Eterna Therapeutics Completes Strategic Financial Restructuring, Reducing Its Liability By Discontinuing A Longstanding Lease, Resulting In An Estimated $72M In Savings And A Reduction Of ~$700,000 In Monthly Cash Outflow
Portfolio Pulse from Benzinga Newsdesk
Eterna Therapeutics has completed a strategic financial restructuring, reducing liabilities by discontinuing a lease, saving $72M, and cutting $700,000 in monthly cash outflow. The company also secured $5M in new financing through a PIPE investment.
October 30, 2024 | 12:41 pm
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Eterna Therapeutics has successfully restructured its finances, reducing liabilities by ending a lease, saving $72M, and cutting $700K in monthly cash outflow. The company also raised $5M through a PIPE investment.
The financial restructuring significantly reduces Eterna's liabilities and monthly cash outflow, which is positive for the company's financial health. The $5M PIPE investment provides additional capital for growth, likely boosting investor confidence and potentially leading to a short-term stock price increase.
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