Curated News
By: NewsRamp Editorial Staff
May 08, 2025
Scinai Immunotherapeutics Reports $4.8 Million Net Gain in 2024
TLDR
- Scinai Immunotherapeutics reported a $4.8 million net gain, benefiting from $14.8 million financial income, gaining a competitive advantage.
- Scinai's revenue improvement was due to a $14.8 million financial income from a loan-to-equity conversion, contributing to the positive financial results.
- Scinai's success in turning around a $6.5 million loss to a $4.8 million gain will positively impact healthcare by funding further research and development.
- Scinai Immunotherapeutics achieved its first-ever revenue of $658,000 from its CDMO unit, marking a significant milestone in its financial performance.
Impact - Why it Matters
This news matters as it showcases the financial turnaround of Scinai Immunotherapeutics, highlighting its success in the biopharma sector. Investors and stakeholders can take note of the company's positive performance and growth potential.
Summary
Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharma company, reported a $4.8 million net gain for 2024, reversing a previous loss. The financial improvement was driven by a loan-to-equity conversion. The company also saw its first revenue of $658,000 from its CDMO unit.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Scinai Immunotherapeutics Reports $4.8 Million Net Gain in 2024
