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BOSTON—Charles Cherington, a ten percent owner of Ernexa Therapeutics Inc. (NASDAQ:ERNA), recently acquired a significant stake in the company through a private placement offering. According to a filing with the Securities and Exchange Commission, Cherington purchased 21,241,163 shares of common stock at a price of $0.1046 per share, totaling approximately $2.22 million. The purchase comes as ERNA trades at $0.16, down nearly 92% over the past year, with InvestingPro data showing the company maintains impressive gross profit margins of 93%.
This acquisition, dated June 9, 2025, follows stockholder approval and results in Cherington holding 41,659,743 shares post-transaction. The transaction highlights ongoing investor interest and engagement with Ernexa Therapeutics as it continues to navigate the competitive biotechnology landscape. With a current market cap of $9.67 million and a weak financial health score, InvestingPro subscribers can access 14 additional key insights about ERNA’s insider trading patterns and financial outlook.
In other recent news, Ernexa Therapeutics has announced a reverse stock split at a ratio of 1-for-15, effective June 12, 2025. This move is part of the company’s efforts to comply with Nasdaq’s minimum bid price requirement. Additionally, Ernexa reported promising results from its latest study on a cell therapy for treating ovarian cancer, which was presented at the AACR Annual Meeting 2025. The study demonstrated that engineered cells could significantly slow tumor growth and enhance the immune system’s ability to fight cancer. Furthermore, Ernexa has entered into agreements for a significant capital raise through a private placement with accredited investors, involving the sale of common stock and pre-funded warrants. This transaction is contingent on shareholder approval, with a meeting planned by June 30, 2025. Recently, Ernexa also underwent a corporate rebranding, changing its name from Eterna Therapeutics to Ernexa Therapeutics, effective March 26, 2025. The name change is part of the company’s ongoing evolution in its corporate strategy while maintaining its focus on pharmaceutical preparations.
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