• Mon. Nov 30th, 2020

Pharma Oracle

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This Will Blow Your Mind: Abeona Therapeutics Inc. (NASDAQ: ABEO)

On 28 May 2020, Abeona Therapeutics Inc. (NASDAQ: ABEO) changed -0.91% to recent value of $3.27. The stock transacted 202490 shares during most recent day however it has an average volume of 1348.11K shares. It spotted trading -49.85% off 52-week high price. On the other end, the stock has been noted 142.22% away from the low price over the last 52-weeks.

Abeona Therapeutics Inc. (ABEO) recently reported fourth quarter and full year 2019 financial results.

Fourth Quarter and Recent Highlights
Opening of enrollment in the Phase 3 VIITAL™ study evaluating EB-101 for RDEB, which is on track to treat the first patient in Q1. The majority of study participants have been pre-screened and preparations for an additional clinical site initiation are ongoing.

Presentation of positive interim data from ABO-102 gene therapy program in MPS IIIA at WORLDSymposium™:

  • Three young patients treated in high-dose cohort 3 (at ages 27 months, 19 months, and 12 months) continued to show preserved neurocognitive skills 18 months to two years post treatment, contrast with natural history.
  • Across all cohorts (n=14), biomarker improvements included rapid and sustained, dose-related reductions in CSF-HS that reached lower limit of quantitation in Cohort 3 (n=2); a reduction in plasma HS levels; and a durable, dose-dependent reduction in liver volume with up to 2 years of follow up.
  • ABO-102 has been well-tolerated, with long-term safety remaining favorable 15-45 months post treatment. There have been no treatment-related severe adverse events and no clinically-important adverse events stated.

Presentation of positive interim data from ABO-101 gene therapy program in MPS IIIB at WORLDSymposium™:

  • Initial improvements in multiple disease-specific biomarkers including reduced cerebrospinal fluid heparan sulfate (HS) levels, reduced plasma and urine HS and glycosaminoglycans, reduced liver volume.
  • ABO-101 has been well-tolerated to date, with no treatment-related severe adverse events and no clinically-important adverse events stated (n=8).

Completion of cohort 2 and enrollment in cohort 3 of the ABO-101 Transpher B study in MPS IIIB.

Closing of $103.5M underwritten public offering strengthening balance sheet to support the VIITAL™ study through data readouts and the advancement of additional clinical programs.

Receipt of EMA PRIME designation for ABO-102 program in MPS IIIA.

Issuance of two U.S. Patents for AIM™ AAV capsids.

Completion of planned review.

Fourth Quarter and Full Year Summary Financial Results
Cash, cash equivalents and marketable securities as of December 31, 2019 were $129.3M, contrast to $47.9M as of September 30, 2019. The increase in cash of $81.4M was driven primarily by $103.5M gross underwritten public offering.

Net loss was $0.30 per share for the fourth quarter of 2019, contrast to $0.36 per share in the comparable period in 2018. For the twelve months ended December 31, 2019, net loss was $1.51 per share contrast to $1.19 per share in the same period in 2018.

Its earnings per share (EPS) expected to touch remained -27.10% for this year.  The company has 92.64M of outstanding shares and 67.28M shares were floated in the market. According to the most recent quarter its current ratio was 3.2 that represents company’s ability to meet its current financial obligations.

 

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