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Cantor Bullish On Abeona Saying Recent Trial Data 'Best Case Scenario'

Vandana Singh
·1 min read

  • Cantor Fitzgerald raised the price target on Abeona Therapeutics Inc (NASDAQ: ABEO) from $22 to $40 after adjusting the market model/ increasing the probability of success for EB-101.

  • Last week, the company reported topline data from the pivotal Phase 3 VIITAL study of EB-101 for recessive dystrophic epidermolysis bullosa (RDEB).

  • The 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.

  • The analyst increased the probability of success from 70% to 85% to reflect the positive data and believes the data supporting EB-101 to become the standard of care for RDEB.

  • Cantor emphasizes its belief Abeona is the only company to now show positive pivotal data in RDEB when evaluating the larger, chronic wounds.

  • The positive data and capital raise of $35 million remove a financial overhang on the company, and investors can focus on the next step of potential commercialization, the analyst writes.

  • Price Action: ABEO shares are down 0.41% at $3.655 on the last check Tuesday.

  • Photo Via Company

Latest Ratings for ABEO

Date

Firm

Action

From

To

Nov 2021

SVB Leerink

Downgrades

Outperform

Market Perform

Nov 2021

HC Wainwright & Co.

Maintains

Buy

Jul 2021

HC Wainwright & Co.

Maintains

Buy

View More Analyst Ratings for ABEO

View the Latest Analyst Ratings

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