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JERUSALEM, Aug. 24, 2026 /PRNewswire/ – Scinai Immunotherapeutics Ltd. (NASDAQ:SCNI) ("Scinai" or the "Company"), a biopharmaceutical company combining innovative therapeutic development with a revenue-generating contract development and manufacturing organization ("CDMO"), today provided a corporate update and reported financial results for the six months ended June 30, 2026.

Corporate Highlights

  • Committed Customer Orders1 reached approximately $3.1 million as of August 16, 2026, of which approximately $2.1 million had been invoiced.
  • The Company is progressing an expanded clinical manufacturing and CMC program for a U.S.-based biopharmaceutical company building on an existing contractual relationship and prior work performed through the customer's affiliate.
  • Approximately $650 thousand in cash payments and advances have been received in connection with the expanded U.S. program, and substantive activities are underway while the definitive agreement covering the broader scope and commercial terms remains under negotiation.
  • The expanded program is intended to support an investigational drug product toward U.S. IND submission and Phase III clinical development.
  • The Company continues to pursue approximately $5 million in CDMO revenues for 2026

First Half 2026 Financial Results

  • Revenues increased to $949 thousand, compared with $773 thousand for the six months ended June 30, 2025. The increase was primarily attributable to the inclusion of revenues generated by the acquired Yavne operations from the acquisition date. Revenue recognized during the period reflects only the portion of customer engagements for which the applicable services had been performed and revenue recognition criteria satisfied through June 30, 2026, and does not reflect the full value of signed customer work orders extending beyond the reporting period.
  • Cost of revenues increased to $3.3 million, compared to approximately $2.0 million for the six months ended June 30, 2025, primarily reflecting the expanded cost base of our CDMO business following the acquisition and consolidation of the Yavne operations, including additional personnel, facility, depreciation and other manufacturing-related costs.
  • Gross loss was approximately $2.4 million, compared with approximately $1.3 million in the prior-year period, reflecting the expanded operating cost base of the Company's CDMO platform while facility utilization continues to increase.
  • Research and development expenses decreased to approximately $0.8 million, compared to approximately $1.2 million for the six months ended June 30, 2025 primarily reflecting a lower level of research and development expenditures during the period and the continuing allocation of resources toward our CDMO activities, partially offset by expenditures associated with our current therapeutic development programs, including the PinCell arrangement and NanoAb activities. 
  • Marketing, general and administrative expenses increased to approximately $1.4 million, compared to approximately $1.3 million for the six months ended June 30, 2025 reflecting, among other things, the expanded corporate and administrative requirements associated with the acquisition and integration of the Yavne operations and operation of the enlarged group structure.
  • Operating loss was approximately $4.6 million, compared with approximately $3.8 million for the first half of 2025. 
  • Net income was approximately $1.6 million, compared with a net loss of approximately $4.1 million in the prior-year period, primarily reflecting an approximately $6.4 million bargain purchase gain associated with the acquisition of Recipharm Israel. The bargain purchase gain does not represent operating revenue or operating cash flow. 
  • Net cash used in operating activities was approximately $3.9 million, compared with approximately $2.6 million in the first half of 2025. 
  • Cash, cash equivalents and restricted cash totaled approximately $2.9 million as of June 30, 2026, and shareholders' equity was approximately $11.7 million. At the closing of the acquisition, Recipharm Israel held approximately €2.0 million in cash, alongside funds for certain pre-closing expenses and liabilities. The acquired cash contributed to the Company's post-acquisition liquidity position.