Here's Why Abeona Therapeutics Popped Higher Today
Abeona Therapeutics (NASDAQ: ABEO) stock soared by more than 25% as of 10 a.m. today. The reason for the surging share price is a strong set of third-quarter earnings and a very positive update on its Recessive Dystrophic Epidermolysis Bullosa (RDEB) treatment, Zevaskyn.
RDEB is a very rare and inherited skin disorder that leaves highly sensitive skin, which is easily torn or blistered. Academic studies have estimated its incidence at 3.05 per million births, and prevalence at 1.35 per million. Prevalence is significantly lower than incidence because many sufferers die at an early age due to complications caused by this severe disorder.
Zevaskyn is a gene therapy made from a patient's own skin, which has been modified to carry a healthy copy of a gene responsible for producing collagen, and then applied to the patient's wounds.
Source Fool.com
