Abeona Therapeutics Touts Positive Data From Pivotal EB-101 Study In Blistering Skin Disorder

Abeona Therapeutics Inc ABEO announced topline data from its pivotal Phase 3 VIITAL study of EB-101 for recessive dystrophic epidermolysis bullosa (RDEB).
The VIITAL study met its two co-primary efficacy endpoints demonstrating statistically significant, clinically meaningful improvements in wound healing and pain reduction in large chronic RDEB wounds.
EB-101 significantly improved wound healing vs. control at six months.
In addition to meeting the co-primary pain endpoint, in a post-hoc analysis of the EB-101 treated severe wounds, a mean pain reduction from baseline at six months of 5.70 was observed, compared to a mean pain reduction of 3.51 for all treated randomized and non-randomized wounds.
EB-101 was well-tolerated, with no serious treatment-related adverse events observed, consistent with past clinical experience.
Concurrently, Abeona announced a private placement of 7.07 million shares, pre-funded warrants exercisable for 543,933 shares, and accompanying warrants to purchase 7.61 million shares for gross proceeds of $35 million.
The offering price for each share and accompanying warrant was $4.60, and for each pre-funded warrant and an accompanying warrant was $4.59.
Each accompanying warrant has an exercise price of $4.75 per share.
Price Action: ABEO shares are down 25.80% at $3.31 on the last check Thursday.