SCNINasdaqBiological Products, (No Diagnostic Substances)US GAAP · USD

Scinai Immunotherapeutics Ltd.

Scinai Immunotherapeutics Ltd. is a biopharmaceutical company with two complementary businesses: Scinai R&D, which develops inflammation and immunology therapies, and Scinai Biopharma Services, a contract development and manufacturing organization. Its therapeutic pipeline is based on NanoAbs, including VHH antibody fragments, while its CDMO operations provide analytical, process development, and clinical cGMP manufacturing services from facilities in Jerusalem and Yavne, Israel.

Liikevaihto1,3milj. USD
+99,2 %v/v
Liikevoitto (EBIT)−7,5milj. USD
+12,7 %v/v
EBIT-marginaali−575,3%
+737,5 %-yks.v/v
Nettotulos−8,3milj. USD
−273,2 %v/v
Vapaa kassavirta−6,1milj. USD
+4,6 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−12,5−10,0−7,5−5,0−2,50,02,5milj. USD20202021: EBIT −11 milj. USD20212022: EBIT −11 milj. USD20222023: EBIT −9,7 milj. USD20232024: 0,66 milj. USD2024: EBIT −8,6 milj. USD20242025: 1,3 milj. USD2025: EBIT −7,5 milj. USD20251,3−7,5
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
CDMO services80 %

Analytical, process development, technology transfer, and clinical cGMP manufacturing for biotech and pharmaceutical customers.

NanoAbs therapeutics10 %

Preclinical and development-stage immunology programs using VHH antibody fragments and advanced antibody formats.

PC111 program5 %

A therapeutic development program targeting inflammation and immunology applications.

IL-17 programs5 %

Local intradermal and systemic IL-17 NanoAbs, including mono- and bispecific formats.

Asiakkaat

Scinai’s CDMO customers are biotechnology and pharmaceutical companies seeking outsourced analytical development, process development, clinical manufacturing, and related technology-transfer support. The customer base can include early-stage developers that need flexible development capacity as well as larger pharmaceutical partners requiring a pathway from early development to later-stage supply. Scinai’s R&D business serves patients and healthcare markets indirectly through potential licensing, partnering, or commercialization of its immunology programs rather than through direct product sales.

Biotechnology companies

Buy analytical, process development, and clinical manufacturing services to advance drug candidates without building all capabilities internally.

Pharmaceutical companies

Use CDMO capabilities for development, technology transfer, and clinical supply across biologic and other modalities.

Emerging drug developers

Seek flexible, boutique support for early-stage development and preparation for clinical manufacturing.

Strategic licensing and development partners

May partner around PC111, IL-17 programs, and the broader NanoAbs platform to access immunology assets.

Strategia

Scinai’s strategy is to combine a revenue-generating CDMO platform with internally developed immunology therapeutics. The acquisition of the Recipharm Israel site and commercial collaboration with Recipharm are intended to expand capabilities across recombinant proteins, small molecules, peptides, antibodies, and oligonucleotides while creating a route from early development to later-stage supply. In parallel, Scinai is advancing PC111 and local and systemic IL-17 NanoAb programs while developing the broader NanoAbs platform.

Scale the integrated CDMO platformKeskipitkä aikaväli

Broader capabilities can increase the addressable customer base and support clients through more development stages.

Advance NanoAbs immunology programsKeskipitkä aikaväli

Successful development could create proprietary therapeutic assets beyond service revenue.

Secure non-dilutive and strategic development supportLyhyt aikaväli

Grants and partnerships can help fund R&D and validate programs while reducing reliance on internal capital.

Maantiede

Scinai is a U.S.-listed Israeli biopharmaceutical company whose operating infrastructure is concentrated in Israel. Scinai Biopharma Services operates facilities in Jerusalem and Yavne, while its CDMO customer base is described as international. No country-level revenue percentages or authoritative revenue-by-geography data are provided in the available reports.

Riskit

Scinai faces the execution risk of integrating and commercializing an expanded CDMO footprint while building sufficient customer demand to utilize its facilities. Its therapeutic programs remain exposed to preclinical and clinical development failure, regulatory uncertainty, funding needs, and competition from established biologic platforms. Concentration of operating assets in Israel also creates geographic, security, supply-chain, and foreign-exchange exposure.

Järjestetty vakavuuden mukaan
Therapeutic development failureKriittinen

PC111 and IL-17 NanoAb programs may fail to demonstrate safety, efficacy, or commercial differentiation.

Kohdistuu: Scinai R&D pipeline and future partnering value

CDMO customer concentration and demand riskKorkea

The service business depends on project awards, customer development timelines, and facility utilization.

KohdistuuAnalyticalProcess developmentClinical manufacturing revenue
Acquisition and integration executionKorkea

The expanded platform requires integration of facilities, processes, employees, and commercial workflows with Recipharm.

Kohdistuu: Yavne operations and Recipharm collaboration

Regulatory and quality complianceKorkea

Clinical cGMP manufacturing and biologic development require compliance with demanding regulatory and quality standards.

KohdistuuManufacturing licensesCustomer contractsClinical supply
Israel geopolitical and operational exposureKorkea

Facilities in Jerusalem and Yavne may be affected by security conditions, workforce disruption, logistics, or supplier interruptions.

Kohdistuu: Core operating infrastructure

Foreign-exchange exposureKeskitaso

Israeli operating activities and reporting in U.S. dollars can produce translation volatility, as shown by foreign currency translation adjustments.

Kohdistuu: Israeli operations and consolidated reporting

Kirjanpito

Harkinnanvaraiset erät
CDMO revenue recognition

Analytical, development, manufacturing, and technology-transfer contracts may recognize revenue as services are delivered or at defined milestones.

Vaikutus: Affects quarterly revenue timing, contract assets, receivables, and gross profit.

Business combination accounting

The Recipharm Israel acquisition requires valuation of acquired assets and liabilities and assessment of the purchase price allocation.

Vaikutus: Can create depreciation, amortization, goodwill, or a bargain purchase gain.

Lease accounting

Facilities in Jerusalem and Yavne generate right-of-use assets and lease liabilities under operating lease arrangements.

Vaikutus: Changes reported assets, liabilities, and lease-related operating expenses.

Foreign-currency translation

Israeli operating results are translated into U.S. dollars for consolidated reporting.

Vaikutus: Translation movements flow through other comprehensive income, as reflected by the reported adjustment.

Research and development accounting

Clinical and preclinical program costs are generally expensed as incurred, while grant accounting and recoveries may affect net R&D expense.

Vaikutus: Program timing and grant recognition can influence operating losses and period comparability.

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Päivitetty: 8.9.2026