Scinai Immunotherapeutics Secures $15 Million Equity Purchase Agreement
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Scinai Immunotherapeutics Ltd. has entered a $15 million Standby Equity Purchase Agreement with YA II PN, LTD., allowing the sale of American Depositary Shares over the next 36 months. This agreement aims to enhance financial flexibility and investor confidence. However, Scinai faces challenges like negative cash flows and high debt, leading to a neutral rating from Spark, TipRanks’ AI Analyst. The company operates in the biotechnology sector and trades on Nasdaq under the symbol 'SCNI'.
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