Abeona Therapeutics® Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
01 August 2024 - 9:30PM
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 July 31, 2024, the Compensation Committee of
Abeona’s Board of Directors granted restricted stock equity awards
as a material inducement to employment to two individuals hired by
Abeona, which equity awards relate to, in the aggregate, up to
4,500 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.
Prademagene zamikeracel (pz-cel) is Abeona’s investigational
autologous cell-based gene therapy 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 results of ongoing
testing and other corrective actions being performed in response to
the FDA’s identified deficiencies, which could delay the Company’s
BLA resubmission; the timing and outcome of the FDA’s review of our
resubmission; the FDA’s grant of a Priority Review Voucher upon
approval; 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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