Why Scynexis Shares Are Falling During Thursday's After-Hours Session

SCYNEXIS Inc SCYX shares are trading lower after the company announced a public offering of common stock. The size of the offering was not disclosed.

Scynexis says all of the shares of common stock and warrants in the offering will be sold by Scynexis. The company added that the offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.

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Scynexis is a drug development company that focuses on the development and commercialization of novel anti-infectives to address significant unmet therapeutic needs.

According to data from Benzinga Pro, Scynexis has a 52-week high of $10.25 and a 52-week low of $3.11.