By Emon Reiser

Shares of Abeona Therapeutics were on the rise after the biotechnology company narrowed its quarterly loss and reported an uptick in patient demand for Zevaskyn, its gene therapy for wound treatment.

The stock soared 22% to $5.12 a share in midday trading. Despite the intraday gains, shares remain down 9% year to date.

"Based on trends in patient demand, treatment-center expansion and market access, we're seeing growing patient demand for Zevaskyn," Abeona executives said on a call with analysts Wednesday. "Despite the temporary delay in the first patient treatment, we are well positioned for our launch success in 2026."

Food and Drug Administration-approved Zevaskyn is an autologous cell sheet-based gene therapy for the treatment of wounds in patients with recessive dystrophic epidermolysis bullosa, a rare skin disease. Abeona touts the treatment as the first of its kind.

The number of identified eligible patients at qualified treatment centers who are motivated to initiate the treatment process has more than doubled to about 30 patients, up from 12, executives said.

Abeona on Wednesday reported a net loss of $5.16 million, or 10 cents a share, for the quarter ended Sept. 30, compared with a loss of $30.3 million, or 63 cents a share, in the year-earlier period. Analysts polled by FactSet expected a loss of 28 cents a share.

The Cleveland company said its cash, cash equivalents, restricted cash and short-term investments totaled $207.5 million at the end of its third quarter, which it says is enough to fund operations for over two years.

Write to Emon Reiser at emon.reiser@wsj.com

(END) Dow Jones Newswires

November 12, 2025 14:16 ET (19:16 GMT)

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