IPO - Scinai Immunotherapeutics Ltd.

Form Type: F-1/A

Filing Date: 2025-03-11

Corporate Action: Ipo

Type: Update

Accession Number: 000121390025022648

Filing Summary: Scinai Immunotherapeutics Ltd. is filing an amendment to its registration statement for an initial public offering (IPO) of American Depositary Shares (ADSs), each representing 4,000 ordinary shares. This prospectus outlines the offer and sale of up to 3,022,796 ADSs, representing 12,091,184,000 ordinary shares, through YA II PN, Ltd., a selling shareholder. The registration process began with an effective date pending, where the securities will not be sold until this statement receives the SEC's approval. The document clarifies that the company is not selling any securities directly and will not receive proceeds from the ADS sales, although it may receive up to $10 million from future sales under a separate Purchase Agreement. There are highlighted risks including dependency on further financing, potential Nasdaq delisting, and operational impacts from socio-political issues in Israel. The company's strategy focuses on developing nanosized antibodies to treat unmet medical needs, with ongoing collaborations for product development. The filing includes traditional IPO disclosures, potential risks for investors, and a description of corporate operations and future prospects, including a Phase 1/2 clinical trial for their anti-IL-17 product candidate slated for 2026. Further, the company emphasizes the high risk associated with investments in a developmental stage biopharmaceutical company without current profitability.