Cantor Fitzgerald analyst Kristen Kluska lowered the firm’s price target on Abeona Therapeutics to $21 from $28 and keeps an Overweight rating on the shares. Abeona reported Q1 earnings and has raised $75M, removing the near-term financing overhang ahead of the Biologics License Application resubmission in the second half of 2024, the analyst tells investors in a research note. Cantor was encouraged to hear on the call that Abeona intends to meet with the FDA in Q3 to discuss some chemistry, manufacturing and controls work ongoing now to better align ahead of the resubmission.
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