Abeona Therapeutics Inc ( (ABEO) ) has released its Q4 earnings. Here is a breakdown of the information Abeona Therapeutics Inc presented to its investors.
Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company specializing in the development of cell and gene therapies for serious diseases, with a focus on prademagene zamikeracel (pz-cel) for recessive dystrophic epidermolysis bullosa (RDEB).
Abeona Therapeutics has reported its financial results for the full year of 2024, highlighting significant progress in the regulatory review of its pz-cel Biologics License Application (BLA) with the FDA. The company is preparing for a potential commercial launch in the U.S. in the third quarter of 2025, contingent on FDA approval.
Key financial metrics reveal that Abeona’s cash and cash equivalents, short-term investments, and restricted cash totaled $98.1 million as of December 31, 2024, up from $52.6 million the previous year. Research and development expenses increased to $34.4 million, driven by manufacturing capacity expansion, while general and administrative expenses rose to $29.9 million due to commercial launch preparations. The net loss for 2024 was $63.7 million, or $1.55 per share, compared to a loss of $54.2 million, or $2.53 per share, in 2023.
Strategically, Abeona is advancing its commercialization efforts for pz-cel, including engaging with treatment centers and payers, and expanding its manufacturing capacity. The company has also secured additional patents, extending protection for pz-cel’s use and packaging.
Looking ahead, Abeona’s management remains optimistic about the potential approval and launch of pz-cel, with sufficient resources to fund operations into 2026. The company continues to focus on its pipeline of gene therapies, aiming to address unmet medical needs in serious diseases.