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Abeona Therapeutics

ABEO
34
Biotechnology · Healthcare
Also trades as: 0H7R.L GBP 0.04 (-2.72%)
Price
$4.40
-0.07 (-1.57%)
Market Cap
$251.6M
Exchange
NASDAQ
Winston Score
34
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
8/30
Growth
Mixed
8/20
Cash Flow
Weak
0/10
Stability
Good
5/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Good
3/5

34 of 100 counted points = Winston Score 34.

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Share count rising — dilution

+1579.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 3.9M (2021) → 66.1M (2025)

§Winston Score History

The full picture

Abeona Therapeutics is a small biotech company that develops gene therapies for rare, serious skin diseases. Its main product is prademagene zamikeracel (pz-cel), a cell and gene therapy approved by the FDA in 2024 for recessive dystrophic epidermolysis bullosa (RDEB), a painful genetic condition that causes the skin to blister and tear easily. The company focuses on patients with very few or no other treatment options.

Abeona makes money by selling pz-cel, marketed as Zynteglo's competitor in the rare skin disease space, directly to specialized treatment centers in the United States. With a market cap of roughly $400 million, it is a small commercial-stage company still spending heavily to build out its sales and manufacturing infrastructure, which explains the deeply negative operating margin. The key growth driver is expanding the number of treatment centers and patients receiving pz-cel, while the main risk is whether the company can reach enough patients to generate sustainable revenue before needing additional funding.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

>+1,000% YoY

Strong revenue growth

Reported EPS Growth

-116.9% YoY

Quarterly reporting periods ended:

30 Jun 2025: $2.07

30 Jun 2026: $-0.35

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS decreased year over year

R&D Spend

$27M/ year

↓ Declining (-22% vs prior year)

460.7% of revenue

25.6x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

35.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 years

$147M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$147M cash & investments at current burn rate

Strong grower

Abeona Therapeutics is growing revenue at 2745% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
63.3%
Premium pricing power — 63.3% gross margin
Profit after running costs
Operating Margin
-120.0%
Losing money on operations — -120.0%
Return on the money invested
ROCE
-56.5%
Weak — -56.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
>+1,000%
Fast-growing sales (>+1,000% YoY)
Profit growth
EPS YoY
-217.0%
Earnings shrinking (-217.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-319.5%
Burning cash (-319.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.16
Conservative — low debt load (0.16)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
47.16%
Healthy income — 47.16% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
N/A
no trend
Data not available

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