AS PRFoods Corrects Balance Sheet with EUR 12.3 Million Adjustment

AS PRFoods corrects its balance sheet, reducing current interest-bearing liabilities by €12.3 million and increasing non-current interest-bearing liabilities by the same amount. The correction is related to the announcement published on August 29, 2025. Additional information can be obtained by contacting Kristjan Kotkas or Timo Pärn.

Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) has released its six-month financial results for the period ending June 30, 2025, highlighting significant growth in its contract development and manufacturing organization (CDMO) business and a strengthened balance sheet. The company reported revenues of $773 thousand, up from $284 thousand in the same period last year, primarily driven by the growth of its CDMO services.

Research and development (R&D) expenses decreased to $1,237 thousand from $2,788 thousand in the same period last year, largely due to lower allocations of wages and facilities to R&D activities. Marketing, general, and administrative expenses increased to $1,256 thousand from $1,003 thousand, mainly attributed to share-based payments and an insurance reimbursement recorded in 2024.

Despite the increase in revenues and decrease in R&D expenses, Scinai reported a net loss of $4,134 thousand, down from $4,481 thousand in the same period last year. The company's cash position improved significantly, with cash and cash equivalents totaling $989 thousand as of June 30, 2025. Additionally, Scinai successfully raised an additional $4.2 million through its Standby Equity Purchase Agreement with Yorkville Advisors in July and August 2025, further bolstering its financial position.

Scinai's CDMO business unit, Scinai Bioservices, continues to perform well, with its U.S. subsidiary contributing $421 thousand in revenues in the first half of 2025. As of August 31, 2025, total CDMO service orders for 2025 reached $1.0 million, with invoiced revenues of $850 thousand.

The company's R&D efforts are focused on its anti-IL-17 NanoAb program, which includes two product profiles: one for localized treatment of psoriasis patients with small but debilitating lesions, and another for systemic treatment of moderate-to-severe plaque psoriasis through an innovative tri-specific antibody design. Scinai plans to apply for up to €15 million in grant financing under the EU STEP program to fund Phase 1/2a clinical trials.

Scinai also filed patents for four additional NanoAbs from its collaboration with the Max Planck Society and University Medical Center Göttingen and is exercising its exclusive option to license them. Additionally, the company expects to apply for a European Funds for a Modern Economy (FENG) grant to support the development of a novel multi-specific antibody targeting TH2-related diseases such as asthma, atopic dermatitis, and COPD by October 2025.

In March 2025, Scinai signed an option agreement to acquire PinCell srl, an Italian biotech company developing PC111, a potential treatment for severe dermatological conditions. A related €12 million FENG grant application is under review, with a funding decision expected in Q3 2025.

Scinai Immunotherapeutics is a biopharmaceutical company with two complementary business units: one focused on the in-house development of inflammation and immunology (I&I) biological therapeutic products and the other a boutique CDMO providing biological drug development services.

References:
[1] https://www.morningstar.com/news/pr-newswire/20250902io63187/scinai-reports-six-month-2025-financial-results-highlighting-continued-cdmo-revenue-growth-and-strengthened-balance-sheet