SCHEDULE 13G/A 0001955231 XXXXXXXX LIVE 5 Common Stock, par value $0.005 per share 12/19/2025 0000748592 Ernexa Therapeutics Inc. 114082308 1035 Cambridge Street Suite 18A Cambridge MA 02141 Rule 13d-1(c) Freebird Partners LP b TX 0 786040 0 786040 786040 N 9.9 PN Freebird Investments LLC, a Texas limited liability company ("Freebird Investments"), serves as the general partner of Freebird Partners, a Texas limited partnership ("Freebird Partners"). Curtis W. Huff is the sole member of Freebird Investments. By virtue of these relationships, each of Freebird Investments and Mr. Huff may be deemed to share beneficial ownership of the securities held of record by Freebird Partners. Share counts in Rows 6, 8 and 9 include (i) 735,415 shares of common stock, par value $0.005 per share (the "Common Stock"), of Ernexa Therapeutics Inc. (formerly Eterna Therapeutics, Inc.), a Delaware corporation (the "Issuer") held by Freebird Partners; and (ii) 50,625 shares of Common Stock of the Issuer (the "Warrant Shares"), issuable upon exercise of Pre-Funded Common Stock Purchase Warrants (collectively, the "Warrants") issued by the Issuer in favor of Freebird Partners which may be exercised at any time, at a nominal exercise price of $0.005 per Warrant Share. Pursuant to the terms of the Warrants, the Reporting Person cannot exercise either Warrant for Warrant Shares to the extent the Reporting Person would beneficially own, after any such conversion or exercise, more than 9.99% of the outstanding shares of Common Stock (the "Blocker"). The table excludes 324,759 shares of Common Stock issuable upon exercise of the Warrants because of the Blocker on each Warrant. Percentage of ownership in Row 11 is based on an aggregate of 7,899,514 shares of Common Stock outstanding, consisting of (1) 7,848,889 shares of Common Stock outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 7, 2025 and (2) 50,625 Warrant Shares issuable upon exercise of the Warrants. The purpose of this Amendment No. 5 to Schedule 13G (the "Amendment") filed by the Reporting Persons with the Securities and Exchange Commission on December 2, 2022, as amended and supplemented to date, is solely to update the Reporting Persons' beneficial ownership information on the cover pages and in Item 4 to reflect the Issuer's 1-for-15 reverse stock split of its outstanding shares of Common Stock that was effected on June 10, 2025, as well as to update Item 2(e) in respect of such reverse stock split. Freebird Investments LLC b TX 0 786040 0 786040 786040 N 9.9 OO As noted above, Freebird Investments serves as the general partner of Freebird Partners and, as a result, may be deemed to share beneficial ownership of the securities held of record by Freebird Partners. Share counts in Rows 6, 8 and 9 include (i) 735,415 shares of Common Stock of the Issuer held by Freebird Partners; and (ii) 50,625 Warrant Shares issuable upon exercise of the Warrants which may be exercised at any time, at a nominal exercise price of $0.005 per Warrant Share. As noted above, the Warrants each have a Blocker and the table excludes 324,759 shares of Common Stock issuable upon exercise of the Warrants because of the Blocker on each Warrant. Percentage of ownership in Row 11 is based on an aggregate of 7,899,514 shares of Common Stock outstanding, consisting of (1) 7,848,889 shares of Common Stock outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 7, 2025 and (2) 50,625 Warrant Shares issuable upon exercise of the Warrants. Curtis Huff b X1 0 786040 0 786040 786040 N 9.9 IN As noted above, Curtis W. Huff is the sole member of Freebird Investments, which is the general partner of Freebird Partners, and, as a result, he may be deemed to share beneficial ownership of the securities held of record by Freebird Partners. Share counts in Rows 6, 8 and 9 include (i) 735,415 shares of Common Stock of the Issuer held by Freebird Partners; and (ii) 50,625 Warrant Shares issuable upon exercise of the Warrants which may be exercised at any time, at a nominal exercise price of $0.005 per Warrant Share. As noted above, the Warrants each have a Blocker and the table excludes 324,759 shares of Common Stock issuable upon exercise of the Warrants because of the Blocker on each Warrant. Percentage of ownership in Row 11 is based on an aggregate of 7,899,514 shares of Common Stock outstanding, consisting of (1) 7,848,889 shares of Common Stock outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 7, 2025 and (2) 50,625 Warrant Shares issuable upon exercise of the Warrants. Ernexa Therapeutics Inc. 1035 Cambridge Street, Suite 18A, Cambridge, MA 02141 This statement is filed by the following entities and individuals (collectively, referred to as the "Reporting Persons"): *Freebird Partners LP, a Texas limited partnership; *Freebird Investments LLC, a Texas limited liability company; *Curtis W. Huff, an individual and a citizen of the United States of America. Freebird Investments LLC is the general partner of Freebird Partners LP, and as a result, may be deemed to share voting and dispositive power with respect to the securities held by Freebird Partners LP. Curtis Huff is the sole member of Freebird Investments LLC, which is the general partner of Freebird Partners LP, and as a result, may be deemed to share voting and dispositive power with respect to the securities held by Freebird Partners LP. Freebird Partners LP, Freebird Investments LLC, and Mr. Huff have entered into a Joint Filing Agreement, a copy of which was filed with the Schedule 13G on December 2, 2022 as Exhibit 99.1, which is hereby incorporated by reference, pursuant to which they have agreed to file this Amendment No. 5 jointly in accordance with the provisions of Rule 13d-1(k) of the Act. The address of the principal business office for each of the Reporting Person is: 2800 Post Oak Blvd, Suite 2000 Houston, Texas 77056 See Row 4 of each Reporting Person's cover page to this Schedule 13G. Y See Row 9 of each Reporting Person's cover page to this Schedule 13G. See Row 11 of each Reporting Person's cover page to this Schedule 13G. See Row 5 of each Reporting Person's cover page to this Schedule 13G. See Row 6 of each Reporting Person's cover page to this Schedule 13G. See Row 7 of each Reporting Person's cover page to this Schedule 13G. See Row 8 of each Reporting Person's cover page to this Schedule 13G. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Freebird Partners LP /s/ Curtis Huff 12/19/2025 Freebird Investments LLC /s/ Curtis Huff 12/19/2025 Curtis Huff /s/ Curtis Huff 12/19/2025