Scynexis Inc (NASDAQ:SCYX), a clinical‑stage biotechnology company, announced a 1‑for‑8 reverse stock split that will become effective on 29 May 2026.
The reverse split is intended to bring the company into compliance with the Nasdaq Capital Market minimum bid‑price requirement.
Outstanding shares will be reduced from approximately 79.5 million to approximately 9.9 million; authorized shares will be reduced from 150 million to 18.75 million, with no change to par value per share.
All stock options, restricted stock units (RSUs) and warrants will be proportionally adjusted, resulting in a corresponding increase in exercise prices; fractional shares will be cash‑settled.
Equiniti Trust Company has been appointed as the exchange agent for the reverse split. Shareholders holding shares through banks, brokers or other nominees will have their positions automatically adjusted.
Following the announcement, SCYX shares fell about 7% in after‑hours trading on 23 May 2026.
