Abeona Therapeutics reported Q2 revenues of $11.4 million, falling short of analyst expectations and causing a 14% drop in its stock price. The company treated five patients with its drug Zevaskyn for recessive dystrophic epidermolysis bullosa but faced operational challenges including cancellations and manufacturing problems. Management acknowledges a steep learning curve but expects improvements as experience grows. Potential near-term catalysts include partnered programs with Ultragenyx and Taysha, which may bring milestone and royalty payments if regulatory approvals and sales targets are met. Despite early commercial hurdles, Abeona maintains a risk-on Buy rating supported by expanding treatment centers and pipeline developments.
