Abeona Shares Fall on Swing to 2Q Loss, Lower-than-Expected Revenue
Dow Jones
Aug 13
Shares of Abeona Therapeutics fell after the company swung to a loss and logged lower-than-expected revenues during the latest quarter.
The stock declined 16%, to $6.28, in premarket trading Thursday. Through Wednesday's close, shares are up more than 40% year to date.
The company before the bell swung to a second-quarter loss of $20.2 million from a profit of $108.8 million a year earlier. The year-ago quarter included a more than $152 million benefit from the sale of a priority review voucher.
A quarterly loss of 35 cents a share was steeper than the 23-cents-a-share loss that analysts polled by FactSet expected.
Total revenues jumped to $11.4 million from $400,000, but came in below Wall Street views for $12.2 million.
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