Abeona Therapeutics Q2 2022 Earnings Report

Abeona Therapeutics reported financial results for the second quarter of 2022 and focused resources on EB-101 after the disposition of MPS programs.

Key Takeaways

Abeona Therapeutics reported a net loss of $12.1 million for Q2 2022, with license and other revenues of $1.0 million. The company's cash runway has been extended into Q2 2023 following Ultragenyx assuming financial responsibility for ABO-102 development.

Cash, cash equivalents, restricted cash and short-term investments totaled $26.0 million as of June 30, 2022.

Net cash used in operating activities was $9.0 million for the second quarter of 2022.

License and other revenues in the second quarter of 2022 were $1.0 million, compared to nil in the second quarter of 2021.

Net loss attributable to common shareholders for the second quarter of 2022 was $12.1 million, or $2.08 loss per common share as compared to $15.2 million, or $3.93 loss per common share, in the second quarter of 2021.

Previous year: $77.6M