SCYNEXIS Inc (NASDAQ: SCYX)
SCYNEXIS is having an incredibly strong start to the trading session today, and for good reason. The company that is working on a treatment for invasive infections is getting a boost as the infections make their way into the United States. Below, we’ll talk about the news, what we’re seeing from SCYX, and what we’ll be watching for ahead.
SCYX Gets A Boost As Deadly Infection Crosses US Border
As mentioned above, SCYNEXIS is having an incredible time in the market at the moment after news that a deadly fungal infection has made its way to the United States. The fungal infection, known as candida infection has been seen in nearly 3 dozen cases in the United States. The infection is highly drug resistant and has caused loss of life around the world. It has been reported in Colombia, India, Israel, Kenya, Kuwait, Pakistan, South Korea, Venezuela, and now the United States.
So, where does SCYX come in in all of this? Well, the company is currently working on a Phase II clinical trial for the treatment of these infections. Considering the ongoing threat that has now hit the United States, this will likely lead to an accelerated path to approval, leading to excitement among investors.
How The Stock Is Reacting To The News
As investors, we know that the news moves the market. Any time positive news is released with regard to a publicly traded company, we can expect to see gains. While this news is far from positive on a global scale, it is indeed positive for the company. As a result, SCYX is currently (10:23) trading at $2.70 per share after a gain of $0.21 per share or 8.36% thus far today.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SCYX. In particular, we’re watching to see how the spread of the fungal infection known as candida into the United States affects the regulatory process associated with the treatment that the company is working on. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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[Image Courtesy of Wikipedia]