Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) has reported its financial results for the first half of 2026, revealing a notable increase in revenue and a swing to net income, driven by a bargain purchase gain from its acquisition of Recipharm Israel. The company also provided an update on its expanded clinical manufacturing program for a U.S.-based biopharmaceutical company, which is expected to support the client's investigational drug toward a U.S. investigational new drug (IND) submission and Phase III clinical development.
For the six months ended June 30, 2026, Scinai reported revenue of $949,000, up from $773,000 in the same period last year. Committed customer orders reached approximately $3.1 million as of Aug. 16, 2026, including approximately $2.1 million already invoiced. The company continues to pursue approximately $5 million in CDMO revenue for 2026, indicating strong growth potential in its contract development and manufacturing operations.
The company's operating loss widened to approximately $4.6 million from $3.8 million in the prior-year period. However, net income was approximately $1.6 million, a significant improvement from a net loss of $4.1 million, primarily due to a $6.4 million bargain purchase gain associated with the Recipharm Israel acquisition. Cash, cash equivalents, and restricted cash totaled approximately $2.9 million as of June 30, 2026.
Scinai is advancing an expanded clinical manufacturing and chemistry, manufacturing, and controls (CMC) program for a U.S.-based biopharmaceutical company. The company has received approximately $650,000 in cash payments and advances, and substantive activities are underway while a definitive agreement is still under negotiation. This program is intended to support an investigational drug product toward a U.S. IND submission and Phase III clinical development, which could lead to significant long-term revenue for Scinai's CDMO segment.
The company continues to advance its PC111 and NanoAbs therapeutic programs, which are part of its pipeline of innovative immunology therapies licensed from the Max Planck Society and PinCell S.r.l. Scinai also owns Scinai Biopharma Services Ltd., a CDMO that provides development and manufacturing services to biotechnology and pharmaceutical companies through facilities in Jerusalem and Yavne, Israel.
Investors and stakeholders will have the opportunity to gain deeper insights into these developments during an investor webinar scheduled for Aug. 26, 2026. The webinar will discuss recent developments, financial performance, and upcoming milestones.
For more details, the full press release is available at https://nnw.fm/Be7Ky. The latest news and updates relating to Scinai can be found in the company's newsroom at https://nnw.fm/SCNI.
