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ERNA on Nasdaq

Ernexa Therapeutics Inc.

Ernexa Therapeutics Inc. is an American pharmaceutical preparations company based in Cambridge.1 Its shares trade on Nasdaq under the symbol ERNA.1

$2.05 down 0.06 (2.87%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

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  • TickerERNA on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersCambridge, Massachusetts1
  • Incorporated inDE3
  • Business address1035 Cambridge Street, Suite 18A, Cambridge, Ma 021413
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation

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“Mesenchymal Stem Cell Therapies” - Cell-based therapies based on MSCs are described.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

83.5%Gross margin5
-2693.1%Operating margin5
-7652.7%Net margin5
755.9%Revenue growth, 20245
-2618.4%Return on equity5
-$16.2MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue16¢$96.0K
  • Other costs78¢$456.0K
  • Income tax5¢$30.0K

Out of $582.0K in revenue.5 The company lost money this year.

Financial statements

Revenue6785$582.0K in 2024−97% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $19.8M$19.8M20192020: $5.8M$5.8M2020−71%2022: $0$020222023: $68.0K$68.0K20232024: $582.0K$582.0K2024+756%
Gross profit785$486.0K in 2024
-$200.0K0$200.0K$400.0K$600.0K2022: $0$020222023: -$168.0K-$168.0K20232024: $486.0K$486.0K2024
Operating income6910785-$15.7M in 2024+790% since 2019
-$150.0M-$100.0M-$50.0M02019: -$1.8M-$1.8M20192020: -$7.2M-$7.2M2020+311%2021: -$113.7M-$113.7M2021+1469%2022: -$33.2M-$33.2M2022−71%2023: -$21.1M-$21.1M2023−36%2024: -$15.7M-$15.7M2024−26%
Net income6910785-$44.5M in 2024+2076% since 2019
-$150.0M-$100.0M-$50.0M02019: -$2.0M-$2.0M20192020: -$7.3M-$7.3M2020+256%2021: -$122.5M-$122.5M2021+1581%2022: -$24.6M-$24.6M2022−80%2023: -$21.7M-$21.7M2023−12%2024: -$44.5M-$44.5M2024+106%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenue$582.0K
Cost of revenues$96.0K
Gross profit$486.0K
Research and development$4.2M$4.6M
General and administrative$5.2M$13.1M
Gain on lease termination-$1.6M
Total operating expenses$9.3M$16.2M
Loss from operations-$9.3M-$15.7M
Forward sales contract expense-$5.8M
Gain (loss) on extinguishment of debt$765.0K-$22.4M
Change in fair value of convertible notes$1.0M
Change in fair value to bridge notes derivative liability-$1.5M
Change in fair value of warrant liabilities$1.0K$414.0K
Change in fair value of contingent consideration$66.0K
Interest income$83.0K$249.0K
Interest expense-$27.0K-$6.8M
Other income, net$215.0K$70.0K
Total other expense, net-$4.8M-$28.8M
Loss before income taxes-$14.1M-$44.5M
Benefit (provision) for income taxes$45.0K-$30.0K
Net loss-$14.1M-$44.5M
Series A preferred stock dividend-$16.0K-$16.0K
Net loss attributable to common stockholders-$14.1M-$44.6M
Net loss per common share - basic-$2.24-$48.96
Net loss per common share - diluted-$2.24-$48.96
Weighted average shares outstanding - basic6.3M shares910.0K shares
Weighted average shares outstanding - diluted6.3M shares910.0K shares

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Corporate structure

Ernexa Therapeutics Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Ernexa Therapeutics Inc.

  • CLEAR STREET LLC Filed SCHEDULE 13G/A on Ernexa Therapeutics Inc., latest May 20, 2026 (2 filings since May 14, 2026)
  • Freebird Partners LP Filed SCHEDULE 13G/A on Ernexa Therapeutics Inc., latest May 15, 2026 (7 filings since Dec 2, 2022)
  • John D. Halpern Filed SCHEDULE 13G/A on Ernexa Therapeutics Inc., latest May 15, 2026 (6 filings since Dec 5, 2022)
  • Bleichroeder LP Filed SCHEDULE 13G on Ernexa Therapeutics Inc., latest May 14, 2026
  • Shameek Konar Filed SCHEDULE 13G/A on Ernexa Therapeutics Inc., latest May 13, 2026 (3 filings since May 15, 2025)
  • Charles Cherington Filed SCHEDULE 13D/A on Ernexa Therapeutics Inc., latest Feb 17, 2026 (8 filings since Mar 16, 2022)
  • IAF, LLC Filed SCHEDULE 13G/A on Ernexa Therapeutics Inc., latest Aug 18, 2025 (4 filings since Dec 20, 2023)
  • Nicholas Jason Singer Filed SCHEDULE 13G/A on Ernexa Therapeutics Inc., latest Feb 14, 2025 (6 filings since Feb 16, 2022)
  • Purchase Capital LLC Filed SC 13G on Ernexa Therapeutics Inc., latest Aug 28, 2023
  • George P. Denny Iii. Filed SC 13G/A on Ernexa Therapeutics Inc., latest Mar 6, 2023
  • Ernexa Therapeutics Inc. Cambridge, Massachusetts

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Ernexa Therapeutics Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Leasehold improvements$100.0K5 Dec 31, 2025$610.0K14 Dec 31, 2012−83.6%
Property and equipment, before depreciation$291.0K5 Dec 31, 2025$257.0K5 Dec 31, 2024+13.2%
Accumulated depreciation$197.0K5 Dec 31, 2025$172.0K5 Dec 31, 2024+14.5%
Property and equipment, net$94.0K5 Dec 31, 2025$85.0K5 Dec 31, 2024+10.6%
Operating-lease assets (leased space)$453.0K5 Dec 31, 2025$670.0K5 Dec 31, 2024−32.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.7M8 Dec 31, 2024$7.6M8 Dec 31, 2023−77.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.0M5 Dec 31, 2025$2.0M5 Dec 31, 20240%

Properties, in its own words

We currently lease approximately 4,000 square feet of office and laboratory space in New York and Massachusetts. The term of our Manhattan lease was to expire in January 2027, but we entered into a lease termination agreement with the landlord, effective March 13, 2026. See Note 18 to the consolidated financial statement for more information regarding the lease termination agreement. The term of our Massachusetts lease expires in June 2028. We believe that our leased property is generally well maintained, in good operating condition and meets our current business needs.

Item 2 of the 10-K filed Mar 13, 2026.4

Leadership

Who has led Ernexa Therapeutics Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Dario Loreto Santana2006–2007
  2. Terry Allan Bateman2009–2010
  3. Michael J. Bush2010–2012
  4. Allen Wolff2019–2021
  5. Howard J. Federoff2022
  6. Matthew Angel2022–2023
  7. Sanjeev Luther2024–now

President

  1. Dario Loreto Santana2006–2007
  2. Victor Tyrone Lam2007
  3. Howard J. Federoff2022
  4. Matthew Angel2022–2023
  5. Sanjeev Luther2024–now

Chief financial officer

  1. Kendra Berger2006–2012
  2. Allen Wolff2014–2019
  3. Andrew C. Jackson2022
2010201520202025
Board members and other officers (58)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorJames Bristol named Dec 20, 2023 to Apr 11, 202581
  • DirectorRichard W. Wagner named Jul 26, 202382
  • DirectorNicholas J. Singer named Dec 16, 202283
  • DirectorErin S. Enright named Mar 23, 202284

Former names

  • Eterna Therapeutics Inc.Oct 24, 2022 to Apr 4, 20253
  • Brooklyn ImmunoTherapeutics, Inc.Mar 26, 2021 to Oct 14, 20223
  • NTN BUZZTIME INCSep 1, 2005 to Mar 23, 20213
  • NTN COMMUNICATIONS INCFeb 14, 1994 to Dec 20, 20053

Timeline

  1. Oct 15, 20268-K Regulation FD disclosure85
  2. Sep 16, 20268-K Executive or director change86
  3. Sep 16, 20268-K Regulation FD disclosure87
  4. Jul 2, 20268-K Shareholder vote88
  5. Jul 2, 20268-K Regulation FD disclosure89
  6. Jun 26, 20268-K Executive or director change90
  7. May 4, 20268-K Bylaws or fiscal year changed91
  8. Mar 20, 20268-K Listing notice or transfer92
  9. Feb 26, 20268-K Regulation FD disclosure93
  10. Feb 11, 20268-K Entered a material agreement; Other events94
  11. Dec 11, 20258-K Regulation FD disclosure95
  12. Jul 7, 20258-K Change of auditor96
  13. Jan 3, 2024New chief executive Sanjeev Luther becomes CEO15
  14. Jun 1, 2022New chief executive Matthew Angel becomes CEO17
  15. Mar 15, 2022New chief executive Howard J. Federoff becomes CEO16
  16. Sep 24, 2019New chief executive Allen Wolff becomes CEO18
  17. Apr 22, 2010New chief executive Michael J. Bush becomes CEO19
  18. Feb 3, 2009New chief executive Terry Allan Bateman becomes CEO20
  19. Jul 12, 2006New chief executive Dario Loreto Santana becomes CEO21

Calendar

Coming up

  1. Nov 6, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($3.75) a share, on Nov 7, 2025.97

When it reported results

  1. Mar 20, 2023Reported quarterly or annual results98
  2. Apr 15, 2022Reported quarterly or annual results99

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

324 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 81 major events, 80 insider forms, 39 large holders, 8 private raises, 94 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Sep 22, 20263 EDGAR
  3. Sep 16, 20268-K EDGAR
  4. Sep 16, 20268-K EDGAR
  5. Sep 1, 20264 EDGAR
  6. Sep 1, 20264 EDGAR
  7. Sep 1, 20264 EDGAR
  8. Sep 1, 20264 EDGAR
  9. Sep 1, 20264 EDGAR
  10. Sep 1, 20264 EDGAR
  11. Aug 27, 20263 EDGAR
  12. Aug 6, 202610-Q EDGAR
  13. Jul 2, 20268-K EDGAR
  14. Jul 2, 20268-K EDGAR
  15. Jun 26, 20268-K EDGAR
  16. May 20, 2026SCHEDULE 13G/A EDGAR
  17. May 15, 2026SCHEDULE 13G/A EDGAR
  18. May 15, 2026SCHEDULE 13G/A EDGAR
  19. May 14, 2026SCHEDULE 13G EDGAR
  20. May 14, 2026SCHEDULE 13G EDGAR

The 324 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

8 open-market trades by officers, directors and large owners since October 2021: 8 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Feb 10, 2026Cherington Charles10% ownerBuy4,000,000$0.50$2.0MForm 4
Jun 9, 2025Cherington Charles10% ownerBuy21,241,163$0.10$2.1MForm 4
Apr 2, 2025Cherington Charles10% ownerBuy3,768,397$0.10$376.8KForm 4
Oct 29, 2024Cherington Charles10% ownerBuy13,252,112Form 4
Sep 24, 2024Cherington Charles10% ownerBuy13,252,112Form 4
Dec 2, 2022Cherington Charles10% ownerBuy261,756$3.28$858.6KForm 4
Dec 2, 2022Singer Nicholas JasonDirectorBuy283,286$3.28$929.2KForm 4
Dec 2, 2022HALPERN JOHN D10% ownerBuy335,920$3.28$1.1MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Sanjeev Luther,64$550.0K$888.8K110
2025Sandra Gurrola,59$275.0K$329.4K110
2024President and Chief Executive Officer$550.0K$3.1M110
2024Sr. VicePresident of Finance$275.0K$396.2K110

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 31, 2025Raised $7.2 million in a private offering of equity Form D: 15 investors so far Form D
  2. Sep 24, 2024Raised $1.1 million in a private offering of equity Form D: 5 investors so far Form D
  3. Sep 24, 2024Raised $3.9 million in a private offering of debt Form D: 11 investors so far Form D
  4. Dec 15, 2023Raised $7.8 million in a private offering of securities Form D: $9.2 million offered in all Form D
  5. Jul 14, 2023Raised $8.7 million in a private offering of securities Form D: 19 investors so far Form D
  6. Jul 14, 2023Raised $8.7 million in a private offering of securities Form D: 19 investors so far Form D
  7. Dec 2, 2022Raised $7.7 million in a private offering of equity Form D: 20 investors so far Form D
  8. Mar 9, 2022Raised $12 million in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Citadel Advisors LLC15,104$100.4K0.0%New
Vanguard Fiduciary Trust Co8,336$55.4K0.0%New
Dauntless Investment Group, LLC6,000$39.9K0.1%New
Vanguard Capital Management LLC5,684$37.8K0.0%New
Tradewinds Capital Management, LLC361$2.4K0.0%New
BlackRock, Inc.33$2190.0%New
Assetmark, Inc5$330.0%New
Bnp Paribas Financial Markets1$70.0%New
SBI Securities Co., Ltd.1$70.0%New
Steward Partners Investment Advisory, LLC0$10.0%New
Activest Wealth Management0$00.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Ernexa Therapeutics Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARErnexa Therapeutics Inc.1
  • CIK0000748592
  • Employer ID (EIN)31-11034254
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address1035 Cambridge Street, Suite 18A, Cambridge, MA 021411
  • Mailing address10531 4S Commons Drive, Suite 166-550, San Diego, CA 921271
  • Phone(617) 798-67001
  • Shares outstanding1,632,411 as of Aug 6, 202612
  • Public float$17.5M as of Jun 30, 20254
  • AuditorHASKELL & WHITE LLP, Irvine, California PCAOB ID 200; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceFeb 14, 19941
  • Filings1,522 in all: 4 (469), 8-K (343), 10-Q (94), 3 (78), SC 13D/A (52), SC 13G/A (33), DEF 14A (32), 10-K (30)1
    All 56 form types

    CORRESP (30), UPLOAD (24), 424B3 (23), S-3 (23), SC 13G (23), 4/A (20), DEFA14A (19), EFFECT (18), S-3/A (18), 10-Q/A (15), 10-K/A (14), SCHEDULE 13G/A (14), PRE 14A (13), S-8 (13), SC 13D (13), 424B5 (10), 425 (10), D (10), 8-K/A (8), REGDEX (7), ARS (6), NT 10-K (6), S-1 (6), 5 (4), 8-A12B (4), SCHEDULE 13D/A (4), SEC STAFF LETTER (4), DEFR14A (3), NT 10-Q (3), S-1/A (3), S-4/A (3), SCHEDULE 13G (3), CERT (2), 10-K405 (1), 15-12G (1), 25 (1), 3/A (1), 8-A12B/A (1), DEF 14C (1), DEFS14A (1), DRS (1), DRSLTR (1), NT 10-K/A (1), POS AM (1), PRE 14C (1), PRES14A (1), RW (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Mar 13, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) May 11, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.005 par valueERNANasdaq
Common Stock Purchase WarrantsERNAWNasdaq

From the cover page of the 10-K filed Mar 13, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

Legal proceedings

For a description of our legal proceedings, refer to Note 13 to the consolidated financial statements, which is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.4

Sources

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