SCYNEXIS First Quarter 2024 Earnings: Beats Expectations

SCYNEXIS (NASDAQ:SCYX) First Quarter 2024 Results

Key Financial Results

• Revenue: US$1.37m (up 22% from 1Q 2023).
• Net income: US$411.0k (up from US$33.9m loss in 1Q 2023).
• Profit margin: 30% (up from net loss in 1Q 2023). The move to profitability was primarily driven by lower expenses.
• EPS: US$0.009 (up from US$0.71 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

SCYNEXIS Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates significantly. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is expected to decline by 4.0% p.a. on average during the next 3 years, while revenues in the Pharmaceuticals industry in the US are expected to grow by 9.4%.

Performance of the American Pharmaceuticals industry.

The company's shares are up 6.2% from a week ago.

Risk Analysis

You still need to take note of risks, for example - SCYNEXIS has 4 warning signs (and 1 which is potentially serious) we think you should know about.

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