According to the Complaint, Abeona Therapeutics Inc. was formerly known as PlasmaTech Biopharmaceuticals, Inc. and changed its name to Abeona Therapeutics Inc. in June 2015. Abeona is a clinical-stage biopharmaceutical company that purports to develop cell and gene therapies for life-threatening rare genetic diseases.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Abeona’s Chemical, Manufacturing and Controls and internal controls and procedures and/or compliance policies were inadequate; (ii) as a result, the Company failed to provide sufficient data points on the transport stability of EB-101 to clinical sites, or else such transport stability was insufficient; (iii) consequently, it was foreseeable that the U.S. Food and Drug Administration would reject approval for the start of the VITAL Study until such issues were addressed; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

This case was voluntarily dismissed on January 10, 2020.