Abeona Closes $155 Mln PRV Sale, Strengthens Cash Position Ahead Of ZEVASKYN Launch

(RTTNews) - Abeona Therapeutics Inc. (ABEO) has completed the sale of its Rare Pediatric Disease Priority Review Voucher or PRV for gross proceeds of $155 million, finalizing the transaction on June 27, 2025.

With the proceeds from the PRV sale, the company estimates its unaudited cash, cash equivalents, restricted cash, and short-term investments totaled approximately $225 million as of June 30, 2025.

Chief Financial Officer Joe Vazzano noted that the sale marks a key milestone, securing more than two years of operating capital without requiring additional funding, even before accounting for revenue from ZEVASKYN. The company expects to begin treating the first ZEVASKYN patient in Q3 2025 and anticipates reaching profitability in early 2026.

Abeona received the PRV from the U.S. FDA in April 2025 following the approval of ZEVASKYN (prademagene zamikeracel)—the first FDA-approved autologous cell-based gene therapy for treating wounds in both adult and pediatric patients with recessive dystrophic epidermolysis bullosa.

Wednesday, ABEO closed at $5.87, up 5.39%, and is currently trading after hours at $6.00, up 2.21% on the NasdaqCM.