Abeona Therapeutics shares are trading lower after the company announced the FDA issued a Complete Response Letter in response to the company's Biologics License Application for pz-cel for the treatment of patients with recessive dystrophic epidermolysis bullosa.
Portfolio Pulse from Benzinga Newsdesk
Abeona Therapeutics' stock trades lower following the FDA's issuance of a Complete Response Letter for its Biologics License Application for pz-cel, aimed at treating recessive dystrophic epidermolysis bullosa.
April 22, 2024 | 8:59 pm
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Abeona Therapeutics' shares decline after the FDA's Complete Response Letter regarding its application for pz-cel, intended for recessive dystrophic epidermolysis bullosa treatment.
The FDA's issuance of a Complete Response Letter is a significant regulatory setback for Abeona Therapeutics, directly impacting the company's potential to bring pz-cel to market. This regulatory hurdle is likely to negatively affect investor confidence and the stock's short-term performance, as it delays or potentially jeopardizes the company's ability to generate revenue from this treatment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100