NewsMV
The Biomedical Advanced Research and Development Authority (BARDA) has awarded SCYNEXIS, Inc. (NASDAQ: SCYX) a contract to advance the development of SCY-247.
This agreement provides up to approximately $214 million in potential non-dilutive funding if all contract options are exercised.
The contract is structured as a cost-share arrangement, with BARDA covering eligible direct and general administrative expenses for the program.
The initial base period of the contract allocates approximately $18.5 million to support the advancement of both oral and intravenous formulations of SCY-247 into a Phase 2 trial.
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