(RTTNews) - Abeona Therapeutics Inc. (ABEO), a commercial-stage biopharmaceutical company developing cell and gene therapies, reported financial results for the second quarter reflecting a swing to a net loss compared to profit a year ago, with the year-ago results largely driven by the sale of a priority review voucher.
Abeona's FDA-approved ZEVASKYN (prademagene zamikeracel) is an autologous cell-based gene therapy for the treatment of wounds in adult and pediatric patients with recessive dystrophic epidermolysis bullosa (RDEB).
The company's development portfolio also includes ABO-701, an engineered T-cell therapy for solid tumours.
For the second quarter of 2026, the firm incurred a net loss of $20.19 million or $0.35 per share, compared to a net income of $108.83 million or $1.71 per share, in the prior year.
Notably, the profit in the year-ago period was mainly driven by a $152.37 million gain from the sale of a priority review voucher.
Total revenue of the company in the second quarter surged to $11.38 million from $0.40 million a year ago.
Five patients were treated with ZEVASKYN during the second quarter, and three additional patients were treated to date in the third quarter, according to the company.
As of June 30, 2026, the company's cash, cash equivalents and short-term investments totalled $146.8 million.
ABEO has traded between $4.00 and $7.65 over the last year. The stock closed Wednesday's trading at $7.46.
ABEO is currently down to $6.41, down 14.01%.
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