Scinai Immunotherapeutics (SCNI) Registration Filing summary

Company overview and business model

• Operates two business units: in-house development of inflammation and immunology (I&I) biologics, and a boutique CDMO providing drug development and cGMP manufacturing services for pre-clinical and clinical studies.

• Focuses on VHH antibody fragments (NanoAbs) for diseases with large unmet needs, and has an option to acquire Pincell srl, owner of PC111, a monoclonal antibody for rare skin diseases.

• CDMO unit, Scinai Bioservices, offers process development and GMP manufacturing for protein-based biologics, leveraging a modular, single-use facility in Jerusalem.

Financial performance and metrics

• As of June 30, 2025, had $989,000 in cash and cash equivalents, with a pro forma as adjusted cash position of $12.4 million assuming full offering.

• Accumulated deficit stands at $121.7 million, with total shareholders' equity of $7.9 million actual and $19.3 million pro forma as adjusted.

• Not currently profitable; CDMO business generates revenue but overall company expects continued losses in the near term.

Use of proceeds and capital allocation

• May receive up to $15 million in gross proceeds from sales of ADSs to YA under the Purchase Agreement, to be used for pipeline development, CDMO business support, and general corporate purposes.

• Management has broad discretion over use of proceeds, which may include working capital, R&D, regulatory matters, and capital investment.