Abeona Therapeutics Inc. announced on May 12, 2025, that it has entered into a definitive asset purchase agreement to sell its Rare Pediatric Disease Priority Review Voucher (PRV) for gross proceeds of $155 million. The transaction is subject to customary closing conditions, including the expiration of the applicable waiting period under the Hart-Scott Rodino (HSR) Antitrust Improvements Act. Abeona was awarded the PRV following the U.S. Food and Drug Administration (FDA) approval of ZEVASKYN™ on April 28, 2025.
Chief Financial Officer Joe Vazzano stated that the proceeds from this PRV sale will provide sufficient cash to fund operations for over two years, without the need for additional capital infusion and before accounting for ZEVASKYN sales. This significantly extends the company's cash runway through its projected ZEVASKYN-driven profitability in early 2026. The sale provides robust financial flexibility for Abeona.
This non-dilutive financing is a critical de-risking factor for investors, ensuring the company has ample resources to execute its commercial strategy for ZEVASKYN. Stifel served as the lead financial advisor, with Jefferies also acting as a financial advisor on the transaction.
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