#Scinai Immunotherapeutics #Israel #Jerusalem #financial results #Biopharmaceutical

Scinai Immunotherapeutics Ltd. Annual Financial Results for 2024

In a significant announcement made on May 7, 2025, Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI), a biopharmaceutical company based in Jerusalem, unveiled its annual financial results for the year 2024. As the company transitions into a new phase of growth, the figures underscore both the milestone achievements and the financial strategy that propelled this progress.

Financial Highlights

For the year 2024, Scinai reported revenues of $658,000, marking a stark contrast to the absence of revenue in 2023 due to its new CDMO division generating earnings for the first time. This new revenue stream signals a positive shift in the company's operational trajectory and offers a glimpse of Scinai's potential for future growth.

Research and development (R&D) expenses were noted at $5.6 million, a slight increase from $5.2 million in the previous year. However, the variation was minimal and reflected minor fluctuations in the R&D activities, showcasing a controlled spending approach amid expanding business operations.

In terms of administrative expenditures, marketing, general, and administrative costs dropped to $2.6 million in 2024 from $4.5 million in 2023. This reduction can primarily be attributed to lower wages and decreased share-based compensations, indicating Scinai’s efficient budgeting strategy while still focusing on innovation.

A substantial increase was observed in financial income, which rose to $13.5 million in 2024, compared to $3.2 million in 2023. This dramatic surge was largely a result of income generated from converting loans into equity, affirming not only the company’s profitable financial moves but also the confidence shareholders have in Scinai's direction.

The net gain for the fiscal year stood at $4.8 million, a remarkable turnaround from a net loss of $6.5 million in 2023. This notable improvement further illustrates Scinai’s capability to transform its financial landscape effectively, primarily due to the aforementioned financial maneuvers and the performance of its CDMO operations.

As the year concluded on December 31, 2024, Scinai held cash and cash equivalents totaling $1.9 million, a decrease from $4.9 million at the end of 2023. This shift may depict a strategic investment in core activities that are expected to yield greater dividends over the long term.

About Scinai Immunotherapeutics

Scinai Immunotherapeutics Ltd. specializes in developing innovative biopharmaceutical products aimed at treating inflammation and immunology-related diseases. The company operates with two distinct yet synergistic business units; one focuses on proprietary therapeutic product development while the other—Scinai Bioservices—offers comprehensive contract development and manufacturing organization services to assist early-stage biotech firms in drug development and clinical trials.

The combination of an advanced pipeline comprising nanosized VHH antibodies, is targeted towards diseases with unmet medical needs, bolsters Scinai's unique position within the biopharmaceutical landscape. The company is committed to addressing critical health challenges through its ground-breaking research and development efforts.

Future Outlook

Looking ahead, Scinai remains optimistic about sustaining its growth trajectory and expanding its CDMO services. However, the management acknowledges potential challenges, including market fluctuations and competitive pressures. By focusing on strategic partnerships and continuously innovating, Scinai aims to solidify its market presence and improve patient outcomes across their therapeutic domains.

For more detailed information regarding the financial standings and future projections, the complete audited results can be accessed on Scinai's investor relations website or through the SEC filings. The annual report is available upon request for shareholders, illustrating Scinai's commitment to transparency and ongoing communication with its investors.