Abeona Therapeutics Inc.

Worth knowing

• Shareholders being diluted. Shares outstanding up 223% from December 2022 to August 2026.

  Abeona Therapeutics had 223% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Abeona Therapeutics had 223% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

• Stock-based pay is a large cost. Stock pay was 185% of revenue in 2025.

  Abeona Therapeutics paid employees $11M in stock in 2025, 185% of its $6M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

• Investment surge. Capital spending 137% of revenue, up from 9.2% in 2022.

  Abeona Therapeutics is spending 137% of revenue on facilities and equipment, up from 9.2% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

• Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

  Relative to its free cash flow, Abeona Therapeutics looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.