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SCNI

Scinai Immunotherapeutics Ltd.

SCNI

Scinai Immunotherapeutics Ltd. • NASDAQ
$0.96 ▲ 2.58% (+0.02)
Market Cap $1.26 M
52w High $6.18
52w Low $0.86
Dividend Yield 0%
P/E 0.24
Volume 108
Outstanding Shares 1.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $386.5K $1.246M ▼ $-2.067M ▼ -534.799% ▼ $-1.2 $-1.53M ▼
Q1-2025 $386.5K ▲ $1.787M ▼ $-1.549M ▲ -400.776% ▲ $-1.2 ▲ $-841K ▲
Q4-2024 $206K ▲ $2.096M ▼ $-2.23M ▼ -1.083K% ▼ $-5.6 ▼ $-1.667M ▼
Q3-2024 $168K ▼ $2.171M ▲ $10.455M ▲ 6.223K% ▲ $12.4 ▲ $12.837M ▲
Q2-2024 $284K $-4.119M $-2.322M -817.606% $-3.6 $-1.531M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $989K $11.84M $3.982M $7.858M
Q1-2025 $989K ▼ $11.84M ▼ $3.982M ▲ $7.858M ▼
Q4-2024 $1.964M ▲ $13.448M ▲ $3.471M ▲ $9.977M ▼
Q3-2024 $1.032M ▼ $12.261M ▼ $2.258M ▼ $10.003M ▲
Q2-2024 $3.076M $14.851M $22.135M $-7.284M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-2.067M $-1.288M $-6K $790.5K $0 ▲ $-1.294M
Q1-2025 $-2.067M ▲ $-1.288M ▼ $-6K ▼ $790.5K ▼ $-2.095M ▼ $-1.294M ▼
Q4-2024 $-2.23M ▼ $-1.076M ▲ $-22.769 ▲ $2M ▲ $926K ▲ $-1.076M ▲
Q3-2024 $10.486M ▲ $-2.038M ▼ $-4K ▲ $8K ▼ $-2.045M ▼ $-2.042M ▼
Q2-2024 $-2.322M $-1.758M $-6K $12K $-1.752M $-1.764M

Five-Year Company Overview

Income Statement

Income Statement Scinai is still essentially a pre‑revenue biotech. Over the past several years, it has not generated meaningful product sales, and results mainly reflect research, corporate, and operating expenses. Losses at the operating and net income levels have been recurring, though they appear to have narrowed recently and are now close to break‑even on an accounting basis. The large swings in earnings per share are driven more by share structure changes (reverse splits and capital actions) than by changes in the underlying business. Overall, the income statement shows an early‑stage company still in the investment phase rather than a business generating steady commercial income.

Balance Sheet

Balance Sheet The balance sheet is very small and quite lean, with modest total assets and only limited cash on hand. Historically, the company has used debt, but recent figures suggest that borrowings have been reduced and equity has been rebuilt, likely through capital raises. The equity base is positive but thin, which is typical for a micro‑cap biotech that has not yet commercialized products. This structure underlines both the flexibility and the vulnerability of the company: there is not much balance‑sheet buffer, so access to external funding remains important.

Cash Flow

Cash Flow Cash flows show a consistent pattern of cash being used rather than generated. Operating cash flow has been steadily negative, reflecting ongoing R&D, staffing, and overhead costs without offsetting revenue. Free cash flow is similarly negative, with little or no spending on long‑lived assets, which suggests the main outlays are for people, trials, and day‑to‑day operations. This is standard for a clinical‑stage biotech, but it means the business depends on financings, partnerships, or eventual CDMO income to sustain operations.

Competitive Edge

Competitive Edge Scinai operates in an intensely competitive biotech landscape but is trying to differentiate itself in two ways: its NanoAb antibody platform and its boutique CDMO services. The NanoAb technology, backed by collaborations with strong academic institutions, targets specific immunology and dermatology niches where smaller, more stable antibodies and local delivery could matter. At the same time, the CDMO unit positions Scinai as a specialized manufacturing partner for early‑stage biologics companies, offering more tailored service than large contract manufacturers. The strengths are clear—unique science, respected partners, and a focused service angle—but the company still competes against much larger, better‑funded players in both drug development and CDMO, and its size and early stage are important constraints.

Innovation and R&D

Innovation and R&D Innovation is the core of Scinai’s story. The NanoAb platform, based on very small, engineered antibodies, aims to improve tissue penetration, stability, and manufacturing flexibility compared with traditional antibodies. Lead programs in psoriasis and other inflammatory and respiratory diseases are still pre‑clinical or early clinical and will need years of development and validation. The partnership with the Max Planck Institute and related centers provides a pipeline of candidate molecules and scientific credibility, while patent filings on multiple new NanoAbs show continued R&D momentum. However, all of this remains high‑risk: none of the programs has yet proven itself in late‑stage trials, and timelines stretch well into the future before any potential large commercial impact.

Summary

Scinai is a very early‑stage, science‑driven biotech with a dual model: develop its own NanoAb‑based therapies and grow a niche CDMO business to help fund that work. Financially, it is still in the investment phase, with no meaningful revenue, ongoing cash burn, and a small but positive equity base that likely depends on capital raises and partnerships. Strategically, its edge lies in differentiated antibody technology, strong academic collaborations, and a specialized manufacturing offering rather than scale. The main opportunities are successful clinical progress of its NanoAb pipeline and a ramp‑up of CDMO revenues; the main risks are execution challenges, funding needs, clinical trial uncertainty, and competition from much larger biotech and CDMO firms. Overall, this is a high‑risk, high‑uncertainty story typical of micro‑cap biotech companies long before commercial maturity.

NEWS

October 6, 2025 · 7:30 AM UTC

Scinai Awarded Israel Innovation Authority Grant to Expand Fill-and-Finish CDMO Capabilities

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September 2, 2025 · 7:30 AM UTC

Scinai Reports Six-Month 2025 Financial Results Highlighting Continued CDMO Revenue Growth and Strengthened Balance Sheet

Read more