IV formulation of Scynexis' lead antifungal gets sidelined by the FDA as regulators probe blood clots
Shares of the microcap biotech Scynexis $SCYX were bloodied this evening after the FDA ordered investigators to slam the brakes on any studies of an IV formulation of its lead drug after three healthy volunteers experienced blood clots.
The FDA ordered the halt so regulators could complete a review of all available pre-clinical and clinical data of the IV formulation of SCY-078, an anti-fungal. And its shares quickly plunged 30% on the news. The microcap had a market cap of $78 million at the close, ahead of the sharp drop.
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