Is Abeona Therapeutics Inc. (NASDAQ:ABEO) Stock a Good Buy Or Sell After The Recent Correction?

Abeona Therapeutics Inc. (NASDAQ: ABEO) stock is down 13% in a month. However, the company recently reported encouraging ABO-102 test results in treating Sanfilippo Syndrome. Sanfilippo mainly affects the CNS causing neurological function deterioration.

MRI data from Phase 1/2 Transfer A study showed that ABO-102 increased corpus callosum, amygdala, and grey matter volumes in three patients with Sanfilippo Syndrome Types A at 24 months relative to patients that didn’t receive the treatment. The company presented the new data at an oral presentation during the 16th International Symposium.

The company’s Research & Clinical Development Head, Vishwas Seshadri, said that brain volume reduction is common in Sanfilippo Syndrome Type A and is related to physical and long-term cognitive disability. Seshadri said the grey matter is vital for cognitive development, amygdala for fear learning and social-emotional development, and corpus callosum for development of motor functions.

The MRI data showed ABO-102’s potential in increasing corpus callosum, amygdala, and grey matter volumes, consistent with past neurocognitive development preservation results. Therefore, ABEO is worth watching in the coming weeks.

Market Reaction:

On Wednesday, ABEO stock went down 1.60% at $1.24 with more than 487K shares, compared to its average volume of 1.42 million shares. The stock has moved within a range of $1.2200 – 1.2750 after opening the trade at $1.26.