On 16 Jan 2020, Abeona Therapeutics Inc. stock identified change of 73.97% away from 52-week low price and recently located move of -69.80% off 52-week high price. ABEO stock has been recorded -15.92% away from 50 day moving average and -37.61% away from 200 day moving average. Moving closer, we can see that shares have been trading -20.61% off 20-day moving average.
Abeona Therapeutics Inc. (ABEO) recently reported third quarter 2019 financial results and business updates.
Third Quarter Financial Results:
Cash, cash equivalents and marketable securities as of September 30, 2019, were $47.9M contrast to $62.5M as of June 30, 2019. The decrease in cash was driven primarily by the net cash used in operating activities of $18.3M.
Research and development expenses for the third quarter ended September 30, 2019 were $10.9M contrast to $13.2M in the same period of 2018. The decrease in R&D expense was primarily attributable to reduced clinical and development work, partially offset by increased salary and related costs from the hiring of additional clinical, regulatory, manufacturing and quality staff.
General and administrative expenses for the third quarter ended September 30, 2019 were $4.7M contrast to $5.0M in the same period of 2018. The decrease in G&A expenses was primarily Because of reduced rental, recruiting, professional fee and salary related costs.
Net loss was $0.35 per share for the third quarter of 2019 contrast to $0.34 per share in the same period of 2018.
Third Quarter and Recent Highlights:
Submitted additional transport stability data for EB-101 in response to September 17 FDA Clinical Hold Letter regarding the planned Phase 3 VIITAL™ study.
Submitted Phase 3 VIITAL™ clinical trial protocol with updated PRO assessments, and submitted the retrovirus comparability protocol to FDA.
Presentation of data from the Transpher A Study, the Company’s ongoing Phase 1/2 clinical trial evaluating ABO-102 for the treatment of MPS IIIA, and research updates from its library of novel AIMTM adeno-associated virus capsids at the 27th European Society of Gene and Cell Therapy Congress.
Publication of positive long-term safety and efficacy data from the Phase 1/2a clinical trial of EB-101 in JCI Insight with collaborators from Stanford University School of Medicine.
- Three years after treatment with EB-101, a majority of RDEB patients had sustained wound healing, with 80% (16/20) of wounds achieving ≥50% healing, and 70% (14/20) achieving ≥75%
- Two years after treatment, only 1 of 6 untreated (17%), prospectively selected control wounds, had ≥50% healing
- 50% or greater wound healing was associated with no pain (0/16) and no itch (0/16) at treated sites three years post-treatment, contrast with presence of pain in 53% (20/38) and itch in 61% (23/38) of wound sites at baseline
- EB-101 was associated with long-term molecular expression of type VII collagen protein, which plays an important role in anchoring the dermal and epidermal layers of the skin
- No serious treatment-related adverse events were observed during the three-year observation period
Retained Jefferies LLC as its financial advisor to assist with the review of planned initiatives focused on advancing the Company’s mission and maximizing stakeholder value.
The Healthcare sector company, Abeona Therapeutics Inc. noticed change of -3.79% to $2.54 along volume of 900269 shares in recent session compared to an average volume of 1304.2K. ABEO’s shares are at 4.31% for the quarter and driving a -63.82% return over the course of the past year and is now at -22.32% since this point in 2018. The average volatility for the week at 9.21% and for month was at 11.57%. Right now the stock beta is 2.06.