Abeona Therapeutics Inc. reported financial results for the first quarter of 2025 on May 15, 2025, highlighting recent operational progress. The company announced a net loss of $12.0 million, or $0.24 loss per common share, for the first quarter of 2025. This represents a significant improvement compared to a net loss of $31.6 million, or $1.16 loss per common share, in the first quarter of 2024.
Research and development spending increased to $9.9 million for the three months ended March 31, 2025, from $7.2 million in the same period of 2024, primarily due to increased headcount for manufacturing capacity scale-up and pre-clinical development. General and administrative expenses also rose to $9.8 million from $7.1 million, driven by increased headcount associated with the planned ZEVASKYN launch. These investments are crucial for the company's commercial transition.
As of March 31, 2025, Abeona held $84.5 million in cash, cash equivalents, restricted cash, and short-term investments, before accounting for the proceeds from the pending PRV sale. The company confirmed that the proceeds from the $155 million PRV sale, combined with existing cash, will fund operations for over two years, extending the runway through projected ZEVASKYN-driven profitability in early 2026. This robust financial footing de-risks the commercial launch.
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