Abeona Therapeutics — Third Quarter 2026 Earnings Summary

Financial Performance:

• Net ZEVASKYN product revenue was $13.5 million for the quarter ended September 30, 2026, an 18% increase compared to $11.4 million in the second quarter of 2026.
• Total revenues were $13.5 million for the quarter, compared to $0 in the same period in 2025.
• Cost of sales was $5.7 million for the quarter, up from $4.2 million in the second quarter of 2026 and $0.5 million in the same period in 2025.
• Research and development expenses were $3.7 million for the quarter, down from $5.0 million in the second quarter of 2026 and $4.2 million in the same period in 2025.
• Selling, general and administrative expenses were $17.1 million for the quarter, up from $15.8 million in the second quarter of 2026 and $19.3 million in the same period in 2025.
• Net loss was $(4.8) million, or $(0.08) per basic and diluted share, for the quarter, compared to a net loss of $(20.2) million, or $(0.35) per share, in the second quarter of 2026.
• Cash, cash equivalents, and short-term investments totaled $134.9 million as of September 30, 2026, down from $146.8 million as of June 30, 2026.
• Total assets were $171.9 million as of September 30, 2026, compared to $219.6 million as of December 31, 2025.
• Total liabilities were $46.0 million as of September 30, 2026, compared to $60.4 million as of December 31, 2025.
• Total stockholders' equity was $125.9 million as of September 30, 2026, compared to $159.2 million as of December 31, 2025.
• Interest income was $2.3 million for the quarter, up from $1.7 million in the same period in 2025.
• Change in fair value of warrant liabilities resulted in a gain of $6.5 million for the quarter, compared to a gain of $2.8 million in the same period in 2025.

Business Segments and Product Lines:

• ZEVASKYN treatment activity increased in the third quarter, with 15 total treatments completed since launch, including six during Q3 2026.
• The Qualified Treatment Center (QTC) network expanded to eight sites; four centers have now completed patient treatments.
• Children's Hospital of Philadelphia and the University of Texas Medical Branch completed their first ZEVASKYN treatments in Q3 2026.
• University of Florida Health in Gainesville was activated as the eighth QTC in September 2026.
• Cincinnati Children's was activated as a ZEVASKYN QTC in July 2026.
• ZEVASKYN New Technology Add-On Payment (NTAP) status became effective October 1, 2026, providing supplemental reimbursement for eligible Medicare beneficiaries.
• The company acquired APT-1011 (renamed ABO-801), a Phase 3-ready oral disintegrating tablet for eosinophilic esophagitis (EoE), from Ellodi Pharmaceuticals.
• The ABO-801 acquisition involved issuing $20 million in common stock to Ellodi with no upfront cash consideration.
• Ellodi is eligible for $30 million in FDA approval payments, up to $30 million in sales milestone payments, and tiered royalties on net sales ranging from low to mid teen percentages.
• Ultragenyx received FDA approval for FAYUVI (rebisufligene etisparvovec-hopf) for Sanfilippo Syndrome Type A; Abeona is eligible for commercial milestone payments and tiered royalties up to 8% on future sales.

Other Key Points:

• The company announced a $30 million private placement (PIPE) financing completed after the quarter ended September 30, 2026.
• Proceeds from the private placement are intended for general corporate purposes, including pipeline development and ZEVASKYN commercialization support.
• Revenue for one ZEVASKYN treatment in the third quarter was not recognized because the associated batch failed the identity assay release criterion.
• The September 30, 2026 cash balance excludes the $30 million gross proceeds from the post-quarter-end private placement.
• The company will host a conference call on November 9, 2026, to discuss results and the acquisition of ABO-801.
• The press release includes a standard forward-looking statement disclaimer regarding risks such as manufacturing capacity, regulatory approvals, and market acceptance.