Scinai more than doubles after Italian approval for biotech acquisition

Scinai Immunotherapeutics

05/06/2025 15:04

** U.S.-listed shares of Scinai Immunotherapeutics 2F5y.F, SCNI.O rise 104% to $5.15

** Stock set for its best day on record, if gains hold

** Co says it received Italian government's clearance to potentially acquire Italian biotech firm Pincell, which is developing novel antibody to treat severe skin conditions

** Approval removes major regulatory hurdle for acquisition but does not finalize deal, SCNI says

** Scinai plans to acquire 100% of Pincell's share capital and voting rights

** Acquisition, initially agreed in March, still requires meeting additional conditions before completion, co says

** Pincell's lead drug, antibody PC111, is being developed to treat rare and severe skin disorders

** Including session's moves, SCNI up 54.3% YTD

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))