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Sep 30, 2022
Abeona Therapeutics Q3 2022 Earnings Report
Announced third quarter 2022 financial results following positive topline data from Phase 3 VIITAL™ study of EB-101 with both co-primary endpoints met and plans to submit BLA to U.S. FDA in 2Q 2023.
Key Takeaways
Abeona Therapeutics reported positive topline data from the Phase 3 VIITAL study and is focused on submitting a Biologics License Application for EB-101 to the U.S. FDA. The company is well-funded into the third quarter of 2024.
Positive topline data from the Phase 3 VIITAL study provides strong support for EB-101’s potential.
Company is sharply focused on submitting a Biologics License Application for EB-101 to the U.S. FDA.
Additional capital raised after quarter-end ensures funding into the third quarter of 2024.
Net cash used in operating activities was $6.8 million for the third quarter of 2022.
Forward Guidance
Abeona estimates that its current cash and cash equivalents, restricted cash and short-term investments plus the net proceeds from the private placement financing on November 3, 2022 are sufficient resources to fund operations into the third quarter of 2024.
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