Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) reported a net income of $1.6 million for the six months ended June 30, 2026, driven primarily by a $6.4 million bargain purchase gain tied to the acquisition of Recipharm Israel. Excluding this non-operating item, the company’s net loss widened to $4.6 million from $3.8 million in the first half of 2025.
Revenue increased 23% to $949,000 from $773,000 in the prior-year period, attributed largely to the integration of Yavne operations. However, cost of revenues rose to $3.3 million from approximately $2.0 million, reflecting higher operational expenses associated with the expanded footprint. Gross loss deepened to $2.4 million from $1.3 million a year earlier.
Cash used in operating activities totaled $3.9 million in H1 2026, up from $2.6 million in H1 2025, leaving the company with $2.9 million in cash, cash equivalents, and restricted cash as of June 30. Shareholders’ equity stood at $11.7 million.
The company also announced $3.1 million in committed customer orders as of August 16, 2026, with $2.1 million already invoiced. Of this total, $650,000 represents cash payments and advances for an expanded U.S. program aimed at supporting an investigational drug product toward a U.S. Investigational New Drug submission and Phase III clinical development. The definitive agreement for the U.S. program remains under negotiation.
Scinai will host an investor webinar on August 26 at 11:00 a.m. EDT to discuss the results and expansion plans.
