ABEO Abeona Therapeutics Inc.

2.85
0  0%
Previous Close 2.85
Open 2.88
52 Week Low 1.35
52 Week High 5.19
Market Cap $238,539,095
Shares 83,697,928
Float 69,308,231
Enterprise Value $130,212,094
Volume 461,343
Av. Daily Volume 1,038,798
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Upcoming Catalysts

Drug Stage Catalyst Date
EB-101
Recessive dystrophic epidermolysis bullosa (RDEB)
Phase 1/2
Phase 1/2
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Drug Pipeline

Drug Stage Notes
ABO-102
Sanfilippo syndrome type A (MPS IIIA)
Phase 1/2
Phase 1/2
Phase 1/2 updated data presented at ASGCT May 2020.
ABO-202
CLN1 disease (Infantile Batten disease)
Phase 1/2
Phase 1/2
Phase 1/2 trial planned.
ABO-101
Sanfilippo syndrome type B (MPS IIIB)
Phase 1/2
Phase 1/2
Phase 1/2 presentation at WORLDSymposium February 12, 2020 noted trial has been well-tolerated to date, with no treatment-related severe adverse events.

Latest News

  1. NEW YORK and CLEVELAND, June 18, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced that two abstracts related to its clinical program for recessive dystrophic epidermolysis bullosa (RDEB) will be presented at the upcoming Society for Pediatric Dermatology (SPD) 45th Annual Meeting, to be held virtually during July 10-12, 2020. RDEB is a rare connective tissue disorder without an approved treatment, in which patients suffer from severe epidermal wounds that severely impact their lives.

    The first abstract features a more detailed examination than previously disclosed of data on long-term pain relief following durable healing of wounds in RDEB patients treated…

    NEW YORK and CLEVELAND, June 18, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced that two abstracts related to its clinical program for recessive dystrophic epidermolysis bullosa (RDEB) will be presented at the upcoming Society for Pediatric Dermatology (SPD) 45th Annual Meeting, to be held virtually during July 10-12, 2020. RDEB is a rare connective tissue disorder without an approved treatment, in which patients suffer from severe epidermal wounds that severely impact their lives.

    The first abstract features a more detailed examination than previously disclosed of data on long-term pain relief following durable healing of wounds in RDEB patients treated with EB-101 in a Phase 1/2 study. Separately, a literature review on the clinical, humanistic and economic burden of RDEB will be presented.

    The posters will be presented by Jean Tang, M.D., Ph.D., Professor of Dermatology, Stanford University Medical Center and Principal Investigator of the EB-101 pivotal Phase 3 VIITALTM study, and M. Peter Marinkovich, M.D., Investigator on the VIITALTM study and Bullous Disease Clinic Director, Stanford University Medical Center. Details for the presentations are as follows:

    Title: Durable Healing and Pain Reduction in Recessive Dystrophic Epidermolysis Bullosa (RDEB) Following EB-101 Treatment of Large, Chronic Wounds

    Presenter: Jean Tang, M.D. Ph.D.

    Virtual Session Date: July 10-12, 2020

    Title: The Full Burden of Recessive Dystrophic Epidermolysis Bullosa (RDEB)

    Presenter: M. Peter Marinkovich, M.D.

    Virtual Session Date: July 10-12, 2020

    Following the conclusion of each virtual presentation, the posters will be available on the "Events" page under the "Investors & Media" section of Abeona's website at www.abeonatherapeutics.com.

    More details about the programs for the SPD Annual Meeting are available at https://pedsderm.net/meetings/annual-meeting/.

    About EB-101

    EB-101 is an autologous, gene-corrected cell therapy currently being investigated in the pivotal Phase 3 VIITALTM study for the treatment of recessive dystrophic epidermolysis bullosa (RDEB), a rare connective tissue disorder without an approved therapy. The EB-101 VIITALTM study is a multi-center, randomized clinical trial enrolling 10 to 15 RDEB patients with approximately 30 large, chronic wound sites treated in total. Treatment with EB-101 involves using gene transfer to deliver COL7A1 genes into a patient's own skin cells (keratinocytes and its progenitors) and transplanting them back to the patient to enable normal Type VII collagen expression and facilitate wound healing. Abeona produces EB-101 for the VIITALTM study at its fully-functional gene and cell therapy manufacturing facility in Cleveland, OH. In a Phase 1/2a clinical trial, EB-101 provided durable wound healing for RDEB patients lasting 2+ to 5+ years, including for the largest, most challenging wounds that affect the majority of the RDEB population. More information on the clinical trials of EB-101 can be found at https://www.abeonatherapeutics.com/clinical-trials/rdeb and ClinicalTrials.gov.

    About Recessive Dystrophic Epidermolysis Bullosa

    Recessive dystrophic epidermolysis bullosa (RDEB) is a rare connective tissue disorder characterized by severe skin wounds that cause pain and can lead to systemic complications impacting the length and quality of life. People with RDEB have a defect in the COL7A1 gene, leaving them unable to produce functioning type VII collagen which is necessary to anchor the dermal and epidermal layers of the skin. There is currently no approved treatment for RDEB.

    About Abeona Therapeutics

    Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company developing gene and cell therapies for serious diseases. Abeona's clinical programs include EB-101, its autologous, gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa in Phase 3 development, as well as ABO-102 and ABO-101, novel AAV-based gene therapies for Sanfilippo syndrome types A and B (MPS IIIA and MPS IIIB), respectively, in Phase 1/2 development. The Company's portfolio of AAV-based gene therapies also features ABO-202 and ABO-201 for CLN1 disease and CLN3 disease, respectively. Abeona's library of novel, next-generation AIM™ capsids have shown potential to improve tropism profiles for a variety of devastating diseases. Abeona's fully functional, gene and cell therapy GMP manufacturing facility produces EB-101 for the pivotal Phase 3 VIITALTM study and is capable of clinical and commercial production of AAV gene therapies. For more information, visit www.abeonatherapeutics.com.

    Forward-Looking Statements

    This press release contains certain statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and that involve risks and uncertainties. These statements include statements about the Company's clinical trials and its products and product candidates, future regulatory interactions with regulatory authorities, as well as the Company's goals and objectives. We have attempted to identify forward looking statements by such terminology as "may," "will," "believe," "estimate," "expect," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances), which constitute and are intended to identify forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, numerous risks and uncertainties, including but not limited to the potential impacts of the COVID-19 pandemic on our business, operations, and financial condition, continued interest in our rare disease portfolio, our ability to enroll patients in clinical trials, the outcome of any future meetings with the U.S. Food and Drug Administration or other regulatory agencies, the impact of competition, the ability to secure licenses for any technology that may be necessary to commercialize our products, the ability to achieve or obtain necessary regulatory approvals, the impact of changes in the financial markets and global economic conditions, risks associated with data analysis and reporting, and other risks as may be detailed from time to time in the Company's Annual Reports on Form 10-K and quarterly reports on Form 10-Q and other periodic reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to revise the forward-looking statements or to update them to reflect events or circumstances occurring after the date of this presentation, whether as a result of new information, future developments or otherwise, except as required by the federal securities laws.

    Investor Contact:

    Greg Gin

    VP, Investor Relations

    Abeona Therapeutics

    +1 (646) 813-4709

    Media Contact:

    Scott Santiamo

    Director, Corporate Communications

    Abeona Therapeutics

    +1 (718) 344-5843

    Primary Logo

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  2. NEW YORK and CLEVELAND, June 17, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced Board of Director appointments that strengthen and expand the Company's leadership. George Migausky and Paul Mann were appointed as independent directors, effective June 17, 2020. In addition to their Board service, Mr. Migausky will serve as Chairman of the Company's Audit Committee and Mr. Mann will serve as a member of the Audit Committee.

    "George and Paul are highly regarded professionals with substantial financial management, operational, business development and capital raising experience in the biotechnology industry, bringing essential knowledge and expertise to Abeona…

    NEW YORK and CLEVELAND, June 17, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced Board of Director appointments that strengthen and expand the Company's leadership. George Migausky and Paul Mann were appointed as independent directors, effective June 17, 2020. In addition to their Board service, Mr. Migausky will serve as Chairman of the Company's Audit Committee and Mr. Mann will serve as a member of the Audit Committee.

    "George and Paul are highly regarded professionals with substantial financial management, operational, business development and capital raising experience in the biotechnology industry, bringing essential knowledge and expertise to Abeona," said Brian Pereira, M.D., Executive Chairman of Abeona. "The addition of George and Paul complements the skills and experiences of Abeona's existing Board members and leadership team, and we are confident that they will provide valuable perspective and guidance as we continue to advance our gene and cell therapies aimed at addressing urgent unmet needs."

    Mr. Migausky brings more than 30 years of experience in senior financial management to Abeona's Board, having served as Chief Financial Officer (CFO) of several public biopharmaceutical and clinical diagnostic companies. Most recently, Mr. Migausky served as interim CFO of Ocular Therapeutix, Inc. and previously served as Executive Vice President and CFO of Dyax Corp. for eight years through its acquisition by Shire plc for $6.4 billion. Mr. Migausky's previous roles include CFO of Wellstat Management Company, as well as CFO at IGEN International and BioVeris Corporation through their respective acquisitions by F. Hoffman LaRoche, and Manager, Emerging Business Services at Deloitte & Touche. Mr. Migausky currently serves on the Board of Directors and Chair of the Audit Committee at Immunovant, Inc., is an independent member of the Board of Directors at Hyperion Catalysis International, and a trustee for the Massachusetts Eye and Ear Institute. He received his MBA from Babson College and his BS from Boston College.

    Mr. Mann has over 20 years of experience in the financial and biotechnology industries. Most recently, he served as CFO at PolarityTE, Inc., a biotechnology and regenerative biomaterials company, where he was responsible for all financial operations. Prior to that, Mr. Mann was the Healthcare Portfolio Manager at Highbridge Capital Management and has held positions with Soros Fund Management, UBS Investment Group, Morgan Stanley and Deutsche Bank. Mr. Mann began his career as a scientist at Procter and Gamble and is named as an inventor on patents for skincare compounds and technologies. Mr. Mann has an MA (Cantab) and an MEng from Cambridge University where he studied Natural Sciences and Chemical Engineering.

    About Abeona Therapeutics

    Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company developing gene and cell therapies for serious diseases. Abeona's clinical programs include EB-101, its autologous, gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa in Phase 3 development, as well as ABO-102 and ABO-101, novel AAV-based gene therapies for Sanfilippo syndrome types A and B (MPS IIIA and MPS IIIB), respectively, in Phase 1/2 development. The Company's portfolio of AAV-based gene therapies also features ABO-202 and ABO-201 for CLN1 disease and CLN3 disease, respectively. Abeona's library of novel, next-generation AIM™ capsids have shown potential to improve tropism profiles for a variety of devastating diseases. Abeona's fully functional, gene and cell therapy GMP manufacturing facility produces EB-101 for the pivotal Phase 3 VIITAL™ study and is capable of clinical and commercial production of AAV gene therapies. For more information, visit www.abeonatherapeutics.com

    Forward-Looking Statements

    This press release contains certain statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and that involve risks and uncertainties. These statements include statements about the Company's clinical trials and its products and product candidates, future regulatory interactions with regulatory authorities, as well as the Company's goals and objectives. We have attempted to identify forward looking statements by such terminology as "may," "will," "believe," "estimate," "expect," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances), which constitute and are intended to identify forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, numerous risks and uncertainties, including but not limited to the potential impacts of the COVID-19 pandemic on our business, operations, and financial condition, continued interest in our rare disease portfolio, our ability to enroll patients in clinical trials, the outcome of any future meetings with the U.S. Food and Drug Administration or other regulatory agencies, the impact of competition, the ability to secure licenses for any technology that may be necessary to commercialize our products, the ability to achieve or obtain necessary regulatory approvals, the impact of changes in the financial markets and global economic conditions, risks associated with data analysis and reporting, and other risks as may be detailed from time to time in the Company's Annual Reports on Form 10-K and quarterly reports on Form 10-Q and other periodic reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to revise the forward-looking statements or to update them to reflect events or circumstances occurring after the date of this presentation, whether as a result of new information, future developments or otherwise, except as required by the federal securities laws.

    Investor Contact:

    Greg Gin

    VP, Investor Relations

    Abeona Therapeutics

    +1 (646) 813-4709

    Media Contact:

    Scott Santiamo

    Director, Corporate Communications

    Abeona Therapeutics

    +1 (718) 344-5843

    Primary Logo

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  3. NEW YORK and CLEVELAND, May 28, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced that João Siffert, M.D., Chief Executive Officer, will present at the Jefferies Virtual Healthcare Conference on Thursday, June 4, 2020 at 10:00 a.m. ET.

    A live webcast of the presentation will be available on the investor section of the Abeona Therapeutics website at www.abeonatherapeutics.com. The webcast replay will be available within 24 hours of the live presentation and will be accessible for 90 days.

    About Abeona Therapeutics
    Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company developing gene and cell therapies for serious diseases. The Company's clinical…

    NEW YORK and CLEVELAND, May 28, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced that João Siffert, M.D., Chief Executive Officer, will present at the Jefferies Virtual Healthcare Conference on Thursday, June 4, 2020 at 10:00 a.m. ET.

    A live webcast of the presentation will be available on the investor section of the Abeona Therapeutics website at www.abeonatherapeutics.com. The webcast replay will be available within 24 hours of the live presentation and will be accessible for 90 days.

    About Abeona Therapeutics
    Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company developing gene and cell therapies for serious diseases. The Company's clinical programs include EB-101, its autologous, gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, as well as ABO-102 and ABO-101, novel AAV-based gene therapies for Sanfilippo syndrome types A and B (MPS IIIA and MPS IIIB), respectively. The Company's portfolio of AAV-based gene therapies also features ABO-202 and ABO-201 for CLN1 disease and CLN3 disease, respectively. Abeona has received numerous regulatory designations from the FDA and EMA for its pipeline candidates, including Regenerative Medicine Advanced Therapy designation for two candidates (EB-101 and ABO-102). www.abeonatherapeutics.com

    Investor Contact:
    Greg Gin
    VP, Investor Relations
    Abeona Therapeutics
    +1 (646) 813-4709

    Media Contact:
    Scott Santiamo
    Director, Corporate Communications
    Abeona Therapeutics
    +1 (718) 344-5843

    Primary Logo

    View Full Article Hide Full Article
  4. First patient treated in ongoing pivotal Phase 3 VIITAL™ study evaluating EB-101 for RDEB

    Additional patients dosed in the Phase 1/2 gene therapy studies for MPS IIIA and MPS IIIB

    Positive interim data from MPS III gene therapy programs presented at WORLDSymposium™; updated results to be presented at ASGCT 2020

    Appointed two industry leaders to Board of Directors and strengthened management team

    Company to host investor conference call Thursday, May 7, 2020 at 8:30 a.m. ET

    NEW YORK and CLEVELAND, May 06, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced first quarter 2020 financial results, which will be discussed on a conference call scheduled for Thursday…

    First patient treated in ongoing pivotal Phase 3 VIITAL™ study evaluating EB-101 for RDEB

    Additional patients dosed in the Phase 1/2 gene therapy studies for MPS IIIA and MPS IIIB

    Positive interim data from MPS III gene therapy programs presented at WORLDSymposium™; updated results to be presented at ASGCT 2020

    Appointed two industry leaders to Board of Directors and strengthened management team

    Company to host investor conference call Thursday, May 7, 2020 at 8:30 a.m. ET

    NEW YORK and CLEVELAND, May 06, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced first quarter 2020 financial results, which will be discussed on a conference call scheduled for Thursday, May 7, 2020 at 8:30 a.m. ET. Interested parties are invited to participate in the call by dialing 844-455-1352 (U.S. toll-free) or 509-844-0155 (international), and reference conference ID 5352629, or via webcast at https://investors.abeonatherapeutics.com/ir-calendar.

    "During these challenging times, our priority remains to ensure the safety of our employees and patients, while supporting continuity of our business and clinical operations," said João Siffert, M.D., Chief Executive Officer of Abeona. "We have made considerable progress in our clinical programs in the first quarter of 2020, and are working with our investigators to minimize the impact of the COVID-19 pandemic. It is our intention to restore full patient access to our clinical programs as soon as possible. Our gene and cell therapies in development aim at addressing urgent unmet needs, and have the potential to provide durable benefit to patients who have no approved treatments."

    First Quarter and Recent Highlights

    • First patient treated in pivotal Phase 3 VIITAL™ study evaluating EB-101 for recessive dystrophic epidermolysis bullosa (RDEB). An additional 10 patients have been prescreened for this study.
    • Additional patients treated in dose cohort 3 of the Transpher A study and the Transpher B study.
    • Presented positive interim data from the Transpher A study of ABO-102 at WORLDSymposium™ demonstrating improved neurocognitive skills 18 months to two years post-treatment in MPS IIIA patients younger than 30 months, sustained, dose-related biomarker improvements, and a favorable safety profile.
    • Presented positive interim data from the Transpher B study of ABO-101 at WORLDSymposium™ demonstrating initial improvement in multiple disease-specific biomarkers, denoting clear biologic effects, and a favorable safety profile among MPS IIIB patients.
    • Updated interim results from the Transpher A and Transpher B studies to be presented during the American Society of Gene & Cell Therapy (ASGCT) 23rd Annual Meeting, which will take place online May 12-15, 2020.
    • Two U.S. patents issued for adeno-associated virus (AAV) capsids exclusively licensed by Abeona from the University of North Carolina ("UNC"), generated using UNC's AIM™ vector platform.
    • Announced key appointments of industry leaders to its Board of Directors in April. Dr. Brian J. G. Pereira was appointed as Executive Chairman and Ms. Shawn Tomasello as an Independent Board Member. Dr. Pereira is a seasoned biopharmaceutical and healthcare leader with experience in financing and growing companies, including the clinical development and commercialization of innovative drug products. Ms. Tomasello has substantial commercial and strategic experience, including serving as Chief Commercial Officer at cell therapy pioneer Kite Pharma, which was acquired by Gilead Sciences.
    • Strengthened its leadership team with the appointments of Gregory Gin as Vice President, Investor Relations and Dr. Dan Rudin as Vice President, Clinical Development, focusing on the EB-101 program. Mr. Gin brings more than 25 years of investor relations, communications, and capital markets experience with small- and mid-cap biotechnology and specialty pharmaceutical companies developing novel treatments for orphan diseases and areas of high unmet medical need. Dr. Rudin has substantial research and development experience gained in industry and academia with focus on rare diseases, including lysosomal storage diseases. He has led several programs through the lifecycle of clinical development supporting multiple product approvals.

    Dr. Siffert continued, "We look forward to working with our new Executive Chairman, Dr. Brian Pereira and Independent Board Member, Ms. Shawn Tomasello. Both bring invaluable experience guiding biotech companies from clinical development through commercial launch. In addition, with the appointments of Greg and Dan, we have strengthened our leadership in investor relations and clinical development, respectively."

    COVID-19 Impact Mitigation

    The ongoing COVID-19 pandemic has caused meaningful disruptions to the global healthcare system, including the conduct of clinical trials as healthcare institutions shift their focus and resources to  treating COVID-19 patients. In response to the unprecedented challenges related to the COVID-19 pandemic, Abeona has taken several measures to protect and support the health of its employees and their families, healthcare partners and patients participating in its clinical trials. At the same time, the Company has implemented measures to maintain continuity of its operations and to preserve financial flexibility for the future.

    First Quarter Financial Results

    Cash, cash equivalents and marketable securities as of March 31, 2020, were $116 million compared to $129 million as of December 31, 2019. The decrease in cash of $13 million was driven by R&D expenses across our programs along with supporting administrative costs.

    The net loss was $0.52 per share for the first quarter of 2020, compared to $0.39 per share in the comparable period in 2019. The increase in the net loss per share results primarily from the non-cash impairment charge on the termination of the REGENXBIO license of $32.9 million, or $0.36 per share.

    About Abeona Therapeutics
    Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company developing gene and cell therapies for serious diseases. The Company's clinical programs include EB-101, its autologous, gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, as well as ABO-102 and ABO-101, novel AAV-based gene therapies for Sanfilippo syndrome types A and B (MPS IIIA and MPS IIIB), respectively. The Company's portfolio of AAV-based gene therapies also features ABO-202 and ABO-201 for CLN1 disease and CLN3 disease, respectively. Abeona has received numerous regulatory designations from the FDA and EMA for its pipeline candidates, including Regenerative Medicine Advanced Therapy designation for two candidates (EB-101 and ABO-102). www.abeonatherapeutics.com

    Forward-Looking Statements
    This press release contains certain statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and that involve risks and uncertainties.  These statements include statements about the Company's clinical trials and its products and product candidates, future regulatory interactions with regulatory authorities, as well as the Company's goals and objectives.  We have attempted to identify forward looking statements by such terminology as "may," "will," "believe," "estimate," "expect," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances), which constitute and are intended to identify forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, numerous risks and uncertainties, including but not limited to the potential impacts of the COVID-19 pandemic on our business, operations, and financial condition, continued interest in our rare disease portfolio, our ability to enroll patients in clinical trials, the outcome of any future meetings with the U.S. Food and Drug Administration or other regulatory agencies, the impact of competition, the ability to secure licenses for any technology that may be necessary to commercialize our products, the ability to achieve or obtain necessary regulatory approvals, the impact of changes in the financial markets and global economic conditions, risks associated with data analysis and reporting, and other risks as may be detailed from time to time in the Company's Annual Reports on Form 10-K and quarterly reports on Form 10-Q and other periodic reports filed by the Company with the Securities and Exchange Commission.  The Company undertakes no obligation to revise the forward-looking statements or to update them to reflect events or circumstances occurring after the date of this presentation, whether as a result of new information, future developments or otherwise, except as required by the federal securities laws.

    Investor Contact:
    Greg Gin
    VP, Investor Relations
    Abeona Therapeutics
    +1 (646) 813-4709

    Media Contact:
    Scott Santiamo
    Director, Corporate Communications
    Abeona Therapeutics
    +1 (718) 344-5843

    Primary Logo

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  5. NEW YORK and CLEVELAND, April 21, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced it granted options to Brian Pereira, M.D., the newly-appointed Executive Chairman of the Company, to purchase 930,000 shares of Abeona common stock. The stock options have a $2.50 exercise price per share, which is equal to the closing price of Abeona's common stock on the grant date. The options were offered as a material inducement to Dr. Pereira's appointment as Executive Chairman.

    The options were granted outside of the Company's 2015 Equity Incentive Plan but will have terms and conditions consistent with those set forth in that plan. The options were approved by the Abeona…

    NEW YORK and CLEVELAND, April 21, 2020 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (NASDAQ:ABEO), a fully-integrated leader in gene and cell therapy, today announced it granted options to Brian Pereira, M.D., the newly-appointed Executive Chairman of the Company, to purchase 930,000 shares of Abeona common stock. The stock options have a $2.50 exercise price per share, which is equal to the closing price of Abeona's common stock on the grant date. The options were offered as a material inducement to Dr. Pereira's appointment as Executive Chairman.

    The options were granted outside of the Company's 2015 Equity Incentive Plan but will have terms and conditions consistent with those set forth in that plan. The options were approved by the Abeona Compensation Committee of the Board of Directors in reliance on the employment inducement exception under Nasdaq Listing Rule 5635(c)(4), which requires that grants relying on this exception be disclosed promptly in a press release.

    The options have a 10-year term and will vest 25% on the one-year anniversary of the grant date and in equal monthly installments over the following three years. Additionally, 100% of the options will be accelerated in the event of certain qualifying terminations of Dr. Pereira's relationship following a change of control of the Company.

    About Abeona Therapeutics
    Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company developing gene and cell therapies for serious diseases. The Company's clinical programs include EB-101, its autologous, gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, as well as ABO-102 and ABO-101, novel AAV9-based gene therapies for Sanfilippo syndrome types A and B (MPS IIIA and MPS IIIB), respectively. The Company's portfolio of AAV9-based gene therapies also features ABO-202 and ABO-201 for CLN1 disease and CLN3 disease, respectively. Abeona has received numerous regulatory designations from the FDA and EMA for its pipeline candidates, including Regenerative Medicine Advanced Therapy designation for two candidates (EB-101 and ABO-102). www.abeonatherapeutics.com

    Media Contact:
    Scott Santiamo
    Director, Corporate Communications
    Abeona Therapeutics Inc.
    +1 (718) 344-5843

    Investor Contact:
    Dan Ferry
    LifeSci Advisors, LLC
    +1 (617) 535-7746

    Primary Logo

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