Abeona Therapeutics Inc. (ABEO) is a clinical-stage novel biotherapeutics company engaged in the development of gene and cell therapies for life-threatening disorders. The lead product candidate of the company in Phase 3 trials is EB-101 for the treatment of recessive dystrophic epidermolysis bullosa. ABO-102 and ABO-101 in Phase 1/2 clinical trials are used in treating Sanfilippo syndrome.
The price of ABEO stock during the regular trading on February 7, 2022, was $0.26 with an increase of 3.10%. At last check in the premarket on February 8, 2022, the stock dipped by 2.55%.
ABEO: Events and Happenings
On December 22, 2021, ABEO issued a letter to its stockholders regarding the recap of the company’s achievement of different milestones in 2021. The letter also stated the steps which have placed the company on the course of a transformative 2022. On December 17, 2021, ABEO updated about the pricing of a definite public offering of 44,700,000 shares of the company’s common stock and warrants for the purchase of 44,700,000 shares of common stock at a public offering price of $0.39 per share. The net profit from the offering was $17.5 million.
On November 17, 2021, ABEO informed that its research data regarding ABO-102 was presented at the 14th Virtual International Congress of Inborn Errors of Metabolism on November 21-23, 2021.
ABEO: Key Financials
On November 15, 2021, ABEO released its financial results for the third fiscal quarter of 2021 ended September 30, 2021. Some of the main updates are mentioned below.
Revenue
The revenue in Q3 2021 was nil compared to the $7 million revenue in the same period of 2020. The analysts also expected no revenue in the quarter.
EPS
Basic and diluted net loss per share in Q3 2021 was $7.0 million or $0.07 compared to $7.2 million, or $0.08 in the same period of 2020. The company’s EPS beat the estimated figures by $0.02.
Conclusion
ABEO stock is 92% down the previous year due to pandemic recession. The company’s stock dipped in Tuesday’s premarket due to uncertain factors as there is no official press release or latest SEC filing available from the company. As the earnings release date of the quarter is near, the analysts are estimating the company’s EPS to be -$0.16.
