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Abeona Therapeutics: Q4 Earnings Snapshot

CLEVELAND (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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABEO at https://www.zacks.com/ap/ABEO

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