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Ernexa Therapeutics Inc. (NASDAQ:ERNA) has announced a reverse stock split of its common stock at a ratio of 1-for-15, effective today, Thursday. The Delaware-incorporated pharmaceutical company filed a certificate of amendment to its Restated Certificate of Incorporation to enact the reverse split. The move comes as the stock has declined nearly 92% over the past year, with the current price at $2.37, according to InvestingPro data.
This strategic move is aimed at consolidating the company’s shares, which is a common practice among public companies to boost their stock price and maintain compliance with exchange listing requirements. The reverse stock split reduces the number of shares outstanding, thereby increasing the per-share price without changing the company’s market capitalization, which currently stands at $9.6 million. InvestingPro analysis reveals the company maintains impressive gross profit margins of 93%, though it faces challenges with cash burn and short-term obligations.
The company’s common stock will continue to trade on The Nasdaq Stock Market LLC under the trading symbol "ERNA." The reverse stock split is expected to take immediate effect, and shareholders will see the change reflected in their holdings. The stock has shown significant volatility, trading between a 52-week high of $39.37 and a low of $2.14. InvestingPro subscribers have access to 16 additional key insights about ERNA’s financial health and market position.
The SEC filing also included the company’s current business address in Cambridge, MA, along with its telephone number, and confirmed the company’s name changes from Eterna Therapeutics Inc. and previous names, reflecting its evolving business focus.
Investors and stakeholders can find further details about the reverse stock split in the company’s SEC filing, which includes a complete Certificate of Amendment to the Company’s Restated Certificate of Incorporation. Additionally, the filing provides an interactive data file for the cover page, which is embedded within the Inline XBRL document.
Ernexa Therapeutics’ President and Chief Executive Officer, Sanjeev Luther, signed off on the SEC filing, affirming the company’s compliance with the Securities Exchange Act of 1934.
This report is based on a press release statement from Ernexa Therapeutics Inc. and contains only factual information relevant to the company’s financial and corporate status as of today.
In other recent news, Ernexa Therapeutics announced a 1-for-15 reverse stock split of its common stock, effective June 12, 2025, aimed at maintaining compliance with Nasdaq’s minimum bid price requirement. This move will consolidate every 15 shares into one new share, reducing the total number of outstanding shares to approximately 7.4 million. Additionally, Ernexa reported promising study results for its cell therapy product, ERNA-101, at the AACR Annual Meeting 2025. The study showed that engineered cells derived from stem cells could significantly slow tumor growth in ovarian cancer. In financial developments, Ernexa entered into a securities purchase agreement to raise capital, involving the sale of 58.3 million shares and pre-funded warrants. This transaction is contingent on shareholder approval, with a meeting planned by June 30, 2025. Furthermore, Ernexa recently underwent a corporate rebranding, officially changing its name from Eterna Therapeutics. The name change, effective March 26, 2025, reflects the company’s ongoing evolution in its corporate strategy.
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