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Mar 31, 2022
Abeona Therapeutics Q1 2022 Earnings Report
Abeona Therapeutics reported financial results for the first quarter of 2022 and took steps to preserve capital by off-loading MPS assets and focusing R&D resources on EB-101.
Key Takeaways
Abeona Therapeutics reported a net loss of $20.8 million for Q1 2022, with license and other revenues of $0.3 million. The company is focusing on its EB-101 pivotal Phase 3 VIITAL™ study and has initiated steps toward regaining compliance with Nasdaq listing requirements.
Began off-loading MPS assets to reduce cash burn.
Completed accrual for the EB-101 pivotal Phase 3 VIITAL™ study and focusing R&D resources on generating topline results in Q3 2022.
Actively exploring partnerships for commercialization of EB-101.
Initiated steps toward regaining compliance with Nasdaq listing requirements.
Abeona Therapeutics
Abeona Therapeutics
Forward Guidance
Abeona Therapeutics is focused on funding operations over the next 12 months with existing cash resources, reducing cash burn by off-loading MPS assets, generating topline results for the EB-101 pivotal Phase 3 VIITAL™ study in Q3 2022, and exploring partnerships for commercialization of EB-101.
Positive Outlook
- Preserving capital to fund operations over the next 12 months.
- Reducing cash burn by off-loading MPS assets.
- Focusing R&D resources on EB-101 pivotal Phase 3 VIITAL™ study.
- Generating topline results for EB-101 in Q3 2022.
- Exploring partnerships for commercialization of EB-101.
Challenges Ahead
- Potential impacts of the COVID-19 pandemic on our business, operations, and financial condition.
- Risks associated with data analysis and reporting.
- The impact of competition.
- The ability to secure licenses for any technology that may be necessary to potentially commercialize our product candidates.
- The impact of changes in the financial markets and global economic conditions.