Abeona Therapeutics posts new Phase III data on RDEB candidate EB-101

Shares of US gene and cell therapy company Abeona Therapeutics (Nasdaq: ABEO) hit a high of $4.80 yesterday but closed 13% lower at $3.87, after it announced positive top-line data from its pivotal Phase III VIITAL study assessing the safety and efficacy of EB-101 for the treatment of patients with recessive dystrophic epidermolysis bullosa (RDEB), as well as a $35 million financing.

The VIITAL study met its two co-primary efficacy endpoints demonstrating statistically significant, clinically meaningful improvements in wound healing and pain reduction in large chronic RDEB wounds.

The company hopes that EB-101 can be a one-time therapy to improve healing and reduce pain in patients with the most challenging wounds caused by the debilitating disease, commonly known as butterfly disease.