Ernexa Therapeutics Inc. Warrants

Ernexa Therapeutics Inc. Warrants (ERNA) reported a net loss of $14.1 million for fiscal year 2025, an improvement from a $44.5 million loss in 2024. The company generated $582K in revenue in 2024 but recognized no revenue in 2025 due to the assignment of its customer contract to Factor Bioscience. Operating expenses decreased to $9.3 million from $16.2 million, primarily due to reduced general and administrative costs, including a $5.0 million decrease in occupancy expense from lease termination. The company ended the year with $1.9 million in cash, $5.8 million in total assets, and an accumulated deficit of $245.6 million. Management states the company will not have sufficient capital to fund operations for the next 12 months without additional financing.

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