Abeona anticipates broader adoption and long-term growth as real-world experience with ZEVASKYN matures
Overview
US cell and gene therapy firm's Q2 net ZEVASKYN revenue rose 31% quarter-over-quarter
Q2 net loss and loss per share missed analyst expectations
Q2 income from operations was slightly better than analyst expectations
Result drivers
Patient treatments - Q2 revenue growth attributed to increased number of patients treated with ZEVASKYN
QTC network expansion - Co said expanding qualified treatment center network enabled more patient onboarding and treatments
Manufacturing yield - Revenue not recognized for some treatments due to low manufacturing yield or not meeting lot release specifications
Analyst coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy."
ABEO•
