Abeona Therapeutics Shares Jump 21% On Strong Q3 Results

(RTTNews) - Abeona Therapeutics Inc. (ABEO) shares surged 21.1 percent to $5.05 on Wednesday after the company reported a strong turnaround to profit for the third quarter.

The developer of gene and cell therapy reported a $91.6 million net income for nine months, up from a $54.4 million loss the previous year. Net income for the quarter reported a narrowed loss of $5.2 million, or $0.10 per share, as opposed to a loss of $30.3 million, or $0.63 per share, in the previous year.

With a volume of 8.8 million shares, the stock traded between $4.53 and $5.60 after opening at $4.53, which was significantly higher than its average of 1.2 million shares on the Nasdaq. Over the previous 52 weeks, Abeona has fluctuated between $3.93 and $7.54.