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Sep 30, 2024
Abeona Therapeutics Q3 2024 Earnings Report
Abeona Therapeutics reported financial results for the third quarter ended September 30, 2024, and provided recent corporate updates.
Key Takeaways
Abeona Therapeutics reported a net loss of $30.3 million for the third quarter of 2024, which includes a $15.2 million loss resulting from the quarterly remeasurement of the fair value of warrant and derivative liabilities. The company's cash, cash equivalents, short-term investments, and restricted cash totaled $110.0 million as of September 30, 2024, and estimates it is sufficient to fund operations into 2026.
FDA accepted the BLA resubmission of pz-cel in recessive dystrophic epidermolysis bullosa and set a PDUFA target action date of April 29, 2025.
The company is making significant progress toward potential commercialization of pz-cel in 2025, building momentum with payor discussions and target treatment centers.
Cash, cash equivalents, short-term investments, and restricted cash totaled $110.0 million as of September 30, 2024.
Abeona estimates that its current resources are sufficient to fund operations into 2026.
Abeona Therapeutics
Abeona Therapeutics
Forward Guidance
Abeona estimates that its current cash and cash equivalents, short-term investments and restricted cash, as well as its credit facility, 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 (PRV), if awarded by the FDA.