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Jun 30, 2023
Abeona Therapeutics Q2 2023 Earnings Report
Abeona Therapeutics reported financial results for the second quarter of 2023 and provided an update on progress toward achieving key corporate objectives.
Key Takeaways
Abeona Therapeutics reported license and other revenues of $3.5 million for Q2 2023, compared to $1.0 million in Q2 2022. The company's cash and investments totaled $37.1 million as of June 30, 2023, which, combined with proceeds from a $25 million direct offering, is expected to fund operations into Q4 2024. The company is on track for BLA submission in Q3 2023.
On track for Biologics License Application (BLA) submission in third quarter of 2023
Proceeds from $25 million registered direct offering in July allow initiation of pre-commercial launch activities for EB-101
Cash on hand plus proceeds from registered direct offering projected to fund operations into the fourth quarter of 2024
Strengthened balance sheet, preparing for commercialization of EB-101 in the U.S.
Forward Guidance
Abeona estimates that its cash and cash equivalents, restricted cash and short-term investments as of June 30, 2023, in addition to the proceeds from the $25 million registered direct offering in July 2023, are sufficient resources to fund operations into the fourth quarter of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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