CLEVELAND (AP) — CLEVELAND (AP) — Abeona Therapeutics Inc. (ABEO) on Wednesday reported a loss of $17.1 million in its first quarter.
The Cleveland-based company said it had a loss of 30 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.
The drug developer posted revenue of $8.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $5.6 million.
Abeona Therapeutics shares have increased nearly 8% since the beginning of the year. The stock has climbed slightly more than 1% in the last 12 months.
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