Bullish indicating open at $55-$60, IPO prices at $37
ERNA Inc. shares plummeted to a 52-week low this week, with the stock price touching just $0.16. The company’s extreme volatility is reflected in its high beta of 7.33, while its current ratio of 0.8 indicates potential liquidity concerns. According to InvestingPro data, ERNA’s EBITDA stands at -$17.11M for the last twelve months. This significant drop reflects a broader trend for the company, which has seen its value decrease by a staggering 92.77% over the past year. Investors have been wary as the company grapples with challenges that have eroded market confidence, leading to a sharp sell-off and leaving ERNA at a critical juncture. The 52-week low serves as a stark indicator of the hurdles ERNA faces as it seeks to stabilize and eventually regain its footing in the market. InvestingPro subscribers have access to 13 additional key insights about ERNA’s financial health and market position.
In other recent news, Eterna Therapeutics has announced a significant capital raise through a private placement agreement, involving the sale of 58.3 million shares and pre-funded warrants. This transaction, partially completed on April 2, 2025, represents 19.99% of the company’s outstanding shares, with the remaining contingent on shareholder approval. Furthermore, Eterna Therapeutics has rebranded to Ernexa Therapeutics, effective March 26, 2025, as per their filing with the Secretary of State of Delaware. The rebranding includes amended bylaws to reflect the new corporate identity, though no changes were made to the company’s operations or management.
Additionally, Eterna Therapeutics has scheduled its 2025 annual meeting of stockholders for June 2, 2025, following a rescheduling from the original May 1 date. The company has also expanded its scientific advisory board by appointing oncology experts Jerome Zeldis and Blythe Sather, aiming to advance its therapeutic pipeline. In collaboration with MD Anderson Cancer Center, Eterna reported a preclinical milestone for its lead cell therapy product, ERNA-101, showing promising results in ovarian cancer treatment. This therapy demonstrated increased T cell infiltration and tumor reduction in a mouse model, indicating potential for future development. These developments reflect Eterna’s strategic efforts to advance its research and engage with shareholders.
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