India, March 27 -- Shares of Scinai Immunotherapeutics Ltd. (SCNI) dropped 14% on Thursday morning after the company signed an option agreement to acquire rare disease company Pincell and its novel antibody for treating severe dermatological conditions.
SCNI is currently trading at $2.8830, down $0.4770 or 14.1964%, on the Nasdaq. The stock opened its trading at $3.7500 after closing Wednesday $3.3600. The stock has traded between $2.2300 and $8.9200 in the past 52-week period.
Scinai Immunotherapeutics announced that it entered into a binding option agreement for the acquisition of the Italian biotech company Pincell srl.
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The option agreement allows Sc...