Why Are Antifungal Focused Scynexis Stock Plunging Today?
Portfolio Pulse from Vandana Singh
Scynexis Inc (NASDAQ:SCYX) is recalling its antifungal pill, Brexafemme, and placing a hold on clinical studies due to the risk of cross-contamination with a potential allergy-inducing compound. This has led to a 34.40% drop in SCYX shares. In March, GSK plc (NYSE:GSK) and Scynexis entered an exclusive license agreement for Brexafemme.
September 25, 2023 | 3:53 pm
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NEGATIVE IMPACT
Scynexis's recall of its antifungal pill and the halt of clinical studies has led to a significant drop in its stock price.
The recall of a product and halt of clinical studies is a significant negative event for a pharmaceutical company, leading to a drop in stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
GSK plc has an exclusive license agreement with Scynexis for Brexafemme.
While GSK has a license agreement with Scynexis, the news does not directly indicate any impact on GSK's stock price.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50