AcquisitionsMay 8, 2026, 07:26 AM
Scinai Immunotherapeutics Files Pro Forma Financials for Acquisition
AI Summary
Scinai Immunotherapeutics Ltd. filed unaudited pro forma condensed consolidated financial information reflecting its acquisition of Scinai Biopharma Service Ltd. (formerly Recipharm Israel Ltd.). The pro forma statement as of December 31, 2025, shows total assets of $19,576 thousand and a gross loss of $(4,334) thousand for the year. The acquired entity, Recipharm Israel Ltd., reported a loss of NIS 9,395 thousand for 2025 and had a significant deficit in equity and working capital, raising substantial doubt about its ability to continue as a going concern without parent company support.
Key Highlights
- Pro forma total assets as of December 31, 2025, were $19,576 thousand.
- Pro forma revenues for the year ended December 31, 2025, were $2,389 thousand.
- Pro forma gross loss for the year ended December 31, 2025, was $(4,334) thousand.
- Recipharm Israel Ltd. reported a loss of NIS 9,395 thousand for the year ended December 31, 2025.
- Recipharm Israel Ltd. had a deficit in equity of NIS 51,382 thousand as of December 31, 2025.
- Recipharm Israel Ltd. had a working capital deficit of NIS 22,819 thousand as of December 31, 2025.
- Auditors raised substantial doubt about Recipharm Israel Ltd.'s ability to continue as a going concern.