Scinai Immunotherapeutics is building a substantially larger contracted workload in its CDMO business than is currently visible in reported revenue, with committed customer orders reaching approximately $3.1 million as of August 16.
That committed order value was more than three times the $949,000 of revenue Scinai recognized during the first half of 2026. The company said approximately $2.1 million of the committed orders had already been invoiced.
First-half revenue increased from $773,000 a year earlier, primarily reflecting revenue generated by the acquired Yavne operations. Scinai emphasized that reported revenue only reflects services already performed and does not include the full value of customer work orders extending beyond the reporting period.
The expansion comes with a temporarily heavy cost base. Cost of revenue increased to $3.3 million from roughly $2 million, and gross loss widened to approximately $2.4 million from $1.3 million as Scinai operates its expanded CDMO infrastructure below intended utilization levels.
A major opportunity involves an expanded clinical manufacturing and CMC program for a U.S.-based biopharmaceutical company. Scinai has already received approximately $650,000 of cash payments and advances and has begun substantive work while a broader definitive agreement remains under negotiation. The program is intended to support an investigational drug toward a U.S. IND submission and Phase III clinical development.
Scinai continues to pursue approximately $5 million of CDMO revenue for 2026. The company ended June with approximately $2.9 million of cash, cash equivalents and restricted cash and used $3.9 million of cash in operating activities during the first half.
KEY QUOTES:
“As we move through the second half of the year, our focus is increasingly on commercial execution, increasing facility utilization and converting the capabilities we have built into revenue.”
Amir Reichman, Chief Executive Officer of Scinai
