Scinai Immunotherapeutics regains Nasdaq bid price compliance

Scinai Immunotherapeutics Ltd. (Nasdaq: SCNI) said on September 21, 2026 that it regained compliance with Nasdaq's $1.00 minimum bid price requirement under Listing Rule 5550(a)(2), and that the matter is now closed. The company received written confirmation from Nasdaq Listing Qualifications in a letter dated September 18, 2026.

Nasdaq staff first notified the company on March 12, 2026 that its American Depositary Shares had failed to maintain a minimum bid price of $1.00 over the prior 30 consecutive business days. The September letter says the closing bid price was at or above $1.00 for 19 consecutive business days, from August 21, 2026 through September 17, 2026. On that basis, Nasdaq determined the company had regained compliance.

The release does not give the closing prices for the months between the March notice and August 21, 2026, so the full length of the sub-$1.00 stretch cannot be measured from it. Its chief executive, Amir Reichman, said the confirmation closes an important compliance matter for the company.

What Scinai is

The Jerusalem company calls itself a biopharmaceutical company focused on immunology therapies and a contract development and manufacturing organization. It is developing its NanoAb platform through research collaboration and license arrangements with the Max Planck Society and University Medical Center Göttingen. It also owns Scinai Biopharma Services Ltd., a CDMO that provides development and manufacturing services through facilities in Jerusalem and Yavne, Israel. The release describes that contract business as revenue-generating and treats it as the company's commercial focus.

The company's annual report on Form 20-F, filed April 1, 2026, says Scinai has a going concern qualification and will require substantial additional financing, which may dilute existing shareholders or impose restrictive covenants. It also cites a history of operating losses, no current profitability and the risk that a failure to meet Nasdaq's continued listing requirements could lead to delisting of its ADSs. Its risk list mentions the former Recipharm operations it has taken over for the CDMO business, its dependence on third parties and collaborators, and the fact that its product candidates are at an early stage of development and do not generate revenue, with earlier study results that may not predict later ones.

The numbers behind the listing

Figures from the 2025 annual report show revenue of $1.3 million, up from $658,000 in 2024. Research and development expense fell to $2.4 million from $5.5 million. The company reported a net loss of $8.3 million for 2025, after a net income of $4.8 million for 2024. Cash used in operations was $6.0 million for 2025, against $6.3 million for 2024.

Year-end cash and cash equivalents were $1.7 million at December 31, 2025, down from $2.0 million a year earlier. The release does not give a cash balance after year-end, and the annual report figures do not give the reason for the 2024 net income.

What the compliance does and does not change

The release points to "commercial execution at Scinai Biopharma Services and disciplined advancement of our NanoAb programs" as the company's focus. A bid price above $1.00 for 19 business days closes one listing question. It does not change the year-end cash position, the operating loss or the small 2025 revenue base. The stock traded below $1.00 long enough for Nasdaq to send a deficiency notice on March 12, 2026.

The release reports no new financing. The release does not say how the company plans to fund operations beyond its year-end cash.

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