Abeona Therapeutics Inc. reported its financial results for the second quarter of 2025 on August 14, 2025, highlighting significant corporate updates. The company announced a net income of $108.8 million, or $2.07 per basic and $1.71 per diluted common share, for the second quarter of 2025. This includes the substantial gain from the sale of the Priority Review Voucher (PRV). In comparison, the net income in the second quarter of 2024 was $7.4 million, or $0.19 per basic and a net loss of $(0.26) per diluted common share.
As of June 30, 2025, Abeona's cash, cash equivalents, restricted cash, and short-term investments totaled $225.9 million, including the net proceeds from the PRV sale. This robust cash position is expected to fund current and planned operations for over two years, without accounting for anticipated revenue from ZEVASKYN sales. The company's commercial launch of ZEVASKYN is on track, with the first patient treatment expected in the third quarter of 2025.
Research and development spending for the three months ended June 30, 2025, decreased to $5.9 million from $9.2 million in the same period of 2024, primarily due to costs capitalized into inventory and reclassified as selling, general, and administrative (SG&A) expenses following ZEVASKYN's FDA approval. SG&A expenses increased to $17.1 million from $8.6 million, reflecting increased headcount and professional costs associated with the commercial launch. The company is building positive early momentum with strong patient interest at qualified treatment centers and positive insurance coverage established with multiple national and regional payers.
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