Abeona Therapeutics Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 01 2024 - 8:30AM
Abeona Therapeutics Inc. (Nasdaq: ABEO) today announced it has
granted equity awards to new non-executive employees who joined the
Company. The equity awards were approved in accordance with Nasdaq
Listing Rule 5635(c)(4).
On March 31, 2024, the Compensation Committee of
Abeona’s Board of Directors granted restricted stock equity awards
as a material inducement to employment to seven individuals hired
by Abeona, which equity awards relate to, in the aggregate, up to
31,000 restricted shares of Abeona common stock. One-third of the
shares subject to such restricted stock awards will vest yearly on
each anniversary of the Grant Date, such that the shares subject to
such restricted stock awards granted to each employee will be fully
vested on the third anniversary of the Grant Date, in each case,
subject to each employee’s continued employment with Abeona on the
applicable vesting dates.
About Abeona Therapeutics
Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical
company developing cell and gene therapies for serious diseases.
The U.S. FDA has accepted and granted Priority Review with a PDUFA
target action date of May 25, 2024 for the Biologics License
Application for pz-cel (prademagene zamikeracel), Abeona’s
investigational autologous, COL7A1 gene-corrected epidermal sheets
currently in development for recessive dystrophic epidermolysis
bullosa. The Company’s fully integrated cell and gene therapy cGMP
manufacturing facility served as the manufacturing site for pz-cel
used in its Phase 3 VIITAL™ trial, and is capable of supporting
commercial production of pz-cel upon FDA approval. The Company’s
development portfolio also features AAV-based gene therapies for
ophthalmic diseases with high unmet medical need. Abeona’s novel,
next-generation AAV capsids are being evaluated to improve tropism
profiles for a variety of devastating diseases. For more
information, visit www.abeonatherapeutics.com.
Forward-Looking Statements This
press release contains certain statements that are forward-looking
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and that involve risks and uncertainties. We have
attempted to identify forward-looking statements by such
terminology as “may,” “will,” “believe,” “anticipate,” “expect,”
“intend,” “potential,” and similar words and expressions (as well
as other words or expressions referencing future events, conditions
or circumstances), which constitute and are intended to identify
forward-looking statements. Actual results may differ materially
from those indicated by such forward-looking statements as a result
of various important factors, numerous risks and uncertainties,
including but not limited to, the timing and outcome of our
Biologics License Application submission to the FDA for pz-cel; the
FDA’s grant of a Priority Review Voucher; continued interest in our
rare disease portfolio; our ability to enroll patients in clinical
trials; the outcome of future meetings with the FDA or other
regulatory agencies, including those relating to preclinical
programs; the ability to achieve or obtain necessary regulatory
approvals; the impact of any changes in the financial markets and
global economic conditions; risks associated with data analysis and
reporting; and other risks disclosed in the Company’s most recent
Annual Report on Form 10-K and subsequent periodic reports filed
with the Securities and Exchange Commission. The Company undertakes
no obligation to revise the forward-looking statements or to update
them to reflect events or circumstances occurring after the date of
this press release, whether as a result of new information, future
developments or otherwise, except as required by the federal
securities laws.
Investor and Media Contact:
Greg Gin
VP, Investor Relations and Corporate Communications
Abeona Therapeutics
ir@abeonatherapeutics.com
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