Poxel To Sell PXL770 To Scynexis For Up To $196 Mln; Shares Up

Poxel agreed to sell its drug candidate PXL770 to Scynexis for up to $196 million. The transaction monetizes a clinical-stage asset and provides Poxel with potential non-dilutive proceeds up to $196M, lowering its development exposure. The deal should strengthen Poxel's balance sheet and could move the individual equities by a few percent on the news.

Analysis

Poxel agreed to sell its drug candidate PXL770 to Scynexis for up to $196 million. The transaction monetizes a clinical-stage asset and provides Poxel with potential non-dilutive proceeds up to $196M, lowering its development exposure. The deal should strengthen Poxel's balance sheet and could move the individual equities by a few percent on the news.