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Eterna Therapeutics Inc. - ERNA STOCK NEWS

Welcome to our dedicated page for Eterna Therapeutics news (Ticker: ERNA), a resource for investors and traders seeking the latest updates and insights on Eterna Therapeutics stock.

Eterna Therapeutics Inc. (Nasdaq: ERNA) is a leading biopharmaceutical company focused on developing transformational new medicines through advanced mRNA cell engineering technologies. The company's core mission is to harness these technologies to repair cellular dysfunction and address a diverse range of therapeutic indications.

As a pioneer in the field, Eterna is actively engaged in creating groundbreaking mRNA-based therapies aimed at improving patient health outcomes, particularly for those with high unmet medical needs. The company’s extensive portfolio includes over 130 in-licensed patents that cover critical technologies such as mRNA cell reprogramming, mRNA gene editing, and unique delivery systems like the ToRNAdo™ mRNA delivery system, in collaboration with Factor Bioscience.

Eterna's most advanced program includes multiple next-generation therapies in the preclinical stage, targeting conditions like acute respiratory distress syndrome, solid tumors, and rare genetic diseases through in vivo gene-editing therapies. The company's flagship product, IRX-2, a human cell-derived cytokine therapy, has shown promising results in clinical trials for head and neck cancer and is currently advancing through Phase 2b trials.

In recent financial developments, Eterna has successfully closed private placement transactions to raise over $9.2 million, which will support its innovative research and development projects. These transactions involve senior convertible promissory notes and accompanying warrants, reflecting investor confidence in the company's future potential.

The leadership team at Eterna has also seen strategic changes, with the recent appointment of Sanjeev Luther as President and CEO, effective January 1, 2024. Mr. Luther brings extensive experience from his previous roles in global pharmaceutical companies, which will be instrumental in driving Eterna's growth and clinical advancements.

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Eterna Therapeutics (NASDAQ: ERNA) has completed a comprehensive financial restructuring to accelerate its developmental activities. The restructuring includes: discontinuing a longstanding lease, resulting in $72 million in savings and reducing monthly cash outflow by $700,000; reducing balance sheet debt; and securing $5 million in PIPE financing.

The company continues advancing ERNA-101, an iPSC-derived mesenchymal stem cells product targeting triple-negative breast cancer and platinum-resistant, TP53-mutant ovarian cancer. Eterna targets IND submissions by 2026.

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Eterna Therapeutics Inc. (Nasdaq: ERNA) and Factor Bioscience have announced an exclusive license and collaboration agreement to accelerate the development of advanced cell therapy candidates for oncology, rare diseases, and autoimmune disorders. Eterna has secured a worldwide, exclusive license to develop and market certain induced pluripotent stem cell (iPSC)-based cell therapy products using Factor's technologies.

The agreement focuses on iPSC-derived mesenchymal stem cells (iMSC) engineered to express specific cytokines. Eterna and Factor will collaborate on data generation to demonstrate efficacy of the licensed drug candidates for development towards IND. Factor is entitled to milestone payments per product candidate and post-commercialization royalties.

This collaboration aims to accelerate the development of therapies targeting solid tumors, rare diseases, and autoimmune disorders.

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Eterna Therapeutics Inc. (Nasdaq: ERNA) presents at the ASGCT 27th Annual Meeting on the development of a beta 2 microglobulin-knockout (B2M-KO) iMSC line with enhanced immunosuppressive activity and stealthing features. The innovation aims to improve MSCs' therapeutic potential by addressing issues related to variability, in vivo persistence, and effector function. The presentation highlights the promising role of B2M-KO iMSCs in treating inflammatory diseases.

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Eterna Therapeutics Inc. (Nasdaq: ERNA) appoints Dr. Mahendra Rao, an expert in regenerative medicine and cell engineering, to its Scientific Advisory Board. Dr. Rao brings extensive experience in clinical trials and stem cell research to support Eterna's mRNA cell engineering initiatives.

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Eterna Therapeutics Inc. (ERNA) is set to present at the ASGCT 27th Annual Meeting on the development of a mRNA-engineered iPSC line mimicking native B2M expression by inserting HLA-E at the B2M locus. The technology aims to enhance safety and efficacy in developing therapeutics, providing potential benefits for the medical field.

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Eterna Therapeutics Inc. will present at the ASGCT 27th Annual Meeting on the development of a beta 2 microglobulin-knockout (B2M-KO) iMSC line with enhanced immunosuppressive activity and stealthing features, potentially improving the therapeutic potential of MSCs in treating inflammatory diseases. The presentation aims to address challenges such as variability in therapeutic responses and in vivo persistence of MSCs, offering promising solutions for autoimmune and inflammatory indications.

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Eterna Therapeutics Inc. (ERNA) appoints Peter Cicala, JD, to its Board of Directors, bringing deep biotechnology and pharmaceutical industry experience. Cicala's expertise in intellectual property and strategic management aims to drive value creation and advance next-generation therapies using mRNA cell engineering.
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Eterna Therapeutics Inc. (Nasdaq: ERNA) granted a non-qualified stock option to its new President and CEO, Sanjeev Luther, to purchase 1,685,218 shares of common stock at an exercise price of $1.80 per share. The stock option will vest over four years, subject to Mr. Luther's continued service to the company.
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Eterna Therapeutics Inc. (Nasdaq: ERNA) has appointed Sanjeev Luther as President and CEO, effective January 1, 2024. Luther brings over 30 years of experience in leadership roles across biotechnology and pharmaceutical companies and has a track record of strategic planning and business development. The company aims to capitalize on its in-licensed portfolio of patented mRNA cell engineering technologies under Luther's leadership.
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Eterna Therapeutics Inc. (Nasdaq: ERNA) announced a private placement transaction to sell approximately $9.2 million aggregate principal amount of senior convertible promissory notes and accompanying warrants to purchase an aggregate of 9,579,014 shares of common stock. The notes will bear interest at a rate of 12.0% per year, payable quarterly, and mature five years after issuance unless earlier redeemed, repurchased, or converted. Each purchaser of the convertible notes will receive warrants to purchase 200% of the number of shares of Eterna common stock into which such purchaser’s note is initially convertible. The offer and sale of the securities have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption.
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FAQ

What is the current stock price of Eterna Therapeutics (ERNA)?

The current stock price of Eterna Therapeutics (ERNA) is $1.149 as of November 4, 2024.

What is the market cap of Eterna Therapeutics (ERNA)?

The market cap of Eterna Therapeutics (ERNA) is approximately 5.8M.

What does Eterna Therapeutics Inc. specialize in?

Eterna Therapeutics specializes in developing new medicines using mRNA cell engineering to treat various medical conditions, including cancer and rare genetic diseases.

What is IRX-2?

IRX-2 is a human cell-derived cytokine therapy developed by Eterna Therapeutics, currently in Phase 2b clinical trials for head and neck cancer.

Who is the new CEO of Eterna Therapeutics Inc.?

Sanjeev Luther has been appointed as the new President and CEO of Eterna Therapeutics, effective January 1, 2024.

How many patents does Eterna Therapeutics hold?

Eterna Therapeutics holds a portfolio of over 130 in-licensed patents covering key mRNA cell engineering technologies.

What are some key technologies Eterna is working on?

Eterna is working on technologies for mRNA cell reprogramming, mRNA gene editing, and the ToRNAdo™ mRNA delivery system.

How is Eterna funding its development projects?

Eterna recently raised over $9.2 million through private placement transactions involving senior convertible promissory notes and warrants.

What are the clinical focuses of Eterna's current projects?

Eterna is focusing on therapies for acute respiratory distress syndrome, solid tumors, and rare genetic diseases.

What is the ToRNAdo™ system?

The ToRNAdo™ system is a proprietary mRNA delivery technology developed by Factor Bioscience and in-licensed by Eterna Therapeutics.

Where can I find more information about Eterna Therapeutics?

More information about Eterna Therapeutics can be found on their website at www.eternatx.com.

Who are Eterna’s strategic partners?

Eterna collaborates with Factor Bioscience, leveraging their proprietary technologies such as NoveSlice™, UltraSlice™, and the ToRNAdo™ mRNA delivery system.

Eterna Therapeutics Inc.

Nasdaq:ERNA

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5.79M
5.41M
39.31%
7.21%
1.13%
Biotechnology
Pharmaceutical Preparations
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