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ERNA

Ernexa Therapeutics Inc.

ERNA

Ernexa Therapeutics Inc. • NASDAQ
$1.35 ▼ -2.17% (-0.03)
Market Cap $10.60 M
52w High $14.40
52w Low $1.09
Dividend Yield 0%
P/E 0.02
Volume 14.18K
Outstanding Shares 7.85M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $1.993M ▼ $-1.24M ▲ 0% $-0.15 ▲ $-1.186M ▲
Q2-2025 $0 $2.501M ▼ $-3.139M ▲ 0% $-0.61 ▼ $-2.446M ▲
Q1-2025 $0 ▼ $2.73M ▲ $-8.202M ▼ 0% ▲ $-0.15 ▲ $-2.661M ▼
Q4-2024 $1K ▼ $2.698M ▼ $-5.759M ▲ -575.9K% ▼ $-0.42 ▲ $-2.197M ▲
Q3-2024 $487K $2.806M $-26.604M -5.463K% $-4.92 $-24.455M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.047M ▼ $6.172M ▼ $2.602M ▼ $3.57M ▼
Q2-2025 $4.315M ▲ $7.584M ▲ $3.14M ▼ $4.444M ▲
Q1-2025 $1.918M ▲ $5.059M ▼ $11.009M ▲ $-5.95M ▼
Q4-2024 $1.729M ▼ $5.269M ▼ $3.568M ▼ $1.701M ▲
Q3-2024 $4.264M $7.718M $53.111M $-45.393M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.24M ▲ $-1.272M ▲ $-22K ▼ $26K ▼ $-1.268M ▼ $-1.294M ▲
Q2-2025 $-3.139M ▲ $-2.532M ▼ $0 $4.929M ▲ $2.397M ▲ $-2.532M ▼
Q1-2025 $-8.202M ▼ $-2.065M ▲ $0 $2.254M ▲ $189K ▲ $-2.065M ▲
Q4-2024 $-5.759M ▲ $-3.545M ▲ $0 ▲ $1.01M ▼ $-2.535M ▼ $-3.545M ▲
Q3-2024 $-26.604M $-6.285M $-19K $3.887M $1.678M $-6.304M

Five-Year Company Overview

Income Statement

Income Statement Ernexa’s income statement looks like a classic preclinical biotech profile: no product revenue at all and a steady stream of research and operating costs. Losses have been consistent over the past several years, even though the absolute dollar amounts are relatively small. The swings in earnings per share mostly reflect changes in the share count and reverse splits rather than changes in the underlying business. Overall, the company is still firmly in the “spending to build” phase with no commercial income to offset costs.

Balance Sheet

Balance Sheet The balance sheet is very thin. Total assets and cash are small, equity is modest, and there has been some use of debt in the recent past. This leaves the company financially fragile and highly dependent on external funding to continue operations. The repeated reverse stock splits also signal a long history of dilution and efforts to maintain listing standards. Taken together, the balance sheet underlines the going‑concern risk already highlighted by management.

Cash Flow

Cash Flow Cash flow is straightforward: money consistently flows out of the business to fund research and operations, with no offsetting inflows from products or services. Operating and free cash flow have been steadily negative, while capital spending is minimal, which is typical for an asset‑light, lab‑focused biotech. The company’s ability to keep going depends on raising fresh capital or securing partnerships, since internal cash generation is not expected for quite some time.

Competitive Edge

Competitive Edge Competitively, Ernexa occupies a small but potentially distinctive niche within cell therapy. Its focus on engineered iMSCs as “off‑the‑shelf” delivery vehicles for cytokines sets it apart from the more crowded CAR‑T and traditional biologics space. The company’s collaboration with a major cancer center and a specialist manufacturer adds credibility and support it could not easily replicate in‑house. However, Ernexa is tiny compared with large oncology and autoimmune players, faces intense scientific and commercial competition, and has not yet tested its products in humans, which limits its current market position to an early, experimental stage.

Innovation and R&D

Innovation and R&D R&D is the heart of Ernexa. The iPSC‑to‑iMSC platform, the “Trojan horse” concept, and the dual focus on solid tumors and autoimmune disease represent a bold, differentiated scientific strategy. The lead programs, one aimed at turning “cold” tumors “hot” and another targeting local immune suppression in autoimmune disease, showcase the platform’s flexibility. Early preclinical results and reputable partners suggest scientific promise. At the same time, everything is still preclinical, so there is substantial uncertainty around safety, efficacy, manufacturability, and regulatory acceptance once the programs move toward clinical trials.

Summary

Ernexa is a very early‑stage, science‑driven biotech with no revenue, recurring losses, and a very lean balance sheet, which together create clear financial vulnerability and reliance on external funding. The company’s value proposition rests on a differentiated cell‑therapy platform, promising preclinical data, and strong academic and manufacturing partnerships. The opportunity lies in proving this novel approach in human trials and expanding the platform to more diseases. The main risks are scientific failure, regulatory setbacks, and funding constraints before any commercial proof point is reached.

NEWS

November 11, 2025 · 7:00 AM UTC

Ernexa Therapeutics to Present at Oxford Global's Cell 2025

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November 10, 2025 · 8:35 AM UTC

Ernexa Therapeutics Reports Strong Quarterly Performance, Highlighting Operational Execution and Progress Toward First-in-Human Cell Therapy Trials

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November 6, 2025 · 9:15 AM UTC

Ernexa Therapeutics Showcases Strategic Partnership with Cellipont Bioservices to Advance Toward First-in-Human Trials on Virtual Investor “What This Means” Platform

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October 29, 2025 · 8:33 AM UTC

Cellipont Bioservices and Ernexa Therapeutics Enter Cell Therapy Manufacturing Partnership to Advance ERNA-101 Toward Clinical Trials in Ovarian Cancer

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October 1, 2025 · 8:30 AM UTC

Ernexa Therapeutics to Deliver Company Presentation at the Annual Cell & Gene Meeting on the Mesa

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