Abeona Therapeutics Q3 loss beats expectations as treatment network expands
ABEO•Abeona Therapeutics reported a third-quarter net loss of $4.81 million, or $0.08 per share, beating analyst expectations of $8.66 million and $0.15 per share. ZEVASKYN revenue rose 18% sequentially to $13.5 million as the treatment network expanded.
1. Quarterly results
Abeona Therapeutics' third-quarter net loss was $4.81 million, compared with analysts' estimate of $8.66 million. Loss per share was $0.08, versus an expected $0.15. Income from operations was a loss of $13.001 million, wider than the estimated $9.80 million loss.
2. ZEVASKYN revenue
ZEVASKYN revenue rose 18% sequentially to $13.5 million, supported by expansion of the qualified treatment center network and more centers gaining treatment experience. New centers in Florida and Ohio expanded access for eligible pediatric and adult RDEB patients. Revenue was not recognized for one treatment because a batch did not meet release criteria.
3. Pipeline and financing
The company acquired ABO-801 and raised $30 million in PIPE financing to expand its pipeline. It did not provide specific financial guidance for the current or coming quarters in the press release.
