Abeona Therapeutics (ABEO) 10-Q 9 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Nov. 02, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Period Focus	Q3
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		98,527,723

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 8,424,000	$ 129,258,000
Receivables	7,000,000
Short-term investments	88,447,000
Prepaid expenses and other current assets	689,000	3,132,000
Total current assets	104,560,000	132,390,000
Property and equipment, net	12,095,000	13,157,000
Right-of-use lease assets	7,295,000	8,047,000
Licensed technology, net	1,881,000	36,178,000
Goodwill	32,466,000	32,466,000
Other assets and restricted cash	1,068,000	1,144,000
Total assets	159,365,000	223,382,000
Current liabilities:
Accounts payable	1,262,000	3,763,000
Accrued expenses	3,585,000	5,543,000
Loan payable	1,758,000
Current portion of lease liability	1,709,000	1,699,000
Payable to licensor	30,127,000	27,400,000
Deferred revenue	296,000	296,000
Total current liabilities	38,737,000	38,701,000
Long-term lease liabilities	5,517,000	6,251,000
Total liabilities	44,254,000	44,952,000
Commitments and contingencies
Stockholders’ equity:
Common stock - $0.01 par value; authorized 200,000,000 shares; issued and outstanding 84,516,161 at September 30, 2020 and 83,622,135 at December 31, 2019	845,000	836,000
Additional paid-in capital	669,125,000	664,064,000
Accumulated deficit	(554,876,000)	(486,470,000)
Accumulated other comprehensive income	17,000
Total stockholders’ equity	115,111,000	178,430,000
Total liabilities and stockholders’ equity	$ 159,365,000	$ 223,382,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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	84,516,161	83,622,135
Common stock, shares outstanding	84,516,161	83,622,135

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
License and other revenues	$ 7,000,000		$ 7,000,000
Expenses:
Research and development	7,969,000	10,917,000	20,896,000	38,961,000
General and administrative	4,432,000	4,700,000	16,382,000	15,971,000
Depreciation and amortization	847,000	2,032,000	3,746,000	5,747,000
Licensed technology impairment charge			32,916,000
Total expenses	13,248,000	17,649,000	73,940,000	60,679,000
Loss from operations	(6,248,000)	(17,649,000)	(66,940,000)	(60,679,000)
Interest and miscellaneous income	338,000	277,000	1,261,000	828,000
Interest and other expense	(1,327,000)		(2,727,000)
Net loss	$ (7,237,000)	$ (17,372,000)	$ (68,406,000)	$ (59,851,000)
Basic and diluted loss per common share	$ (0.08)	$ (0.35)	$ (0.73)	$ (1.22)
Weighted average number of common shares outstanding – basic and diluted	93,772,712	49,721,753	93,199,679	48,883,883
Other comprehensive income/(loss):
Change in unrealized (losses) gains related to available-for-sale debt securities	$ (116,000)		$ 17,000
Comprehensive loss	$ (7,353,000)	$ (17,372,000)	$ (68,389,000)	$ (59,851,000)

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		5,607,000			5,607,000
Restricted stock-based compensation expense		348,000			348,000
Issuance of common stock in connection with restricted share awards	$ 4,000	(4,000)
Issuance of common stock in connection with restricted share awards, shares	376,625
Common stock issued for cash under open market sale agreement	$ 32,000	16,930,000			16,962,000
Common stock issued for cash under open market sale agreement, shares	3,086,950
Common stock issued for cash exercise of options	$ 1,000	412,000			413,000
Common stock issued for cash exercise of options, shares	96,334
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)
Net loss			(59,851,000)		(59,851,000)
Other comprehensive income
Ending balance, value at Sep. 30, 2019	$ 511,000	565,580,000	(470,039,000)		96,052,000
Ending balance, shares at Sep. 30, 2019	51,054,395
Beginning balance, value at Jun. 30, 2019	$ 492,000	559,335,000	(452,667,000)		107,160,000
Beginning balance, shares at Jun. 30, 2019	49,249,497
Stock option-based compensation expense		1,826,000			1,826,000
Restricted stock-based compensation expense		98,000			98,000
Issuance of common stock in connection with restricted share awards	$ 4,000	(4,000)
Issuance of common stock in connection with restricted share awards, shares	376,625
Common stock issued for cash under open market sale agreement	$ 15,000	4,325,000			4,340,000
Common stock issued for cash under open market sale agreement, shares	1,428,273
Net loss			(17,372,000)		(17,372,000)
Other comprehensive income
Ending balance, value at Sep. 30, 2019	$ 511,000	565,580,000	(470,039,000)		96,052,000
Ending balance, shares at Sep. 30, 2019	51,054,395
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		4,083,000			4,083,000
Restricted stock-based compensation expense		812,000			812,000
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, net of cancellations	$ 8,000	(8,000)
Issuance of common stock in connection with restricted share awards, net of cancellations, shares	818,233
Net loss			(68,406,000)		(68,406,000)
Other comprehensive income				17,000	17,000
Ending balance, value at Sep. 30, 2020	$ 845,000	669,125,000	(554,876,000)	17,000	115,111,000
Ending balance, shares at Sep. 30, 2020	84,516,161
Beginning balance, value at Jun. 30, 2020	$ 848,000	667,712,000	(547,639,000)	133,000	121,054,000
Beginning balance, shares at Jun. 30, 2020	84,781,241
Stock option-based compensation expense		1,249,000			1,249,000
Restricted stock-based compensation expense		161,000			161,000
Cancellation of restricted share awards	$ (3,000)	3,000
Cancellation of restricted share awards, shares	(265,080)
Issuance of common stock in connection with restricted share awards, shares
Net loss			(7,237,000)		(7,237,000)
Other comprehensive income				(116,000)	(116,000)
Ending balance, value at Sep. 30, 2020	$ 845,000	$ 669,125,000	$ (554,876,000)	$ 17,000	$ 115,111,000
Ending balance, shares at Sep. 30, 2020	84,516,161

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (68,406,000)	$ (59,851,000)
Adjustments to reconcile net loss to cash used in operating activities:
Non-cash licensed technology impairment charge	32,916,000
Depreciation and amortization	3,746,000	5,747,000
Stock option-based compensation expense	4,083,000	5,607,000
Restricted stock-based compensation expense	812,000	348,000
Non-cash interest expense	600,000
Accretion and interest on short-term investments	(237,000)	(1,090,000)
Accretion of right-of-use lease assets	752,000	619,000
Non-cash loss on arbitration ruling on licensing agreement		367,000
Change in operating assets and liabilities:
Receivables	(7,000,000)	66,000
Prepaid expenses and other current assets	2,443,000	2,148,000
Other assets	(62,000)	4,000
Accounts payable, accrued expenses and lease liabilities	(5,183,000)	(2,539,000)
Change in payable to licensor	2,127,000
Net cash used in operating activities	(33,409,000)	(48,574,000)
Cash flows from investing activities:
Capital expenditures	(1,303,000)	(6,187,000)
Acquisition of licensed technology		(199,000)
Purchases of short-term investments	(139,230,000)
Proceeds from maturities of short-term investments	51,037,000	67,308,000
Net cash (used in)/provided by investing activities	(89,496,000)	60,922,000
Cash flows from financing activities:
Proceeds from loan payable	1,758,000
Proceeds from open market sales of common stock		16,962,000
Proceeds from exercise of stock options	175,000	413,000
Net cash provided by financing activities	1,933,000	17,375,000
Net (decrease)/increase in cash, cash equivalents and restricted cash	(120,972,000)	29,723,000
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	9,396,000	49,033,000
Supplemental cash flow information:
Cash and cash equivalents	8,424,000	47,923,000
Restricted cash	972,000	1,110,000
Total cash, cash equivalents and restricted cash	9,396,000	49,033,000
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	9 Months Ended
	Sep. 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 CLN3 form 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 September 30, 2020 and the condensed consolidated statements of operations and comprehensive loss, stockholders’ equity and cash flows for the three and nine months ended September 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 September 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 September 30, 2020, we had cash, cash equivalents, receivables and short-term investments of $ 103.9 115.1 33.4 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. In October 2020, the Company announced that it had retained Jefferies LLC as its financial advisor to assist with the review of strategic options focused on advancing the Company’s mission and maximizing stockholder value. In an effort to unlock potential additional value, the Company initiated this formal process to explore a broad range of strategic alternatives, including but not limited to the partnering of its various clinical and pre-clinical programs, or a sale or merger of the Company. 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. Receivables Receivables are reported at net realizable value. We continually evaluate the creditworthiness of our customers and their financial condition and generally do not require collateral. The need for an allowance for doubtful accounts is based upon reviews of specific customer balances, historic losses, and general economic conditions. As of September 30, 2020, no allowance was recorded as the receivables are considered collectible. There were no receivables outstanding as of December 31, 2019. 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 8. Restricted Cash In November 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Revenue Recognition We account for contracts with customers in accordance with ASC 606, Revenue from Contracts with Customers 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 September 30, 2020, 84,516,161 There were 9,017,055 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 months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 “Non-pre-funded” warrants - 1,820,686 - 1,820,686 Stock options 6,431,183 6,697,980 6,431,183 6,697,980 Total 6,431,183 8,518,666 6,431,183 8,518,666 "Non-pre-funded" Warrants [Member]

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
SHORT-TERM INVESTMENTS	NOTE 2 – SHORT-TERM INVESTMENTS The following table summarizes the carrying value of the available-for-sale debt securities held: SCHEDULE OF AVAILABLE-FOR-SALE DEBT SECURITIES HELD Description September 30, 2020 December 31, 2019 U.S. government and agency securities and treasuries $ 88,447,000 $ The amortized cost of the available-for-sale debt securities, which is adjusted for amortization of premiums and accretion of discounts to maturity, was $ 88,430,000 as of September 30, 2020. There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale debt securities during the nine months ended September 30, 2020 or 2019.

LICENSED TECHNOLOGY

LICENSED TECHNOLOGY	9 Months Ended
	Sep. 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 to be 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 was to remain payable if the agreement were 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) that would have been due no later than April 1, 2020. That $ 8 million payment had been scheduled to be paid by April 1, 2020 and the $ 20 million that had been due to be paid on November 4, 2020 were recorded as payable to licensor on the consolidated balance sheet. As discussed below, the Company has disputed that it is responsible for the $ 8 million and $ 20 million payments, and those payments are the subject of a current arbitration between the Company and REGENXBIO, as further discussed below. 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 8 May 2, 2020 28 2.1 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 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 Licensed technology consists of the following: SCHEDULE OF LICENSED TECHNOLOGY September 30, 2020 December 31, 2019 Licensed technology $ 2,606,000 $ 42,606,000 Less accumulated amortization 725,000 6,428,000 Licensed technology, net $ 1,881,000 $ 36,178,000 The aggregate estimated amortization expense for intangible assets remaining as of September 30, 2020 is as follows: SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS Sep 30, 20 2020, remainder $ 43,000 2021 174,000 2022 174,000 2023 174,000 2024 174,000 Thereafter 1,142,000 Total $ 1,881,000 Amortization of licensed technology was $ 43,000 1,381,000 1,293,000 3,931,000

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 are summarized below: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS Description September 30, 2020 Level 1 Level 2 Level 3 Recurring Assets: Short-term investments $ 88,447,000 $ - $ 88,447,000 $ - Non-recurring Assets: Licensed technology, net $ 1,881,000 $ - $ - $ 1,881,000 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	9 Months Ended
	Sep. 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 1

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 6 – REVENUE FROM CONTRACTS WITH CUSTOMERS On August 14, 2020, we entered into sublicense and inventory purchase agreements with Taysha Gene Therapies (“Taysha”) relating to a potential gene therapy for CLN1 disease. Under the sublicense agreement, Taysha received worldwide exclusive rights to intellectual property and know-how relating to the research, development and manufacture of the potential gene therapy, which we had referred to as ABO-202. Under the inventory purchase agreement, we sold to Taysha certain inventory and other items related to ABO-202. We assessed these contracts at contract inception and determined that, under ASC 606, the two contracts would be combined and accounted for a single contract, with a single performance obligation. We assessed the nature of the promised license to determine whether the license has significant stand-alone functionality and evaluated whether such functionality can be retained without ongoing activities of the entity and determined that the license has significant stand-alone functionality. Furthermore, we have no ongoing activities associated with the license to support or maintain the license’s utility. Based on this, we determined that the pattern of transfer of control of the license to the customer was at a point in time. The transaction price of the contract includes (i) $ 7.0 26.0 30.0 Under this arrangement, we recognized $ 7.0 million of revenue during the three months ended September 30, 2020, which amount related solely to fixed consideration. In addition, we have $ 7.0 million of related accounts receivable at September 30, 2020; this receivable was paid by Taysha in October 2020. We do not have any contract assets or contract liabilities as a result of this transaction.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 7 – STOCK-BASED COMPENSATION Stock Options: The following table summarizes stock option-based compensation for the three and nine months ended September 30, 2020 and 2019: SCHEDULE OF STOCK BASED COMPENSATION For the three months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Research and development $ 765,000 $ 972,000 $ 2,380,000 $ 3,013,000 General and administrative 484,000 854,000 1,703,000 2,594,000 Stock option-based compensation expense included in operating expense 1,249,000 1,826,000 4,083,000 5,607,000 Total stock option-based compensation expense 1,249,000 1,826,000 4,083,000 5,607,000 Tax benefit - - - - Stock option-based compensation expense, net of tax $ 1,249,000 $ 1,826,000 $ 4,083,000 $ 5,607,000 Stock Option [Member] We estimate the fair value of each option award on the date of grant using the Black-Scholes option valuation model. We then recognize the grant date fair value of each option as compensation expense ratably using the straight-line attribution method over the service period (generally the vesting period). The Black-Scholes model incorporates the following assumptions: ● 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 months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Expected volatility 110% 103% 111% 108% Expected term 6.25 6.25 6.25 5.09 Risk-free interest rate 0.16% 1.83% 0.29 2.21 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 months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Options granted 342,100 105,600 3,415,146 1,490,490 Weighted-average: Exercise price $ 3.08 $ 2.58 $ 2.38 $ 6.53 Grant date fair value $ 2.56 $ 2.09 $ 1.99 $ 5.14 Restricted Common Stock The following table summarizes restricted common stock compensation expense for the three and nine months ended September 30, 2020 and 2019: SCHEDULE OF STOCK BASED COMPENSATION For the three months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Research and development $ 89,000 $ 66,000 $ 561,000 $ 66,000 General and administrative 72,000 32,000 251,000 282,000 Restricted stock-based compensation expense included in operating expense 161,000 98,000 812,000 348,000 Total restricted stock-based compensation expense 161,000 98,000 812,000 348,000 Tax benefit - - - - Restricted stock-based compensation expense, net of tax $ 161,000 $ 98,000 $ 812,000 $ 348,000 We granted 818,233 265,080 376,625

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 – COMMITMENTS AND CONTINGENCIES 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 (which has now been sold to Taysha Gene Therapies, as discussed in Note 6 above), 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 ($ 2.1 million as of September 30, 2020). REGENXBIO disputes our arbitration claim and has filed a counterclaim seeking payment of these amounts. Under the current schedule, the arbitration is expected to be completed in the first half of 2021. 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 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 Components of lease cost are as follows: SCHEDULE OF COMPONENTS OF LEASE COST For the three months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Operating lease cost $ 434,000 $ 434,000 $ 1,302,000 $ 1,157,000 Variable lease cost $ 81,000 $ 82,000 $ 256,000 $ 241,000 Short-term lease cost $ 19,000 $ 32,000 $ 43,000 $ 113,000 The following table presents information about the amount and timing of cash flows arising from operating leases as of September 30, 2020: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES Maturity of lease liabilities: 2020, remainder $ 425,000 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 9,272,000 Less: imputed interest 2,046,000 Present value of operating lease liabilities $ 7,226,000 Balance sheet classification: Current portion of lease liability $ 1,709,000 Long-term lease liability 5,517,000 Total operating lease liabilities $ 7,226,000 Other information: Weighted-average remaining lease term for operating leases 64 Weighted-average discount rate for operating leases 9.6%

NATURE OF OPERATIONS AND SIGN_2

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 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 CLN3 form 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 September 30, 2020 and the condensed consolidated statements of operations and comprehensive loss, stockholders’ equity and cash flows for the three and nine months ended September 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 September 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 September 30, 2020, we had cash, cash equivalents, receivables and short-term investments of $ 103.9 115.1 33.4 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. In October 2020, the Company announced that it had retained Jefferies LLC as its financial advisor to assist with the review of strategic options focused on advancing the Company’s mission and maximizing stockholder value. In an effort to unlock potential additional value, the Company initiated this formal process to explore a broad range of strategic alternatives, including but not limited to the partnering of its various clinical and pre-clinical programs, or a sale or merger of the Company.
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.
Receivables	Receivables Receivables are reported at net realizable value. We continually evaluate the creditworthiness of our customers and their financial condition and generally do not require collateral. The need for an allowance for doubtful accounts is based upon reviews of specific customer balances, historic losses, and general economic conditions. As of September 30, 2020, no allowance was recorded as the receivables are considered collectible. There were no receivables outstanding as of December 31, 2019.
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 8.
Restricted Cash	Restricted Cash In November 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash
Revenue Recognition	Revenue Recognition We account for contracts with customers in accordance with ASC 606, Revenue from Contracts with Customers
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 September 30, 2020, 84,516,161 There were 9,017,055 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 months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 “Non-pre-funded” warrants - 1,820,686 - 1,820,686 Stock options 6,431,183 6,697,980 6,431,183 6,697,980 Total 6,431,183 8,518,666 6,431,183 8,518,666 "Non-pre-funded" Warrants [Member]

NATURE OF OPERATIONS AND SIGN_3

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE	SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE For the three months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 “Non-pre-funded” warrants - 1,820,686 - 1,820,686 Stock options 6,431,183 6,697,980 6,431,183 6,697,980 Total 6,431,183 8,518,666 6,431,183 8,518,666 "Non-pre-funded" Warrants [Member]

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
SCHEDULE OF AVAILABLE-FOR-SALE DEBT SECURITIES HELD	The following table summarizes the carrying value of the available-for-sale debt securities held: SCHEDULE OF AVAILABLE-FOR-SALE DEBT SECURITIES HELD Description September 30, 2020 December 31, 2019 U.S. government and agency securities and treasuries $ 88,447,000 $

LICENSED TECHNOLOGY (Tables)

LICENSED TECHNOLOGY (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF LICENSED TECHNOLOGY	Licensed technology consists of the following: SCHEDULE OF LICENSED TECHNOLOGY September 30, 2020 December 31, 2019 Licensed technology $ 2,606,000 $ 42,606,000 Less accumulated amortization 725,000 6,428,000 Licensed technology, net $ 1,881,000 $ 36,178,000
SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS	The aggregate estimated amortization expense for intangible assets remaining as of September 30, 2020 is as follows: SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS Sep 30, 20 2020, remainder $ 43,000 2021 174,000 2022 174,000 2023 174,000 2024 174,000 Thereafter 1,142,000 Total $ 1,881,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 are summarized below: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS Description September 30, 2020 Level 1 Level 2 Level 3 Recurring Assets: Short-term investments $ 88,447,000 $ - $ 88,447,000 $ - Non-recurring Assets: Licensed technology, net $ 1,881,000 $ - $ - $ 1,881,000 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)	9 Months Ended
	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SCHEDULE OF STOCK BASED COMPENSATION	The following table summarizes stock option-based compensation for the three and nine months ended September 30, 2020 and 2019: SCHEDULE OF STOCK BASED COMPENSATION For the three months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Research and development $ 765,000 $ 972,000 $ 2,380,000 $ 3,013,000 General and administrative 484,000 854,000 1,703,000 2,594,000 Stock option-based compensation expense included in operating expense 1,249,000 1,826,000 4,083,000 5,607,000 Total stock option-based compensation expense 1,249,000 1,826,000 4,083,000 5,607,000 Tax benefit - - - - Stock option-based compensation expense, net of tax $ 1,249,000 $ 1,826,000 $ 4,083,000 $ 5,607,000
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 months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Expected volatility 110% 103% 111% 108% Expected term 6.25 6.25 6.25 5.09 Risk-free interest rate 0.16% 1.83% 0.29 2.21 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 months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Options granted 342,100 105,600 3,415,146 1,490,490 Weighted-average: Exercise price $ 3.08 $ 2.58 $ 2.38 $ 6.53 Grant date fair value $ 2.56 $ 2.09 $ 1.99 $ 5.14
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SCHEDULE OF STOCK BASED COMPENSATION	The following table summarizes restricted common stock compensation expense for the three and nine months ended September 30, 2020 and 2019: SCHEDULE OF STOCK BASED COMPENSATION For the three months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Research and development $ 89,000 $ 66,000 $ 561,000 $ 66,000 General and administrative 72,000 32,000 251,000 282,000 Restricted stock-based compensation expense included in operating expense 161,000 98,000 812,000 348,000 Total restricted stock-based compensation expense 161,000 98,000 812,000 348,000 Tax benefit - - - - Restricted stock-based compensation expense, net of tax $ 161,000 $ 98,000 $ 812,000 $ 348,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 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 months ended September 30, For the nine months ended September 30, 2020 2019 2020 2019 Operating lease cost $ 434,000 $ 434,000 $ 1,302,000 $ 1,157,000 Variable lease cost $ 81,000 $ 82,000 $ 256,000 $ 241,000 Short-term lease cost $ 19,000 $ 32,000 $ 43,000 $ 113,000
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 September 30, 2020: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES Maturity of lease liabilities: 2020, remainder $ 425,000 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 9,272,000 Less: imputed interest 2,046,000 Present value of operating lease liabilities $ 7,226,000 Balance sheet classification: Current portion of lease liability $ 1,709,000 Long-term lease liability 5,517,000 Total operating lease liabilities $ 7,226,000 Other information: Weighted-average remaining lease term for operating leases 64 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	6,431,183	8,518,666	6,431,183	8,518,666
"Non-pre-funded" Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	0	1,820,686	0	1,820,686
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	6,431,183	6,697,980	6,431,183	6,697,980

NATURE OF OPERATIONS AND SIGN_4

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Cash, cash equivalents, receivables and short-term investments	$ 103,900,000		$ 103,900,000
Net assets	$ 115,100,000		115,100,000
Net cash used in operating activities			$ 33,409,000	$ 48,574,000
Common stock, shares outstanding	84,516,161		84,516,161		83,622,135
Anti dilutive computation of basic net loss per share	6,431,183	8,518,666	6,431,183	8,518,666
Pre Funded Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive computation of basic net loss per share	9,017,055		9,017,055

SCHEDULE OF AVAILABLE-FOR-SALE

SCHEDULE OF AVAILABLE-FOR-SALE DEBT SECURITIES HELD (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
U.S. government and agency securities and treasuries	$ 88,447,000

SHORT-TERM INVESTMENTS (Details

SHORT-TERM INVESTMENTS (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Available-for-sale, Amortized Cost		$ 88,430,000
Available-for-sale Securities, Gross Realized Gain (Loss)	$ 0

SCHEDULE OF LICENSED TECHNOLOGY

SCHEDULE OF LICENSED TECHNOLOGY (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Licensed technology	$ 2,606,000	$ 42,606,000
Less accumulated amortization	725,000	6,428,000
Licensed technology, net	$ 1,881,000	$ 36,178,000

SCHEDULE OF AMORTIZATION EXPENS

SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020, remainder	$ 43,000
2021	174,000
2022	174,000
2023	174,000
2024	174,000
Thereafter	1,142,000
Total	$ 1,881,000	$ 36,178,000

LICENSED TECHNOLOGY (Details Na

LICENSED TECHNOLOGY (Details Narrative) - USD ($)	Apr. 17, 2020	Apr. 02, 2020	Nov. 04, 2018	May 15, 2015	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Nov. 04, 2019
Indefinite-lived Intangible Assets [Line Items]
Due to Related Parties, Current					$ 30,127,000			$ 30,127,000		$ 27,400,000
Allocated Share Based Compensation Expense Restricted Stock		$ 20,000,000
Payments for Royalties		$ 8,000,000
License to be paid	$ 8,000,000
Interest Payable			$ 1,000,000
Debt Instrument, Maturity Date		Nov. 4, 2020
License termination date	May 2, 2020
Debt instrument, periodic payment, principal								28,000,000
Debt instrument, increase, accrued interest								2,100,000
Non-cash licensed technology impairment charge						$ 32,900,000		32,916,000
Amortization of intangible assets					43,000		$ 1,293,000	1,381,000	$ 3,931,000
Abeona Therapeutics LLC [Member]
Indefinite-lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life				20 years
Original License Agreement [Member]
Indefinite-lived Intangible Assets [Line Items]
License to be paid											$ 10,000,000
Eb Agreement [Member]
Indefinite-lived Intangible Assets [Line Items]
License to be paid											3,000,000
Eb Agreement [Member] | Non cash Or Part Non cash Acquisition Non cash Financial Or Equity Instrument Consideration Value Of Warrants Issued1
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 Expense			180,000,000
Allocated Share Based Compensation Expense Restricted Stock			20,000,000
IncomeTax Reconciliation Current Year Reserve			10,000,000
Due to Related Parties, Current			10,000,000
Allocated Share Based Compensation Expense Restricted Stock			20,000,000
Payments for Royalties			$ 60,000,000
Finite-Lived Intangible Asset, Useful Life			8 years
Loss Contingency Accrual					$ 8,000,000			8,000,000
Payments for Legal Settlements								$ 20,000,000
REGENXBIO [Member] | Licensing Agreements [Member] | Maximum [Member]
Indefinite-lived Intangible Assets [Line Items]
Debt Instrument, Face Amount			$ 100,000,000

SCHEDULE OF FAIR VALUE, ASSETS

SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS (Details) - USD ($)	Sep. 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	$ 88,447,000
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	88,447,000
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, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of assets	1,881,000	$ 36,178,000
Licensed Technology Net [Member] | Fair Value, Nonrecurring [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, Nonrecurring [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, Nonrecurring [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	1,881,000	36,178,000
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
Goodwill [Member] | Fair Value, Nonrecurring [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, Nonrecurring [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, Nonrecurring [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

LOAN PAYABLE (Details Narrative

LOAN PAYABLE (Details Narrative) - USD ($)	May 02, 2020	Sep. 30, 2020	Sep. 30, 2019
Short-term Debt [Line Items]
Proceeds from loan		$ 1,758,000
Paycheck Protection Program [Member]
Short-term Debt [Line Items]
Proceeds from loan	$ 1,800,000
Debt interest rate	1.00%

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details Narrative) - USD ($)	Aug. 14, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Fixed consideration	$ 7,000,000
Revenue from Contract with Customer, Excluding Assessed Tax		$ 7,000,000		$ 7,000,000
Sublicense Andnventory Purchase Agreements [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Related Parties		7,000,000		$ 7,000,000
Event Based Milestone Payments [Member] | Maximum [Member]
Disaggregation of Revenue [Line Items]
Milestone payments	26,000,000
Sales Based Milestone Payments [Member] | Maximum [Member]
Disaggregation of Revenue [Line Items]
Milestone payments	$ 30,000,000
License [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 7,000,000

SCHEDULE OF STOCK BASED COMPENS

SCHEDULE OF STOCK BASED COMPENSATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense			$ 4,083,000	$ 5,607,000
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense	$ 1,249,000	$ 1,826,000	4,083,000	5,607,000
Tax benefit
Stock option-based compensation expense, net of tax	1,249,000	1,826,000	4,083,000	5,607,000
Stock Option [Member] | Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense	765,000	972,000	2,380,000	3,013,000
Stock Option [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense	484,000	854,000	1,703,000	2,594,000
Stock Option [Member] | Stock Option Based Compensation Expense Included In Operating Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense	1,249,000	1,826,000	4,083,000	5,607,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense	161,000	98,000	812,000	348,000
Tax benefit
Stock option-based compensation expense, net of tax	161,000	98,000	812,000	348,000
Restricted Stock [Member] | Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense	89,000	66,000	561,000	66,000
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense	72,000	32,000	251,000	282,000
Restricted Stock [Member] | Stock Option Based Compensation Expense Included In Operating Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock option-based compensation expense	$ 161,000	$ 98,000	$ 812,000	$ 348,000

SCHEDULE OF WEIGHTED-AVERAGE AS

SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Expected volatility	110.00%	103.00%	111.00%	108.00%
Expected term	6 years 3 months	6 years 3 months	6 years 3 months	5 years 1 month 2 days
Risk-free interest rate	0.16%	1.83%	0.29%	2.21%
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Options granted	342,100	105,600	3,415,146	1,490,490
Weighted-average: Exercise price	$ 3.08	$ 2.58	$ 2.38	$ 6.53
Weighted-average: Grant date fair value	$ 2.56	$ 2.09	$ 1.99	$ 5.14

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details Narrative) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Issuance of common stock in connection with restricted share awards, shares	265,080	376,625	818,233	376,625

SCHEDULE OF COMPONENTS OF LEASE

SCHEDULE OF COMPONENTS OF LEASE COST (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 434,000	$ 434,000	$ 1,302,000	$ 1,157,000
Variable lease cost	81,000	82,000	256,000	241,000
Short-term lease cost	$ 19,000	$ 32,000	$ 43,000	$ 113,000

SCHEDULE OF SUPPLEMENTAL CASH F

SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
2020, remainder	$ 425,000
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	9,272,000
Less: imputed interest	2,046,000
Present value of operating lease liabilities	7,226,000
Current portion of lease liability	1,709,000	$ 1,699,000
Long-term lease liability	$ 5,517,000	$ 6,251,000
Weighted-average remaining lease term for operating leases	64 months
Weighted-average discount rate for operating leases	9.60%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020
Product Liability Contingency [Line Items]
Debt Instrument, Periodic Payment, Principal	$ 28
Debt Instrument, Increase, Accrued Interest	$ 2.1
Operating lease, term of contract	non-cancelable lease term of less than one year
RDEB Product [Member]
Product Liability Contingency [Line Items]
Debt Instrument, Periodic Payment, Principal	$ 28
Debt Instrument, Increase, Accrued Interest	$ 2.1
Contract manufacturer commitment		$ 6.3