 13th Floor, in Jersey City, New Jersey, and the commission file number as 001-36365. SCYNEXIS is a Delaware corporation.
The business behind the stock
The 8-K gives no closing price, share count or cash figure. SCYNEXIS's annual report for 2024 describes an antifungal platform of triterpenoids it calls fungerps. Its first compound, ibrexafungerp, won FDA approval as BREXAFEMME for vulvovaginal candidiasis in June 2021 and for reducing recurrent cases in December 2022. In March 2023 the company licensed the drug to GSK and received an upfront payment of $90.0 million.
The product has since been recalled. After a review of the vendor that makes the drug substance, SCYNEXIS learned that a non-antibacterial beta-lactam drug substance had been made on equipment common to its manufacturing process, which raises a risk of cross contamination. The company says it has received no reports of adverse events. On GSK's recommendation it recalled BREXAFEMME and placed a temporary hold on its clinical studies, including the Phase 3 MARIO study. The amended GSK license cut regulatory approval milestones from up to $70 million to up to $49 million. A second-generation compound, SCY-247, began a Phase 1 study in the fourth quarter of 2024.