Eterna Therapeutics Inc. - ERNA STOCK NEWS

Eterna Therapeutics Inc. has acquired the global immuno-oncology platform of Exacis Biotherapeutics. The acquisition includes Exacis' pipeline of engineered cell therapy programs for hematologic and solid tumors. Eterna now has an exclusive global license to produce mRNA-engineered natural killer and T-cell therapies derived from induced pluripotent stem cells. The terms of the acquisition include an upfront payment in shares of Eterna common stock, as well as milestone and other potential payments totaling up to $49.0 million.

Eterna Therapeutics Inc. (ERNA) has entered into a common stock purchase agreement with Lincoln Park Capital Fund, LLC for up to $10 million. This arrangement allows LPC to purchase shares at Eterna's discretion over a 24-month period, starting upon certain conditions being met, including an effective registration statement with the SEC. The price per share will be based on prevailing market prices at the time of each sale. Notably, LPC has agreed to refrain from short selling or engaging in hedging of Eterna's stock. Eterna retains complete control over the timing and amount of share sales and can terminate the agreement at any time without penalty. CEO Matt Angel stated this agreement enhances financial flexibility to support the development of next-generation mRNA therapies, leveraging the company’s extensive patent portfolio.

Eterna Therapeutics (Nasdaq: ERNA) has appointed Jeff Karp, Ph.D., to its Scientific Advisory Board. Dr. Karp, an esteemed scientist and entrepreneur, brings extensive expertise in drug delivery and cell therapeutics, aiming to advance Eterna’s mRNA cell engineering platform. CEO Matt Angel highlighted Dr. Karp's successful track record and innovation in biomedical products. Dr. Karp expressed enthusiasm about contributing to Eterna's mission to develop transformative mRNA-based therapies. The company holds over 100 patents relating to key mRNA technologies, including gene editing and delivery systems.

Eterna Therapeutics Inc. (Nasdaq: ERNA) has made significant strides in their financial results for 2022, reporting a net loss of $24.6 million, or $8.06 per share. Key highlights include an exclusive income-generating agreement with Lineage Cell Therapeutics for developing gene-edited iPSC therapies, and a sublease for 45,000 sq. ft. at Cambridge Crossing from Bristol Myers Squibb. R&D expenses totaled $10.4 million for the year, with general and administrative costs at $16.8 million. Eterna ended 2022 with approximately $15.5 million in cash. The company continues to leverage its mRNA cell engineering patent portfolio, positioning itself for future growth.

Eterna Therapeutics (Nasdaq: ERNA) has announced an exclusive option and license agreement with Lineage Cell Therapeutics for developing novel induced hypoimmune pluripotent stem cell lines. This collaboration aims to explore innovative cell transplant therapies for central nervous system disorders. Eterna, leveraging its patented mRNA cell engineering platform, will perform gene-editing activities and provide materials to Lineage, which can then utilize these novel cell lines for various therapeutic applications. Additionally, the agreement emphasizes reducing immunogenicity in product candidates, an important factor in enhancing their utility.

Eterna Therapeutics Inc. (Nasdaq: ERNA) has appointed Matt Angel, Ph.D., as its permanent Chief Executive Officer and President, continuing from his role as Interim CEO since May 2022. The Board expressed confidence in his leadership, emphasizing the need to advance Eterna’s mRNA cell engineering platform. Dr. Angel brings extensive experience in biotechnology and a significant patent portfolio, including over 100 patents related to gene editing and mRNA technologies. Eterna focuses on leveraging its in-licensed patent portfolio to drive value in 2023.

Eterna Therapeutics Inc. (Nasdaq: ERNA) has entered into a sponsored research agreement with Dr. Michael Andreeff from MD Anderson Cancer Center to evaluate its gene-edited iPS cell therapeutic candidates. The research aims to enhance T-cell immunity and promote hematopoietic regeneration, potentially accelerating treatments for acute myeloid leukemia and solid tumors. Eterna's mRNA-based cell therapies are noted for their manufacturing consistency. CEO Matt Angel expressed enthusiasm for advancing cancer treatment through this agreement, which is a critical component of Eterna's cancer therapy pipeline.

Eterna Therapeutics Inc. (Nasdaq: ERNA) announced that Dr. Matt Angel, the Interim CEO, will present at the iPSC-Derived Immunotherapies Congress on October 18-19, 2022, in Boston. The presentation, titled "Avoiding Vector Integration Using mRNA Vectorization of Reprogramming and Gene Editing Proteins," is scheduled for October 18, 2022, at 3:10 p.m. ET at the Hilton Boston Back Bay Hotel. Eterna focuses on advanced cell engineering technology to develop new medicines and holds over 100 patents related to cell engineering.

Eterna Therapeutics Inc. (Nasdaq: ERNA) announced an option agreement with Exacis Biotherapeutics to negotiate an exclusive, worldwide license for developing up to four iNK and/or iT cell programs targeting hematologic malignancies and solid tumors. This partnership highlights Exacis' advanced non-viral cell engineering technology, aimed at creating next-generation therapies without the risks associated with viral integration. The agreement must be finalized by December 31, 2022. Eterna has also completed its name change from Brooklyn ImmunoTherapeutics.