Abeona Therapeutics(US:ABEO) prnewswire.com·2024-05-17 00:45Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices by Abeona Therapeutics Inc. and its officers or directors following a significant stock price drop after a regulatory setback with the FDA [1][2]. Group 1: Regulatory Update - On April 22, 2024, Abeona announced that the FDA issued a Complete Response Letter (CRL) regarding its Biologics License Application (BLA) for prademagene zamikeracel (pz-cel) intended for treating recessive dystrophic epidermolysis bullosa (RDEB) [2]. - The CRL indicated that additional information was required to meet Chemistry Manufacturing and Controls (CMC) standards before the application could be approved [2]. - Abeona committed to providing the necessary CMC data prior to BLA approval and full validation reports after approval in mid-2024 [2]. Group 2: Stock Price Impact - Following the announcement of the CRL, Abeona's stock price fell by $3.95 per share, representing a 53.67% decrease, closing at $3.41 per share on April 23, 2024 [2]. Group 3: Pomerantz LLP Overview - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of recovering billions in damages for victims of securities fraud and corporate misconduct [3]. - The firm has been active for over 85 years, continuing the legacy of its founder, Abraham L. Pomerantz, who was a pioneer in securities class actions [3].