Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharma company focused on inflammation and immunology treatments and CDMO services, reported a $4.8 million net gain for 2024, reversing a $6.5 million loss in 2023. The improvement was largely due to $14.8 million in financial income from a loan-to-equity conversion. The company posted $658,000 in revenue—its first ever—from its CDMO unit. R&D expenses remained steady at $5.6 million, while G&A costs dropped to $2.6 million. Cash and equivalents totaled $1.9 million at year-end.
To view the full press release, visit https://ibn.fm/zHuHv
About Scinai Immunotherapeutics Ltd.
Scinai is a biopharmaceutical company with two complementary business units. One is focused on in-house development of inflammation and immunology (“I&I”) biological therapeutic products beginning with an innovative, de-risked pipeline of nanosized VHH antibodies (“NanoAbs”) targeting diseases with large unmet medical needs. The second business unit is a boutique CDMO providing biological drug development, analytical methods development, clinical GMP manufacturing, and preclinical and clinical trial design and execution services to early stage biotech companies. For more information, visit the company’s website at www.Scinai.com.
NOTE TO INVESTORS: The latest news and updates relating to SCNI are available in the company’s newsroom at https://ibn.fm/SCNI
About BioMedWire
BioMedWire (“BMW”) is a specialized communications platform with a focus on the latest developments in the Biotechnology (BioTech), Biomedical Sciences (BioMed) and Life Sciences sectors. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled recognition and brand awareness.
BMW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from BioMedWire, “Biotech” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.BioMedWire.com
Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: https://www.BioMedWire.com/Disclaimer
BioMedWire
Austin, Texas
www.BioMedWire.com
512.354.7000 Office
Editor@BioMedWire.com
BioMedWire is powered by IBN
Nutriband (NASDAQ: NTRB) announced that its Board of Directors has approved a 25% preferred stock…
Nutriband (NASDAQ: NTRB) has been added to the Russell Microcap, Russell Microcap Growth, Russell 3000E,…
Soligenix (NASDAQ: SNGX) is at the forefront of the effort as the medical community urgently seeks…
Lantern Pharma (NASDAQ: LTRN), a clinical-stage biotechnology company, is leveraging artificial intelligence and machine learning…
HealthLynked (OTCQB: HLYK), a connected healthcare technology company, has named Andrew Mavliev as its new…
Clene (NASDAQ: CLNN) announced key regulatory developments following a Type C meeting with the FDA, where…