Scynexis shares surge 13.21% intraday after announcing $40M private placement and acquisition of ADPKD drug candidate SCY-770.

SCYNEXIS surged 13.21% intraday following the announcement of a $40.0 million private placement and the acquisition of SCY-770, a novel ADPKD treatment. The financing, led by institutional investors and including CEO participation, is expected to extend the company's cash runway into mid-2029. Concurrently, the acquisition of PXL-770 (now SCY-770) from Poxel SA, including milestone-based payments, strengthens SCYNEXIS's pipeline with a clinical-stage asset targeting a high-unmet-need disease. Both events signal significant progress in the company's development strategy and financial stability, aligning with the sharp intraday price increase.