Abeona Therapeutics (ABEO) Jefferies Global Healthcare Conference 2026 summary

Launch progress and patient access

• ZEVASKYN, an autologous cell therapy, was FDA approved in April 2025 and launched at year-end after assay optimization and site onboarding.

• Six qualified treatment centers (QTCs) are active, with patient treatments growing quarter-over-quarter and momentum building as more sites come online.

• Over 100 patients have been identified as candidates, with about 20% actively pursuing treatment; referral and intake processes are improving.

• Major bottlenecks include payer approval and QTC onboarding, but both are expected to improve as sites gain experience and administrative hurdles are cleared.

• Most patients are willing to travel to QTCs, supported by assistance programs, and the patient mix will continue to include many out-of-state cases.

Demand, ramp, and operational outlook

• Demand is strong, with increasing visibility into the patient funnel and expectations for continued growth in Q3 and Q4.

• The number of active QTCs is expected to reach 7 by year-end and potentially 10 by early next year, with each QTC targeting one patient per month at steady state.

• Early centers like Stanford and Lurie Children's are leading in patient volume, but newly activated centers are expected to contribute more in the coming quarters.

• By early 2027, QTCs are expected to operate at full cadence, with process improvements reducing bottlenecks.

• Key leading indicators include number of treatments and biopsies per quarter, with long-term focus on converting the identified patient pool into treatments.

Payer mix, reimbursement, and retreatment

• Over 95% of commercial insurance policies are published, and Medicaid coverage is established in all 50 states; in-state Medicaid is fastest for authorization, followed by commercial, with out-of-state Medicaid being slowest.

• Most patients (60%) are commercially insured, with 30-35% on Medicaid.

• No final payer denials or attrition have occurred so far, and retreatment is expected to be routine with minimal friction.

• Nearly all patients are expected to seek a second treatment due to wound coverage limitations per procedure.