Published on 12 Apr 2023 on Simply Wall St. via Yahoo Finance

We Might See A Profit From SCYNEXIS, Inc. (NASDAQ:SCYX) Soon

SCYNEXIS, Inc. (NASDAQ:SCYX) is possibly approaching a major achievement in its business, so we would like to shine some light on the company. SCYNEXIS, Inc., a biotechnology company, develops products for the treatment of fungal infections in the United States. The US$110m market-cap company announced a latest loss of US$63m on 31 December 2022 for its most recent financial year result. As path to profitability is the topic on SCYNEXIS' investors mind, we've decided to gauge market sentiment. Below we will provide a high-level summary of the industry analysts’ expectations for the company.

See our latest analysis for SCYNEXIS

Consensus from 6 of the American Pharmaceuticals analysts is that SCYNEXIS is on the verge of breakeven. They expect the company to post a final loss in 2022, before turning a profit of US$47m in 2023. So, the company is predicted to breakeven approximately 12 months from now or less. How fast will the company have to grow to reach the consensus forecasts that anticipate breakeven by 2023? Working backwards from analyst estimates, it turns out that they expect the company to grow 29% year-on-year, on average, which is rather optimistic! If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict.