Abeona Therapeutics Announces Inducement Grants Under Nasdaq Rule 5635(c)(4)

Abeona Therapeutics Inc. (Nasdaq: ABEO), a clinical-stage biopharmaceutical enterprise, has recently announced the allocation of equity awards to newly hired non-executive staff. These equity allocations were sanctioned per Nasdaq Listing Rule 5635(c)(4).

On May 31, 2024, Abeona's Compensation Committee, a segment of the Board of Directors, approved the distribution of restricted stock equity awards as a significant inducement for three new employees. These awards encompass a total of up to 5,500 restricted shares of Abeona's common stock. The vesting schedule for these shares is structured to span three years, with one-third of the shares vesting annually on each anniversary of the grant date. This means the shares will be fully vested on the third anniversary of the grant date, provided the employees maintain continuous employment with Abeona until the applicable vesting dates.

Abeona Therapeutics Inc. is deeply involved in the development of cell and gene therapies aimed at treating severe diseases. A focal point of Abeona's pipeline is prademagene zamikeracel (pz-cel), an investigational autologous, COL7A1 gene-corrected epidermal sheet. This therapy is currently being developed to treat recessive dystrophic epidermolysis bullosa, a rare and debilitating condition.

Abeona's state-of-the-art cGMP manufacturing site was pivotal in producing pz-cel for its Phase 3 VIITAL™ trial. This facility is also capable of supporting the commercial production of pz-cel upon receiving approval from the U.S. Food and Drug Administration (FDA). In addition to pz-cel, Abeona's research and development portfolio includes AAV-based gene therapies tailored for ophthalmic diseases that have significant unmet medical needs. The company is also exploring novel, next-generation AAV capsids to enhance tropism profiles for a range of severe diseases.

Abeona Therapeutics' endeavors reflect a steadfast commitment to advancing the field of gene and cell therapy, striving to provide groundbreaking treatments for rare and underserved medical conditions.