Major Announcements in the Industry: Momentus Secures SpaceX Deal, Clearmind Medicine Receives Trial Approval, and SCYNEXIS Enters Exclusive License Agreement with GSK
- May 12th, 2023
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In recent updates, several companies have made significant announcements in their respective fields. Here's a breakdown of the latest developments:
Momentus Inc. (Nasdaq: MNTS) has entered into a contract with SpaceX, securing a port reservation on its Transporter-12 mission scheduled for launch no earlier than October 2024. This agreement marks an important milestone for Momentus, as they plan to fly on three missions with SpaceX in 2024, including all the Transporter rideshare missions slated for the following year. The market has responded positively to this news, with $MNTS trading at $0.49, reflecting a notable increase of $0.07 (+16.69%).
Clearmind Medicine Inc. (Nasdaq: CMND) has received Ethics Committee approval for its CM-CMND-001 Phase I/II clinical trial. This trial aims to evaluate the effectiveness of the MEAI-based CMND-100 compound in treating alcohol use disorder (AUD) at Israel's IMCA center. The approval represents a significant step forward for Clearmind Medicine Inc., as they strive to develop innovative solutions for AUD treatment. $CMND is trading at $0.67, showing a positive trend with an increase of $0.08 (+13.96%).
SCYNEXIS, Inc. (Nasdaq: SCYX) has made a groundbreaking announcement, entering into an exclusive license agreement with GSK plc (NYSE: GSK). This agreement grants GSK the rights to commercialize the novel antifungal medication BREXAFEMME (ibrexafungerp tablets) for the treatment of vulvovaginal candidiasis (VVC) and further develop ibrexafungerp for multiple indications in invasive and life-threatening fungal diseases. SCYNEXIS is set to receive an upfront payment of $90 million, along with potential milestone payments of up to $503 million and tiered royalties based on performance. Despite a slight decrease in pre-market trading, with $SCYX trading at $2.73 and a decrease of $0.02 (-0.72%), this strategic collaboration has substantial potential for both companies in the field of antifungal treatments.
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