Form 8-K
8-K — ABEONA THERAPEUTICS INC.
Accession: 0001493152-26-022610
Filed: 2026-05-13
Period: 2026-05-13
CIK: 0000318306
SIC: 2834 (PHARMACEUTICAL PREPARATIONS)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — form8-k.htm (Primary)
EX-99.1 (ex99-1.htm)
EX-99.2 (ex99-2.htm)
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of report (Date of earliest event reported): May 13, 2026
ABEONA
THERAPEUTICS INC.
(Exact
name of registrant as specified in its charter)
Delaware
001-15771
83-0221517
(State
or other jurisdiction
(Commission
(I.R.S.
Employer
of
incorporation)
File
Number)
Identification
No.)
6555
Carnegie Ave, 4th Floor
Cleveland,
OH 44103
(Address
of principal executive offices) (Zip Code)
(646)
813-4701
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d 2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class
Trading
Symbol
Name
of each exchange on which registered
Common
Stock, $0.01 par value
ABEO
The
Nasdaq Capital Market
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
2.02. Results of Operations and Financial Condition.
On
May 13, 2026, Abeona Therapeutics Inc. (the “Company”) issued a press release regarding its financial results for the quarter
ended March 31, 2026. On the same date, the Company posted on its investor relations website, located at investors.abeonatherapeutics.com,
a presentation that will be used by management during the Company’s earnings conference call (the “Earnings Presentation”).
A copy of the press release and the Earnings Presentation are furnished herewith as Exhibits 99.1 and 99.2, respectively, and are incorporated
into this Item 2.02 by reference.
The
information in Item 2.02 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 attached hereto and incorporated
herein, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly
set forth by specific reference in such a filing.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
No.
Description
99.1
Press release dated May 13, 2026
99.2
Abeona Therapeutics Inc. Presentation, dated May 13, 2026, entitled “Q1 2026 Results and Pipeline Update”
104
Cover
Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Abeona
Therapeutics Inc.
(Registrant)
By:
/s/
Joseph Vazzano
Name:
Joseph
Vazzano
Title:
Chief
Financial Officer
Date:
May 13, 2026
EX-99.1
EX-99.1
Filename: ex99-1.htm · Sequence: 2
Exhibit 99.1
Abeona
Therapeutics® Reports First Quarter 2026 Results
and
Provides Pipeline Update
-
Three patients treated with ZEVASKYN® in Q1 2026 -
-QTC
network expands to six sites, with two new additions on the East Coast -
-
In-licensed radically novel engineered T-cell technology with game changing potential in the field of solid tumors; ophthalmology programs
deprioritized -
-
$168.3M in cash, cash equivalents and short-term investments as of March 31, 2026 –
-
Webcast today at 8:30am ET -
CLEVELAND,
May 13, 2026 – Abeona Therapeutics Inc. (Nasdaq: ABEO) today reported financial results for the first quarter of 2026, highlighting
commercial momentum for ZEVASKYN.
● Steady
increase in ZEVASKYN adoption with three patients completing treatment in the first quarter
of 2026, one treatment to date in the second quarter, one biopsy currently in manufacturing
process, and six additional patients expected to be biopsied in the second quarter, three
of whom have biopsies scheduled.
● Qualified
treatment center (QTC) network expands to six sites with the activation of New York-Presbyterian
/ Columbia University Irving Medical Center in New York, NY and Children’s Hospital
of Philadelphia (CHOP).
● Patient
access to ZEVASKYN continues to grow with published coverage policies now in place for
95% of commercially insured U.S. lives.
● Data
presentation at SID2026 on sustained wound healing and long-term safety after one-time pz-cel
application: 12-year case report and 5-year Phase 3 data
“We
are excited that an increasing number of patients at our QTCs are getting scheduled for ZEVASKYN slots this quarter,” said Vish
Seshadri, PhD, President and CEO of Abeona Therapeutics. “We’re encouraged by the recent acceleration of onboarding efforts
of QTCs to activate, so they can begin to treat patients with ZEVASKYN.”
Pipeline
Update
Building
on its proven end-to-end competency in engineered cell therapy, Abeona will focus its development efforts on ABO-701, a recently licensed
radically novel engineered T-cell therapy targeting Prostate-Specific Membrane Antigen (PSMA). PSMA is a validated target for advanced
prostate cancer, which is a leading cause of cancer mortality, with more than 30,000 deaths annually in the U.S. despite multiple approved
therapies and recent advances in the field.
ABO-701
is an autologous engineered T-cell therapy that carries a Synthetic Immune Receptor (SIR-T™) designed to overcome the limitations
of CAR and TCR approaches. The SIR-T™ platform underlying ABO-701 was developed by Preet M. Chaudhary, M.D., Ph.D., Professor of
Medicine and Chief of Jane Ann Nohl Division of Hematology and Center for the Study of Blood Diseases at University of Southern California
(USC) Keck School of Medicine and Director of USC Blood and Marrow Transplant and Cell Therapy Program. The patents covering the SIR-T™
platform are owned by Angeles Therapeutics, Inc. In pre-clinical studies, ABO-701 has demonstrated durable tumor control in mouse models
and modest levels of cytokine release – a profile that has been elusive to other engineered cell therapies in the solid tumors.
Abeona
expects to file an Investigational New Drug (IND) application and commence first-in-human studies with ABO-701 in the second half of
2027 while engaging a contract development and manufacturing organization for supply readiness in the meantime. This development plan
and timing allow the Company to maintain its focus on commercializing ZEVASKYN.
As
part of the Company’s portfolio optimization, Abeona has deprioritized its in-house ophthalmology programs.
First
Quarter 2026 Financial Results
Abeona
reported net product revenue of $8.7 million in the first quarter ending March 31, 2026. This represents a quarter-over-quarter increase
in net product revenue of $6.3 million compared to $2.4 million in the fourth quarter of 2025.
Cost
of sales for the first quarter of 2026 was $2.7 million, primarily driven by scaling of commercial ZEVASKYN. This represents a quarter-over-quarter
increase in cost of sales of $1.7 million compared to $1.0 million in the fourth quarter of 2025, reflecting three patient treatments
in the first quarter of 2026 versus one patient treatment in the prior quarter.
Total
research and development (R&D) expenses were $9.6 million for the first quarter of 2026 compared to $9.9 million in the first quarter
of 2025. The first quarter of 2026 includes a single up-front payment of $7.0 million for in-licensing of the PSMA-SIR-T™ asset,
now ABO-701. Excluding this transaction, R&D spending decreased by $7.4 million. The reduction in expenses was primarily due to costs
capitalized into inventory and engineering runs and other production costs that are no longer considered research and development due
to FDA approval of ZEVASKYN in April of 2025.
Selling,
general and administrative (SG&A) expenses for the first quarter of 2026 were $19.5 million, a $9.7 million increase over the first
quarter of 2025. This increase primarily reflects Abeona’s commercial transition following the April 2025 FDA approval of ZEVASKYN,
including $5.4 million in personnel and stock-based compensation, $1.9 million of certain engineering and training expenses previously
classified as R&D that were transitioned to SG&A post-approval, and the remainder due to other commercial costs related to ZEVASKYN.
Net
loss was $(17.1) million for the quarter ending March 31, 2026, or $(0.30) per basic and diluted common share. Net loss for the first
quarter of 2025 was $(12.0) million, or $(0.24) per basic and diluted common share.
Cash,
cash equivalents and short-term investments totaled $168.3 million as of March 31, 2026, compared to $191.4 million as of December 31,
2025.
Conference
Call Details
The
Company will host a conference call and webcast on Wednesday, May 13, 2026, at 8:30 a.m. ET to discuss its financial results and corporate
progress. To access the call, dial 888-506-0062 (U.S. toll-free or, 973-528-0011 (international) and Entry Code: 305519 five minutes
prior to the start of the call. A live, listen-only webcast with slides can be accessed on the Investors & Media section of Abeona’s
website at https://investors.abeonatherapeutics.com/events. An archived webcast replay will be available for 30 days following the call.
About
Abeona Therapeutics
Abeona
Therapeutics Inc. is a commercial-stage biopharmaceutical company developing cell and gene therapies for serious diseases. Abeona’s
ZEVASKYN® (prademagene zamikeracel) is the first and only autologous cell-based gene therapy for the treatment of wounds
in adults and pediatric patients with recessive dystrophic epidermolysis bullosa (RDEB). The Company’s fully integrated cell and
gene therapy cGMP manufacturing facility in Cleveland, Ohio serves as the manufacturing site for ZEVASKYN commercial production. The
Company’s development portfolio features ABO-701 (PSMA-SIR-T™), a potentially first-in-class engineered T-cell therapy targeting
PSMA, engineered to overcome the core failures of cell therapies in solid tumors. For more information, visit www.abeonatherapeutics.com.
ZEVASKYN®,
Abeona Assist™, Abeona Therapeutics®, and their related logos are trademarks of Abeona Therapeutics Inc.
About
Prostate Cancer
Prostate
cancer is the most frequently diagnosed malignancy in men in the United States and remains a leading cause of cancer-related mortality.
Most prostate cancer-related deaths are due to advanced disease, and high-grade localized disease almost inevitably progresses to advanced
prostate cancer. Despite advances in androgen receptor pathway inhibitors, chemotherapy, and radioligand therapies, patients with advanced
prostate cancer survive for a median of less than 2 years from starting therapy in the metastatic setting, underscoring the need for
novel therapeutic strategies.
About
Angeles Therapeutics
Angeles
Therapeutics was founded by Preet M. Chaudhary, M.D., Ph.D. For inquiries regarding the SIR-T™ platform, please contact Angeles
Therapeutics at info@angelestherapeutics.com or visit www.angelestherapeutics.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. We have attempted
to identify forward-looking statements by such terminology as “may,” “will,” “believe,” “anticipate,”
“expect,” “intend,” “potential,” and similar words and 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, our ability to successfully commercialize and market ZEVASKYN, including manufacturing
sufficient batches of ZEVASKYN to meet demand; the therapeutic potential of ZEVASKYN; whether the unmet need and market opportunity for
ZEVASKYN are consistent with the Company’s expectations; continued interest in our portfolio; our ability to submit an investigational
new drug application for ABO-701 and enroll patients in clinical trials; the outcome of future meetings with and inspections by the FDA
or other regulatory agencies, including those relating to preclinical programs and to the cGMP manufacturing of ZEVASKYN; the ability
to achieve or obtain necessary regulatory approvals for our pre-clinical programs; our ability to execute on our key business priorities;
the impact of any changes in the financial markets and global economic conditions, including those resulting from changes to U.S. or
other countries’ trade policy, such as current or future tariffs; risks associated with data analysis and reporting; and other
risks disclosed in the Company’s most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities
and Exchange Commission. The Company undertakes no obligation to revise these forward-looking statements or to update them to reflect
events or circumstances occurring after the date of this press release, whether as a result of new information, future developments or
otherwise, except as required by the federal securities laws.
Contacts:
Investor
and Media
Abeona
Therapeutics
ir@abeonatherapeutics.com
Investor
Lee
M. Stern
Meru
Advisors
lstern@meruadvisors.com
Abeona
Therapeutics Inc. and Subsidiaries
Condensed
Consolidated Statements of Operations and Comprehensive Loss
($
in thousands, except share and per share amounts)
(Unaudited)
For the three months ended March 31,
2026
2025
Revenues:
Product revenue, net
$ 8,720
$ —
Costs and expenses:
Cost of sales
2,696
—
Research and development
9,555
9,941
Selling, general and administrative
19,502
9,786
Total costs and expenses
31,753
19,727
Loss from operations
(23,033 )
(19,727 )
Interest income
1,354
1,310
Interest expense
(830 )
(998 )
Change in fair value of warrant liabilities
5,386
7,245
Other income, net
50
141
Loss before income taxes
(17,073 )
(12,029 )
Income tax expense
2
—
Net loss
$ (17,075 )
$ (12,029 )
Basic and dilutive loss per common share
$ (0.30 )
$ (0.24 )
Weighted average number of common shares outstanding - basic and diluted
56,620,920
49,778,801
Other comprehensive loss:
Change in unrealized losses related to available-for-sale debt securities
(159 )
(75 )
Comprehensive loss
$ (17,234 )
$ (12,104 )
Abeona
Therapeutics Inc. and Subsidiaries
Condensed
Consolidated Balance Sheets
($
in thousands, except share and per share amounts)
(Unaudited)
March 31, 2026
December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents
$ 61,374
$ 78,437
Short-term investments
106,897
112,967
Accounts receivable, net
6,200
6,147
Inventory
6,054
5,493
Other receivables
509
568
Prepaid expenses and other current assets
1,951
1,294
Total current assets
182,985
204,906
Property and equipment, net
10,564
9,921
Operating lease right-of-use assets
4,118
3,962
Other assets
827
781
Total assets
$ 198,494
$ 219,570
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$ 4,071
$ 7,889
Accrued expenses
5,368
8,467
Current portion of long-term debt
13,333
12,222
Current portion of operating lease liability
1,272
864
Payable to licensor
7,000
—
Accrued taxes and other current liabilities
2
128
Total current liabilities
31,046
29,570
Long-term operating lease liabilities
3,814
4,069
Long-term debt
4,754
7,813
Deferred revenue
425
—
Warrant liabilities
13,516
18,902
Total liabilities
53,555
60,354
Commitments and contingencies
Stockholders’ equity:
Preferred stock - $0.01 par value; authorized 2,000,000 shares; No shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively
—
—
Common stock - $0.01 par value; authorized 200,000,000 shares; 56,866,381 and 55,043,413 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively
568
550
Additional paid-in capital
903,542
900,603
Accumulated deficit
(759,150 )
(742,075 )
Accumulated other comprehensive (loss) income
(21 )
138
Total stockholders’ equity
144,939
159,216
Total liabilities and stockholders’ equity
$ 198,494
$ 219,570
EX-99.2
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v3.26.1
Cover
May 13, 2026
Cover [Abstract]
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Entity File Number
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Entity Registrant Name
ABEONA
THERAPEUTICS INC.
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DE
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Carnegie Ave
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Local phone number for entity.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
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Title of a 12(b) registered security.
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Name of the Exchange on which a security is registered.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
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Trading symbol of an instrument as listed on an exchange.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
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