Bullish indicating open at $55-$60, IPO prices at $37
Eterna Therapeutics Inc., a pharmaceutical company specializing in preparations whose stock has declined over 89% in the past year according to InvestingPro data, announced on Monday that it has officially changed its name to Ernexa Therapeutics Inc. The Delaware-incorporated company, previously known as Brooklyn ImmunoTherapeutics, Inc., and earlier as NTN Buzztime Inc. and NTN Communications Inc., filed an amendment to its Restated Certificate of Incorporation to reflect this change. InvestingPro analysis reveals the company’s overall financial health score is rated as WEAK, with 15 additional key insights available to subscribers.
The name change to Ernexa Therapeutics became effective on March 26, 2025, as per the filing with the Secretary of State of Delaware. Alongside the rebranding, Ernexa Therapeutics also adopted amended and restated bylaws to align with the new corporate identity. These changes were documented in the company’s recent 8-K filing with the U.S. Securities and Exchange Commission.
The Cambridge, Massachusetts-based company, which trades on The Nasdaq Stock Market LLC under the ticker symbol (NASDAQ:ERNA) at $0.26 per share with an average daily trading volume of 10.92M, has not made any other changes to its business operations, management, or location as part of this rebranding. The amendment to the bylaws was solely to update the company’s name.
This rebranding initiative follows a series of previous name changes in the company’s history, signifying a continued evolution in its corporate strategy and market positioning. The company’s commitment to its core business in the pharmaceutical sector remains unchanged.
Investors and stakeholders can view the Certificate of Amendment and the Third Amended and Restated Bylaws filed with the SEC to understand the full scope of these corporate changes. The company’s President and Chief Executive Officer, Sanjeev Luther, signed off on the SEC filing, underscoring the formal execution of the name change process.
This corporate update is based on the latest statement released to the SEC and does not include any forward-looking statements or speculative commentary on the implications of the rebranding. Recent financial data from InvestingPro shows the company generated revenue of $0.58M in the last twelve months, with an EBITDA of -$17.11M, highlighting the importance of monitoring its financial progress through this transition.
In other recent news, Eterna Therapeutics has reported a significant preclinical milestone in its development of ERNA-101, a cell therapy product aimed at treating advanced solid tumors, including ovarian cancer. The study, conducted in collaboration with MD Anderson Cancer Center, demonstrated increased T cell infiltration and tumor size reduction in a mouse model, showcasing promising results. Additionally, the company has expanded its scientific advisory board by appointing oncology experts Dr. Jerome Zeldis and Dr. Blythe Sather, who bring substantial expertise to advance Eterna’s pipeline.
Eterna Therapeutics is also facing challenges with its Nasdaq listing, having received notifications for non-compliance with both the minimum market value and minimum bid price requirements. The company has been granted a 180-day period to regain compliance with each rule, with potential extensions available if certain conditions are met. Despite these challenges, Eterna Therapeutics continues to trade on Nasdaq, with its stock remaining active under the ticker "ERNA."
In governance-related developments, Eterna announced changes to its board of directors, with Dr. Elena Ratner joining as an independent director following the resignation of Dorothy Clarke. These recent developments highlight both the progress and challenges Eterna Therapeutics is navigating as it continues to focus on its therapeutic advancements and strategic partnerships.
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