Scinai Immunotherapeutics (SCNI) Registration filing summary

Company overview and business model

• Biopharma activities span NanoAbs-based immunology therapeutics licensed from Max Planck Society and a CDMO serving small and emerging biotech clients from development through clinical-stage production.

• CDMO platform combines Jerusalem biologics development and aseptic manufacturing, Yavne small-molecule/API capabilities acquired in February 2026, and access to Recipharm’s manufacturing network.

• October 2026 U.S. customer agreement carries ~$5.1 million in committed base service fees, subject to performance and termination rights; revenue expected in 2026 and 2027, with stability services thereafter.

• Following the April 2026 reorganization, CDMO operations sit in a dedicated subsidiary; R&D is streamlined, and resources are focused on NanoAbs after the Pincell option and license terminated in August 2026.

Financial performance and metrics

• Audited FY2025 financial statements include a going-concern explanatory paragraph; disclosed risks include operating losses, lack of current profitability and dependence on CDMO revenues to support operations.

• As of June 30, 2026, accumulated deficit was $124.272 million and reported total shareholders’ equity and liabilities were $12.017 million, in thousands.

• Pro forma total equity and liabilities were $18.399 million after financing and SEPA adjustments, and $24.554 million assuming cash exercise of all warrants; the latter includes ~$6.16 million gross warrant proceeds.

Use of proceeds and capital allocation

• Selling shareholders receive all resale proceeds; no proceeds from their ADS sales go to the issuer, which will bear registration expenses.

• Cash warrant exercise proceeds, if any, are intended for CDMO platform expansion, customer programs and selective immunotherapy pipeline investment; cashless exercises generate no proceeds.

• Potential gross warrant proceeds total ~$6.16 million: ~$6.01 million from Series A-1 warrants, $162,250 from placement agent warrants and $246 from pre-funded warrants; exercise is not assured.