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SCYNEXIS Announces Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
JERSEY CITY, N.J., May 06, 2026 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (Nasdaq: SCYX) (“SCYNEXIS” or the “Company”), a biotechnology company focused on developing innovative new therapies to address severe rare diseases including SCY-770 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), today announced that on April 30, 2026, the Compensation Committee of the Company’s Board of Directors approved inducement equity awards for a new Vice President in connection with the commencement of employment with the Company. The awards were granted as a material inducement to the employee’s acceptance of employment and were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The awards were granted pursuant to SCYNEXIS’ 2015 Inducement Award Plan, as amended, which was adopted by the Company’s Board of Directors in March 2015 under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the Company.
The inducement awards consist of stock options to purchase 125,000 shares of the Company’s common stock at a per share exercise price of $0.93, the closing price per share of the Company’s common stock as reported by Nasdaq on April 30, 2026, and restricted stock units (“RSUs”) covering 20,000 shares of the Company’s common stock. The employee’s stock options have a vesting commencement date of April 13, 2026, vest over a four-year period, with 25% of the shares underlying the option vesting on the on-year anniversary of the vesting commencement date, and the remaining shares vest in equal monthly installments thereafter over 36 months, subject to the employee’s continued service with the Company. The employee’s RSUs have a vesting commencement date of June 15, 2026, and vest in three equal annual installments over a three-year period, subject to the employee’s continued service through each applicable vesting date.
About SCYNEXIS, Inc.
SCYNEXIS, Inc. (NASDAQ: SCYX) is dedicated to advancing innovative solutions for severe rare diseases. SCY-770 is being developed for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD) and has been granted Orphan Drug designation. SCYNEXIS’s proprietary antifungal platform “fungerps” includes BREXAFEMME® (ibrexafungerp tablets), the first approved representative of this novel class, which has been licensed to GSK, and SCY-247, currently in clinical stages of development. For more information, visit www.scynexis.com.
CONTACT:
Investor Relations
LifeSci Advisors
John Fraunces
T: 917-355-2395
jfraunces@lifesciadvisors.com
Source: Scynexis
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