JERUSALEM, April 1, 2026 /PRNewswire/ — Scinai Immunotherapeutics Ltd. (NASDAQ:SCNI); (“Scinai” or the “Company”), a biopharmaceutical company operating a dual R&D and CDMO business model designed to combine therapeutic innovation with revenue-generating drug development and manufacturing services, today reported financial results for the year ended December 31, 2025.
Corporate and Financial Highlights
- CDMO revenues doubled year-over-year to $1.3 million, reflecting continued commercial traction and execution of development and manufacturing programs
- Expanded CDMO platform post year-end through the acquisition of Recipharm Israel and entry into a strategic commercial collaboration with Recipharm, enhancing manufacturing capabilities and broadening service offerings
- Established a differentiated lifecycle CDMO model with global reach, enabling customer programs to transition from early-stage development through late-stage and commercial manufacturing
- Positioned PC111, a fully human monoclonal antibody targeting inflammatory pathways with potential applications in severe dermatological conditions, as the Company’s flagship value driver.
- Resubmitted application for non-dilutive FENG grant funding covering PC111 and IL-17-based programs, advancing key pipeline assets through capital-efficient funding mechanisms
- FENG grant structure provides significant capital efficiency, with €12 million of potential grant funding matched by approximately €3 million of Company investment, enabling up to 5x leverage on R&D capital
- Net cash used in operating activities for the year ended December 31, 2025, was $6.0 million, representing a slight decrease year-over-year.
Financial Results for Full-Year 2025
Revenues for the year ended December 31, 2025, were $1.3 million, compared to $0.7 million for the year ended December 31, 2024. The increase reflects continued expansion of Scinai’s CDMO activities.
R&D expenses for the year ended December 31, 2025, amounted to $2.4 million, compared to $5.5 million for the year ended December 31, 2024. The decrease was primarily due to lower allocation of employees and facility costs to the R&D business unit.
Marketing, general and administrative expenses for the year ended December 31, 2025, were $2.5 million, compared to $2.5 million for the year ended December 31, 2024.
Financial expenses, net, for the year ended December 31, 2025, were $0.8 million, compared to financial income of $13.4 million for the year ended December 31, 2024. The change was primarily driven by the financial income from loan conversion recognized in 2024, which did not recur in 2025.
Net loss for the year ended December 31, 2025, was $8.3 million, compared to net income of $4.8 million for the year ended December 31, 2024. The variance reflects the financial income from loan conversion recognized in 2024.
As of December 31, 2025, cash, cash equivalents and restricted …