Abeona Therapeutics’ QQ1 2025 results reflect a non-revenue quarter dominated by ongoing R&D investments and a substantial operating loss, consistent with a clinical-stage biotech profile. Revenue remained nil, with a gross loss of $0.815 million and a cumulative operating loss of $19.727 million. After including total other income of $7.698 million, the company reported a net loss of $12.029 million and basic earnings per share of -$0.24. The quarterly EBITDA stood at -$10.216 million, underscoring the heavy R&D burn that funds late-stage programs and early-stage AAV-era investments. YoY improvements in net income (up 61.9%) contrast with a QoQ deterioration in profitability, driven largely by the absence of near-term revenue and persistent operating expenses.
Key Performance Indicators
Operating Income
Decreasing
-19.73M
QoQ: -18.32% | YoY: -37.66%
Net Income
Increasing
-12.03M
QoQ: -29.44% | YoY: 61.91%
EPS
Increasing
-0.24
QoQ: -4.35% | YoY: 79.31%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: None reported for QQ1 2025 (Q1). Gross Profit: -$0.815 million (Gross Margin -N/A); YoY change -12.57%, QoQ change -134.09%. Operating Income: -$19.727 million; YoY -37.66%, QoQ -18.32%. Net Income: -$12.029 million; YoY +61.91%, QoQ -29.44%. EBITDA: -$10.216 million. Earnings per Share (EPS): -$0.24; YoY +79.31%, QoQ -4.35%. Cash Flow: Net cash from operating activities -$18.402 million; Free cash flow -$19.803 million. Balance sheet highlights show substantial liquidity (cash and short-term investments of $84.155 million) against total liabilities of $57.968 million and negative retained earnings of -$825.287 million. Current ratio 4.90x; debt-to-equity 0.579x; net debt $8.041 million; price-to-book 5.72x; enterprise value multiple -12.42x.
Income Statement
Metric
Value
YoY Change
QoQ Change
Gross Profit
-815.00K
-12.57%
-134.09%
Operating Income
-19.73M
-37.66%
-18.32%
Net Income
-12.03M
61.91%
-29.44%
EPS
-0.24
79.31%
-4.35%
Key Financial Ratios
Return on Assets
Weak
-0.12%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.29%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
4.90
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Moderate
0.58
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Negative
-4.92x
Negative earnings make P/E ratio not meaningful
Price to Book
Premium
5.72x
Trading at premium to book value, reflects strong intangibles or growth
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