Eterna Therapeutics Completes Strategic Financial Restructuring with the Aim to Accelerate its Developmental Activities and Long-Term Success

Core Insights - Eterna Therapeutics Inc. has successfully completed a comprehensive financial restructuring aimed at accelerating its developmental activities and long-term success [1][2] Financial Restructuring - The company has reduced its liabilities by discontinuing a longstanding lease, resulting in estimated savings of $72 million and a reduction of approximately $700,000 in monthly cash outflow [2] - With shareholder approval, Eterna has completed transactions that significantly reduced its balance sheet debt and secured a new round of $5 million in financing through a PIPE investment [2] Strategic Focus - The financial restructuring allows Eterna to execute its strategic mission to develop innovative off-the-shelf cellular therapies, both internally and in collaboration with academic partners, with greater financial agility [3] Product Development - Eterna is advancing its lead therapeutic candidate, ERNA-101, which is designed to deliver IL-7/IL-15 selectively to tumors, focusing initially on triple-negative breast cancer (TNBC) and platinum-resistant, TP53-mutant ovarian cancer [4] - The company aims to be well-positioned for IND-enabling studies and targets IND submissions by 2026 [4] Company Overview - Eterna Therapeutics is a publicly traded, preclinical-stage company focused on innovative cell therapies for advanced solid tumors, particularly TNBC and platinum-resistant, TP53-mutant ovarian cancer [5] - The lead product, ERNA-101, utilizes a best-in-class approach to engineer allogenic induced pluripotent stem cells (iPSCs) to express genes of interest and efficiently differentiate into mesenchymal stem cells [5]