Shares of SCYNEXIS (SCYX) have risen by 25% since my January update piece highlighted encouraging data from the FURI study and reiterated my expectations of near-term upside. The stock offered a nice run-up opportunity, with shares rising as high as 75% before pulling back over the past few months.
The company originally caught my attention due to the fact that its lead candidate is targeting a combined $1 billion opportunity in the United States alone, contrasting very favorably to the current valuation. With shares basing above the $1.20 level, it appears that a