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Charles Cherington, a significant shareholder of Eterna Therapeutics Inc. (NASDAQ:ERNA), recently acquired a substantial number of shares in the company. According to a recent filing, Cherington purchased 3,768,397 shares of common stock on April 2, 2025, through a private placement offering. The shares were acquired at a price of $0.1046 per share, amounting to a total transaction value of approximately $394,174. The purchase price represents a significant discount to the current trading price of $0.19, though InvestingPro data shows the stock has declined 92% over the past year amid high volatility, with a beta of 7.33.
This acquisition increases Cherington’s holdings in Eterna Therapeutics to a total of 20,401,602 shares. The transaction highlights a continued interest in the company’s stock, as Cherington remains a key stakeholder with more than ten percent ownership in the biotechnology firm. According to InvestingPro analysis, the company faces near-term challenges with short-term obligations exceeding liquid assets and a current ratio of 0.8. Subscribers can access 12 additional ProTips and comprehensive financial metrics for deeper insight into ERNA’s investment potential.
In other recent news, Eterna Therapeutics, now rebranded as Ernexa Therapeutics, announced a significant capital raise through a private placement. The company finalized a securities purchase agreement with accredited investors, selling 58.3 million shares of common stock and pre-funded warrants. This capital raise involves a second transaction contingent on shareholder approval, with a meeting planned by June 30, 2025. Ernexa also reported a preclinical milestone in developing its lead cell therapy product, ERNA-101, for treating advanced solid tumors, including ovarian cancer. The study showed promising results in T cell infiltration and tumor size reduction in a mouse model. In addition, Ernexa expanded its scientific advisory board by appointing two oncology experts, Jerome Zeldis and Blythe Sather, to advance its research pipeline. The company has also undergone a corporate rebranding, officially changing its name from Eterna Therapeutics to Ernexa Therapeutics. These developments reflect Ernexa’s ongoing strategic and scientific initiatives in the pharmaceutical sector.
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