Abeona Therapeutics(US:ABEO)2024-05-15 11:30Financial Performance - Net loss for the first quarter of 2024 was $31.6 million, or $1.16 loss per common share, compared to a net loss of $9.1 million, or $0.54 loss per common share in the same period of 2023[5]. - Research and development expenses for Q1 2024 were $7.2 million, a decrease from $8.0 million in Q1 2023[5]. - General and administrative expenses increased to $7.1 million in Q1 2024 from $4.0 million in Q1 2023[5]. Cash Position - Cash, cash equivalents, restricted cash, and short-term investments totaled $62.7 million as of March 31, 2024, up from $52.6 million as of December 31, 2023[4]. - Abeona Therapeutics closed a $75 million underwritten securities offering in May 2024, extending its cash runway into 2026[2]. Assets and Liabilities - Abeona's total assets increased to $74.8 million as of March 31, 2024, from $64.0 million as of December 31, 2023[13]. - Total liabilities rose to $83.7 million as of March 31, 2024, compared to $49.2 million as of December 31, 2023[13]. Regulatory and Development Updates - Abeona anticipates completing the BLA resubmission for pz-cel in the second half of 2024 following a Complete Response Letter from the FDA[2]. - The FDA's CRL did not identify deficiencies related to clinical efficacy or safety data, and no new clinical trials are required for pz-cel approval[2]. - The company is preparing for a potential U.S. commercial launch of pz-cel, including onboarding discussions with treatment sites and building supply chain capabilities[3].