Ernexa Therapeutics Secures $6 Million in Second Closing Under Securities Purchase Agreement

Core Points - Ernexa Therapeutics has completed a second closing under a securities purchase agreement, raising total gross proceeds to $7.1 million to support working capital initiatives [1][3] - The company issued 3,181,145 shares of common stock and 622,134 prefunded warrants in the second closing, generating approximately $6.0 million in gross proceeds [2] - The initial closing occurred on April 2, 2025, where the company raised approximately $1.1 million by issuing 662,269 shares of common stock and 33,983 prefunded warrants [2] - The financing was approved by stockholders at the 2025 Annual Meeting held on June 2, 2025, as required by Nasdaq listing rules [3] Financial Details - The total gross proceeds from the financing amount to $7.1 million, which includes the initial and second closings [1] - A remaining subscription amount of $190,248 for 121,255 shares of common stock is still pending [2] Company Overview - Ernexa Therapeutics focuses on developing innovative cell therapies for advanced cancer and autoimmune diseases, utilizing induced pluripotent stem cells (iPSCs) [5] - The lead product, ERNA-101, aims to activate the immune system to target cancer cells, while ERNA-102 is designed to address inflammation in autoimmune diseases [6] - The company's initial focus is on developing ERNA-101 for ovarian cancer treatment [6] Warrant Details - The prefunded warrants have a nominal exercise price of $0.075 per share and are subject to ownership limitations of 4.99% or 9.99% of the company's outstanding common stock [4]