Over the last couple of months, Abeona Therapeutics stock has ticked up, up, and up. Many investors are questioning whether or not they should actually buy the hype of this stock, which has doubled its value over the past month. Well, if you chose to buy, it’s because you believed in the long term prospects of Abeona’s latest breakthrough gene therapy program, EB-101.
Abeona Therapeutics is a biopharmaceutical company focused on using gene therapy to treat rare life-threatening diseases. They seek to heal patients by injecting them with the “correct copy” of DNA, so that their body won’t replicate the diseased strands (Abeona.com). EB 101 is Abeona’s latest gene therapy treatment for patients with the rare skin disease Recessive Dystrophic Epidermolysis Bullosa. It was recently granted the coveted Orphan Drug Designation by the FDA. As a result, Abeona will receive tax credits, grant funding, clinical trial design assistance, and various fee waivers, for its continued research of this treatment. More importantly, if this treatment one day receives official FDA approval, Abeona would enjoy 7 years of U.S. marketing exclusivity for their product (NASDAQ GlobeNewswire).
With biopharmaceutical companies, it is always important to invest in a company that is doing something that not many other companies are doing. Moreover, in this industry it is valuable to find companies that are looked upon favorably by federal regulators. In this instance, Abeona has gotten the nod from the federal government to continue its groundbreaking research, as well as received their beneficial assistance in doing so. These are crucial factors in allowing Aebona to maintain an advantage over its competitors.
Abeona is a company one can trust because ED-101 is not the only treatment program to receive Orphan Drug Designation by the FDA. They have had two other gene therapy treatments be granted this favorable status, proving that Abeona has cemented its roots in this industry. It focuses on furthering its gene therapy research to find treatments to various rare diseases. The fact that it has attained this designation 3 times indicates that it has a history of developing effective treatments that abide by federal guidelines (NASDAQ GlobeNewswire).
In the end, Abeona’s surge in value has been so great, that some will trouble putting faith into its stock growing further. But, when one looks at the company’s history in the gene therapy industry, it becomes evident that the company has had repeated success making inroads in a very niche industry. To have the FDA designate 3 separate gene therapy treatments as ‘Orphan Drug’ over the last several years only provides further evidence of this. It is not as if these are the only breakthroughs the company has ever achieved. They are expanding their gene therapy research, constantly looking for ways to help cure other rare diseases. The company has had a track record of success, which has been stamped by the FDA’s seal of approval on more than one occasion.