Scynexis Inc (NASDAQ: SCYX)

Sector: Healthcare Industry: Drug Manufacturers - Specialty & Generic CIK: 0001178253
Market Cap 37.70 Mn
P/B 1.03
P/E -1.49
P/S 12.86
ROIC (Qtr) -80.94
Div Yield % 0.00
Rev 1y % (Qtr) -49.39
Total Debt (Qtr) 2.28 Mn
Debt/Equity (Qtr) 0.06

About

SCYNEXIS INC (SCYX) is a biopharmaceutical company that operates in the healthcare and life sciences industry. Its primary business activities revolve around the development of a proprietary antifungal platform, which includes a novel class of antifungal agents called triterpenoids. The company's main focus is to create innovative medicines that can overcome and prevent difficult-to-treat and drug-resistant infections. SCYNEXIS INC generates revenue primarily through licensing agreements and collaborations with other companies. A significant development...

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Price action

Investment thesis

Bull case

  • Healthy cash reserves of 14.99M provide 32.37x coverage of short-term debt 463000, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 51.07M provides 22.36x coverage of total debt 2.28M, indicating robust asset backing and low credit risk.
  • Tangible assets of 51.07M provide exceptional 19.86x coverage of deferred revenue 2.57M, showing strong service capability backing.
  • Short-term investments of 23.13M provide solid 5.10x coverage of other current liabilities 4.54M, indicating strong liquidity.
  • Tangible assets of 51.07M provide robust 11.25x coverage of other current liabilities 4.54M, indicating strong asset backing.

Bear case

  • Operating cash flow of (33.59M) barely covers its investment activities of 33.51M, with a coverage ratio of -1, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Operating cash flow of (33.59M) provides insufficient coverage of deferred revenue obligations of 2.57M, which is -13.06x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (33.59M) shows concerning coverage of stock compensation expenses of 3.15M, with a -10.68 ratio indicating potential earnings quality issues.
  • Operating cash flow of (33.59M) provides minimal -1460.48x coverage of tax expenses of 23000, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Operating cash flow of (33.59M) is outpaced by equity issuance of 55000 (-610.75 ratio), indicating concerning reliance on equity markets for funding operations.

Product and Service Breakdown of Revenue (2024)

Peer comparison

Companies in the Drug Manufacturers - Specialty & Generic
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ZTS Zoetis Inc. 60.50 Bn 29.70 7.78 7.27 Bn
2 TAK Takeda Pharmaceutical Co Ltd 56.17 Bn 77.42 1.96 36.56 Bn
3 HLN Haleon plc 50.10 Bn 27.80 3.57 -
4 TEVA Teva Pharmaceutical Industries Ltd 39.77 Bn 28.20 2.30 17.09 Bn
5 UTHR UNITED THERAPEUTICS Corp 21.67 Bn 17.04 6.93 0.00 Bn
6 VTRS Viatris Inc 17.75 Bn 22.09 1.06 14.44 Bn
7 NBIX Neurocrine Biosciences Inc 14.02 Bn 32.76 5.23 0.43 Bn
8 RGC Regencell Bioscience Holdings Ltd 13.94 Bn -3,890.00 0.00 -

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.56 32.39
EV to Cash from Ops. EV/CFO -0.86 -110.47
EV to Debt EV to Debt 12.62 345.43
EV to EBIT EV/EBIT -1.16 -42.53
EV to EBITDA EV/EBITDA -0.83 -44.40
EV to Free Cash Flow [EV/FCF] EV/FCF -0.86 -54.30
EV to Market Cap EV to Market Cap 0.76 -3.42
EV to Revenue EV/Rev 9.83 -1,175.08
Price to Book Value [P/B] P/B 1.03 36.75
Price to Earnings [P/E] P/E -1.49 -135.15
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.00 0.36
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.49
Dividend per Basic Share Div per Share (Qtr) 0.00 0.07
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 3.93
Interest Coverage Int. cover (Qtr) -64.83 -38.53
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 0.00 -148.82
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -48.81 45,342.22
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 2.85
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 30.01 27.06
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 33.41 19.86
EBIT Growth (1y) % EBIT 1y % (Qtr) 29.54 86.71
EBT Growth (1y) % EBT 1y % (Qtr) 30.11 84.03
EPS Growth (1y) % EPS 1y % (Qtr) 32.89 -17.49
FCF Growth (1y) % FCF 1y % (Qtr) -53.83 -53.73
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 147.92 26.02
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.06 0.50
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.02
Cash Ratio Cash Ratio (Qtr) 1.77 2.11
Current Ratio Curr Ratio (Qtr) 5.75 3.95
Debt to Equity Ratio Debt/Equity (Qtr) 0.06 -1.12
Interest Cover Ratio Int Coverage (Qtr) -64.83 -38.53
Times Interest Earned Times Interest Earned (Qtr) -64.83 -38.53
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -849.00 -63,232.43
EBIT Margin % EBIT Margin % (Qtr) -849.01 -64,062.36
EBT Margin % EBT Margin % (Qtr) -862.11 -67,582.30
Gross Margin % Gross Margin % (Qtr) 100.00 8,439.27
Net Profit Margin % Net Margin % (Qtr) -862.90 -67,583.72