Eterna Therapeutics Faces Nasdaq Delisting Warning

TL;DR

Nasdaq's kicking Eterna out unless they fix things FAST.

AI Summary

Eterna Therapeutics Inc. received a notice on March 19, 2024, indicating it failed to meet the continued listing standards of the Nasdaq Capital Market. The company is currently evaluating its options to regain compliance and avoid delisting.

Why It Matters

This filing signals potential financial distress or operational challenges for Eterna Therapeutics, which could significantly impact its stock value and investor confidence.

Risk Assessment

Risk Level: high — Receiving a delisting notice from a major exchange like Nasdaq indicates significant non-compliance with listing requirements, posing a substantial risk to the company's viability and stock.

Key Players & Entities

• Eterna Therapeutics Inc. (company) — The company filing the 8-K and receiving the delisting notice.
• Nasdaq Capital Market (company) — The stock exchange from which Eterna Therapeutics is at risk of being delisted.
• March 19, 2024 (date) — The date Eterna Therapeutics received the notice of non-compliance.

FAQ

Key Financial Figures

• $0.005 — ich registered Common Stock, par value $0.005 per share ERNA The Nasdaq Stock Mar
• $2.5 million — orted stockholders' equity of less than $2.5 million as of December 31, 2024. The Company's
• $2.2 million — The Company's stockholders' equity was $2.2 million as of December 31, 2024. The Company m

Filing Documents

• ef20024913_8k.htm (8-K) — 25KB
• 0001140361-24-014809.txt ( ) — 158KB
• erna-20240319.xsd (EX-101.SCH) — 4KB
• erna-20240319_lab.xml (EX-101.LAB) — 21KB
• erna-20240319_pre.xml (EX-101.PRE) — 16KB
• ef20024913_8k_htm.xml (XML) — 4KB

01

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 19, 2024, Eterna Therapeutics Inc. (the "Company") received a notice (the "Notice") from the Listing Qualifications Staff ("Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company is not in compliance with Nasdaq Listing Rule 5550(b)(1) because the Company reported stockholders' equity of less than $2.5 million as of December 31, 2024. The Company's stockholders' equity was $2.2 million as of December 31, 2024. The Company must submit a plan to the Staff no later than May 3, 2024 advising of actions it has taken or will take to regain compliance with Nasdaq Listing Rule 5550(b)(1). If the Staff determines to accept the plan, the Staff can grant the Company an extension of up to 180 calendar days from the date of the Notice to regain compliance. If the Staff does not approve the plan, the Company may appeal that decision to a Nasdaq hearings panel. The Company's management is reviewing its options to address the noncompliance and expects to submit a plan on or before the May 3, 2024 deadline. The Notice has no immediate effect on the Company's Nasdaq listing, and its common stock will continue to be listed under the symbol "ERNA." However, if the Company fails to timely regain compliance with the Nasdaq Listing Rule 5550(b)(1) , then the common stock will be subject to delisting from Nasdaq. -2- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Eterna Therapeutics Inc. Dated: March 22, 2024 By: /s/ Sanjeev Luther Sanjeev Luther President and Chief Executive Officer -3-

View Full Filing

View this 8-K filing on SEC EDGAR