Ernexa Therapeutics Inc. (ERNA)
Ernexa Therapeutics Inc. is a biotechnology firm currently in its preclinical development phase, specializing in the creation of therapeutic interventions using induced mesenchymal stem cells (iMSCs). The company's primary focus lies in addressing solid tumor cancers and a range of autoimmune diseases. Its flagship candidate, ERNA-101, is an allogeneic iMSC designed to release pro-inflammatory cytokines, namely IL-7 and IL-15, intended for the treatment of ovarian cancer. Additionally, Ernexa is developing ERNA-102, an iMSC product engineered to secrete the anti-inflammatory cytokine IL-10, aimed at managing rheumatoid arthritis. The company has a licensing arrangement in place with Factor Bioscience Limited. Established in 2018, this Cambridge, Massachusetts-based entity operated as Eterna Therapeutics Inc. until its rebranding to Ernexa Therapeutics in March 2025.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Ernexa Therapeutics Inc.
NASDAQ:ERNAHealthcare · Biotechnology
-6.64%$1.97
AH$1.97+0.00%vs close
Mkt Cap$3.22M
Float967K
O/S1.63M
Vol
$ Vol
RVOL
Inst Own2.4%
SI2.1%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$14.08M
Total Assets$5.83M
Free Cash Flow-$7.05M
Debt & Equity
Debt 17%
Equity 83%
Preferred 0%
Total Debt$490K
Total Equity$2.4M
Preferred Stock$1K
Shares Outstanding
Short Interest
Split History2 splits · 2 reverse
2-year cumulative
1:375Over cap
Past the 1:250 Nasdaq cap, ineligible for a bid-price compliance period
- 1:25Reverse splitMay 4, 202625 shares → 1
- 1:15Reverse splitJun 12, 202515 shares → 1
Balance Sheet Details
Assets$5.83M
Liabilities$3.43M
Accounts Receivable$95K
Accounts Payable$1.13M
Inventory$0
PP&E (Net)$547K
Goodwill$2.04M
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Revenue | $0 | $582K | $68K | $0 | $0 | $0 | $19.81M | $23.34M | $21.27M | $22.31M | $24.52M |
| YoY Growth | - | 755.9% | - | - | - | - | -15.1% | 9.7% | -4.7% | -9.0% | - |
| Cost of Revenue | $0 | $96K | $236K | $0 | $0 | $98K | $7.84M | $8.38M | $7.09M | $8.13M | $13.06M |
| Gross Profit | $0 | $486K | -$168K | $0 | $0 | -$98K | $11.96M | $14.95M | $14.19M | $14.18M | $11.46M |
| Gross Margin | - | 83.5% | -247.1% | - | - | - | 60.4% | 64.1% | 66.7% | 63.6% | 46.7% |
| Research and Development | $4.16M | $4.6M | $5.92M | $10.39M | $12.71M | $3.95M | $26K | $72K | $139K | $0 | $0 |
| Selling, General, and Administrative | $5.16M | $13.13M | $14.59M | $16.55M | $14.72M | $3.3M | $13.15M | $14.41M | $15.45M | $16.46M | $18.06M |
| Other | $0 | -$1.58M | $461K | $6.27M | $86.3M | -$98K | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $9.32M | $16.16M | $20.97M | $33.22M | $113.73M | $7.15M | $13.18M | $14.49M | $15.59M | $16.46M | $18.06M |
| Operating Income (EBIT) | -$9.32M | -$15.67M | -$21.14M | -$33.22M | -$113.73M | -$7.25M | -$1.21M | $464K | -$1.4M | -$2.28M | -$6.6M |
| Operating Margin | - | -2693.1% | -31080.9% | - | - | - | -6.1% | 2.0% | -6.6% | -10.2% | -26.9% |
| Interest Expense | $27K | $6.75M | $614K | $30K | $74K | $43K | $249K | $389K | $498K | $576K | $484K |
| Interest Income | $83K | $249K | $138K | $0 | $0 | $0 | - | $0 | $0 | $0 | $3K |
| Other Income (Expense) | -$4.81M | -$28.84M | -$536K | $8.68M | -$8.75M | -$19.28M | -$808K | -$787K | $391K | -$607K | -$614K |
| Income Before Tax (EBT) | -$14.13M | -$44.51M | -$21.67M | -$24.53M | -$122.48M | -$26.53M | -$2.02M | -$323K | -$1.01M | -$2.88M | -$7.21M |
| Income Tax Expense | -$45K | $30K | -$3K | $45K | $64K | $0 | $27K | -$64K | $66K | $38K | $12K |
| Net Income | -$14.08M | -$44.54M | -$21.67M | -$24.58M | -$122.55M | $11.91M | -$2.05M | -$259K | -$1.08M | -$2.92M | -$7.23M |
| Net Income Margin | - | -7652.7% | -31864.7% | - | - | - | -10.3% | -1.1% | -5.1% | -13.1% | -29.5% |
| Supplementary Data | |||||||||||
| EPS | -56.00 | -39.25 | -102.00 | -201.50 | -1415.25 | -87.75 | -712.00 | -96.25 | -441.00 | -1536.00 | -3931.50 |
| Diluted EPS | -56.00 | -39.25 | -102.00 | -201.50 | -1415.25 | -87.75 | -712.00 | -96.25 | -441.00 | -1536.00 | -3931.50 |
| Weighted Average OS | 252,280 | 1.14M | 212,560 | 122,040 | 86,600 | 69,314 | 2,875 | 2,688 | 2,442 | 1,903 | 1,838 |
| EBITDA | -$13.84M | -$36.12M | -$19.93M | -$24.01M | -$121.95M | -$26.39M | $1.4M | $3.23M | $915K | $609K | -$3.63M |
| EBITDA Margin | - | -6206.0% | -29314.7% | - | - | - | 7.1% | 13.8% | 4.3% | 2.7% | -14.8% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $1.88M | $1.73M | $7.58M | $11.45M | $16.98M | $1.63M | $3.26M | $2.59M | $3.38M | $5.69M | $3.22M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.88M | $1.73M | $7.58M | $11.45M | $16.98M | $1.63M | $3.26M | $2.59M | $3.38M | $5.69M | $3.22M |
| Accounts Receivable | $95K | $437K | $425K | $951K | $684K | $0 | $1.2M | $1.14M | $714K | $928K | $919K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $1.09M | $2.54M | $4.87M | $3M | $0 |
| Other Current Assets | $1.15M | $186K | $1.6M | $0 | $0 | $0 | $526K | $517K | $680K | $1.05M | $4.97M |
| Total Current Assets | $3.13M | $2.35M | $9.6M | $13.68M | $18.77M | $1.73M | $6.07M | $6.79M | $9.64M | $10.66M | $9.11M |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $547K | $755K | $33.27M | $1.27M | $3.24M | $2.69M | $4.92M | $4.67M | $3.68M | $3.1M | $3.92M |
| Goodwill | $2.04M | $2.04M | $2.04M | $2.04M | $2.04M | $2.04M | $696K | $667K | $1M | $937K | $909K |
| Intangible Assets | $0 | $0 | $0 | $0 | $5.99M | $5.99M | $1.92M | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $59K | $1M | -$449K | $150K | $200K | $1.09M | $999K | $1.02M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $449K | $1.15M | $2.02M | $372K | $453K | $415K |
| Other Long-Term Assets | $110K | $118K | $4.21M | $5.23M | $488K | $453K | $371K | $527K | $791K | $984K | $1.45M |
| Total Long-Term Assets | $2.7M | $2.92M | $39.53M | $8.6M | $12.76M | $11.17M | $9.21M | $8.08M | $6.93M | $6.47M | $7.71M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $5.83M | $5.27M | $49.13M | $22.28M | $31.52M | $12.91M | $15.28M | $14.86M | $16.57M | $17.14M | $16.82M |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $1.13M | $1.72M | $1.07M | $1.62M | $1.75M | $1.27M | $835K | $271K | $390K | $247K | $211K |
| Short-Term Debt | $213K | $207K | $0 | $1.75M | $0 | $526K | $3.17M | $1.04M | $5.24M | $3.14M | $1.15M |
| Current Income Tax Payable | $3K | $3K | $2K | $0 | $0 | $9K | $3K | $1K | $13K | $146K | $214K |
| Current Unearned Revenue | $0 | $0 | $190K | $0 | $0 | $76K | $460K | $1.37M | $3.56M | $1.06M | $1.21M |
| Other Current Liabilities | $1.76M | $12K | $109K | -$322K | $903K | $681K | $1.04M | $1.34M | $1.56M | $2.19M | $2.55M |
| Total Current Liabilities | $3.11M | $2.94M | $6.57M | $7.65M | $3.68M | $3.13M | $6.09M | $4.02M | $10.75M | $6.64M | $5.12M |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $0 | $0 | $6.77M | $1.21M | $0 | $194K | $0 | $2.73M | $8K | $5.12M | $6.37M |
| Long-Term Unearned Revenue | $0 | $0 | $392K | $0 | $0 | $0 | $2K | $30K | $63K | $219K | $393K |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $1.13M | $41K | $424K | $441K | $415K |
| Other Long-Term Liabilities | $43K | $153K | $307K | $425K | $47K | $23K | $44K | $1.08M | -$208K | $383K | $541K |
| Total Long-Term Liabilities | $320K | $630K | $40.33M | $2.52M | $2.34M | $2.12M | $4.09M | $3.92M | $287K | $6.42M | $7.85M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.43M | $3.57M | $46.9M | $10.17M | $6.02M | $5.25M | $10.19M | $7.95M | $11.03M | $13.07M | $12.97M |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $1K | $1K | $1K | $1K | $2K | $0 | $1K | $1K | $1K | $1K | $1K |
| Common Stock | $39K | $257K | $27K | $26K | $13K | $25.8M | $14K | $14K | $13K | $11K | $462K |
| Retained Earnings | -$245.64M | -$231.54M | -$186.98M | -$165.3M | -$140.7M | -$18.14M | -$131.46M | -$129.39M | -$129.12M | -$128.03M | -$125.09M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $245K | $268K | $200K | $345K | $223K | $172K |
| Other Stockholders' Equity | $248M | $232.98M | $189.19M | $177.38M | $166.19M | $0 | $136.53M | $136.3M | $134.64M | $132.08M | $128.47M |
| Total Equity | $2.4M | $1.7M | $2.23M | $12.11M | $25.5M | $7.66M | $5.09M | $6.92M | $5.54M | $4.07M | $3.85M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $5.83M | $5.27M | $49.13M | $22.28M | $31.52M | $12.91M | $15.28M | $14.86M | $16.57M | $17.14M | $16.82M |
| Supplementary Data | |||||||||||
| Total Debt | $490K | $684K | $41.84M | $4.14M | $2.72M | $2.9M | $6.08M | $3.81M | $5.41M | $8.53M | $7.65M |
| Net Debt | -$1.39M | -$1.04M | $34.27M | -$7.31M | -$14.26M | $1.27M | $2.82M | $1.23M | $2.03M | $2.84M | $4.43M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Operating Activities | |||||||||||
| Net Income | -$14.08M | -$44.54M | -$21.67M | -$24.58M | -$122.55M | -$26.53M | -$2.05M | -$259K | -$1.08M | -$2.92M | -$7.23M |
| Depreciation & Amortization | $263K | $1.64M | $1.12M | $497K | $459K | $98K | $3.17M | $2.76M | $2.32M | $2.89M | $3.1M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $1.5M | $1.52M | $1.24M | $2.94M | $5.24M | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | -$408K | -$12K | $527K | -$262K | -$659K | $0 | -$248K | -$507K | $142K | -$83K | $1.25M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $52K | $337K | $431K | -$3.93M | -$217K | $0 |
| Accounts Payable | $60K | $183K | -$2.9M | $2.03M | -$485K | -$1.73M | $669K | -$186K | -$586K | $47K | -$372K |
| Other Working Capital | $297K | -$2.15M | $254K | $1.94M | -$1.15M | $679K | -$795K | -$2.01M | $2.64M | -$318K | -$2.54M |
| Total Working Capital Change | -$51K | -$1.98M | -$2.12M | $3.71M | -$2.29M | -$999K | -$37K | -$2.27M | -$1.73M | -$571K | -$1.67M |
| Other Non-Cash Items | $5.36M | $27.52M | $1.01M | -$3.54M | $95.65M | $19.33M | $1.66M | $6.92M | $10.05M | $6.66M | $6.94M |
| Net Cash from Operating | -$7.02M | -$15.84M | -$20.41M | -$20.98M | -$23.49M | -$8.1M | $2.74M | $1.36M | $549K | $23K | -$4.18M |
| Investing Activities | |||||||||||
| Capital Expenditures | -$37K | -$369K | -$19K | -$297K | -$154K | -$39K | -$1.09M | -$1.61M | -$1.45M | -$840K | -$1.63M |
| Acquisitions | $0 | $0 | $0 | $0 | -$22.71M | $0 | $29K | $33K | $0 | $0 | $9K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $4K | $0 | $250K | $119K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$37K | -$365K | -$19K | -$47K | -$22.74M | -$39K | -$1.06M | -$1.58M | -$1.45M | -$840K | -$1.62M |
| Financing Activities | |||||||||||
| Debt Repaid | -$2.25M | -$1.41M | -$16.5M | $2K | $942K | - | - | $1.65M | $3.23M | -$583K | - |
| Common Stock Issuance | $4.96M | $0 | $320K | $19.71M | $62.52M | $4.36M | $0 | $1.38M | $1.77M | $2.69M | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | -$16K | -$16K | -$16K | -$16K | $0 |
| Other Financing Activities | $0 | -$169K | -$251K | -$109K | $10K | $0 | -$1.08M | -$17K | $0 | -$3K | $1.98M |
| Net Cash from Financing | $7.21M | $6.26M | $16.56M | $19.58M | $61.59M | $4.67M | -$1.1M | -$303K | -$1.47M | $3.26M | $1.98M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $1.84M | $92K | $0 | $0 | $0 | $0 |
| Net Change in Cash | $155K | -$9.94M | -$3.87M | -$1.44M | $15.36M | -$1.63M | $673K | -$792K | -$2.31M | $2.44M | -$3.82M |
| Supplementary Data | |||||||||||
| Operating Cash Flow | -$7.02M | -$15.84M | -$20.41M | -$20.98M | -$23.49M | -$8.1M | $2.74M | $1.36M | $549K | $23K | -$4.18M |
| Capital Expenditure | -$37K | -$369K | -$19K | -$297K | -$154K | -$39K | -$1.09M | -$1.61M | -$1.45M | -$840K | -$1.63M |
| Free Cash Flow | -$7.05M | -$16.2M | -$20.43M | -$21.27M | -$23.64M | -$8.14M | $1.65M | -$247K | -$903K | -$817K | -$5.81M |
| Cash at Beginning | $1.73M | $11.67M | $15.54M | $16.98M | $1.63M | $3.26M | $2.59M | $3.38M | $5.69M | $3.25M | $7.05M |
| Cash at End | $1.88M | $1.73M | $11.67M | $15.54M | $16.98M | $1.63M | $3.26M | $2.59M | $3.38M | $5.69M | $3.22M |