Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI), a biopharmaceutical company that combines therapeutic development with a revenue-generating contract development and manufacturing organization (CDMO), has reported its financial results for the first half of 2026. The company also provided an update on its expanded clinical manufacturing program for a U.S.-based biopharmaceutical company.
For the first half of 2026, Scinai reported revenue of $949,000, up from $773,000 in the prior-year period. Committed customer orders reached approximately $3.1 million as of Aug. 16, 2026, including approximately $2.1 million already invoiced. The company continues to pursue approximately $5 million in CDMO revenue for 2026.
In a significant development, Scinai is advancing an expanded clinical manufacturing and chemistry, manufacturing and controls (CMC) program for a U.S.-based biopharmaceutical company. The company has received approximately $650,000 in cash payments and advances, and substantive activities are underway while a definitive agreement remains under negotiation. The program is intended to support an investigational drug product toward a U.S. investigational new drug (IND) submission and Phase III clinical development.
Financially, Scinai reported an operating loss of approximately $4.6 million for the first half, compared with $3.8 million a year earlier. However, net income was approximately $1.6 million versus a net loss of approximately $4.1 million, primarily reflecting a $6.4 million bargain purchase gain associated with the acquisition of Recipharm Israel. Cash, cash equivalents, and restricted cash totaled approximately $2.9 million as of June 30, 2026.
The company continues to advance its PC111 and NanoAbs therapeutic programs and will host an investor webinar on Aug. 26, 2026, to discuss recent developments, financial performance, and upcoming milestones.
Scinai Immunotherapeutics is focused on the development of innovative immunology therapies and is advancing a pipeline of therapeutic candidates licensed from the Max Planck Society and PinCell S.r.l. The company also owns Scinai Biopharma Services Ltd., a CDMO providing development and manufacturing services to biotechnology and pharmaceutical companies through facilities in Jerusalem and Yavne, Israel.
The company's newsroom can be accessed at https://nnw.fm/SCNI for the latest news and updates relating to SCNI.
