Why Did Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) Make Nasdaq Top Gainer List?

Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) makes the Nasdaq top gainers list today, currently trading at 0.8867 +0.4307 (+94.45%) on a volume of 162 million shares as of this report. 

It looks like retail traders and promotions are pushing the stock following news .

Scinai Immunotherapeutics today announced that it has entered into a securities purchase agreement with an institutional life sciences investor, as well as with new and existing institutional and accredited investors, for the purchase and sale of 5,208,333 American Depositary Shares (ADSs), each representing 4,000 ordinary shares, at a purchase price of $0.48 per ADS, as well as a Series A warrant to purchase up to 5,208,333 ADSs at an exercise price of $0.48 per ADS, exercisable immediately with a term of two years, and a Series B warrant to purchase up to 5,208,333 ADSs at an exercise price of $0.55 per ADS, exercisable immediately with a term of five years.

Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) is a biopharmaceutical company focused on the development of innovative immunology therapies. The company is advancing a pipeline of therapeutic candidates licensed from the Max Planck Society and from PinCell S.r.l.

Scinai also owns Scinai Biopharma Services Ltd., a contract development and manufacturing organization (CDMO), providing development and manufacturing services to biotechnology and pharmaceutical companies. www.scinai.com

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