Abeona Therapeutics: Q4 Earnings Snapshot
By AP nullCLEVELAND (AP) — CLEVELAND (AP) — Abeona Therapeutics Inc. (ABEO) on Tuesday reported a loss of $20.5 million in its fourth quarter.
On a per-share basis, the Cleveland-based company said it had a loss of 34 cents.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.
The drug developer posted revenue of $5.4 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $5.1 million.
For the year, the company reported net income of $71.2 million, or $1.01 per share, swinging to a profit in the period. Revenue was reported as $5.8 million.
The company's shares closed at $4.95. A year ago, they were trading at $5.29.
_____
This story was generated by (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a at https://www.zacks.com/ap/ABEO