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Posted 10 August, 2023

Eterna Therapeutics Inc. appointed new CEO

CEO Change detected for ticker Nasdaq:ERNA in a 8-K filed on 10 August, 2023.


  On August 4, 2023, Dr. Matthew Angel resigned from the Board and as the Company's President and Chief Executive Officer, and a copy of Dr. Angel's resignation letter (the "Angel Letter") is filed as Exhibit 17.1 to this Current Report on Form 8-K and incorporated by reference in this Item 5.02.  

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Overview of Eterna Therapeutics Inc.
Health Care/Life Sciences • Biotechnology
Eterna Therapeutics, Inc. engages in the provision of cell engineering therapies. It is involved in the development of mRNA cell engineering technologies to repair cellular dysfunction and treat a range of therapeutic indications. The company was founded in 1984 and is headquartered in Cambridge, MA.
Market Cap
$10.5M
View Company Details
Eterna Therapeutics Inc. by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On August 4, 2023, Dr. Matthew Angel resigned from the Board and as the Company's President and Chief Executive Officer, and a copy of Dr. Angel's resignation letter (the "Angel Letter") is filed as Exhibit 17.1 to this Current Report on Form 8-K and incorporated by reference in this Item 5.02. As set forth in the Angel Letter, Dr. Angel indicated that he resigned due to actions taken by the Board that Dr. Angel deemed to "segregate [the Company's CEO] from the process of negotiating or influencing, on behalf of the Company […] the outreach, evaluation, development and preliminary negotiations of all potential business development opportunities", as well as to establish a Transaction Committee consisting of three independent Board members to "directly conduct: […] the outreach, evaluation, development and preliminary negotiations of all potential business development activities", which committee Dr. Angel considered to have "assumed primary responsibility for negotiating key material agreements on behalf of the Company", which in Dr. Angel's view, would have affected the independence of such Board members. Subsequently, following discussions with certain members of the Board and management, Dr. Angel indicated to the Company on August 8, 2023 that he would rescind his resignation.


On August 8, 2023, Mr. Brant C. Binder and Dr. Richard W. Wagner resigned from the Board, including from the audit and compensation committees thereof, of which they were two of three members, as well as from the Transaction Committee referenced in the Angel Letter. The Board is currently composed of Mr. William Wexler and Dr. Gregory Fiore.


At a meeting of the Board on August 9, 2023, the Board reappointed Dr. Angel as the Company's President and Chief Executive Officer (principal executive officer) on the same terms on which Dr. Angel served immediately prior to his resignation. All of such terms, together with the information required by Items 401(b), (d), (e) and 404(a) of Regulation S-K, have been previously reported by the Company in its Definitive Proxy Statement on Schedule 14A and in its Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on May 5, 2023 and July 13, 2023, respectively.


Exhibit

Number


Description


17.1

Dr. Angel Resignation Letter


104

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