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JERSEY CITY, N.J. - SCYNEXIS, Inc. (NASDAQ: SCYX), a biotech company with a market capitalization of $31.52 million focused on developing innovative antifungal medications, has presented promising preclinical data for its antifungal candidate SCY-247 at the European Society of Clinical Microbiology and Infectious Diseases (ESCMID Global) in Vienna, Austria. The data highlights SCY-247's potential effectiveness against multi-drug resistant fungi, including difficult-to-treat strains like Candida auris. According to InvestingPro data, analysts maintain a strong buy consensus on the stock, with price targets ranging from $4 to $7.
The studies presented during the conference on Saturday showcased SCY-247's antifungal activity against a range of clinical yeast isolates. One study from the University of Texas, Houston, indicated that SCY-247 was effective against Candida species, which are common in hospital infections in the U.S. Another study from a hospital in Madrid showed that SCY-247 retained its activity against most strains resistant to current antifungal treatments, although some Candida glabrata isolates with specific mutations presented challenges.
SCY-247, a second-generation fungerp, is part of a new class of glucan synthase inhibitors and is currently in Phase 1 development. It has demonstrated broad-spectrum in vitro and in vivo antifungal activity, including against multidrug-resistant pathogens. SCYNEXIS anticipates potential Fast Track and Qualified Infectious Disease Product designations from the U.S. Food and Drug Administration for both IV and oral formulations of SCY-247.
The company's proprietary platform fungerps is part of its broader mission to address antimicrobial resistance (AMR) in systemic fungal diseases, which are associated with high mortality rates. SCY-247 represents a significant development since it belongs to the first new class of antifungal compounds approved since 2001, offering potential flexibility with oral and intravenous formulations. SCYNEXIS's first fungerp, ibrexafungerp, has already received FDA approval for two indications related to vulvovaginal candidiasis. InvestingPro analysis shows the company maintains a healthy financial position with a current ratio of 3.0 and more cash than debt on its balance sheet, providing runway for its development programs. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial metrics to make informed investment decisions.
This information is based on a press release statement from SCYNEXIS. For further details on the studies and SCY-247, interested parties are directed to the ESCMID website and the company's website at www.scynexis.com. Based on InvestingPro Fair Value analysis, SCYNEXIS currently appears undervalued, presenting a potential opportunity for investors interested in the biotech sector. Discover more undervalued opportunities at Investing.com's Most Undervalued Stocks.
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