U.S. Markets close in 2 hrs 41 mins

Abeona Therapeutics: 4Q Earnings Snapshot

DALLAS (AP) _ Abeona Therapeutics Inc. (ABEO) on Monday reported a loss of $17.5 million in its fourth quarter.

On a per-share basis, the Dallas-based company said it had a loss of 36 cents.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.

The drug developer posted revenue of $500,000 in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.7 million.

For the year, the company reported that its loss widened to $56.7 million, or $1.19 per share. Revenue was reported as $3 million.

Abeona Therapeutics shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.09, a fall of 47 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABEO at https://www.zacks.com/ap/ABEO