Scinai Immunotherapeutics (SCNI) AI Stock Analysis

• Market Cap: $835.94K
• Dividend Yield: N/A
• Average Volume (3M): 101.31K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: 178.82%
• EPS Growth: -4121.10%
• Country: US
• Employees: 31
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -4.74
• Shares Outstanding: 3,187,679
• 10 Day Avg. Volume: 127,573
• 30 Day Avg. Volume: 101,310
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.27
• Price to Sales (P/S): 4.11
• P/FCF Ratio: -0.43
• Enterprise Value/Market Cap: 3.19
• Enterprise Value/Revenue: 2.33
• Enterprise Value/Gross Profit: -1.58
• Enterprise Value/Ebitda: 0.30
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: $0.98 ▲(25.00% Upside)

The score is held back primarily by weak financial performance—persistent operating losses and continued cash burn despite recent balance sheet improvement. Technicals are a moderate positive with the stock trading above key short-term averages and mildly positive momentum, while valuation is constrained by a negative P/E and no dividend support.

Positive Factors

Balance sheet improvement

The shift to positive equity and lower leverage in 2024 materially strengthens financial flexibility versus prior years. This improved capital structure provides a longer runway for R&D and operations, reducing near-term refinancing pressure and lowering the probability of forced dilutive raises.

CDMO/business diversification driving revenue

Expansion of Scinai Bioservices and CDMO revenue creates a recurring, services-based cash stream distinct from volatile drug milestones. Structural diversification into manufacturing and CDMO reduces dependence on single-candidate outcomes and supports steadier revenue and capacity investments over the medium term.

Shareholder-backed governance & strategic flexibility

Shareholder approval of governance changes and authorization for additional shares gives management strategic flexibility to incentivize leadership, structure long-term compensation, and access capital when needed. Endorsement of auditor and leadership supports continuity during restructuring.

Negative Factors

Persistent cash burn

Sustained negative operating and free cash flow indicate the company continues to consume cash to fund R&D and operations. Over multiple years this creates reliance on external financing, increasing dilution risk and constraining the ability to invest opportunistically without consistent positive cash generation.

Negative core profitability

Deep negative gross profit and large operating losses show core operations are not yet structurally profitable. Reported net income gains appear driven by non-operational items, so without structural margin improvement the company will struggle to convert revenue growth into sustainable earnings or self-funded R&D.

Historic leverage and dilution risk

Although 2024 improved, the prior pattern of extreme leverage and negative equity highlights a recurring financing vulnerability. If losses persist, the company may again face high cost capital, frequent equity raises, or restrictive covenants, raising long-term dilution and execution risk for programs.

Scinai Immunotherapeutics Business Overview & Revenue Model

Company Description

Scinai Immunotherapeutics Ltd., a development stage biopharmaceutical company, focuses on developing, manufacturing, and commercializing products for the prevention and treatment of infectious and autoimmune diseases, and other illnesses in Israel. It has licensing and collaboration agreement with Max Planck Society and University Medical Center Göttingen for the development and commercialization of COVID-19 nanosized antibody (NanoAb); and development and commercialization of NanoAbs for various other disease indications. The company was formerly known as BiondVax Pharmaceuticals Ltd. and changed its name to Scinai Immunotherapeutics Ltd. in September 2023. Scinai Immunotherapeutics Ltd. was incorporated in 2003 and is headquartered in Jerusalem, Israel.

How the Company Makes Money

Scinai Immunotherapeutics generates revenue primarily through the development and commercialization of its immunotherapeutic products. The company earns money by progressing its drug candidates through clinical trials, obtaining regulatory approvals, and subsequently launching these products in the market. Revenue streams include product sales, licensing agreements, and strategic partnerships with other pharmaceutical or biotechnology companies. These partnerships often involve milestone payments and royalties related to the development and commercialization of SCNI's proprietary technologies. Additionally, the company may receive funding through grants and collaborations aimed at advancing its research and development efforts.

Scinai Immunotherapeutics Financial Statement Overview

Summary

Balance sheet quality improved in 2024 (positive equity and moderate leverage), but operating fundamentals remain weak with negative gross profit, sizable operating losses, and ongoing multi-year cash burn. The 2024 net income gain appears disconnected from core operating and cash-flow performance.

Income Statement

Revenue re-appeared in 2024 ($0.66M; +45.6% growth off a very small base), but the core earnings profile remains weak: gross profit is negative and operating losses are large (EBIT of -$8.6M and EBITDA of -$7.0M in 2024). Net income swung to +$4.8M in 2024 after multi-year losses, but the gap between strong reported net income and deeply negative operating results suggests earnings are not being driven by sustainable operations.

Balance Sheet

Balance sheet quality improved meaningfully in 2024 with positive equity (~$10.0M) versus negative equity in 2022–2023, and leverage looks moderate in the latest year (debt-to-equity ~0.21; total debt ~$2.1M). However, the company has a history of high/unstable leverage and negative equity (e.g., 2021 debt-to-equity ~29.5; 2022–2023 negative equity), which raises financing and dilution risk if losses persist.

Cash Flow

Cash generation remains a key weakness: 2024 operating cash flow was -$6.3M and free cash flow was -$6.3M, extending a multi-year pattern of cash burn (also negative in 2020–2023). Free cash flow declined further in 2024 (about -5.7% growth), implying ongoing reliance on external funding to support operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.15M	658.00K	0.00	0.00	0.00	0.00
Gross Profit	-1.69M	-580.00K	-512.67K	-559.80K	-747.65K	-708.92K
EBITDA	8.80M	-6.99M	-9.19M	-10.50M	-10.39M	2.75M
Net Income	4.61M	4.80M	-6.50M	-5.80M	-8.21M	-1.39M
Balance Sheet
Total Assets	11.84M	13.45M	17.47M	27.07M	32.04M	17.71M
Cash, Cash Equivalents and Short-Term Investments	989.00K	1.96M	4.87M	14.07M	17.37M	2.93M
Total Debt	2.36M	2.09M	20.56M	21.54M	29.23M	20.90M
Total Liabilities	3.98M	3.47M	22.04M	28.83M	31.05M	22.25M
Stockholders Equity	7.86M	9.98M	-4.57M	-1.76M	982.00K	-4.54M
Cash Flow
Free Cash Flow	-5.71M	-6.35M	-10.02M	-8.10M	-7.57M	-24.48M
Operating Cash Flow	-5.69M	-6.33M	-9.38M	-7.26M	-7.43M	-22.57M
Investing Cash Flow	-16.02K	-12.00K	-637.00K	-836.00K	-139.00K	-1.85M
Financing Cash Flow	3.59M	3.44M	1.09M	6.78M	21.43M	4.27M

Scinai Immunotherapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.78
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SCNI, the sentiment is Positive. The current price of 0.78 is below the 20-day moving average (MA) of 0.90, below the 50-day MA of 0.92, and below the 200-day MA of 1.66, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 55.44 is Neutral, neither overbought nor oversold. The STOCH value of 58.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SCNI.

Scinai Immunotherapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SCNI	49 Neutral	$835.94K	-0.08	―	―	178.82%	-4121.10%
GTBP	47 Neutral	$7.02M	-0.15	-356.99%	―	―	54.62%

Scinai Immunotherapeutics Corporate Events

Scinai Immunotherapeutics Shareholders Approve Share Increase, Equity Grants and Auditor at December 22 Meeting

On December 22, 2025, Scinai Immunotherapeutics Ltd. held its Annual Meeting of Shareholders, where investors approved a series of corporate governance and compensation measures. Shareholders re-elected director Mark Germain to serve until the third annual meeting after the current one; approved an amendment to the Articles of Association to increase the number of authorized ordinary shares, potentially expanding Scinai’s capacity for future equity issuance; and endorsed long‑term equity incentives for Chief Executive Officer Amir Reichman and several directors, including new option grants and accelerated vesting for two former directors stepping down as part of cost‑cutting efforts. Investors also approved a grant of ADSs to a long-serving officer, and ratified the appointment of Zvi Haft, a BDO member firm, as the company’s auditor for 2025, collectively signaling shareholder support for the current leadership, restructuring steps, and financial oversight framework.

Scinai Immunotherapeutics Reports Nine-Month 2025 Results and Strategic Developments

On December 2, 2025, Scinai Immunotherapeutics reported its financial results for the first nine months of 2025, highlighting significant growth in its CDMO business and advancements in its NanoAbs pipeline. The company saw a substantial increase in revenues compared to the previous year, driven by the expansion of Scinai Bioservices, including contributions from its U.S. subsidiary. Despite a net loss due to the absence of financial income from loan conversion recorded in 2024, Scinai continues to strengthen its position in the biotech industry. The company is advancing its NanoAbs pipeline with a focus on strategic partnerships and has received a non-dilutive grant from the Israel Innovation Authority to enhance its manufacturing capabilities. However, a recent grant application for the PC111 program was not approved, prompting Scinai to explore alternative funding options and strategic paths for the program.

Scinai Immunotherapeutics Announces December 2025 Shareholder Meeting

Scinai Immunotherapeutics Ltd. has announced its upcoming Annual General Meeting of Shareholders, scheduled for December 22, 2025, in Tel Aviv, Israel. The meeting will address several key proposals, including the re-election of board members, amendments to the company’s Articles of Association, and various grants of options and shares to directors and officers as part of cost-cutting measures. These decisions are aimed at recognizing contributions and incentivizing leadership, while also implementing strategic financial adjustments. The meeting will also ratify the appointment of Ziv Haft as the company’s auditors for 2025, ensuring continued financial oversight.

Scinai Immunotherapeutics Announces Board Changes and New Accounting Firm Amid Cost-Cutting Efforts

Scinai Immunotherapeutics Ltd. announced the resignation of two board members, Prof. Avner Rotman and Dr. Morris Laster, effective December 31, 2025, as part of cost-cutting measures. Additionally, the company plans to replace its current accounting firm, PwC, with Ziv Haft to further reduce costs, pending shareholder approval.