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In a recent transaction, Seshadri Vishwas, the Chief Executive Officer of Abeona Therapeutics Inc. (NASDAQ:ABEO), sold 25,000 shares of the company’s common stock. The shares were sold at a weighted average price of $4.78, amounting to a total value of $119,500. This sale was conducted under a Rule 10b5-1 trading plan that Vishwas adopted on September 18, 2024. According to InvestingPro data, ABEO’s stock has shown significant volatility, with the price currently at $4.76, down about 34% over the past year. Analysts maintain a strong buy consensus with price targets ranging from $9.50 to $25.
Following this transaction, Vishwas retains ownership of 1,355,322 shares in the company. The shares were sold in multiple transactions, with prices ranging between $4.71 and $4.81. With a market capitalization of $231 million and an overall Financial Health score of FAIR on InvestingPro, which offers 8 additional key insights about ABEO’s performance and outlook in its comprehensive Pro Research Report. Vishwas has committed to providing the company, its shareholders, or the Securities and Exchange Commission with detailed information regarding the specific prices of each transaction upon request.
In other recent news, Abeona Therapeutics Inc. reported a surprising fourth-quarter earnings result for 2024, with an earnings per share (EPS) of $0.50, significantly outperforming the anticipated loss of $0.35 per share. Despite this positive earnings surprise, the company’s revenue fell short of projections, recording zero revenue against an expected $100,000. The company maintains a strong cash position, with $98.1 million available, and has increased its manufacturing capacity in anticipation of potential demand for its RDEB treatment. Looking ahead, Abeona anticipates an FDA decision on its lead product, Pradimigene zamytereso, by April 2025. Analysts have noted the potential for significant revenue, estimating over $2 billion in cumulative revenue in the U.S. alone. The company is preparing for the commercial launch of its product, with plans to activate treatment centers by the third quarter of 2025. Abeona’s executives have expressed optimism about the company’s future, highlighting the potential for two FDA approvals in 2025.
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