Abeona Therapeutics Estimates That Its Current Cash And Cash Equivalents, Restricted Cash And Short-term Investments Of $62.7M, Credit Facility, And Proceeds Of $75M From Underwritten Offering In May Is Expected To Provide Cash Runway Into 2026
Portfolio Pulse from Benzinga Newsdesk
Abeona Therapeutics estimates that its current cash and cash equivalents, restricted cash, short-term investments of $62.7M, credit facility, and proceeds of $75M from an underwritten offering in May will provide a cash runway into 2026.
May 15, 2024 | 11:43 am
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Abeona Therapeutics has announced that its current financial resources, including $62.7M in cash and investments, a credit facility, and $75M from a recent offering, are expected to sustain operations into 2026.
The announcement of a strong cash runway into 2026 is a positive indicator for investors, suggesting financial stability and reduced risk of liquidity issues in the near term.
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