Abeona Therapeutics Inc. is a biopharmaceutical company in the clinical development stage, focused on creating innovative gene and cell therapies to address ...
Abeona Therapeutics Inc. (Nasdaq: ABEO) is a commercial-stage biopharmaceutical company headquartered in Cleveland, Ohio, with a focus on developing and delivering gene and cell therapies for serious and rare genetic diseases. Founded in 1974 and previously known as PlasmaTech Biopharmaceuticals, the company rebranded in June 2015. Under the leadership of ...Abeona Therapeutics Inc. (Nasdaq: ABEO) is a commercial-stage biopharmaceutical company headquartered in Cleveland, Ohio, with a focus on developing and delivering gene and cell therapies for serious and rare genetic diseases. Founded in 1974 and previously known as PlasmaTech Biopharmaceuticals, the company rebranded in June 2015. Under the leadership of CEO Vishwas Seshadri, who has over 20 years of experience in the biopharmaceutical industry, Abeona has advanced a robust pipeline. The company's primary product, ZEVASKYN® (prademagene zamikeracel), received FDA approval in April 2025 and is the first approved treatment for recessive dystrophic epidermolysis bullosa (RDEB), a severe and debilitating skin disease. This autologous gene-corrected cell therapy marks a significant milestone for the company and patients.
Beyond ZEVASKYN, Abeona is actively developing additional therapies: ABO-102, an AAV-based gene therapy for Sanfilippo syndrome type A; ABO-201 for CLN3 disease; ABO-401 for cystic fibrosis; and ABO-50X for various genetic eye disorders. These programs leverage the company's proprietary AIM vector platform, which enhances the delivery and efficacy of gene therapies. As of the latest data, the company has 226 employees, reflecting a significant increase of 66% from the previous year, indicating scaling of operations for commercial launch. Financially, Abeona reported a market capitalization of approximately $412 million, with a price-to-sales ratio of 28.38 and a price-to-book ratio of 2.828. The company's revenue per share is $0.257, and it has a negative operating cash flow, typical for a commercial-stage biotech investing heavily in R&D and commercialization. The company's focus on high unmet medical needs, combined with its approved product and promising pipeline, positions it as a notable player in the cell and gene therapy space.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$5.8M
—
+30.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$71.2M
+211.7%
-18.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+73.7%
—
+7.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-1536.9%
—
+54.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+1223.1%
—
+9.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-84.3M
-44.2%
+13.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-1448.5%
—
+33.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
15.7%
-70.0%
-2.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
6.93x
+14.0%
+12.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning, everyone, and welcome to Abeona Therapeutics 2Q 2026 Conference Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to your host, Gregory Gin, Vice President, Investor Relations and Corporate Development. Greg, the floor is yours.
Gregory Gin: Thank you, Jenny. Good morning, and thank you, everyone, for joining us on our second quarter 2026 results conference call. During this call, we will refer to the press release issued this morning announcing the financial results. It's available on our corporate website at www.abeonatherapeutics.com. Joining me on today's call are Dr. Vish Seshadri, Chief Executive Officer; Dr. Madhav Vasanthavada, Chief Commercial Officer; Joe Vazzano, Chief Financial Officer; and Dr. Brian Kevany, Chief Technical Officer. We anticipate making projections and forward-looking statements during today's call, which are made pursuant to the safe harbor provisions of the federal securities laws. These forward-looking statements are based on current expectations and are subject to change. Actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those outlined in our Form 10-K and periodic reports filed with the Securities and Exchange Commission. These documents are available on our website at www.abeonatherapeutics.com. And with that, I will now turn the call over to Vish Seshadri to please start. Vish?
Vishwas Seshadri: Thank you, Greg, and good morning, everyone. I'll begin today with an overview of our commercial progress before turning the call over to Madhav for operational details. Our commercial experience to date reinforces our confidence in ZEVASKYN's substantial commercial opportunity. During the second quarter, we advanced our rollout by expanding our qualified treatment center network and progressing more patients through the treatment pathway. With the recent addition of Cincinnati Children's, which is one of the largest epidermolysis bullosa treatment centers in the country, we now have 7 activated QTCs nationwide. Importantly, CHOP and UTMB are biopsying patients and CHOP has completed its first treatment. We have treated 12 patients since launch, including 5 in the second quarter of 2026 and 3 additional patients in the third quarter to date. As Madhav will discuss further, a couple of these treatments did not generate revenue. As our commercial footprint expands, we're refining how we report progress to the investment community. Over the past quarter, we have seen that leading indicators such as scheduled biopsies or biopsies in manufacturing are subject to external variables outside our control and have limited utility in predicting revenue-generating treatments. Later on the call, Joe will outline the specific reporting updates we're making to eliminate this uncertainty and to align with standard practices of commercial stage …