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

Rhea-AI Summary

Scinai Immunotherapeutics (NASDAQ: SCNI) reported its H1 2025 financial results, showcasing growth in its CDMO business. Revenues reached $773,000, up from $284,000 in H1 2024, while net loss decreased to $4.13 million from $4.48 million.

The company strengthened its balance sheet through a $4.2 million raise via its Standby Equity Purchase Agreement. CDMO operations generated $1.0 million in total orders for 2025, with $850,000 already invoiced. R&D initiatives include advancing anti-IL-17 NanoAb programs, pursuing EU grant funding, and exploring an acquisition opportunity with PinCell srl.

Positive

• None.

Negative

• Low cash position of $989,000 as of June 30, 2025
• Marketing, general and administrative expenses increased by 25% to $1.26 million
• Dependent on future grant funding for clinical trials
• Continued operating losses

Insights

Biotech Financial Analyst

Scinai shows 172% CDMO revenue growth amid reduced R&D expenses, with a strengthened cash position but continued operational losses.

Scinai's H1 2025 results reveal a 172% year-over-year revenue increase to $773,000 from their CDMO (Contract Development and Manufacturing Organization) business, showing promising growth in this segment. Their U.S. subsidiary contributed $421,000, representing approximately 54% of total revenues.

Despite this revenue growth, Scinai remains in a loss-making position with a net loss of $4.13 million for H1 2025. This represents a modest 7.7% improvement from the $4.48 million loss in H1 2024. The reduced loss stems primarily from significantly lower R&D expenses, which decreased by 55.6% to $1.24 million, attributed to reduced allocation of wages and facilities to R&D activities rather than strategic research advancement.

The company's cash position was concerning at just $989,000 as of June 30, but the subsequent $4.2 million raised through their Standby Equity Purchase Agreement with Yorkville Advisors provides essential breathing room. This financing addresses immediate liquidity concerns but does not fully resolve long-term sustainability without significant revenue growth or reduced expenses.

On the development front, Scinai is pursuing an interesting dual approach with their anti-IL-17 NanoAb program, targeting both localized and systemic psoriasis treatments. Their strategy of pursuing European grant funding (€15 million from the EU STEP program and potentially more from FENG) appears to be central to their clinical development plans, suggesting limited internal capital for advancing these programs independently. The option agreement to acquire PinCell represents a potential expansion of their dermatological portfolio, contingent on grant funding.

JERUSALEM, Sept. 2, 2025 /PRNewswire/ -- Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) ("Scinai", or the "Company"), a biopharmaceutical company focused on developing novel and innovative biological drug candidates for the treatment of inflammation and immunology (I&I) related diseases and on providing CDMO services through its Scinai Bioservices business unit, today announced its financial results for the six months ended June 30, 2025.

Six-Month 2025 Financial Summary 

• Revenues for the six months ended June 30, 2025, totaled $773 thousand, compared to $284 thousand for the six months ended June 30, 2024. The increase reflects the continued growth of the Company's CDMO business, which generated contract revenues.
• R&D expenses for the six months ended June 30, 2025, amounted to $1,237 thousand, compared to $2,788 thousand for the same period in 2024, primarily due to lower allocation of wages and facilities to R&D activities.
• Marketing, general and administrative expenses were $1,256 thousand in the six months ended June 30, 2025, compared to $1,003 thousand in the same period of 2024. The increase was primarily due to share-based payments and due to an insurance reimbursement recorded in 2024.
• Net loss was $4,134 thousand, compared to $4,481 thousand in the six months ended June 30, 2024, reflecting higher revenues and lower R&D expenses.
• Cash - as of June 30, 2025, cash and cash equivalents totaled $989 thousand. Subsequently, in July and August 2025, the Company successfully raised an additional $4.2 million through its Standby Equity Purchase Agreement with Yorkville Advisors, significantly strengthening its cash position.

Business Update

CDMO

• Scinai Bioservices, the Company's CDMO business unit, continues to grow steadily, with its U.S. subsidiary contributing $421 thousand in revenues in the first half of 2025.
• As of August 31, 2025, total CDMO service orders for 2025 reached $1.0 million, net of raw materials and disposables, with invoiced revenues of $850 thousand.

R&D

• Scinai is advancing its anti-IL-17 NanoAb program with two product profiles in development: one focused on localized treatment of psoriasis patients with small but debilitating lesions, and another aimed at systemic treatment of moderate-to-severe plaque psoriasis through an innovative tri-specific antibody design.
• The Company plans to apply for up to €15 million in grant financing under the EU STEP program, with a decision expected in Q1 2026, to fund Phase 1/2a clinical trials.
• In 2025, Scinai filed patents for four additional NanoAbs from its collaboration with the Max Planck Society and University Medical Center Göttingen and is exercising its exclusive option to license them. By October 2025, the Company expects to apply for a European Funds for a Modern Economy (FENG) grant to support the development of a novel multi-specific antibody targeting TH2-related diseases such as asthma, atopic dermatitis, and COPD.
• In March 2025, Scinai signed an option agreement to acquire PinCell srl, an Italian biotech company developing PC111, a potential treatment for severe dermatological conditions. A related €12 million FENG grant application is under review, with a funding decision expected in Q3 2025.

About Scinai Immunotherapeutics

Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) is a biopharmaceutical company with two complementary business units, one focused on in-house development of inflammation and immunology (I&I) biological therapeutic products beginning with an innovative, de-risked pipeline of VHH antibody fragments (nanoAbs) targeting diseases with large unmet medical needs, and the other a boutique CDMO providing biological drug development, analytical methods development, clinical cGMP manufacturing, and pre-clinical and clinical trial design and execution services for early stage biotech drug development projects.

Company website: www.scinai.com

Company Contacts
Investor Relations - Allele Capital Partners | +1 978 857 5075 | aeriksen@allelecapital.com
Business Development | +972 8 930 2529 | bd@scinai.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements. All statements, other than statements of historical facts, are forward-looking statements. These forward-looking statements reflect management's current views with respect to certain current and future events and are subject to various risks, uncertainties and assumptions that could cause the results to differ materially from those expected by the management of Scinai Immunotherapeutics Ltd. Risks and uncertainties include, but are not limited to; the risk that the Company will otherwise be unable to remain compliant with the continued listing requirements of Nasdaq; lower than anticipated revenues of Scinai's CDMO business in 2025 and thereafter; failure to sign agreements with other potential clients of the CDMO business; the risk that the Company will not be awarded, or there will be delays in decisions with respect to, the potential grants from the FENG program, the EU Step program and/or the IIA; that the Company will not exercise its right to acquire PinCell; a delay in the commencement and results of pre-clinical and clinical studies, including the Phase 1/2a study for psoriasis, the risk of delay in, Scinai's inability to conduct, or the unsuccessful results of, its research and development activities, including the contemplated in-vivo studies and a clinical trial; the risk that Scinai will not be successful in expanding its CDMO business or in-license other nanoAbs; the risk that Scinai may not be able to secure additional capital on attractive terms, if at all; the risk that the therapeutic and commercial potential of nanoAbs will not be met or that Scinai will not be successful in bringing the nanoAbs towards commercialization; the risk of a delay in the preclinical and clinical trials data for nanoAbs, if any; the risk that our business strategy may not be successful; Scinai's ability to acquire rights to additional product opportunities; Scinai's ability to enter into collaborations on terms acceptable to Scinai or at all; timing of receipt of regulatory approval of Scinai's manufacturing facility in Jerusalem, if at all or when required; and the risk that drug development involves a lengthy and expensive process with uncertain outcomes. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission ("SEC") on May 7, 2025, and the Company's subsequent filings with the SEC. Scinai undertakes no obligation to revise or update any forward-looking statement for any reason.

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SOURCE Scinai Immunotherapeutics Ltd.

FAQ

What were Scinai's (NASDAQ:SCNI) revenue and net loss figures for H1 2025?

Scinai reported revenues of $773,000 (up from $284,000 in H1 2024) and a net loss of $4.13 million (improved from $4.48 million)

How much funding did Scinai (SCNI) raise in July-August 2025?

Scinai raised $4.2 million through its Standby Equity Purchase Agreement with Yorkville Advisors

What is the status of Scinai's CDMO business in 2025?

Scinai's CDMO business secured $1.0 million in total orders for 2025, with $850,000 already invoiced, including $421,000 from its U.S. subsidiary in H1

What are Scinai's main R&D programs in development?

Scinai is developing anti-IL-17 NanoAb programs for psoriasis treatment and pursuing development of novel multi-specific antibodies for TH2-related diseases

How much grant funding is Scinai pursuing for clinical trials?

Scinai is applying for up to €15 million in EU STEP program funding and awaiting decision on a €12 million FENG grant application