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Mar 31, 2024
Abeona Therapeutics Q1 2024 Earnings Report
Abeona Therapeutics reported financial results for the first quarter of 2024 and recent corporate progress.
Key Takeaways
Abeona Therapeutics reported a net loss of $31.6 million for Q1 2024. They closed a $75 million underwritten offering in May, extending the expected cash runway into 2026.
BLA resubmission is anticipated in the second half of 2024.
Closed $75 million underwritten offering in May, extending expected cash runway into 2026.
Cash, cash equivalents, restricted cash and short-term investments totaled $62.7 million as of March 31, 2024.
Net loss was $31.6 million for the first quarter of 2024, or $1.16 loss per common share.
Abeona Therapeutics
Abeona Therapeutics
Forward Guidance
Abeona estimates that its current cash and cash equivalents, restricted cash and short-term investments, as well as the credit facility, combined with the net proceeds from the underwritten securities offering, are sufficient resources to fund operations into 2026, before accounting for any potential revenue from commercial sales of pz-cel, if approved, or proceeds from the sale of a Priority Review Voucher or PRV, if awarded by the FDA.