Curated News
By: NewsRamp Editorial Staff
August 16, 2024
Scinai Immunotherapeutics Publishes Q2 2024 Financial Results and Business Update
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- Scinai Immunotherapeutics signed an agreement to restructure a $29 million bank loan to equity, aiming to regain Nasdaq compliance by August 23, 2024.
- Scinai Immunotherapeutics focuses on developing inflammation and immunology biological products, offering CDMO services through its Scinai Bioservices business unit.
- Scinai Immunotherapeutics is advancing the NanoAb preclinical development, with the aim of treating autoimmune diseases and improving patient outcomes.
- Scinai Immunotherapeutics plans to host a webinar on August 20, 2024, to discuss its Q2 2024 results and business update, providing valuable insights for investors and stakeholders.
Impact - Why it Matters
This news matters as it provides insight into the financial performance and future plans of Scinai Immunotherapeutics, a biopharmaceutical company focusing on inflammation and immunology biological products. Investors and stakeholders can gain valuable information about the company's progress in CDMO services, preclinical development, and upcoming clinical trials, which can impact investment decisions and future developments in the biopharmaceutical industry.
Summary
Scinai Immunotherapeutics (NASDAQ: SCNI) has published its financial results for Q2 2024, highlighting the signing of a bank loan restructuring agreement and plans to regain Nasdaq compliance by August 23, 2024. The company also reported approximately $600,000 in CDMO work orders since January 2024 and maintains confidence in its 2024 sales revenue guidance. In addition, Scinai is aggressively advancing the NanoAb preclinical development and anticipates a Phase 1/2a clinical trial for its anti-IL-17A/F NanoAb in Plaque Psoriasis to commence in the second half of 2025.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Scinai Immunotherapeutics Publishes Q2 2024 Financial Results and Business Update
