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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.
Eterna Therapeutics (ERNA) has announced a research initiative to study ERNA-101, its lead induced mesenchymal stem cell therapy candidate, in ovarian and breast cancer models through a collaboration with MD Anderson Cancer Center. The research will examine ERNA-101's ability to induce and modulate antitumor immunity. ERNA-101 is an allogenic cell therapy derived from iPSCs that secretes IL-7 and IL-15. Based on the results, future studies may evaluate combinations with CAR T or CAR NK cell therapies in solid tumors. The project aims to generate data supporting ERNA-101's IND submission.
Eterna Therapeutics (Nasdaq: ERNA) has announced a stock repurchase program of up to $1 million of its outstanding common stock. The Board of Directors-authorized program allows repurchases through open market transactions, privately negotiated transactions, or other means in compliance with securities laws. The company's management will determine the timing and amount of repurchases based on market conditions, stock price, and other factors. The program has no set expiration date and can be suspended, modified, or discontinued at any time.
Eterna Therapeutics (Nasdaq: ERNA) has regained compliance with Nasdaq's continued listing requirements after meeting the market value standard of at least $35 million. The company received formal confirmation on November 12th, 2024, from Nasdaq's Office of General Counsel. Eterna is now positioned as a debt-free, low burn rate, preclinical stage cell therapy company focused on developing ERNA-101 for triple-negative breast cancer and platinum-resistant, TP53-mutant ovarian cancer treatments.
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.
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.
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.
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.
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.
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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