Stocks of SCYNEXIS Inc (NASDAQ:SCYX) are currently on the uptick as the antibiotic company has several late stage Phase 3 catalyst coming up at the end of this year. Today, they announced that enrollment in these trial is going way better than expected. That is a great sign for when/if their drug gets eventual approval. It means there is a lot of use for the drug! As a savvy trader, one should buy the hype and sell on news. It would be interesting to see if SCYX garners attention before the data is set to come out in early October/November. I think this has strong potential to run up to $1.60+ for close to a 50% win, if conditions are good in the market.
“I am proud to report that our VVC clinical studies are progressing ahead of schedule, showing the execution strength of our team. The last patient has completed her last visit in our first Phase 3 study, VANISH 303, and we now expect top-line data by the end of this year,” said Marco Taglietti, M.D., President and Chief Executive Officer of SCYNEXIS. “Additionally, enrollment is also advancing ahead of expectations in our second Phase 3 study, VANISH 306, with data now anticipated in early second quarter of 2020.”
Dr. Taglietti continued, “The rapid enrollment observed in our VVC studies reaffirms our belief that a large number of patients and their treating physicians are not satisfied with existing therapies and are looking for alternatives. It provides validation of our VVC commercial expectations for ibrexafungerp, as a non-azole, fungicidal, oral agent. We remain on-track for a New Drug Application (NDA) submission in the second half of 2020.”