Abeona Therapeutics (ABEO) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity File Number	001-15771
Entity Registrant Name	ABEONA THERAPEUTICS INC.
Entity Central Index Key	0000318306
Entity Tax Identification Number	83-0221517
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1330 Avenue of the Americas
Entity Address, Address Line Two	33rd Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	(646)
Local Phone Number	813-4701
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ABEO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		84,777,741

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 14,542,000	$ 129,258,000
Short-term investments	93,337,000
Prepaid expenses and other current assets	924,000	3,132,000
Total current assets	108,803,000	132,390,000
Property and equipment, net	12,628,000	13,157,000
Right-of-use lease assets	7,551,000	8,047,000
Licensed technology, net	1,924,000	36,178,000
Goodwill	32,466,000	32,466,000
Other assets and restricted cash	1,006,000	1,144,000
Total assets	164,378,000	223,382,000
Current liabilities:
Accounts payable	1,979,000	3,763,000
Accrued expenses	3,017,000	5,543,000
Loan payable	1,758,000
Current portion of lease liability	1,706,000	1,699,000
Payable to licensor	28,800,000	27,400,000
Deferred revenue	296,000	296,000
Total current liabilities	37,556,000	38,701,000
Long-term lease liabilities	5,768,000	6,251,000
Total liabilities	43,324,000	44,952,000
Commitments and contingencies
Stockholders’ equity:
Common stock - $0.01 par value; authorized 200,000,000 shares; issued and outstanding 84,781,241 at June 30, 2020 and 83,622,135 at December 31, 2019	848,000	836,000
Additional paid-in capital	667,712,000	664,064,000
Accumulated deficit	(547,639,000)	(486,470,000)
Accumulated other comprehensive income	133,000
Total stockholders’ equity	121,054,000	178,430,000
Total liabilities and stockholders’ equity	$ 164,378,000	$ 223,382,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	84,781,241	83,622,135
Common stock, shares outstanding	84,781,241	83,622,135

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues
Expenses:
Research and development	6,109,000	16,307,000	12,927,000	28,044,000
General and administrative	5,538,000	5,612,000	11,950,000	11,271,000
Depreciation and amortization	834,000	2,057,000	2,899,000	3,715,000
Licensed technology impairment charge			32,916,000
Total expenses	12,481,000	23,976,000	60,692,000	43,030,000
Loss from operations	(12,481,000)	(23,976,000)	(60,692,000)	(43,030,000)
Interest and miscellaneous income	271,000	52,000	923,000	551,000
Interest expense	(800,000)		(1,400,000)
Net loss	$ (13,010,000)	$ (23,924,000)	$ (61,169,000)	$ (42,479,000)
Basic and diluted loss per common share	$ (0.14)	$ (0.49)	$ (0.66)	$ (0.88)
Weighted average number of common shares outstanding – basic and diluted	93,180,837	48,961,988	92,910,014	48,458,004
Other comprehensive income/(loss):
Change in unrealized (losses) gains related to  available-for-sale debt securities	$ (253,000)		$ 133,000
Comprehensive loss	$ (13,263,000)	$ (23,924,000)	$ (61,036,000)	$ (42,479,000)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Dec. 31, 2018	$ 479,000	$ 543,754,000	$ (410,188,000)		$ 134,045,000
Beginning balance, shares at Dec. 31, 2018	47,944,486
Stock option-based compensation expense		2,103,000			2,103,000
Restricted stock-based compensation expense		172,000			172,000
Common stock issued for cash exercise of options		28,000			28,000
Common stock issued for cash exercise of options, shares	5,208
Net loss			(18,555,000)		(18,555,000)
Ending balance, value at Mar. 31, 2019	$ 479,000	546,057,000	(428,743,000)		117,793,000
Ending balance, shares at Mar. 31, 2019	47,949,694
Beginning balance, value at Dec. 31, 2018	$ 479,000	543,754,000	(410,188,000)		134,045,000
Beginning balance, shares at Dec. 31, 2018	47,944,486
Other comprehensive loss
Net loss					(42,479,000)
Ending balance, value at Jun. 30, 2019	$ 492,000	559,335,000	(452,667,000)		107,160,000
Ending balance, shares at Jun. 30, 2019	49,249,497
Beginning balance, value at Mar. 31, 2019	$ 479,000	546,057,000	(428,743,000)		117,793,000
Beginning balance, shares at Mar. 31, 2019	47,949,694
Stock option-based compensation expense		1,678,000			1,678,000
Restricted stock-based compensation expense		78,000			78,000
Common stock issued for cash exercise of options	$ 1,000	384,000			385,000
Common stock issued for cash exercise of options, shares	91,126
Common stock issued for cash under open market sale agreement	$ 17,000	12,605,000			12,622,000
Common stock issued for cash under open market sale agreement, shares	1,658,677
Shares returned in connection with arbitration ruling on licensing agreement	$ (5,000)	(1,467,000)			(1,472,000)
Shares returned in connection with arbitration ruling on licensing agreement, shares	(450,000)
Other comprehensive loss
Net loss			(23,924,000)		(23,924,000)
Ending balance, value at Jun. 30, 2019	$ 492,000	559,335,000	(452,667,000)		107,160,000
Ending balance, shares at Jun. 30, 2019	49,249,497
Beginning balance, value at Dec. 31, 2019	$ 836,000	664,064,000	(486,470,000)		178,430,000
Beginning balance, shares at Dec. 31, 2019	83,622,135
Stock option-based compensation expense		1,256,000			1,256,000
Restricted stock-based compensation expense		464,000			464,000
Other comprehensive loss				386,000	386,000
Net loss			(48,159,000)		(48,159,000)
Ending balance, value at Mar. 31, 2020	$ 836,000	665,784,000	(534,629,000)	386,000	132,377,000
Ending balance, shares at Mar. 31, 2020	83,622,135
Beginning balance, value at Dec. 31, 2019	$ 836,000	664,064,000	(486,470,000)		178,430,000
Beginning balance, shares at Dec. 31, 2019	83,622,135
Other comprehensive loss					133,000
Net loss					(61,169,000)
Ending balance, value at Jun. 30, 2020	$ 848,000	667,712,000	(547,639,000)	133,000	121,054,000
Ending balance, shares at Jun. 30, 2020	84,781,241
Beginning balance, value at Mar. 31, 2020	$ 836,000	665,784,000	(534,629,000)	386,000	132,377,000
Beginning balance, shares at Mar. 31, 2020	83,622,135
Stock option-based compensation expense		1,578,000			1,578,000
Restricted stock-based compensation expense		187,000			187,000
Common stock issued for cash exercise of options	$ 1,000	174,000			175,000
Common stock issued for cash exercise of options, shares	75,793
Issuance of common stock in connection with restricted share awards	$ 11,000	(11,000)
Issuance of common stock in connection with restricted share awards, shares	1,083,313
Other comprehensive loss				(253,000)	(253,000)
Net loss			(13,010,000)		(13,010,000)
Ending balance, value at Jun. 30, 2020	$ 848,000	$ 667,712,000	$ (547,639,000)	$ 133,000	$ 121,054,000
Ending balance, shares at Jun. 30, 2020	84,781,241

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (13,010,000)	$ (23,924,000)	$ (61,169,000)	$ (42,479,000)
Adjustments to reconcile net loss to cash used in operating activities:
Non-cash licensed technology impairment charge			32,916,000
Depreciation and amortization	834,000	2,057,000	2,899,000	3,715,000
Stock option-based compensation expense	1,578,000	1,678,000	2,834,000	3,781,000
Restricted stock-based compensation expense			651,000	250,000
Non-cash interest expense			600,000
Accretion and interest on short-term investments			(156,000)	(829,000)
Accretion of right-of-use lease assets			496,000	382,000
Non-cash loss on arbitration ruling on licensing agreement				367,000
Change in operating assets and liabilities:
Receivables				41,000
Prepaid expenses and other current assets			2,208,000	1,459,000
Other assets				(1,000)
Accounts payable, accrued expenses and lease liabilities			(4,786,000)	2,994,000
Change in payable to licensor			800,000
Net cash used in operating activities			(22,707,000)	(30,320,000)
Cash flows from investing activities:
Capital expenditures			(1,032,000)	(5,250,000)
Acquisition of licensed technology				(200,000)
Purchases of short-term investments			(123,062,000)
Proceeds from maturities of short-term investments			30,014,000	47,144,000
Net cash (used in) provided by investing activities			(94,080,000)	41,694,000
Cash flows from financing activities:
Proceeds from loan payable			1,758,000
Proceeds from open market sales of common stock				12,622,000
Proceeds from exercise of stock options			175,000	413,000
Net cash provided by financing activities			1,933,000	13,035,000
Net (decrease) increase in cash, cash equivalents and restricted cash			(114,854,000)	24,409,000
Cash, cash equivalents and restricted cash at beginning of period			130,368,000	19,310,000
Cash, cash equivalents and restricted cash at end of period	15,514,000	43,719,000	15,514,000	43,719,000
Supplemental cash flow information:
Cash and cash equivalents	14,542,000	42,609,000	14,542,000	42,609,000
Restricted cash	972,000	1,110,000	972,000	1,110,000
Total cash, cash equivalents and restricted cash	$ 15,514,000	$ 43,719,000	15,514,000	43,719,000
Shares returned in connection with arbitration  ruling on licensing agreement				1,472,000
Cash paid for interest
Cash paid for taxes

NATURE OF OPERATIONS AND SIGNIF

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES Background Abeona Therapeutics Inc., a Delaware corporation (together with our subsidiaries, “we,” “our,” “Abeona” or the “Company”), is a clinical-stage biopharmaceutical company developing gene and cell therapies for life-threatening rare genetic diseases. Our lead clinical programs consist of: (i) EB-101, an autologous, gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa (“RDEB”), (ii) ABO-102, an adeno-associated virus (“AAV”)-based gene therapy for Sanfilippo syndrome type A (“MPS IIIA”), and (iii) ABO-101, an AAV-based gene therapy for Sanfilippo syndrome type B (“MPS IIIB”). We have additional AAV-based gene therapies in various developmental stages designed to treat the CLN1 and CLN3 forms of Batten Disease, cystic fibrosis and retinal diseases. In addition, we are developing next-generation AAV-based gene therapies using the novel AIM™ capsid platform that we have exclusively licensed from the University of North Carolina at Chapel Hill, and internal AAV vector research programs. Our efforts have been principally devoted to research and development, resulting in significant losses. Basis of Presentation The condensed consolidated balance sheet as of June 30, 2020 and the condensed consolidated statements of operations and comprehensive loss, stockholders’ equity and cash flows for the three and six months ended June 30, 2020 and 2019 were prepared by management without audit. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, except as otherwise disclosed, necessary for the fair presentation of the financial position, results of operations, and changes in financial position for such periods, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Form 10-K for the year ended December 31, 2019. The results of operations for the period ended June 30, 2020 are not necessarily indicative of the operating results that may be expected for a full year. The condensed consolidated balance sheet as of December 31, 2019 contains financial information taken from the audited Abeona consolidated financial statements as of that date. Uses and Sources of Liquidity The financial statements have been prepared on the going concern basis, which assumes the Company will have sufficient cash to pay its operating expenses, as and when they become payable, for a period of at least 12 months from the date the financial report was issued. As of June 30, 2020, we had cash, cash equivalents and short-term investments of $ 107.9 million and net assets of $ 121.1 million. For the six months ended June 30, 2020, we had cash outflows from operations of $ 22.7 million. We have not generated any significant product revenues and have not achieved profitable operations. There is no assurance that profitable operations will ever be achieved, and, if achieved, could be sustained on a continuing basis. In addition, development activities, clinical and nonclinical testing, and commercialization of our products will require significant additional financing. We are subject to a number of risks similar to other life science companies, including, but not limited to, risks related to the successful discovery and development of product candidates, obtaining the necessary regulatory approval to market our product candidates, raising additional capital to continue to fund our operations, development of competing drugs and therapies, protection of proprietary technology and market acceptance of our products. As a result of these and other risks and the related uncertainties, there can be no assurance of our future success. Based upon our current operating plans, we believe that we have sufficient resources to fund operations through the next 12 months with our existing cash, cash equivalents and short-term investments. We will need to secure additional funding in the future, to carry out all our planned research and development activities. If we are unable to obtain additional financing or generate license or product revenue, the lack of liquidity and sufficient capital resources could have a material adverse effect on our future prospects. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates and assumptions. Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. We maintain deposits primarily in financial institutions, which may at times exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). We have not experienced any losses related to amounts in excess of FDIC limits. Short-term Investments Short-term investments consist of investments in U.S. government, U.S. agency and U.S. treasury securities. We determine the appropriate classification of the securities at the time they are acquired and evaluate the appropriateness of such classifications at each balance sheet date. We classify our short-term investments as available-for-sale pursuant to Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities Leases We account for leases in accordance with ASC 842, Leases Our leases do not have significant rent escalation, holidays, concessions, material residual value guarantees, material restrictive covenants or contingent rent provisions. Our leases include both lease (e.g., fixed payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs), which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. Most leases include one or more options to renew. The exercise of lease renewal options is typically at our sole discretion; therefore, the majority of renewals to extend the lease terms are not included in our right-of-use assets and lease liabilities as they are not reasonably certain of exercise. We regularly evaluate the renewal options and when they are reasonably certain of exercise, we include the renewal period in our lease term. Additional information and disclosures required under ASC 842 is included in Note 7. Restricted Cash In November 2016, the Financial Accounting Standards Board issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Loss Per Common Share We have presented basic and diluted loss per common share on the statement of operations. Basic and diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock and shares underlying “pre-funded” warrants outstanding during the period. At June 30, 2020, 84,781,241 shares of common stock were outstanding. The “pre-funded” warrants are included in the computation of basic net loss per share as the exercise price is negligible and they are fully vested and exercisable. We do not include the potential impact of dilutive securities in diluted net loss per share, as the impact of these items is anti-dilutive. Potential dilutive securities result from outstanding stock options and “non-pre-funded” warrants. We did not include the following potentially dilutive securities in the computation of diluted net loss per common share during the periods presented: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE For the three For the three For the six For the six 2020 2019 2020 2019 Warrants 20,000 1,820,686 20,000 1,820,686 Stock options 7,790,596 6,926,781 7,790,596 6,926,781 Total 7,810,596 8,747,467 7,810,596 8,747,467

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
SHORT-TERM INVESTMENTS	NOTE 2 – SHORT-TERM INVESTMENTS The following table summarizes the available-for-sale debt securities held: SCHEDULE OF AVAILABLE-FOR-SALE DEBT SECURITIES HELD Description June 30, 2020 December 31, 2019 U.S. government and agency securities and treasuries $ 93,337,000 $ The amortized cost of the available-for-sale debt securities, which is adjusted for amortization of premiums and accretion of discounts to maturity, was $ 93,204,000 as of June 30, 2020. There were no material realized gains or losses recognized on the sale or maturity of available-for-sale debt securities during the six months ended June 30, 2020 or 2019.

LICENSED TECHNOLOGY

LICENSED TECHNOLOGY	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
LICENSED TECHNOLOGY	NOTE 3 – LICENSED TECHNOLOGY On November 4, 2018, we entered into a license agreement with REGENXBIO Inc. (“REGENXBIO”) to obtain rights to an exclusive worldwide license (subject to certain non-exclusive rights previously granted for MPS IIIA), with rights to sublicense, to REGENXBIO’s NAV AAV9 vector for gene therapies for treating MPS IIIA, MPS IIIB, CLN1 Disease and CLN3 Disease. Consideration for the rights granted under the original agreement included fees totaling $ 180 million and a running royalty on net sales, including: (i) an initial fee of $ 20 million, $ 10 million of which was due to REGENXBIO shortly after the effective date of the agreement, and $ 10 million of which was due on the first anniversary of the effective date of the agreement in November 2019, (ii) annual fees totaling up to $ 100 million, payable in $ 20 million annual installments beginning on the second anniversary of the effective date (the first of which remains payable if the agreement is terminated before the second anniversary in November 2020), (iii) sales milestone payments totaling $ 60 million, and (iv) royalties payable in the low double digits to low teens on net sales of products covered under the agreement. The license was being amortized over the life of the patent of eight years . On November 1, 2019, we entered into an amendment of the original license agreement. The amended agreement replaced the $ 10 million payment due on November 4, 2019 with a $ 3 million payment due on November 4, 2019 and an additional $ 8 million payment (which included $ 1 million of interest) due no later than April 1, 2020. The payment was scheduled to be paid by April 1, 2020 and the guaranteed amount of $ 20 million was due to be paid on November 4, 2020 and are recorded as payable to licensor on the consolidated balance sheet. Prior to the April 1, 2020 deadline, we engaged REGENXBIO in discussions in an attempt to renegotiate the financial terms of the agreement, but we were unable to reach a mutual understanding that we believed would have been favorable for the Company or our programs, and we did not make the $ 8 million payment due by April 1, 2020. On April 17, 2020, REGENXBIO sent us a written demand for the $ 8 million fee, payable within a 15-day cure period after receipt of the demand letter. 28 million (which would otherwise have been due in 2020) plus accrued interest of $ 0.8 million as of June 30, 2020. REGENXBIO disputes our arbitration claim and has filed a counterclaim seeking payment of the $ 28 As of March 31, 2020, we considered the status of our discussions with REGENXBIO as a potential indicator of impairment in accordance with ASC 360-10-35-21. Since our impairment testing indicated that the carrying value of the license agreement exceeded its fair value, we recorded a $ 32.9 million non-cash impairment charge in the three months ended March 31, 2020. On May 15, 2015, we acquired Abeona Therapeutics LLC, which had an exclusive license through Nationwide Children’s Hospital to the AB-101 and AB-102 patent portfolios for developing treatments for patients with Sanfilippo Syndrome Type A and Type B. The license is amortized over the life of the license of 20 years . Licensed technology consists of the following: SCHEDULE OF LICENSED TECHNOLOGY June 30, 2020 December 31, 2019 Licensed technology $ 2,606,000 $ 42,606,000 Less accumulated amortization 682,000 6,428,000 Licensed technology, net $ 1,924,000 $ 36,178,000 The aggregate estimated amortization expense for intangible assets remaining as of June 30, 2020 is as follows: SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS June 30, 2020 2020, remainder $ 86,000 2021 174,000 2022 174,000 2023 174,000 2024 174,000 Thereafter 1,142,000 Total $ 1,924,000 Amortization of licensed technology was $ 44,000 and $ 1,338,000 for the three and six months ended June 30, 2020, respectively, and $ 1,293,000 and $ 2,638,000 for the three and six months ended June 30, 2019, respectively.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 4 – FAIR VALUE MEASUREMENTS We calculate the fair value of our assets and liabilities that qualify as financial instruments and include additional information in the notes to the consolidated financial statements when the fair value is different than the carrying value of these financial instruments. The estimated fair value of receivables, prepaid expenses, other assets, accounts payable, accrued expenses, payable to licensor and deferred revenue approximate their carrying amounts due to the relatively short maturity of these instruments. U.S. GAAP defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. This guidance establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 – Quoted prices in active markets for identical assets or liabilities. ● Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. ● Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar valuation techniques that use significant unobservable inputs. The guidance requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We have segregated all financial assets and liabilities that are measured at fair value on a recurring basis (at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. Financial assets and liabilities measured at fair value on a recurring and non-recurring basis as of June 30, 2020 and December 31, 2019 are summarized below: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS Description June 30, 2020 Level 1 Level 2 Level 3 Recurring Assets: Short-term investments $ 93,337,000 $ $ 93,337,000 $ - Non-recurring Assets: Licensed technology, net $ 1,924,000 $ - $ - $ 1,924,000 Goodwill 32,466,000 - - 32,466,000 Description December 31, 2019 Level 1 Level 2 Level 3 Non-recurring Assets: Licensed technology, net $ 36,178,000 $ $ $ 36,178,000 Goodwill 32,466,000 - - 32,466,000

LOAN PAYABLE

LOAN PAYABLE	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
LOAN PAYABLE	NOTE 5 – LOAN PAYABLE On May 2, 2020, we received loan proceeds in the amount of approximately $ 1.8 million (the “PPP Loan”) under the Paycheck Protection Program (“PPP”). The PPP was established under the Coronavirus Aid, Relief and Economic Security Act, as amended (“CARES Act”) and is administered by the U.S. Small Business Administration (“SBA”). Under the terms of the CARES Act, PPP loan recipients can apply for loan forgiveness. The potential loan forgiveness for all or a portion of PPP loans is determined, subject to limitations, based on the use of loan proceeds over the 24-weeks after the loan proceeds are disbursed for payment of payroll costs and any payments of mortgage interest, rent, and utilities. The amount of loan forgiveness will be reduced if PPP loan recipients terminate employees or reduce salaries during the covered period. The unforgiven portion of our PPP Loan, if any, is payable over two years at an interest rate of 1 %, with a deferral of payments for the first six months, beginning on May 2, 2020. We intend to use the proceeds from our PPP loan for purposes consistent with the PPP. While we currently believe that our use of the loan proceeds will meet the conditions for forgiveness of our PPP loan there can be no assurance that forgiveness for any portion of the PPP Loan will be obtained.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 6 – STOCK-BASED COMPENSATION The following table summarizes stock option-based compensation for the three and six months ended June 30, 2020 and 2019: SCHEDULE OF STOCK BASED COMPENSATION For the three For the three For the six For the six 2020 2019 2020 2019 Research and development $ 871,000 $ 1,009,000 $ 1,615,000 $ 2,041,000 General and administrative 707,000 669,000 1,219,000 1,740,000 Stock option-based compensation expense included in operating expense 1,578,000 1,678,000 2,834,000 3,781,000 Total stock option-based compensation expense 1,578,000 1,678,000 2,834,000 3,781,000 Tax benefit - - - - Stock option-based compensation expense, net of tax $ 1,578,000 $ 1,678,000 $ 2,834,000 $ 3,781,000 Stock Options: ● Expected volatility – we estimate the volatility of our share price at the date of grant using a “look-back” period which coincides with the expected term, defined below. We believe using a “look-back” period which coincides with the expected term is the most appropriate measure for determining expected volatility. ● Expected term – we estimate the expected term using the “simplified” method, as outlined in Staff Accounting Bulletin No. 107, “Share-Based Payment.” ● Risk-free interest rate – we estimate the risk-free interest rate using the U.S. Treasury yield curve for periods equal to the expected term of the options in effect at the time of grant. ● Dividends – we use an expected dividend yield of zero because we have not declared or paid a cash dividend, nor do we have any plans to declare a dividend. We used the following weighted-average assumptions to estimate the fair value of the options granted for the periods indicated: SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED For the three For the three For the six For the six 2020 2019 2020 2019 Expected volatility 111% 108% 111% 108% Expected term 6.25 5 6.25 5 Risk-free interest rate 0.23% 2.21% 0.30% 2.24% Expected dividend yield 0% 0% 0% 0% The following table summarizes the options granted for the periods indicated: SCHEDULE OF OPTIONS ACTIVITY For the three For the three For the six For the six 2020 2019 2020 2019 Options granted 1,897,119 1,183,890 3,073,046 1,384,890 Weighted-average: Exercise price $ 2.83 $ 6.86 $ 2.30 $ 6.84 Grant date fair value $ 2.36 $ 5.39 $ 1.92 $ 5.37 Restricted Common Stock 1,083,313 shares of restricted common stock during the three and six months ended June 30, 2020. We did not grant any shares of restricted common stock to employees during the three and six months ended June 30, 2019. The following table summarizes restricted common stock compensation expense for the three and six months ended June 30, 2020 and 2019: SCHEDULE OF RESTRICTED COMMON STOCK SHARE-BASED COMPENSATION For the three For the three For the six For the six 2020 2019 2020 2019 Research and development $ 147,000 $ - $ 472,000 $ - General and administrative 40,000 78,000 179,000 250,000 Restricted stock-based compensation expense included in operating expense 187,000 78,000 651,000 250,000 Total restricted stock-based compensation expense 187,000 78,000 651,000 250,000 Tax benefit - - - - Restricted stock-based compensation expense, net of tax $ 187,000 $ 78,000 $ 651,000 $ 250,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7 – COMMITMENTS AND CONTINGENCIES Operating Leases We lease space under operating leases for manufacturing and laboratory facilities and administrative offices in Cleveland, Ohio, as well as administrative offices in New York, New York. We also lease office space in Madrid, Spain as well as certain office equipment under operating leases, which have a non-cancelable lease term of less than one year and, therefore, we have elected the practical expedient to exclude these short-term leases from our right-of-use assets and lease liabilities. Components of lease cost are as follows: SCHEDULE OF COMPONENTS OF LEASE COST For the three For the three For the six For the six 2020 2019 2020 2019 Operating lease cost $ 434,000 $ 434,000 $ 868,000 $ 723,000 Variable lease cost $ 92,000 $ 86,000 $ 175,000 $ 159,000 Short-term lease cost $ 6,000 $ 34,000 $ 24,000 $ 81,000 The following table presents information about the amount and timing of cash flows arising from operating leases as of June 30, 2020: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES Maturity of lease liabilities: 2020, remainder $ 851,000 2021 1,713,000 2022 1,727,000 2023 1,741,000 2024 1,781,000 Thereafter 1,885,000 Total undiscounted operating lease payments 9,698,000 Less: imputed interest 2,224,000 Present value of operating lease liabilities $ 7,474,000 Balance sheet classification: Current portion of lease liability $ 1,706,000 Long-term lease liability 5,768,000 Total operating lease liabilities $ 7,474,000 Other information: Weighted-average remaining lease term for operating leases 67 Weighted-average discount rate for operating leases 9.6% Commitment with contract manufacturer We engaged a contract manufacturer to assist us with developing and defining the processes necessary to manufacture our RDEB product candidate and had a remaining commitment of $ 6.3 million at March 31, 2020. During the second quarter of 2020, we cancelled the remaining stages of work with the contract manufacturer. We have no remaining commitment at June 30, 2020. Arbitration Proceeding We are currently engaged in an arbitration proceeding with REGENXBIO regarding the former license agreement between the parties relating to use of the AAV9 capsid in our MPS IIIA, MPS IIIB, CLN1, and CLN3 programs. The license terminated on May 2, 2020, and on May 25, 2020, we filed an arbitration claim with the American Arbitration Association alleging that REGENXBIO materially breached the license agreement prior to termination and seeking, among other things, a declaration that as a result of REGENXBIO’s material breach, we are not responsible for payments totaling $ 28 million (which would otherwise have been due in 2020) plus accrued interest of $ 0.8 million as of June 30, 2020. REGENXBIO disputes our arbitration claim and has filed a counterclaim seeking payment of these amounts. No arbitration schedule has yet been set by the three-arbitrator panel.

NATURE OF OPERATIONS AND SIGN_2

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	Background Abeona Therapeutics Inc., a Delaware corporation (together with our subsidiaries, “we,” “our,” “Abeona” or the “Company”), is a clinical-stage biopharmaceutical company developing gene and cell therapies for life-threatening rare genetic diseases. Our lead clinical programs consist of: (i) EB-101, an autologous, gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa (“RDEB”), (ii) ABO-102, an adeno-associated virus (“AAV”)-based gene therapy for Sanfilippo syndrome type A (“MPS IIIA”), and (iii) ABO-101, an AAV-based gene therapy for Sanfilippo syndrome type B (“MPS IIIB”). We have additional AAV-based gene therapies in various developmental stages designed to treat the CLN1 and CLN3 forms of Batten Disease, cystic fibrosis and retinal diseases. In addition, we are developing next-generation AAV-based gene therapies using the novel AIM™ capsid platform that we have exclusively licensed from the University of North Carolina at Chapel Hill, and internal AAV vector research programs. Our efforts have been principally devoted to research and development, resulting in significant losses.
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet as of June 30, 2020 and the condensed consolidated statements of operations and comprehensive loss, stockholders’ equity and cash flows for the three and six months ended June 30, 2020 and 2019 were prepared by management without audit. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, except as otherwise disclosed, necessary for the fair presentation of the financial position, results of operations, and changes in financial position for such periods, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Form 10-K for the year ended December 31, 2019. The results of operations for the period ended June 30, 2020 are not necessarily indicative of the operating results that may be expected for a full year. The condensed consolidated balance sheet as of December 31, 2019 contains financial information taken from the audited Abeona consolidated financial statements as of that date.
Uses and Sources of Liquidity	Uses and Sources of Liquidity The financial statements have been prepared on the going concern basis, which assumes the Company will have sufficient cash to pay its operating expenses, as and when they become payable, for a period of at least 12 months from the date the financial report was issued. As of June 30, 2020, we had cash, cash equivalents and short-term investments of $ 107.9 million and net assets of $ 121.1 million. For the six months ended June 30, 2020, we had cash outflows from operations of $ 22.7 million. We have not generated any significant product revenues and have not achieved profitable operations. There is no assurance that profitable operations will ever be achieved, and, if achieved, could be sustained on a continuing basis. In addition, development activities, clinical and nonclinical testing, and commercialization of our products will require significant additional financing. We are subject to a number of risks similar to other life science companies, including, but not limited to, risks related to the successful discovery and development of product candidates, obtaining the necessary regulatory approval to market our product candidates, raising additional capital to continue to fund our operations, development of competing drugs and therapies, protection of proprietary technology and market acceptance of our products. As a result of these and other risks and the related uncertainties, there can be no assurance of our future success. Based upon our current operating plans, we believe that we have sufficient resources to fund operations through the next 12 months with our existing cash, cash equivalents and short-term investments. We will need to secure additional funding in the future, to carry out all our planned research and development activities. If we are unable to obtain additional financing or generate license or product revenue, the lack of liquidity and sufficient capital resources could have a material adverse effect on our future prospects.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates and assumptions.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. We maintain deposits primarily in financial institutions, which may at times exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). We have not experienced any losses related to amounts in excess of FDIC limits.
Short-term Investments	Short-term Investments Short-term investments consist of investments in U.S. government, U.S. agency and U.S. treasury securities. We determine the appropriate classification of the securities at the time they are acquired and evaluate the appropriateness of such classifications at each balance sheet date. We classify our short-term investments as available-for-sale pursuant to Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities
Leases	Leases We account for leases in accordance with ASC 842, Leases Our leases do not have significant rent escalation, holidays, concessions, material residual value guarantees, material restrictive covenants or contingent rent provisions. Our leases include both lease (e.g., fixed payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs), which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. Most leases include one or more options to renew. The exercise of lease renewal options is typically at our sole discretion; therefore, the majority of renewals to extend the lease terms are not included in our right-of-use assets and lease liabilities as they are not reasonably certain of exercise. We regularly evaluate the renewal options and when they are reasonably certain of exercise, we include the renewal period in our lease term. Additional information and disclosures required under ASC 842 is included in Note 7.
Restricted Cash	Restricted Cash In November 2016, the Financial Accounting Standards Board issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash
Loss Per Common Share	Loss Per Common Share We have presented basic and diluted loss per common share on the statement of operations. Basic and diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock and shares underlying “pre-funded” warrants outstanding during the period. At June 30, 2020, 84,781,241 shares of common stock were outstanding. The “pre-funded” warrants are included in the computation of basic net loss per share as the exercise price is negligible and they are fully vested and exercisable. We do not include the potential impact of dilutive securities in diluted net loss per share, as the impact of these items is anti-dilutive. Potential dilutive securities result from outstanding stock options and “non-pre-funded” warrants. We did not include the following potentially dilutive securities in the computation of diluted net loss per common share during the periods presented: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE For the three For the three For the six For the six 2020 2019 2020 2019 Warrants 20,000 1,820,686 20,000 1,820,686 Stock options 7,790,596 6,926,781 7,790,596 6,926,781 Total 7,810,596 8,747,467 7,810,596 8,747,467

NATURE OF OPERATIONS AND SIGN_3

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE	We do not include the potential impact of dilutive securities in diluted net loss per share, as the impact of these items is anti-dilutive. Potential dilutive securities result from outstanding stock options and “non-pre-funded” warrants. We did not include the following potentially dilutive securities in the computation of diluted net loss per common share during the periods presented: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE For the three For the three For the six For the six 2020 2019 2020 2019 Warrants 20,000 1,820,686 20,000 1,820,686 Stock options 7,790,596 6,926,781 7,790,596 6,926,781 Total 7,810,596 8,747,467 7,810,596 8,747,467

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
SCHEDULE OF AVAILABLE-FOR-SALE DEBT SECURITIES HELD	The following table summarizes the available-for-sale debt securities held: SCHEDULE OF AVAILABLE-FOR-SALE DEBT SECURITIES HELD Description June 30, 2020 December 31, 2019 U.S. government and agency securities and treasuries $ 93,337,000 $

LICENSED TECHNOLOGY (Tables)

LICENSED TECHNOLOGY (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF LICENSED TECHNOLOGY	Licensed technology consists of the following: SCHEDULE OF LICENSED TECHNOLOGY June 30, 2020 December 31, 2019 Licensed technology $ 2,606,000 $ 42,606,000 Less accumulated amortization 682,000 6,428,000 Licensed technology, net $ 1,924,000 $ 36,178,000
SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS	The aggregate estimated amortization expense for intangible assets remaining as of June 30, 2020 is as follows: SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS June 30, 2020 2020, remainder $ 86,000 2021 174,000 2022 174,000 2023 174,000 2024 174,000 Thereafter 1,142,000 Total $ 1,924,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS	Financial assets and liabilities measured at fair value on a recurring and non-recurring basis as of June 30, 2020 and December 31, 2019 are summarized below: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS Description June 30, 2020 Level 1 Level 2 Level 3 Recurring Assets: Short-term investments $ 93,337,000 $ $ 93,337,000 $ - Non-recurring Assets: Licensed technology, net $ 1,924,000 $ - $ - $ 1,924,000 Goodwill 32,466,000 - - 32,466,000 Description December 31, 2019 Level 1 Level 2 Level 3 Non-recurring Assets: Licensed technology, net $ 36,178,000 $ $ $ 36,178,000 Goodwill 32,466,000 - - 32,466,000

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
SCHEDULE OF STOCK BASED COMPENSATION	The following table summarizes stock option-based compensation for the three and six months ended June 30, 2020 and 2019: SCHEDULE OF STOCK BASED COMPENSATION For the three For the three For the six For the six 2020 2019 2020 2019 Research and development $ 871,000 $ 1,009,000 $ 1,615,000 $ 2,041,000 General and administrative 707,000 669,000 1,219,000 1,740,000 Stock option-based compensation expense included in operating expense 1,578,000 1,678,000 2,834,000 3,781,000 Total stock option-based compensation expense 1,578,000 1,678,000 2,834,000 3,781,000 Tax benefit - - - - Stock option-based compensation expense, net of tax $ 1,578,000 $ 1,678,000 $ 2,834,000 $ 3,781,000
SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED	We used the following weighted-average assumptions to estimate the fair value of the options granted for the periods indicated: SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED For the three For the three For the six For the six 2020 2019 2020 2019 Expected volatility 111% 108% 111% 108% Expected term 6.25 5 6.25 5 Risk-free interest rate 0.23% 2.21% 0.30% 2.24% Expected dividend yield 0% 0% 0% 0%
SCHEDULE OF OPTIONS ACTIVITY	The following table summarizes the options granted for the periods indicated: SCHEDULE OF OPTIONS ACTIVITY For the three For the three For the six For the six 2020 2019 2020 2019 Options granted 1,897,119 1,183,890 3,073,046 1,384,890 Weighted-average: Exercise price $ 2.83 $ 6.86 $ 2.30 $ 6.84 Grant date fair value $ 2.36 $ 5.39 $ 1.92 $ 5.37
SCHEDULE OF RESTRICTED COMMON STOCK SHARE-BASED COMPENSATION	SCHEDULE OF RESTRICTED COMMON STOCK SHARE-BASED COMPENSATION For the three For the three For the six For the six 2020 2019 2020 2019 Research and development $ 147,000 $ - $ 472,000 $ - General and administrative 40,000 78,000 179,000 250,000 Restricted stock-based compensation expense included in operating expense 187,000 78,000 651,000 250,000 Total restricted stock-based compensation expense 187,000 78,000 651,000 250,000 Tax benefit - - - - Restricted stock-based compensation expense, net of tax $ 187,000 $ 78,000 $ 651,000 $ 250,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF COMPONENTS OF LEASE COST	Components of lease cost are as follows: SCHEDULE OF COMPONENTS OF LEASE COST For the three For the three For the six For the six 2020 2019 2020 2019 Operating lease cost $ 434,000 $ 434,000 $ 868,000 $ 723,000 Variable lease cost $ 92,000 $ 86,000 $ 175,000 $ 159,000 Short-term lease cost $ 6,000 $ 34,000 $ 24,000 $ 81,000
SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES	The following table presents information about the amount and timing of cash flows arising from operating leases as of June 30, 2020: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES Maturity of lease liabilities: 2020, remainder $ 851,000 2021 1,713,000 2022 1,727,000 2023 1,741,000 2024 1,781,000 Thereafter 1,885,000 Total undiscounted operating lease payments 9,698,000 Less: imputed interest 2,224,000 Present value of operating lease liabilities $ 7,474,000 Balance sheet classification: Current portion of lease liability $ 1,706,000 Long-term lease liability 5,768,000 Total operating lease liabilities $ 7,474,000 Other information: Weighted-average remaining lease term for operating leases 67 Weighted-average discount rate for operating leases 9.6%

SCHEDULE OF ANTIDILUTIVE SECURI

SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	7,810,596	8,747,467	7,810,596	8,747,467
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	20,000	1,820,686	20,000	1,820,686
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	7,790,596	6,926,781	7,790,596	6,926,781

NATURE OF OPERATIONS AND SIGN_4

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash, cash equivalents and short-term investments	$ 107,900,000
Net assets	121,100,000
Net cash used in operating activities	$ 22,707,000	$ 30,320,000
Common stock, shares outstanding	84,781,241		83,622,135

SCHEDULE OF AVAILABLE-FOR-SALE

SCHEDULE OF AVAILABLE-FOR-SALE DEBT SECURITIES HELD (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
U.S. government and agency securities and treasuries	$ 93,337,000

SHORT-TERM INVESTMENTS (Details

SHORT-TERM INVESTMENTS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Available-for-sale, Amortized Cost		$ 93,204,000
Available-for-sale Securities, Gross Realized Gain (Loss)	$ 0

SCHEDULE OF LICENSED TECHNOLOGY

SCHEDULE OF LICENSED TECHNOLOGY (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Licensed technology	$ 2,606,000	$ 42,606,000
Less accumulated amortization	682,000	6,428,000
Licensed technology, net	$ 1,924,000	$ 36,178,000

SCHEDULE OF AMORTIZATION EXPENS

SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020, remainder	$ 86,000
2021	174,000
2022	174,000
2023	174,000
2024	174,000
Thereafter	1,142,000
Total	$ 1,924,000	$ 36,178,000

LICENSED TECHNOLOGY (Details Na

LICENSED TECHNOLOGY (Details Narrative) - USD ($)	Apr. 02, 2020	Nov. 04, 2018	May 15, 2015	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Apr. 17, 2020	Dec. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Due to licensor current				$ 28,800,000			$ 28,800,000			$ 27,400,000
Guaranteed and payable	$ 20,000,000
Royalties payments	$ 8,000,000
License to be paid		$ 3,000,000							$ 8,000,000
Interest payable		1,000,000
Debt Instrument, Maturity Date	Nov. 4, 2020
Debt Instrument, Periodic Payment, Principal							28,000,000
Debt Instrument, Increase, Accrued Interest							800,000
Non-cash licensed technology impairment charge					$ 32,900,000		32,916,000
Amortization of intangible assets				$ 44,000		$ 1,293,000	1,338,000	$ 2,638,000
Abeona Therapeutics LLC [Member]
Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life			20 years
Original License Agreements [Member]
Indefinite-lived Intangible Assets [Line Items]
License to be paid		10,000,000
Amended Agreements [Member] | April 1, 2020 [Member]
Indefinite-lived Intangible Assets [Line Items]
License to be paid		8,000,000
REGENXBIO [Member]
Indefinite-lived Intangible Assets [Line Items]
Due remains value							$ 28,000,000
REGENXBIO [Member] | Licensing Agreements [Member]
Indefinite-lived Intangible Assets [Line Items]
Royalty fees		180,000,000
Guaranteed upfront payment		20,000,000
Payment on Execution of Contracts		10,000,000
Due to licensor current		10,000,000
Guaranteed and payable		20,000,000
Royalties payments		$ 60,000,000
Finite-lived intangible asset, useful life		8 years
REGENXBIO [Member] | Licensing Agreements [Member] | Maximum [Member]
Indefinite-lived Intangible Assets [Line Items]
Annual fees		$ 100,000,000

SCHEDULE OF FAIR VALUE, ASSETS

SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Short Term Investment [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets	$ 93,337,000
Short Term Investment [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets
Short Term Investment [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets	93,337,000
Short Term Investment [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets
Licensed Technology Net [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets
Licensed Technology Net [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets
Licensed Technology Net [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets	1,924,000	36,178,000
Licensed Technology Net [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets	1,924,000	36,178,000
Goodwill [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets
Goodwill [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets
Goodwill [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets	32,466,000	32,466,000
Goodwill [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets	$ 32,466,000	$ 32,466,000

LOAN PAYABLE (Details Narrative

LOAN PAYABLE (Details Narrative) $ in Millions	May 02, 2020USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Paycheck Protection Program [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Loan Originations	$ 1.8

SCHEDULE OF STOCK BASED COMPENS

SCHEDULE OF STOCK BASED COMPENSATION (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,578,000	$ 1,678,000	$ 2,834,000	$ 3,781,000
Tax benefit
Stock based compensation expense, net of tax	1,578,000	1,678,000	2,834,000	3,781,000
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,578,000	1,678,000	2,834,000	3,781,000
Share-based Payment Arrangement, Option [Member] | Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	871,000	1,009,000	1,615,000	2,041,000
Share-based Payment Arrangement, Option [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 707,000	$ 669,000	$ 1,219,000	$ 1,740,000

SCHEDULE OF WEIGHTED-AVERAGE AS

SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Expected volatility	111.00%	108.00%	111.00%	108.00%
Expected term	6 years 3 months	5 years	6 years 3 months	5 years
Risk-free interest rate	0.23%	2.21%	0.30%	2.24%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%

SCHEDULE OF OPTIONS ACTIVITY (D

SCHEDULE OF OPTIONS ACTIVITY (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Options granted	1,897,119	1,183,890	3,073,046	1,384,890
Weighted-average: Exercise price	$ 2.83	$ 6.86	$ 2.30	$ 6.84
Weighted-average: Grant date fair value	$ 2.36	$ 5.39	$ 1.92	$ 5.37

SCHEDULE OF RESTRICTED COMMON S

SCHEDULE OF RESTRICTED COMMON STOCK SHARE-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,578,000	$ 1,678,000	$ 2,834,000	$ 3,781,000
Tax benefit
Stock based compensation expense, net of tax	1,578,000	1,678,000	2,834,000	3,781,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	187,000	78,000	651,000	250,000
Tax benefit
Stock based compensation expense, net of tax	187,000	78,000	651,000	250,000
Restricted Stock [Member] | Restricted Stock Based Compensation Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	187,000	78,000	651,000	250,000
Restricted Stock [Member] | Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	147,000		472,000
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 40,000	$ 78,000	$ 179,000	$ 250,000

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details Narrative) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Issuance of common stock in connection with restricted share awards, shares	1,083,313	1,083,313

SCHEDULE OF COMPONENTS OF LEASE

SCHEDULE OF COMPONENTS OF LEASE COST (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 434,000	$ 434,000	$ 868,000	$ 723,000
Variable lease cost	92,000	86,000	175,000	159,000
Short-term lease cost	$ 6,000	$ 34,000	$ 24,000	$ 81,000

SCHEDULE OF SUPPLEMENTAL CASH F

SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
2020, remainder	$ 851,000
2021	1,713,000
2022	1,727,000
2023	1,741,000
2024	1,781,000
Thereafter	1,885,000
Total undiscounted operating lease payments	9,698,000
Less: imputed interest	2,224,000
Total operating lease liabilities	7,474,000
Current portion of lease liability	1,706,000	$ 1,699,000
Long-term lease liability	$ 5,768,000	$ 6,251,000
Weighted-average remaining lease term for operating leases	67 months
Weighted-average discount rate for operating leases	9.60%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Product Liability Contingency [Line Items]
Operating lease, term of contract	non-cancelable lease term of less than one year
Debt Instrument, Periodic Payment, Principal	$ 28,000,000
Debt Instrument, Increase, Accrued Interest	$ 800,000
RDEB Product [Member]
Product Liability Contingency [Line Items]
Contract manufacturer commitment		$ 6,300,000