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Mar 31, 2023
Abeona Therapeutics Q1 2023 Earnings Report
Abeona Therapeutics reported financial results for the first quarter of 2023 and provided an update on progress toward achieving key corporate objectives.
Key Takeaways
Abeona Therapeutics reported a net loss of $9.1 million for the first quarter of 2023, with license and other revenues at nil, research and development expenses at $8.0 million, and general and administrative expenses at $4.0 million. Cash, cash equivalents, restricted cash and short-term investments totaled $40.7 million as of March 31, 2023, sufficient to fund operations into the third quarter of 2024.
Focused on completing EB-101 Biologics License Application for recessive dystrophic epidermolysis bullosa (RDEB).
Made progress towards EB-101 BLA submission in late-2Q/early-3Q 2023; submitted request for pre-BLA meeting.
Presented encouraging results from animal proof-of-concept studies from its AAV ophthalmology program at the ASGCT annual meeting.
Reiterated cash runway guidance into 3Q 2024, beyond anticipated timing for EB-101 BLA potential approval.
Abeona Therapeutics
Abeona Therapeutics
Forward Guidance
Abeona estimates that its current cash and cash equivalents, restricted cash and short-term investments are sufficient resources to fund operations into the third quarter of 2024.