Abeona Therapeutics (ABEO) Q1 2026 earnings summary

Executive summary

• Achieved $8.7 million in net product revenue for Q1 2026, driven by ZEVASKYN adoption and expanded access through six Qualified Treatment Centers, with three patients treated in Q1 2026 and over 100 potential candidates identified.

• Secured 95% commercial insurance coverage for ZEVASKYN, with no patient attrition or payer denials to date.

• Advanced pipeline with in-licensing of PSMA-targeted CAR-T/T-cell therapy (ABO-701/PSMA SIR-T™) for advanced prostate cancer, including a $7 million upfront payment and IND filing targeted for H2 2027.

• Deprioritized in-house ophthalmology programs to focus on high-value cell and gene therapies and oncology.

• Published long-term safety and efficacy data for ZEVASKYN, including five-year and 12-year follow-up results.

Financial highlights

• Q1 2026 net product revenue was $8.7 million, up from $2.4 million in Q4 2025 and $0 in Q1 2025.

• Cost of sales for Q1 2026 was $2.7 million, up from $1 million in Q4 2025.

• R&D expenses were $9.6 million, including a $7 million upfront payment for the PSMA CAR-T asset.

• SG&A expenses rose to $19.5 million, up $9.7 million year-over-year.

• Net loss for Q1 2026 was $17.1 million ($0.30 per share), compared to $12 million ($0.24 per share) in Q1 2025.

• Cash, equivalents, and short-term investments totaled $168.3 million at quarter-end.

Outlook and guidance

• Sufficient liquidity to fund operations for at least the next 12 months; may seek additional capital for further development.

• IND filing and first-in-human studies for PSMA CAR-T/ABO-701 expected in the second half of 2027.

• Anticipates achieving monthly profitability as early as June 2026, depending on biopsy and treatment cadence.

• Plans to onboard a total of seven QTCs in 2026, with potential to reach 9-10 centers as capacity and demand grow.

• Continued focus on commercializing ZEVASKYN and expanding its market reach.