Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharma company focused on inflammation and immunology treatments and CDMO services, reported a $4.8 million net gain for 2024, reversing a $6.5 million loss in 2023. The improvement was largely due to $14.8 million in financial income from a loan-to-equity conversion. The company posted $658,000 in revenue—its first ever—from its CDMO unit. R&D expenses remained steady at $5.6 million, while G&A costs dropped to $2.6 million. Cash and equivalents totaled $1.9 million at year-end. 

To view the full press release, visit https://ibn.fm/CNAN2 

About Scinai Immunotherapeutics Ltd. 

Scinai is a biopharmaceutical company with two complementary business units. One is focused on in-house development of inflammation and immunology (“I&I”) biological therapeutic products beginning with an innovative, de-risked pipeline of nanosized VHH antibodies (“NanoAbs”) targeting diseases with large unmet medical needs. The second business unit is a boutique CDMO providing biological drug development, analytical methods development, clinical GMP manufacturing, and preclinical and clinical trial design and execution services to early stage biotech companies. For more information, visit the company’s website at www.Scinai.com. 

NOTE TO INVESTORS: The latest news and updates relating to SCNI are available in the company’s newsroom at https://ibn.fm/SCNI 

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This press release is distributed by InvestorBrandNetwork (IBN). Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is BioMedNewsBreaks — Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) Reports $4.8 Million Net Gain in 2024, Driven by Loan-to-Equity Conversion.