Scinai Gets Nasdaq Listing Extension

TL;DR

Nasdaq gives Scinai more time to fix listing issues - no delisting yet.

AI Summary

Scinai Immunotherapeutics Ltd. announced on July 3, 2024, that the Nasdaq Hearing Panel has granted an extension for the company to regain compliance with Nasdaq's continued listing requirements. This extension provides Scinai with additional time to meet the necessary criteria for remaining listed on the Nasdaq Stock Market.

Why It Matters

This extension gives Scinai Immunotherapeutics more time to address the issues that put its Nasdaq listing at risk, potentially avoiding delisting and maintaining investor confidence.

Risk Assessment

Risk Level: medium — The company is still in danger of being delisted if it cannot meet the Nasdaq's continued listing requirements within the granted extension period.

Key Players & Entities

• Scinai Immunotherapeutics Ltd. (company) — Registrant
• Nasdaq Hearing Panel (company) — Granted the extension
• July 3, 2024 (date) — Date of press release

FAQ

From the Filing

0001213900-24-059740.txt : 20240708 0001213900-24-059740.hdr.sgml : 20240708 20240708123750 ACCESSION NUMBER: 0001213900-24-059740 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240708 FILED AS OF DATE: 20240708 DATE AS OF CHANGE: 20240708 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Scinai Immunotherapeutics Ltd. CENTRAL INDEX KEY: 0001611747 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37353 FILM NUMBER: 241103952 BUSINESS ADDRESS: STREET 1: JERUSALEM BIOPARK, 2ND FLOOR STREET 2: HADASSAH EIN KEREM CAMPUS CITY: JERUSALEM STATE: L3 ZIP: 00000 BUSINESS PHONE: 972-8-9302529 MAIL ADDRESS: STREET 1: JERUSALEM BIOPARK, 2ND FLOOR STREET 2: HADASSAH EIN KEREM CAMPUS CITY: JERUSALEM STATE: L3 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: BiondVax Pharmaceuticals Ltd. DATE OF NAME CHANGE: 20140624 6-K 1 ea0209077-6k_scinai.htm REPORT OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 Under the Securities Exchange Act of 1934 For the Month of July 2024 Commission File Number: 001-37353 SCINAI IMMUNOTHERAPEUTICS LTD. (Translation of registrant’s name into English) Jerusalem BioPark, 2nd Floor Hadassah Ein Kerem Campus Jerusalem, Israel (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ On July 3, 2024, Scinai Immunotherapeutics Ltd. issued a press release announcing the extension granted by the Nasdaq Hearing Panel to the registrant to regain compliance with the continued listing requirements. A copy of the press release is furnished herewith as Exhibit 99.1. This Report on Form 6-K is hereby incorporated by reference into the registrant’s Registration Statements on Form S-8 (File No. 333-271293 and File No. 333-239344 ) and Form F-3 (File No. 333-274078 and File No. 333-276767 ), to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished. Exhibit Index Exhibit No. Description 99.1 Press Release, dated July 3, 2024 1 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Scinai Immunotherapeutics Ltd. Date: July 8, 2024 By: /s/ Amir Reichman Amir Reichman Chief Executive Officer 2 EX-99.1 2 ea020907701ex99-1_scinai.htm PRESS RELEASE, DATED JULY 3, 2024 Exhibit 99.1 Scinai Immunotherapeutics Granted Extension by Nasdaq Hearing Panel to Regain Compliance with Continued Listing Requirements JERUSALEM, July 3, 2024 – Scinai Immunotherapeutics Ltd. (Nasdaq: SCNI) (the “Company”), a biotechnology company focused on developing inflammation and immunology (I&I) biological products and on providing CDMO services through its Scinai Bioservices business unit, today announced that it has received notice from the Nasdaq Hearings Panel (the “Hearings Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Hearings Panel has determined to grant the Company’s request to continue its listing on The Nasdaq Stock Market, subject to the Company meeting certain conditions, including filing on or before August 14, 2024, a public disclosure demonstrating compliance with the Equity Requirement (defined below). As previously disclosed, on May 20, 2024, the Company received a staff determination letter from the Listing Qualifications Department (the “Staff”) of Nasdaq notifying the Company that it is not in compliance with the minimum st