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Ernexa Therapeutics Inc. (NASDAQ:ERNA), a small-cap biotech company currently valued at $13.54 million and showing signs of financial strain according to InvestingPro data, announced a change in its independent registered public accounting firm. According to a statement released Monday, the company’s audit committee approved the dismissal of Grant Thornton LLP as Ernexa’s auditor effective June 30.
Grant Thornton had served as the auditor for Ernexa’s consolidated financial statements for the years ended December 31, 2024 and 2023. The auditor’s reports for those years did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles, except for an explanatory paragraph that raised substantial doubt about Ernexa’s ability to continue as a going concern.
The company stated that during the two years ended December 31, 2024, and the interim period through June 30, 2025, there were no disagreements between Ernexa and Grant Thornton on accounting principles, financial statement disclosures, or audit procedures that would have required disclosure. The company did note a material weakness in internal control over financial reporting as of and for the year ended December 31, 2023, related to technical accounting proficiency in complex matters.
Grant Thornton was provided with a copy of these disclosures and was requested to furnish a letter to the Securities and Exchange Commission stating whether it agreed with the company’s statements. The letter from Grant Thornton is included as an exhibit to the filing.
On July 1, Ernexa’s audit committee approved the engagement of Haskell & White LLP as the new independent registered public accounting firm. The company reported that neither Ernexa nor anyone acting on its behalf consulted Haskell & White regarding the application of accounting principles to a specific transaction or any audit opinion prior to the engagement, nor were there any reportable events or disagreements as defined by SEC regulations.
This information is based on a statement filed with the Securities and Exchange Commission.
In other recent news, Ernexa Therapeutics announced the completion of the second closing of its securities purchase agreement, raising approximately $6 million in gross proceeds. This follows an earlier closing that generated $1.1 million, with the funds intended for general working capital and debt repayment. The company also enacted a 1-for-15 reverse stock split to consolidate shares and maintain compliance with Nasdaq listing requirements. This strategic move reduced the number of outstanding shares, increasing the per-share price without altering the company’s market capitalization. Additionally, Ernexa reported promising results from its latest study on a cell therapy for ovarian cancer, presented at the AACR Annual Meeting 2025. The study demonstrated that engineered cells could slow tumor growth and enhance the immune system’s cancer-fighting ability. These developments highlight Ernexa’s ongoing efforts to strengthen its financial foundation and advance its clinical programs, particularly its lead product, ERNA-101. The company’s recent actions are part of a broader strategy to maintain access to capital markets and support its innovative therapies for cancer and autoimmune diseases.
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