ABEONA THERAPEUTICS INC.

Listed Company

ABEOCIK 0000318306NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$5.82M

Net Income

$71.18M

Total Assets

$219.57M

Equity

$159.22M

Shares Out

57.05M

Op. Cash Flow

$-76.33M

Business

Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company developing cell and gene therapies for life‑threatening and rare genetic diseases. It primarily develops autologous, gene‑corrected epidermal sheet therapy pz‑cel for RDEB and AAV‑based in‑vivo gene therapies for ophthalmic and other indications using its AIM™ capsid technology. Key business activities include late‑stage clinical development, proprietary AAV capsid research, and commercial‑scale cGMP manufacturing for cell and gene therapy products. The company works with academic partners, biotech collaborators, treatment centers and third‑party vendors to reach U.S., European and global regulatory and clinical markets.

Summary from filing dated 2025-03-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	6	—	4	1	3
Cost of sales	2	—	—	—	—
Royalties	2	—	2	450,000	—
Research and development	27	34	31	29	39
Selling, general and administrative	65	30	—	—	—
Total costs and expenses	95	64	—	—	—
Loss from operations	−89	−64	−47	−51	−90
Interest income	6	4	2	431,000	40,000
Interest expense	−4	−4	−418,000	−736,000	−4
Change in fair value of warrant and derivative liabilities	6	−755,000	−12	11	—
Gain from sale of priority review voucher, net	152	—	—	—	—
Other income, net	410,000	1	3	141,000	—
Income (loss) before income taxes	71	−64	—	—	—
Income tax (benefit) expense	100,000	—	—	—	—
Net income (loss)	71	−64	−54	−40	−85
Basic income (loss) per common share	1.34	−1.55	−2.53	−5.53	−21.57
Dilutive income (loss) per common share	1.01	−1.55	−2.53	−5.53	—
Basic	53	41	21	8	4
Dilutive	66	41	21	8	—
Change in unrealized gains related to available-for-sale debt securities	130,000	74,000	34,000	−99,000	9,000
Comprehensive income (loss)	71	−64	−54	−44	−85

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	78	23	14	14	33
Short-term investments	113	74	38	38	12
Restricted cash	—	338,000	338,000	338,000	6
Accounts receivable, net	6	—	—	—	3
Inventory	5	—	—	—	—
Other receivables	568,000	2	2	188,000	—
Prepaid expenses and other current assets	1	1	729,000	424,000	2
Total current assets	205	101	56	53	56
Property and equipment, net	10	4	4	6	12
Operating lease right-of-use assets	4	4	4	5	9
Other assets	781,000	96,000	277,000	43,000	—
Total assets	220	109	64	64	80
Accounts payable	8	3	2	2	4
Accrued expenses	8	6	6	4	6
Current portion of long-term debt	12	6	—	—	—
Current portion of operating lease liability	864,000	823,000	998,000	2	2
Accrued taxes	126,000	—	—	—	—
Other current liabilities	2,000	64,000	1,000	204,000	296,000
Total current liabilities	30	17	13	8	17
Long-term operating lease liabilities	4	3	4	6	8
Long-term debt	8	13	—	—	—
Warrant liabilities	19	32	—	—	—
Total liabilities	60	65	49	37	37
Commitments and contingencies	—	—	—	—	—
Preferred stock - $0.01 par value; authorized 2,000,000 shares; No shares issued and outstanding as of December 31, 2025 and 2024, respectively	—	—	—	—	—
Common stock - $0.01 par value; authorized 200,000,000 shares; 55,043,413 and 45,644,091 shares issued and outstanding as of December 31, 2025 and 2024, respectively	550,000	457,000	265,000	177,000	1
Additional paid-in capital	901	857	764	722	697
Accumulated deficit	−742	−813	−750	−695	−656
Accumulated other comprehensive loss	138,000	8,000	−66,000	−129,000	−27,000
Total stockholders equity	159	44	15	27	42
Total liabilities and stockholders equity	220	109	64	64	80

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	3	2	2	3	3
Stock-based compensation expense	11	7	5	3	—
Accretion and interest on short-term investments	889,000	276,000	−93,000	−380,000	122,000
Amortization of right-of-use lease assets	1	903,000	910,000	1	1
Non-cash interest	1	2	417,000	—	—
Gain on disposal of property and equipment	—	−2,000	47,000	100,000	—
Gain from sale of priority review voucher	−152	—	—	—	—
Accounts receivable	−6	—	—	3	−3
Inventory	−5	—	—	—	—
Other receivables	1	792,000	−2	−188,000	—
Prepaid expenses and other current assets	−151,000	−564,000	−155,000	2	331,000
Other assets	−685,000	181,000	−234,000	125,000	−7,000
Accounts payable and accrued expenses	7	2	2	−4	825,000
Accrued taxes	126,000	—	—	—	—
Lease liabilities	−576,000	−1	−1	−1	—
Change in payable to licensor	—	−5	—	−5	−16
Other current liabilities	−85,000	16,000	−203,000	−292,000	—
Net cash used in operating activities	−76	−56	−37	−43	−66
Proceeds from sale of priority review voucher, net of transaction costs of $2.6 million	152	—	—	—	—
Capital expenditures	−8	−2	−331,000	−130,000	−4
Proceeds from disposal of property and equipment	—	18,000	204,000	2	—
Purchases of short-term investments	−207	−157	−52	−78	−20
Proceeds from maturities of short-term investments	167	120	52	53	90
Net cash provided by (used in) investing activities	105	−39	208,000	−24	66
Proceeds from ATM sales of common stock, net of issuance costs	17	15	14	13	8
Payments related to net settlement of restricted share awards	−37,000	−526,000	−182,000	−5,000	—
Proceeds from underwritten sales of common stock, net of issuance costs	—	70	—	—	—
Proceeds from exercise of warrants	9	—	—	—	—
Proceeds from issuance of long-term debt	—	20	—	—	—
Payment of debt issuance costs	—	−963,000	−150,000	—	—
Net cash provided by financing activities	26	104	37	43	25
Net increase in cash, cash equivalents and restricted cash	55	9	256,000	−24	25
Right-of-use asset obtained in exchange for new operating lease liabilities	1	—	419,000	—	—
Derivative and warrant additions associated with loan and security agreement	80,000	1	—	—	—
Reclassification of derivative and warrant liability to equity	7	1	—	—	—
Changes in accrued property and equipment	−406,000	471,000	—	—	—
Cash paid for interest	3	3	—	—	—
Cash paid for taxes	—	7,000	14,000	—	—

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