Abeona Therapeutics

Abeona ended 2025 with $191.4 million in cash, cash equivalents and short‑term investments, plus net positive 2025 income driven by a $155 million PRV sale; core operations still consumed $76.3 million in operating cash and capex was ~$8.0 million.

Debt totals ~$20 million under an Avenue facility amended to a fixed 11.75% rate (maturing July 2027) with a 5% final payment fee. The company states cash resources are sufficient for at least 12 months from the 10‑K filing date.

Financial strength hinges on accelerating patient flow and gross margin expansion to offset SG&A for commercial infrastructure; otherwise, the open ATM program (remaining capacity ~$51.5 million at year‑end 2025) implies potential dilution.