Abeona raises $35M in private placement; Phase 3 EB-101 trial meets endpoints

ABEONA THERAPEUTICS INC.

Gross proceeds of $35M from sale of 7.07M shares, pre-funded warrants for 0.54M shares, and common warrants for 7.61M shares.
Offering price per unit $4.60; common warrants exercisable at $4.75 per share for five years.
Phase 3 VIITAL trial for EB-101 met co-primary, secondary, and exploratory endpoints with high statistical significance.
Net proceeds plus existing resources expected to fund operations into Q3 2024.
Placement includes new and existing investors: Adage Capital, Armistice Capital, Deerfield, EcoR1, Nantahala.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ABEONA THERAPEUTICS INC. entered into Securities Purchase Agreement with a group of investors (the “Purchasers”) valued at approximately $35.0 million (effective 2022-11-03).

Action: entry
Agreement: equity purchase
Counterparty: a group of investors (the “Purchasers”)
Value: approximately $35.0 million
Effective: 2022-11-03

Exact text from the filing

Abeona Therapeutics Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with a group of investors (the “Purchasers”) providing for the private placement (the “Private Placement”) to the Purchasers of (i) 7,065,946 shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”) (ii) pre-funded warrants to purchase 543,933 shares of Common Stock with a term of five years from the issuance date (the “Pre-Funded Warrants”) and (iii) warrants to purchase 7,609,879 shares of Common Stock with a term of five years from the issuance date (the “Common Warrants” and together with the Pre-Funded Warrants, the “Warrants”), for an aggregate purchase price of approximately $35.0 million.

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ABEONA THERAPEUTICS INC. filing history →

Source: SEC EDGAR

accession 0001493152-22-030374

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