U.S. stock futures little changed; tech valuation concerns remain
Investing.com -- Abeona Therapeutics Inc (NASDAQ:ABEO) stock climbed 4.9% Thursday after the company announced that the Centers for Medicare and Medicaid Services (CMS) has established a permanent J-code for its gene therapy ZEVASKYN.
The new J-code, J3389 (Topical administration, prademagene zamikeracel, per treatment), will become effective on January 1, 2026. This code is designed to simplify claims and reimbursement processing between qualified treatment centers and payers across public and private sectors.
ZEVASKYN is an autologous gene therapy developed for treating wounds in adult and pediatric patients with recessive dystrophic epidermolysis bullosa (RDEB). The therapy received FDA approval earlier this year as the first treatment specifically for RDEB wounds.
"The assignment of a unique, product-specific J-code by CMS is a major step forward in ZEVASKYN’s launch," said Dr. Madhav Vasanthavada, Chief Commercial Officer of Abeona. "This code will further support hospital adoption and patient access for ZEVASKYN."
J-codes are unique identifiers for non-orally administered medications in healthcare settings and play a critical role in streamlining medical billing and reimbursement processes related to drug administration.
Abeona Therapeutics is a commercial-stage biopharmaceutical company focused on developing cell and gene therapies for serious diseases.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.