Abeona rises after US FDA priority review nod for epidermolysis bullosa

Abeona Therapeutics

27/11/2023 14:13

** Shares of Abeona Therapeutics  ABEO.O  rise 7% to $4.61
premarket
    ** Says U.S. FDA grants priority review of co's application
for a rare skin blistering condition treatment
    ** In the condition called recessive dystrophic
epidermolysis bullosa, the skin becomes fragile and blisters can
appear through rubbing or exposure to heat
    ** Severe form of the disease can be life threatening as
people suffering from it have a high risk of developing skin
cancer and their finger and toes can fuse
    ** FDA sets May 25 as deadline to decide on application
    ** Priority review allows a drug developer to expedite the
review process
    ** All 3 brokerages covering ABEO rate the stock "buy" or
higher; their median PT is $18
    ** As of Friday's close, stock up 40% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))