SCYNEXIS

SCYX

Medical - Pharmaceuticals · Healthcare

Price

$5.24

+0.04 (+0.77%)

Market Cap

$33.0M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+89.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 3.3M (2021) → 6.2M (2025)

SCYNEXIS is a small pharmaceutical company focused on developing and selling antifungal medicines. Its main product is Brexafemme (ibrexafungerp), a pill approved by the FDA to treat vaginal yeast infections in adults. The company targets women's health and also studies the drug for harder-to-treat fungal infections, including those caused by drug-resistant strains like Candida auris.

SCYNEXIS earns revenue by selling Brexafemme directly in the United States, primarily through retail pharmacies and healthcare providers. The 100% gross margin reflects a product-only revenue mix with no cost of goods offsetting sales, but the company still spends heavily on sales, marketing, and research, resulting in significant operating losses. Ibrexafungerp belongs to a new class of antifungals called triterpenoids, giving it a degree of scientific differentiation, but the key risk is whether commercial sales can grow fast enough to offset ongoing cash burn before the company needs additional financing.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-279.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$22M/ year

↓ Declining (-16% vs prior year)

108.2% of revenue

6.0x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

3.5%ownership

Relatively low insider ownership

Cash Runway

~2 years

$72M cash & investments

$72M cash & investments at current burn rate

Revenue declining

SCYNEXIS's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Operating Margin

-78.0%

Losing money on operations — -78.0%

ROCE

-32.6%

Weak — -32.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+449.9%

Fast-growing sales (+449.9% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

N/A

Data not available

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-25.6%

Burning cash (-25.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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