Abeona shares rise 3.76% as ZEVASKYN access and royalty prospects gain attention

  • Abeona activated University of Florida Health as the eighth ZEVASKYN treatment center.
  • Abeona shares rose 3.76% to $5.80 at publication, according to Benzinga Pro.
  • Abeona licensed ABO-102 worldwide rights to Ultragenyx in 2022.

Abeona Therapeutics shares were among today's top performers, rising 3.76% to $5.80 as investors assessed developments involving its ZEVASKYN therapy and licensing portfolio. University of Florida Health in Gainesville became the eighth Qualified Treatment Center for ZEVASKYN, a gene-modified cellular sheet therapy for recessive dystrophic epidermolysis bullosa, and the sole center serving the Southeastern United States. Separately, FDA (U.S. drug regulator) approval of Ultragenyx's FAYUVI for pediatric patients with Sanfilippo syndrome Type A could generate royalty and commercial milestone payments for Abeona. Abeona licensed worldwide rights to the therapy, formerly known as ABO-102, to Ultragenyx in 2022 and is eligible for mid-single-digit royalties on sales plus up to $30 million in commercial milestone payments. The stock has a Buy consensus rating and an average price forecast of $22.00. Cantor Fitzgerald raised its target to $30.00 with an Overweight rating on September 18, while Roth Capital initiated coverage with a Buy rating and a $17.00 target on September 17.

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