Biotech with exciting gene therapy climbs 50% in a week

US gene therapy developer Abeona Therapeutics (Nasdaq: ABEO) is set to start trading on Monday with a share price worth around $13.60, more than 50% higher than it was a week ago.

It comes amid excitement at the potential of Abeona’s EB-101 gene therapy program for patients with the rare genetic disorder recessive dystrophic epidermolysis bullosa (RDEB), to which the US Food and Drug Administration (FDA) granted Breakthrough Therapy designation status on Tuesday. This designation will accelerate the Phase III clinical trial for EB-101, a candidate that has demonstrated significant efficacy in treated patients for the last two years.

"I would expect to see EB-101 reach patients sooner rather than later"