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.