Abeona Therapeutics rises on FDA priority review voucher sale for $155 million

Abeona Therapeutics

02/07/2025 13:13

** Shares of Abeona Therapeutics ABEO.O rise 4% to $5.79 premarket

** Company says it closed the sale of its priority review voucher (PRV) for $155 million on June 27

** The U.S. FDA granted the company PRV in April after approval of its cell-based gene therapy Zevaskyn

** PRV holders can benefit from an expedited six-month review of a new drug application for any disease by the FDA

** Including sale of PRV, company now has cash, cash equivalents, restricted cash and short-term investments worth about $225 million as of June 30

** PRV proceeds, along with existing cash, ensure over two years of operating capital without the need for further capital infusion and prior to accounting for Zevaskyn sales - company

** Abeona anticipates first Zevaskyn patient treatment in Q3 2025, with profitability projected for early 2026 - CFO Joe Vazzano

** As of last close, stock up 35.2% in the past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))