Abeona Therapeutics® Reports First Quarter 2025 Financial Results and Corporate Updates

Core Insights - Abeona Therapeutics has received FDA approval for ZEVASKYN™, the first autologous cell-based gene therapy for treating wounds in patients with recessive dystrophic epidermolysis bullosa (RDEB) [1][5] - The company is transitioning to a commercial-stage entity with the launch of ZEVASKYN and has activated its first treatment center [2][4] Recent Developments - ZEVASKYN's FDA approval marks a significant milestone for RDEB patients, with the first treatment expected in Q3 2025 [5] - Abeona has secured a $155 million non-dilutive capital through the sale of its Rare Pediatric Disease Priority Review Voucher (PRV), which will fund operations for over two years [3] - The company has entered into value-based agreements with commercial payer groups, ensuring access to ZEVASKYN for approximately 100 million commercially-insured lives [5] Financial Results - As of March 31, 2025, the company reported cash and cash equivalents totaling $84.5 million, down from $98.1 million at the end of 2024 [6] - Research and development expenses increased to $9.9 million in Q1 2025 from $7.2 million in Q1 2024, primarily due to scaling up manufacturing for ZEVASKYN [7] - The net loss for Q1 2025 was $12.0 million, a significant reduction from a net loss of $31.6 million in Q1 2024 [8][14]