CLEVELAND (AP) — CLEVELAND (AP) — Abeona Therapeutics Inc. (ABEO) on Thursday reported a second-quarter loss of $20.2 million, after reporting a profit in the same period a year earlier.
The Cleveland-based company said it had a loss of 35 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The drug developer posted revenue of $11.4 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $13.1 million.
Abeona Therapeutics shares have risen 42% since the beginning of the year. The stock has increased 17% in the last 12 months.
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