SCYNEXIS Announces $25M First Development Milestone Under Exclusive License Agreement With GSK
Portfolio Pulse from Benzinga Newsdesk
SCYNEXIS has announced a $25 million first development milestone under its exclusive license agreement with GSK. This milestone payment is part of the collaboration between the two companies to develop and commercialize ibrexafungerp, a novel antifungal agent.
June 21, 2023 | 11:13 am
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GSK has made a $25 million milestone payment to SCYNEXIS under their exclusive license agreement for the development of ibrexafungerp.
While the milestone payment indicates progress in the collaboration with SCYNEXIS, the amount is relatively small for a company the size of GSK. The news is unlikely to have a significant impact on GSK's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 60
POSITIVE IMPACT
SCYNEXIS receives $25M milestone payment from GSK under their exclusive license agreement for the development of ibrexafungerp.
The $25M milestone payment is a significant revenue source for SCYNEXIS and demonstrates progress in their collaboration with GSK. This news is likely to have a positive impact on SCYX's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100