Quarterly ResultMay 13, 2026, 07:42 AM
Abeona Therapeutics Q1 Product Revenue $8.72M; Net Loss $(17.08)M
AI Summary
Abeona Therapeutics reported its first product revenue of $8.72 million for the first quarter of 2026, driven by the commercialization of ZEVASKYN® following its FDA approval in April 2025. Despite this, the company's net loss widened to $(17.08) million, or $(0.30) per share, compared to a net loss of $(12.03) million in the prior year's quarter, primarily due to increased operating expenses. Abeona also highlighted the recent licensing of ABO-701 for prostate cancer and stated that its capital resources are expected to fund operations for at least the next 12 months.
Key Highlights
- Product revenue, net was $8.72 million for Q1 2026, up from $0 in Q1 2025.
- Net loss increased to $(17.08) million in Q1 2026 from $(12.03) million in Q1 2025.
- Basic and diluted loss per common share was $(0.30) for Q1 2026, compared to $(0.24) in Q1 2025.
- Total costs and expenses rose to $31.75 million in Q1 2026 from $19.73 million in Q1 2025.
- Cash and cash equivalents stood at $61.37 million as of March 31, 2026.
- Net cash used in operating activities was $(19.80) million for Q1 2026.
- ZEVASKYN® commercialization generated the company's first product revenue.
- Abeona licensed ABO-701, an engineered T-cell therapy for prostate cancer.
Price Impact
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