02:48 PM EDT, 03/27/2025 (MT Newswires) -- Scinai Immunotherapeutics ( SCNI ) said Thursday it signed a binding option agreement to acquire Italian biotech firm Pincell by the end of the year.

To facilitate a grant application, Pincell exclusively licensed PC111 to Scinai's wholly owned Polish subsidiary, which submitted an application under the European Funds for a Modern Economy program in Poland. Scinai is seeking 12 million euros ($12.9 million) in non-dilutive funding for PC111's development.

Shares of Scinai slid nearly 16% as intraday trading volume rose to over 140,000 versus a daily average of over 11,000.

Tesla (TSLA) will be the carmaker least impacted by President Donald Trump's tariffs on car imports, while General Motors ( GM ) and German carmakers will be the most negatively impacted, RBC Capital Markets said.

Shares of General Motors ( GM ) dropped 6.8% following an increase in intraday trading volume to over 27.6 million from a daily average of about 13 million.

Advanced Micro Devices ( AMD ) shares fell 3.2% after Jefferies downgraded the company's stock to hold from buy and cut its price target to $120 from $135.

Intraday trading volume reached roughly 25.6 million shares versus a daily average of about 38.4 million.

Price: 2.84, Change: -0.53, Percent Change: -15.63