Abeona Therapeutics Announces Strategic Review
September 03 2019 - 9:00AM
Abeona Therapeutics Inc. (Nasdaq: ABEO), a fully-integrated leader
in gene and cell therapy, today announced that it has retained
Jefferies LLC as its financial advisor to assist with the review of
strategic options focused on advancing the Company’s mission and
maximizing stakeholder value. In response to interest, Abeona has
initiated a process to explore a broad range of strategic
alternatives, including, but not limited to the partnering of its
various clinical and pre-clinical programs, or a sale or merger of
the Company, in an effort to unlock the potential of those
assets.
“With four clinical stage programs, a broad
pre-clinical pipeline, GMP manufacturing facilities, and a talented
team, Abeona remains committed to advancing the promise of genetic
medicine,” said João Siffert, M.D., Chief Executive Officer. “Given
our expertise in gene and cell therapy, we believe we are well
positioned to explore a variety of opportunities, pursue strategic
partnerships and alliances, improve our capital structure, and
accelerate development of candidates towards
commercialization.”
There can be no assurance this strategic review
will result in the completion of any particular course of action.
There is no defined timeline for completion of the review process
and the Company does not intend to comment further unless a
specific initiative is approved by the Board of Directors, the
review process is concluded, or it is otherwise determined that
other disclosure is appropriate.
Steven H. Rouhandeh, Chairman of the Board
commented, “Our management team and employees have developed
multiple programs that are innovative and transformative for
patients. We look to translate our assets and capabilities
into value for stakeholders and are confident that the strategic
review process will facilitate our efforts to achieve that
goal.”
About Abeona Therapeutics
Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical
company developing gene and cell therapies for serious diseases.
The Company’s clinical programs include EB-101, its autologous,
gene-corrected cell therapy for recessive dystrophic epidermolysis
bullosa, as well as ABO-102 and ABO-101, novel AAV9-based gene
therapies for Sanfilippo syndrome types A and B (MPS IIIA and MPS
IIIB), respectively. The Company’s portfolio of AAV9-based gene
therapies also features ABO-202 and ABO-201 for CLN1 disease and
CLN3 disease, respectively. Its preclinical assets include ABO-401,
which uses a novel vector from Abeona’s AIM™ AAV capsid platform to
address all mutations of cystic fibrosis. Abeona has received
numerous regulatory designations from the FDA and EMA for its
pipeline candidates, including Regenerative Medicine Advanced
Therapy designation for two candidates (EB-101 and ABO-102). For
more information, visit www.abeonatherapeutics.com.
Forward Looking Statement This press release
contains certain statements that are forward-looking within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and that involve risks and uncertainties. These statements
include statements about the ability of its management team to lead
the Company and deliver on key strategies, the market opportunities
for the Company’s products and product candidates, and the
Company’s goals and objectives. We have attempted to identify
forward looking statements by such terminology as “may,” “will,”
“anticipate,” “believe,” “estimate,” “expect,” “intend,” and
similar expressions (as well as other words or expressions
referencing future events, conditions or circumstances), which
constitute and are intended to identify forward-looking statements.
Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, numerous risks and uncertainties, including but not
limited to continued interest in our rare disease portfolio, our
ability to enroll patients in clinical trials, the impact of
competition, the ability to secure licenses for any technology that
may be necessary to commercialize our products, the ability to
achieve or obtain necessary regulatory approvals, the impact of
changes in the financial markets and global economic conditions,
risks associated with data analysis and reporting, and other risks
as may be detailed from time to time in the Company’s Annual
Reports on Form 10-K and quarterly reports on Form 10-Q and other
reports filed by the Company with the Securities and Exchange
Commission. The Company undertakes no obligation to revise
the forward-looking statements or to update them to reflect events
or circumstances occurring after the date of this presentation,
whether as a result of new information, future developments or
otherwise, except as required by the federal securities laws.
Investor Contact:Sofia Warner Senior Director,
Investor Relations Abeona Therapeutics +1 (646) 813-4710
swarner@abeonatherapeutics.com
Media Contact:Scott Santiamo Director,
Corporate Communications Abeona Therapeutics +1 (718) 344-5843
ssantiamo@abeonatherapeutics.com
Abeona Therapeutics (NASDAQ:ABEO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Abeona Therapeutics (NASDAQ:ABEO)
Historical Stock Chart
From Apr 2023 to Apr 2024