Scynexis will conduct $40 million at-the-market offering of stock

Agent Cantor Fitzgerald conducts offering, will be paid 3% commission

By Devika Patel

Knoxville, Tenn., April 11 – Scynexis Inc. arranged a $40 million at-the-market sales agreement with Cantor Fitzgerald & Co. on April 11, according to a prospectus supplement and 8-K filed Monday with the Securities and Exchange Commission. The company terminated a similar Nov. 11 agreement with Cowen and Co., LLC on April 10.

Cantor Fitzgerald will be paid a 3% commission.

Proceeds will be used for working capital and general corporate purposes, including research and development, clinical trials, vendor payables, potential regulatory submissions, hiring additional personnel and capital expenditures.

The drug discovery and development company is based in Research Triangle Park, N.C.

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