Abeona Therapeutics Reports $11.4M Revenue from ZEVASKYN, Faces $20.2M Net Loss in Q2 2026

Abeona Therapeutics Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company generated $11.4 million in product revenue from its gene therapy ZEVASKYN, marking a substantial increase from zero revenue in the same quarter of the previous year. For the first half of 2026, total revenues reached $20.1 million, compared to $400,000 in the first half of 2025. This growth is attributed to the FDA's approval of ZEVASKYN in April 2025, which allowed the company to commence sales in December 2025.

Despite the increase in revenue, Abeona reported a net loss of $20.2 million for the second quarter of 2026, a stark contrast to a net income of $108.8 million in the same quarter of 2025, which was bolstered by a one-time gain from the sale of a priority review voucher. The loss for the first half of 2026 totaled $37.3 million, compared to a profit of $96.8 million in the prior year, primarily due to the absence of the prior year's extraordinary gain and increased operational costs. Total expenses for the second quarter rose to $25 million, up from $23.2 million year-over-year, driven by costs associated with the commercialization of ZEVASKYN and increased selling, general, and administrative expenses.

Operationally, Abeona has activated Cincinnati Children’s Hospital as a new qualified treatment center for ZEVASKYN, bringing the total to seven centers. The company continues to focus on expanding its market presence and enhancing its manufacturing capabilities. As of June 30, 2026, Abeona's cash and cash equivalents stood at $56.2 million, down from $78.4 million at the end of 2025, reflecting ongoing investments in research and development and operational activities.

Looking ahead, Abeona anticipates continued losses as it invests in the commercialization of ZEVASKYN and the development of its other product candidates, including ABO-701, an engineered T-cell therapy for prostate cancer. The company has indicated that it may need to secure additional funding to support its operations and growth initiatives, which could involve issuing equity or entering into strategic partnerships. The management remains optimistic about the potential of ZEVASKYN to generate sufficient revenue to achieve profitability in the future.