Abeona Therapeutics Inc. is a commercial-stage biopharmaceutical company focused on developing cell and gene therapies for life-threatening rare diseases. Headquartered in Cleveland, Ohio, the company's lead product is ZEVASKYN, an autologous cell-based gene therapy for the treatment of recessive dystrophic epidermolysis bullosa (RDEB). Abeona also develops adeno-associated virus (AAV)-based gene therapies for various ophthalmic conditions.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
5,820
—
3,500
1,414
Cost of Sales
3,425
—
1,605
450
Gross Profit
2,395
—
1,895
964
Selling, General & Administrative Expenses
65,031
29,851
19,004
17,256
Research & Development Expenses
26,812
34,360
31,091
28,965
Other Operating Expenses
—
—
(1,065)
5,658
Operating Profit
(89,448)
(64,211)
(47,135)
(50,915)
Interest and Investment Income
5,556
4,246
2,117
431
Interest Expense
(3,740)
(4,208)
(418)
(736)
Non-Operating Income
158,915
439
(8,752)
11,524
Total Non-Operating Income
160,731
477
(7,053)
11,219
Income Before Provision for Income Taxes
71,283
(63,734)
(54,188)
(39,696)
Provision for Income Taxes
100
—
—
—
Consolidated Net Income
71,183
(63,734)
(54,188)
(39,696)
Net Income Attributable to Preferred Dividends
—
—
—
3,782
Net Income Attributable to Common Shareholders
71,183
(63,734)
(54,188)
(43,478)
Basic EPS
1.34
-1.55
-2.53
-5.53
Diluted EPS
1.01
-1.55
-2.53
-5.53
Basic Weighted Average Shares Outstanding
52,953
41,048
21,380
7,862
Diluted Weighted Average Shares Outstanding
66,136
41,048
21,380
7,862
Shares Outstanding
55,043
45,644
26,524
17,720
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
78,437
23,357
14,473
14,217
Short-Term Investments
112,967
74,363
37,753
37,932
Total Cash and Cash Equivalents
191,404
97,720
52,226
52,149
Accounts Receivable
6,147
—
—
—
Other Receivables
568
1,652
2,444
188
Total Trade Receivables
6,715
1,652
2,444
188
Inventories
5,493
—
—
—
Other Current Assets
1,294
1,481
1,067
762
Total Current Assets
204,906
100,853
55,737
53,099
Net Property, Plant & Equipment
13,883
7,982
7,988
11,072
Other Long-Term Assets
781
96
277
43
Total Assets
219,570
108,931
64,002
64,214
Accounts Payable
7,889
3,441
1,858
1,811
Accrued Expenses
8,593
6,333
5,985
3,991
Current Portion of Long-Term Debt
12,222
5,926
—
—
Current Portion of Leases
864
823
998
1,773
Other Current Liabilities
2
64
4,581
204
Total Current Liabilities
29,570
16,587
13,422
7,779
Long-Term Debt
7,813
13,037
—
—
Leases
4,069
3,262
4,402
5,854
Other Long-Term Liabilities
18,902
32,014
31,352
23,820
Total Long-Term Liabilities
30,784
48,313
35,754
29,674
Total Liabilities
60,354
64,900
49,176
37,453
Common Stock
550
457
265
177
Additional Paid-in Capital
900,603
856,824
764,151
722,049
Accumulated Other Comprehensive Income
138
8
(66)
(129)
Retained Earnings
(742,075)
(813,258)
(749,524)
(695,336)
Total Common Shareholders' Equity
159,216
44,031
14,826
26,761
Total Shareholders' Equity
159,216
44,031
14,826
26,761
Total Liabilities and Shareholders' Equity
219,570
108,931
64,002
64,214
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
71,183
(63,734)
(54,188)
(39,696)
Depreciation & Amortization
2,549
2,004
2,288
3,093
Share-Based Compensation Expense
10,779
6,628
4,768
3,051
Other Adjustments
(155,450)
3,470
11,911
(4,039)
Changes in Trade Receivables
(5,063)
792
(2,041)
2,812
Changes in Inventories
(5,493)
—
—
—
Changes in Accounts Payable
6,540
1,507
2,041
(4,108)
Changes in Income Taxes Payable
126
—
—
—
Changes in Other Operating Activities
(1,497)
(6,682)
(1,788)
(4,596)
Cash from Operating Activities
(76,326)
(56,015)
(37,009)
(43,483)
Capital Expenditure
(7,975)
(2,446)
(331)
(130)
Proceeds from Sale of Property, Plant & Equipment
—
18
204
1,734
Purchases of Investments
(206,634)
(157,010)
(51,636)
(78,212)
Proceeds from Sale of Investments
167,271
120,198
51,971
52,644
Other Investing Activities
152,366
—
—
—
Cash from Investing Activities
105,028
(39,240)
208
(23,964)
Issuance of Long-Term Debt
—
20,000
—
—
Net Issuance / (Repayments) of Long-Term Debt
—
20,000
—
—
Issuance of Common Shares
26,077
85,628
37,389
46,960
Repurchases of Common Shares
(37)
(526)
(182)
(5)
Net Issuance / (Repurchases) of Common Shares
26,040
85,102
37,207
46,955
Issuance of Preferred Shares
—
—
—
22,468
Repurchases of Preferred Shares
—
—
—
(26,250)
Net Issuance / (Repurchases) of Preferred Shares
—
—
—
(3,782)
Other Financing Activities
—
(963)
(150)
—
Cash from Financing Activities
26,040
104,139
37,057
43,173
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash