Abeona buys EoE drug candidate APT-1011, raises $30 million as ZEVASKYN sales grow

Abeona Therapeutics Inc. reported third-quarter 2026 results on November 9, 2026 alongside two separate announcements: the acquisition of a eosinophilic esophagitis drug candidate and a private financing. The company said it acquired ABO-801, a Phase 3-ready oral disintegrating tablet form of fluticasone propionate being developed for eosinophilic esophagitis, from Ellodi Pharmaceuticals.¹ Under the asset purchase agreement, Abeona issued Ellodi $20 million of Abeona common stock at closing with no upfront cash, with Ellodi eligible for $30 million upon FDA approval, up to $30 million more tied to sales milestones, and tiered royalties in the low-to-mid teens on net sales.¹

Separately, Abeona entered a securities purchase agreement for a private placement raising $30 million in gross proceeds before fees and expenses.¹ The company said it plans to use the proceeds for general corporate purposes, including pipeline development and ZEVASKYN commercialization support.¹

On the commercial side, 15 patient treatments with ZEVASKYN have been completed since launch, including six during the third quarter of 2026.¹ The qualified treatment center network expanded to eight sites during the quarter, with Children's Hospital of Philadelphia and the University of Texas Medical Branch completing their first treatments, bringing experienced centers to four.¹ University of Florida Health in Gainesville was activated in September 2026 as the eighth site, and Cincinnati Children's, described as one of the largest U.S. epidermolysis bullosa treatment centers, was activated in July 2026.¹

New Technology Add-On Payment status for ZEVASKYN, effective October 1, 2026, creates a supplemental Medicare reimbursement pathway for eligible hospitals and is expected to help support access among Medicare beneficiaries, who represent about 10 percent of RDEB patients, the company said.¹

Net ZEVASKYN revenue was $13.5 million for the quarter, an 18% increase from $11.4 million in the second quarter of 2026.¹ Net loss narrowed to $4.8 million, or $0.08 per share, from a $20.2 million loss in the prior quarter.¹ Cash, cash equivalents and short-term investments totaled $134.9 million as of September 30, 2026, down from $146.8 million at June 30, 2026.¹

Abeona also noted that Ultragenyx, which licensed a gene therapy program from Abeona in May 2022, received FDA approval in September for FAYUVI for Sanfilippo Syndrome Type A, making Abeona eligible for milestone payments and royalties of up to 8 percent on future sales.¹