Financing ·
Scinai Immunotherapeutics closes $4.0M private placement and warrant inducement
SCNIScinai Immunotherapeutics Ltd.
Scinai Immunotherapeutics closed a previously announced private placement of 2,458,334 American Depositary Shares (ADSs) or pre-funded warrants, together with Series A-1 Warrants to purchase up to 3,687,501 ADSs. The company also completed the immediate exercise of Existing Warrants for 879,194 ADSs at a reduced price of $1.20 per ADS and issued additional New Warrants for 1,318,791 ADSs. Aggregate gross proceeds were approximately $4.0 million before fees. Net proceeds will advance customer programs, pursue CDMO contracts, and support the immunotherapy pipeline. The company estimates an operating runway to late 2027 based on current resources and expected collections. Scinai Immunotherapeutics is a biopharmaceutical company operating a contract development and manufacturing organization alongside an immunology-focused therapeutic development platform.