Eterna Therapeutics Faces Delisting Concerns

TL;DR

Eterna Therapeutics might get delisted, stock could tank.

AI Summary

Eterna Therapeutics Inc. filed an 8-K on January 3, 2025, reporting a notice of delisting or failure to meet continued listing requirements as of December 30, 2024. The company was formerly known as Brooklyn ImmunoTherapeutics, Inc. until March 25, 2021.

Why It Matters

This filing indicates potential issues with Eterna Therapeutics' ability to remain listed on its exchange, which could significantly impact its stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's continued operation as a publicly traded entity.

Key Players & Entities

• Eterna Therapeutics Inc. (company) — Registrant
• Brooklyn ImmunoTherapeutics, Inc. (company) — Former company name
• December 30, 2024 (date) — Date of earliest event reported
• January 3, 2025 (date) — Date of report

FAQ

Key Financial Figures

• $0.005 — ch registered Common Stock, par value $0.005 per share ERNA The Nasdaq Stock Mar
• $1 — aintain a minimum bid price of at least $1 per share. Nasdaq Listing Rule 5810(c
• $1 b — any does not regain compliance with the $1 bid price requirement by June 30, 2025, t

Filing Documents

• form8-k.htm (8-K) — 34KB
• 0001493152-25-000246.txt ( ) — 206KB
• erna-20241230.xsd (EX-101.SCH) — 3KB
• erna-20241230_lab.xml (EX-101.LAB) — 33KB
• erna-20241230_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 30, 2024 Eterna Therapeutics Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 001-11460 31-1103425 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 1035 Cambridge Street , Suite 18A Cambridge , MA 02141 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (212) 582-1199 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol Name of each exchange on which registered Common Stock, par value $0.005 per share ERNA The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934: Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 30, 2024, Eterna Therapeutics Inc. (the "Company") received a notice (the "Notice") from the Listing Qualifications Staff ("Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price on the Company's common stock for the last 30 consecutive business days, the Company no longer meets Nasdaq Listing Rule 5550(a)(2), which requires listed companies to maintain a minimum bid price of at least $1 per share. Nasdaq Listing Rule 5810(c)(3)(A) provides a compliance period of 180 calendar days, or until June 30, 2025, in which to regain compliance with the minimum bid price requirement. If the Company's closing bid price is at least $1 per share for a minimum of 10 consecutive business days during the 180-day compliance period, Nasdaq will provide written confirmation that the Company has regained compliance. In the event the Company does not regain compliance with the $1 bid price requirement by June 30, 2025, the Company may be eligible for consideration of a second 180-day compliance period if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq's Capital Market, with the exception of the minimum bid price requirement. In addition, the Company would also be required to notify Nasdaq of its intent to cure the minimum bid price deficiency by effecting a reverse stock split, if necessary. If it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Staff will provide the Company will its notice that the Company's securities will be subject to delisting. 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." -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: January 3, 2025 By: /s/ Sanjeev Luther Sanjeev Luther President and Chief Executive Officer -3-

View Full Filing

View this 8-K filing on SEC EDGAR