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Mar 31, 2020
Abeona Therapeutics Q1 2020 Earnings Report
Abeona Therapeutics announced first quarter 2020 financial results.
Key Takeaways
Abeona Therapeutics reported first quarter 2020 financial results, highlighting progress in clinical programs and measures taken to mitigate the impact of the COVID-19 pandemic. The company's cash, cash equivalents, and marketable securities totaled $116 million as of March 31, 2020. The net loss was $0.52 per share.
First patient treated in ongoing pivotal Phase 3 VIITALTM study evaluating EB-101 for RDEB.
Additional patients dosed in the Phase 1/2 gene therapy studies for MPS IIIA and MPS IIIB.
Positive interim data from MPS III gene therapy programs presented at WORLDSymposium™; updated results to be presented at ASGCT 2020.
Appointed two industry leaders to Board of Directors and strengthened management team.
Abeona Therapeutics
Abeona Therapeutics
Forward Guidance
The company has implemented measures to maintain continuity of its operations and to preserve financial flexibility for the future.
Challenges Ahead
- The ongoing COVID-19 pandemic has caused meaningful disruptions to the global healthcare system, including the conduct of clinical trials as healthcare institutions shift their focus and resources to treating COVID-19 patients.