Eterna Therapeutics Completes Strategic Financial Restructuring with the Aim to Accelerate its Developmental Activities and Long-Term Success
Eterna Therapeutics Inc. (ERNA)
Company Research
Source: GlobeNewswire
CAMBRIDGE, Mass., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Eterna Therapeutics Inc. (Nasdaq: ERNA) (“Eterna” or the “Company”) today announced the successful completion of a comprehensive financial restructuring of the Company with the aim to accelerate its developmental activities and long-term success. This restructuring includes reduction of its liabilities by discontinuing a longstanding lease, reducing the debt on its balance sheet and a new round of financing through a private investment in public equity (PIPE) investment. As a part of this financial restructuring, the Company has significantly reduced its liability by discontinuing a longstanding lease, resulting in an estimated $72 million in savings and a reduction of approximately $700,000 in monthly cash outflow. With shareholder approval at the October 29, 2024, annual meeting, the Company also completed a series of transactions that significantly reduced its balance sheet debt. The company has additionally secured a new round
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- Eterna Therapeutics Announces Up to $1 Million Stock Repurchase Program [Yahoo! Finance]Yahoo! Finance
- Eterna Therapeutics Announces Up to $1 Million Stock Repurchase ProgramGlobeNewswire
- Eterna Therapeutics Regains Compliance with NASDAQ for Continued Listing [Yahoo! Finance]Yahoo! Finance
ERNA
Sec Filings
- 11/18/24 - Form 424B3
- 11/18/24 - Form 424B3
- 11/18/24 - Form 424B3
- ERNA's page on the SEC website