Abeona Therapeutics Regains Compliance with Nasdaq Listing Requirements
July 20 2022 - 7:30AM
Abeona Therapeutics Inc. (Nasdaq: ABEO) today announced that it
received notice from The Nasdaq Stock Market LLC (Nasdaq) on July
19, 2022 informing Abeona that it has regained compliance with the
minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2)
(the “Rule”) for continued listing on The Nasdaq Capital Market. In
order to regain compliance with the Rule, the Company’s common
stock was required to maintain a minimum closing bid price of $1.00
or more for at least 10 consecutive trading days. That requirement
was met on July 18, 2022.
About Abeona Therapeutics
Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical
company developing cell and gene therapies for serious diseases.
Abeona’s lead clinical program is EB-101, its investigational
autologous, gene-corrected cell therapy for recessive dystrophic
epidermolysis bullosa in Phase 3 development. The Company’s
development portfolio also features AAV-based gene therapies for
ophthalmic diseases with high unmet medical need. Abeona’s novel,
next-generation AAV capsids are being evaluated to improve tropism
profiles for a variety of devastating diseases. Abeona’s fully
integrated cell and gene therapy cGMP manufacturing facility
produces EB-101 for the pivotal Phase 3 VIITAL™ study and is
capable of clinical and potential commercial production of
AAV-based gene therapies. For more information, visit
www.abeonatherapeutics.com.
Forward-Looking StatementsThis
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. We have
attempted to identify forward-looking statements by such
terminology as “may,” “will,” “believe,” “estimate,” “expect,” 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, the potential impacts of the COVID-19 pandemic on our
business, operations, and financial condition; continued interest
in our rare disease portfolio; our ability to potentially
commercialize our EB-101 product candidate; our ability to enroll
patients in clinical trials; the outcome of any future meetings
with the U.S. Food and Drug Administration or other regulatory
agencies; the impact of competition; 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; reducing our operating expenses
and extending our cash runway; our ability to execute our operating
plan and achieve important anticipated milestones; and other risks
disclosed in the Company’s most recent Annual Report on Form 10-K
and other periodic reports filed 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 press release,
whether as a result of new information, future developments or
otherwise, except as required by the federal securities laws.
Investor and Media Contact:
Greg Gin
VP, Investor Relations and Corporate Communications
Abeona Therapeutics
ir@abeonatherapeutics.com
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