Scinai Immunotherapeutics (SCNI) has released an update.
Scinai Immunotherapeutics, a biotech company, has been granted an extension by the Nasdaq Hearings Panel to regain compliance with stockholders’ equity requirements for continued listing on the Nasdaq Capital Market. The firm has until August 14, 2024, to demonstrate compliance, following its presentation of a plan to convert a significant loan into equity. While the company has been given the opportunity to address the equity deficiency and maintain its listing, there is no guarantee of meeting the conditions or achieving compliance.
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