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Dec 31, 2019
Abeona Therapeutics Q4 2019 Earnings Report
Abeona Therapeutics reported its Q4 2019 financial results and business updates.
Key Takeaways
Abeona Therapeutics reported a net loss of $0.30 per share for the fourth quarter of 2019. The company's cash, cash equivalents, and marketable securities totaled $129.3 million as of December 31, 2019, driven primarily by a $103.5 million gross underwritten public offering.
Opened enrollment in the Phase 3 VIITALTM study evaluating EB-101 for RDEB and is on track to treat the first patient in Q1 2020.
Presented positive interim data from ABO-102 gene therapy program in MPS IIIA at WORLDSymposium™.
Presented positive interim data from ABO-101 gene therapy program in MPS IIIB at WORLDSymposium™.
Closed a $103.5 million underwritten public offering, strengthening the balance sheet.
Forward Guidance
Abeona is focused on advancing its clinical programs, including EB-101 for RDEB and ABO-102 and ABO-101 for MPS IIIA and MPS IIIB, respectively.
Positive Outlook
- On track to treat first RDEB patient in pivotal Phase 3 VIITALTM study of EB-101 in Q1 2020
- Positive interim data from MPS IIIA and MPS IIIB programs presented at WORLDSymposiumTM
- Completion of cohort 2 and first patient enrolled in cohort 3 of MPS IIIB study
- Issuance of U.S. Patents for AIM™ AAV capsids
- Closing of $103.5 million underwritten public offering
Historical Earnings Impact
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Avg. Return Before/After Earnings
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