SCYX - speculative catalyst play

Diupdate
SCYNEXIS Inc is a drug development company that focuses on the development and commercialization of novel anti-infectives to address unmet therapeutic needs. It is engaged in developing a product candidate, ibrexafungerp which is a novel oral and intravenous (IV) drug for the treatment of several fungal infections, including serious and life-threatening invasive fungal infections. The ibrexafungerp is a novel and structurally distinct triterpenoid glucan synthase inhibitor that is effective in vitro and in vivo against a broad range of Candida and Aspergillus species, including drug-resistant strains as well as Pneumocystis, Coccidioides, Histoplasma and Blastomyces genera and some common mucorales species.

Disclaimer: This is not financial advice.

Upcoming Event: Preclinical Data Release on 04/24/2024

This is a highly speculative investment opportunity.

Recent News Highlights:

SCYNEXIS has been reaffirmed a 'Buy' rating due to strong financials and promising pipeline prospects.

The 'Buy' rating was also reaffirmed based on the success of Ibrexafungerp and a strong partnership with GSK.

Key Price Levels to Watch:

Monitor the resistance levels at $1.70, $1.85, and $2.00. Breaking these levels could indicate a potential upward movement. Consider taking partial profits at these levels to secure gains.

Stop Loss (SL): Set below $1.30 to minimize risk.

Take Profit (TP): Target approximately $2.15.

Additional information can be found in the accompanying chart.

Please trade with caution.
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