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CLEVELAND - Abeona Therapeutics Inc. (NASDAQ:ABEO), a biopharmaceutical company with a market capitalization of $290.57 million, announced Tuesday that Beacon Therapeutics has exercised its option to license Abeona’s AAV204 capsid for potential gene therapies targeting retinal diseases that cause blindness. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet.
The worldwide, non-exclusive license follows an evaluation agreement between the companies announced in July 2024. The AAV204 capsid, part of Abeona’s AIM capsid library licensed from the University of North Carolina at Chapel Hill, has demonstrated high macular and optic nerve transduction after para-retinal administration in preclinical studies. With a current ratio of 4.9, InvestingPro analysis shows the company’s liquid assets significantly exceed its short-term obligations.
Under the agreement, Beacon gains rights to use AAV204 for up to five gene or ophthalmology disease targets. Abeona will receive an undisclosed upfront payment and is eligible for additional payments upon reaching development, regulatory, and sales milestones, plus tiered royalties on worldwide net sales of products incorporating the AAV204 capsid.
"Beacon’s option exercise further validates AAV204’s potential to enable targeted delivery of gene therapies in rare and prevalent ophthalmic diseases," said Dr. Madhav Vasanthavada, Chief Commercial Officer and Head of Business Development at Abeona Therapeutics, according to the press release.
The AAV204 capsid has shown capabilities in achieving transduction of both inner and outer retina after intravitreal administration in mice and non-human primates. The technology is covered by U.S. patents.
Abeona Therapeutics is a commercial-stage biopharmaceutical company focused on cell and gene therapies. The company recently launched ZEVASKYN, a cell-based gene therapy for treating wounds in patients with recessive dystrophic epidermolysis bullosa. While analysts have set price targets ranging from $11 to $27.50, InvestingPro subscribers can access 8 additional key insights about the company’s financial health, which currently rates as FAIR based on comprehensive analysis. Get the full picture with InvestingPro’s detailed research report, available for over 1,400 US stocks.
In other recent news, Abeona Therapeutics has reported its first-quarter 2025 earnings, revealing a smaller-than-expected loss per share of -$0.24, surpassing the forecasted -$0.37. The company has yet to generate revenue, but the recent FDA approval of its new therapy, ZivaSkin, marks a significant milestone. In related developments, Abeona has strengthened its financial position by selling a priority review voucher, resulting in $152 million in net proceeds. This capital is expected to support the company’s operations for over two years and help achieve profitability by early 2026.
Additionally, Oppenheimer has assumed coverage of Abeona Therapeutics with an Outperform rating, highlighting the strong early momentum following the approval of ZEVASKYN. The firm has noted Abeona’s positive outlook on ZEVASKYN’s commercial trajectory, supported by agreements with major payer groups covering approximately 100 million individuals. Stifel has also adjusted its financial outlook for Abeona, reducing the price target to $20 while maintaining a Buy rating. These analyst ratings reflect confidence in Abeona’s strategic execution and potential market impact.
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