SCYNEXIS shares are trading lower after the company announced it is recalling BREXAFEMME and temporarily halting clinical studies of ibrexafungerp due to the risk of cross contamination with a non-bacterial beta-lactam drug substance during the manufacturing process.
Portfolio Pulse from Benzinga Newsdesk
SCYNEXIS has announced a recall of BREXAFEMME and a temporary halt to clinical studies of ibrexafungerp due to the risk of cross contamination with a non-bacterial beta-lactam drug substance. This has led to a decrease in the company's share price.
September 25, 2023 | 1:20 pm
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NEGATIVE IMPACT
SCYNEXIS's recall of BREXAFEMME and halt of ibrexafungerp studies due to contamination risk has negatively impacted its share price.
The recall of a product and halt of clinical studies can be seen as negative news for a pharmaceutical company like SCYNEXIS. This could lead to a loss of potential revenue and increased costs, which can negatively impact the company's financial performance and thus its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100