Abeona Q3 net loss narrows to $5.2M; ZEVASKYN first treatment delayed to Q4 2025

ABEONA THERAPEUTICS INC.

2025-Q3 EPS reported $1.35 vs consensus -$0.30 ▲ beat (+556.4%)

Net loss of $5.2M ($0.10/sh) vs $30.3M ($0.63/sh) in Q3 2024; R&D expense fell to $4.2M, SG&A rose to $19.3M on commercial launch.
Cash $207.5M at Sep 30, expected to fund operations over two years without ZEVASKYN revenue.
First ZEVASKYN patient treatment shifted to Q4 2025 after sterility assay false positive; biopsy collection resumed Nov 2025.
Patient demand growing: 30 eligible patients identified at two QTCs; 12 product order forms received; three centers activated.
Major commercial payers covering ~60% of RDEB patients; CMS J-code effective Jan 1, 2026; ABO-503 accepted into FDA RDEA program.

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