Scinai Immunotherapeutics (SCNI) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2025, more than doubled year-over-year, driven by CDMO expansion and U.S. subsidiary contributions.

• R&D expenses declined significantly due to lower employee and facility allocations.

• Net loss of $6.2M versus prior year net profit, reflecting absence of prior year’s one-time financial income from loan conversion.

• CDMO business continues to grow, with new grants and investments in advanced manufacturing capabilities.

• NanoAbs pipeline advanced, with multiple grant applications and strategic partnering efforts underway.

Financial highlights

• Revenue for the nine months ended September 30, 2025: $1.05M, up from $452K year-over-year.

• R&D expenses: $1.8M, down from $4.2M year-over-year.

• Marketing, general, and administrative expenses: $1.93M, up from $1.77M year-over-year.

• Net loss: $6.24M, compared to net profit of $7.03M in the prior year period.

• Cash, cash equivalents, and short-term deposits: $3.01M as of September 30, 2025.

Outlook and guidance

• Two EU STEP grant decisions (up to €15M each) expected in Q1 2026 for NanoAbs programs.

• Installation and qualification of new sterile fill-and-finish system expected in Q1 2026, with commercial operation in Q2 2026.

• Strategic assessment ongoing for PC111 program following grant rejection, with options including new grant applications or program termination.