Abeona Therapeutics Inc. (NASDAQ:ABEO) reported first-quarter earnings Wednesday before the market opened. Here’s a rundown of the report.
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Q1 Highlights
Abeona reported a loss of 30 cents per share, beating the consensus estimate of a 35 cent-loss. In addition, it reported revenue of $8.72 million, beating the consensus estimate of $4.57 million.
Total research and development expenses were $9.6 million in the first quarter compared to $9.9 million in the prior-year period.
The first quarter of 2026 included a $7 million upfront payment related to the in-licensing of the PSMA-SIR-T asset, now known as ABO-701. Excluding the transaction, research and development spending decreased by $7.4 million.
The company said the reduction in expenses was primarily due to costs capitalized into inventory, engineering runs and other production costs following FDA approval of ZEVASKYN in April 2025.
Abeona said three patients completed ZEVASKYN treatment during the first quarter, with one treatment completed to date in the second quarter.
The company also said one biopsy is currently in the manufacturing process and six additional patients are expected to be biopsied in the second quarter, including three with scheduled biopsies.
Abeona expanded its qualified treatment center network to six sites with the activation of NewYork-Presbyterian / Columbia University Irving Medical Center and Children’s Hospital of Philadelphia.
The company also said published coverage policies are now in place for 95% of commercially insured U.S. lives.
As of March 31, Abeona had cash, cash equivalents and short-term investments totaling $168.3 million.
Abeona Shares Edge Higher
ABEO Price Action: At the time of publication, Abeona shares are trading 2.11% higher at $5.80, according to data from Benzinga Pro
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