Abeona Stock Surges to 52-Week High: What's Behind The Move?

Benzinga·04/30/2025 18:44:49

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Abeona Therapeutics, Inc. (NASDAQ:ABEO) shares are trading higher on Wednesday on possible continued strength after the Food and Drug Administration (FDA) announced approval for its gene therapy.

What To Know: The FDA announced on Tuesday approval of ZEVASKYN, a gene therapy for the treatment of wounds in adult and pediatric patients with recessive dystrophic epidermolysis bullosa (REDB).

The stock hit a new 52-week high of $7.32 today as a result, surpassing its previous peak of $6.78, per data Benzinga Pro.

The FDA approval is based on the pivotal Phase 3 VITAL study that showed the therapy resulted in significant wound healing and pain reduction after a single treatment with a favorable safety profile.

“Today’s approval of ZEVASKYN represents a pivotal moment in the treatment of RDEB, answering the call of people living with the clinical, economic, and human impact of this devastating disease,” said Vish Seshadri, Ph.D., M.B.A., CEO of Abeona.

Following the FDA approval of ZEVASKYN, HC Wainwright & Co. analyst Raghuram Selvaraju maintained a Buy rating on Abeona Therapeutics and raised the price target from $15 to $20.

ABEO Price Action: At the time of publication, Abeona shares are trading 27.1% higher at $6.73, according to data from Benzinga Pro.

Image: via Shutterstock

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