India, June 5 -- Shares of Scinai Immunotherapeutics Ltd. (SCNI) surged over 70% on Thursday morning after the company said it received Italian government clearance under Golden Power Regulation for its potential acquisition of Pincell S.r.l., an Italian biotechnology company.
SCNI is currently trading at $4.3408, up $1.8208 or 71.9911%, on a huge volume of 14 million shares, above average volume of 13 thousand, on the Nasdaq. The stock opened its trading at $6.0000 after closing Wednesday at $2.5200. The stock has traded between $1.9000 and $8.9200 in the past 52-week period.
This approval was issued following a review by the Coordination Group for the exercise of special powers, based on the outcome of the assessment conducted by the Mi...