Scinai Immunotherapeutics Regains Nasdaq Listing Compliance

TL;DR

Scinai's back on Nasdaq, dodged delisting!

AI Summary

Scinai Immunotherapeutics Ltd. announced on August 29, 2024, that it has regained compliance with the Nasdaq Stock Market's listing requirements. This follows a period where the company was at risk of delisting, but has now met the necessary criteria to remain listed on the Nasdaq.

Why It Matters

Regaining Nasdaq compliance is crucial for Scinai as it ensures continued trading on a major stock exchange, maintaining investor confidence and access to capital markets.

Risk Assessment

Risk Level: low — The company has officially regained compliance with Nasdaq listing rules, removing the immediate risk of delisting.

Key Players & Entities

• Scinai Immunotherapeutics Ltd. (company) — Registrant
• Nasdaq Stock Market (company) — Stock exchange where Scinai is listed
• August 29, 2024 (date) — Date of announcement

FAQ

From the Filing

0001213900-24-073532.txt : 20240829 0001213900-24-073532.hdr.sgml : 20240829 20240829062912 ACCESSION NUMBER: 0001213900-24-073532 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240829 FILED AS OF DATE: 20240829 DATE AS OF CHANGE: 20240829 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: 241258413 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 ea0212795-6k_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 August 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 ☐ Explanatory Note On August 29, 2024, Scinai Immunotherapeutics Ltd. issued a press release announcing that it has received formal notification from the Listing Qualification Department of the Nasdaq Stock Market that the Company has regained compliance with Nasdaq Listing Rule 5550(b)(1) that requires listed companies to maintain stockholders’ equity of at least $2.5 million, and that it was now back in full compliance with all applicable 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 August 29, 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: August 29, 2024 By: /s/ Amir Reichman Amir Reichman Chief Executive Officer 2 EX-99.1 2 ea021279501ex99-1_scinai.htm PRESS RELEASE DATED AUGUST 29, 2024 Exhibit 99.1 Scinai Regains Full Compliance with Nasdaq Listing Requirements Jerusalem, ISRAEL – aUGUST 29 , 2024 – Scinai Immunotherapeutics Ltd. (Nasdaq: SCNI; “Scinai”, or the “Company”), a biopharmaceutical 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 on August 27, 2024, it received formal notification (the “Notification”) from the Listing Qualification Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) that the Company has regained compliance with Nasdaq Listing Rule 5550(b)(1) (the “Rule”) that requires listed companies to maintain stockholders’ equity of at least $2.5 million. On August 21, 2024, the Company announced th