Abeona Therapeutics (ABEO) 10-Q 28 Jul 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Jul. 21, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
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	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		101,227,014

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 27,179,000	$ 12,596,000
Short-term investments	50,380,000	82,438,000
Prepaid expenses and other current assets	1,321,000	2,708,000
Total current assets	78,880,000	97,742,000
Property and equipment, net	10,240,000	11,322,000
Right-of-use lease assets	6,489,000	7,032,000
Licensed technology, net	1,442,000	1,500,000
Goodwill	32,466,000	32,466,000
Other assets and restricted cash	1,158,000	1,136,000
Total assets	130,675,000	151,198,000
Current liabilities:
Accounts payable	1,469,000	4,695,000
Accrued expenses	2,190,000	3,410,000
Current portion of lease liability	1,720,000	1,713,000
Current portion of loan payable	1,758,000	330,000
Payable to licensor	34,434,000	31,515,000
Contract liability	296,000	296,000
Total current liabilities	41,867,000	41,959,000
Loan payable		1,428,000
Long-term lease liabilities	4,722,000	5,260,000
Total liabilities	46,589,000	48,647,000
Commitments and contingencies
Stockholders’ equity:
Common stock - $0.01 par value; authorized 200,000,000 shares; issued and outstanding 101,251,023 at June 30, 2021; issued and outstanding 96,131,678 at December 31, 2020;	1,013,000	961,000
Additional paid-in capital	684,987,000	672,304,000
Accumulated deficit	(601,913,000)	(570,704,000)
Accumulated other comprehensive loss	(1,000)	(10,000)
Total stockholders’ equity	84,086,000	102,551,000
Total liabilities and stockholders’ equity	$ 130,675,000	$ 151,198,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
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	101,251,023	96,131,678
Common stock, shares outstanding	101,251,023	96,131,678

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenues
Expenses:
Research and development	7,434,000	6,109,000	14,646,000	12,927,000
General and administrative	5,457,000	5,538,000	12,025,000	11,950,000
Depreciation and amortization	824,000	834,000	1,641,000	2,899,000
Licensed technology impairment charge				32,916,000
Total expenses	13,715,000	12,481,000	28,312,000	60,692,000
Loss from operations	(13,715,000)	(12,481,000)	(28,312,000)	(60,692,000)
Interest and miscellaneous income	8,000	271,000	23,000	923,000
Interest expense	(1,500,000)	(800,000)	(2,920,000)	(1,400,000)
Net loss	$ (15,207,000)	$ (13,010,000)	$ (31,209,000)	$ (61,169,000)
Basic and diluted loss per common share	$ (0.16)	$ (0.14)	$ (0.33)	$ (0.66)
Weighted average number of common shares outstanding – basic and diluted	96,509,783	92,704,203	95,378,503	92,533,354
Other comprehensive (loss)/income:
Change in unrealized (losses)/gains related to available-for-sale debt securities	$ (4,000)	$ (253,000)	$ 9,000	$ 133,000
Comprehensive loss	$ (15,211,000)	$ (13,263,000)	$ (31,200,000)	$ (61,036,000)

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, 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		2,834,000			2,834,000
Restricted stock-based compensation expense		651,000			651,000
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
Net loss			(61,169,000)		(61,169,000)
Other comprehensive income (loss)				133,000	133,000
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
Net loss			(13,010,000)		(13,010,000)
Other comprehensive income (loss)				(253,000)	(253,000)
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 Dec. 31, 2020	$ 961,000	672,304,000	(570,704,000)	(10,000)	102,551,000
Beginning balance, shares at Dec. 31, 2020	96,131,678
Stock option-based compensation expense		2,410,000			2,410,000
Restricted stock-based compensation expense		1,968,000			1,968,000
Common stock issued for cash exercise of options	$ 5,000	686,000			691,000
Common stock issued for cash exercise of options, shares	508,725
Issuance of common stock in connection with restricted share awards	$ 15,000	(15,000)
Issuance of common stock in connection with restricted share awards, shares	1,547,075
Common stock issued for cash under open market sale agreement	$ 32,000	7,634,000			7,666,000
Common stock issued for cash under open market sale agreement, shares	3,063,545
Net loss			(31,209,000)		(31,209,000)
Other comprehensive income (loss)				9,000	9,000
Ending balance, value at Jun. 30, 2021	$ 1,013,000	684,987,000	(601,913,000)	(1,000)	84,086,000
Ending balance, shares at Jun. 30, 2021	101,251,023
Beginning balance, value at Mar. 31, 2021	$ 990,000	680,103,000	(586,706,000)	3,000	94,390,000
Beginning balance, shares at Mar. 31, 2021	99,038,933
Stock option-based compensation expense		1,327,000			1,327,000
Restricted stock-based compensation expense		1,101,000			1,101,000
Common stock issued for cash exercise of options		24,000			24,000
Common stock issued for cash exercise of options, shares	20,521
Issuance of common stock in connection with restricted share awards	$ 7,000	(7,000)
Issuance of common stock in connection with restricted share awards, shares	706,348
Common stock issued for cash under open market sale agreement	$ 16,000	2,439,000			2,455,000
Common stock issued for cash under open market sale agreement, shares	1,485,221
Net loss			(15,207,000)		(15,207,000)
Other comprehensive income (loss)				(4,000)	(4,000)
Ending balance, value at Jun. 30, 2021	$ 1,013,000	$ 684,987,000	$ (601,913,000)	$ (1,000)	$ 84,086,000
Ending balance, shares at Jun. 30, 2021	101,251,023

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (15,207,000)	$ (13,010,000)	$ (31,209,000)	$ (61,169,000)
Adjustments to reconcile net loss to cash used in operating activities:
Non-cash licensed technology impairment charge				32,916,000
Depreciation and amortization	824,000	834,000	1,641,000	2,899,000
Stock option-based compensation expense			2,410,000	2,834,000
Restricted stock-based compensation expense			1,968,000	651,000
Non-cash interest expense				600,000
Accretion and interest on short-term investments			266,000	(156,000)
Amortization of right-of-use lease assets			543,000	496,000
Change in operating assets and liabilities:
Prepaid expenses and other current assets			1,387,000	2,208,000
Other assets			(22,000)
Accounts payable, accrued expenses and lease liabilities			(4,977,000)	(4,786,000)
Change in payable to licensor			2,919,000	800,000
Net cash used in operating activities			(25,074,000)	(22,707,000)
Cash flows from investing activities:
Capital expenditures			(501,000)	(1,032,000)
Purchases of short-term investments			(15,164,000)	(123,062,000)
Proceeds from maturities of short-term investments			46,965,000	30,014,000
Net cash provided by (used in)/investing activities			31,300,000	(94,080,000)
Cash flows from financing activities:
Proceeds from loan payable				1,758,000
Proceeds from open market sales of common stock			7,666,000
Proceeds from exercise of stock options			691,000	175,000
Net cash provided by financing activities			8,357,000	1,933,000
Net increase/(decrease) in cash, cash equivalents and restricted cash			14,583,000	(114,854,000)
Cash, cash equivalents and restricted cash at beginning of period			13,571,000	130,368,000
Cash, cash equivalents and restricted cash at end of period	28,154,000	15,514,000	28,154,000	15,514,000
Supplemental cash flow information:
Cash and cash equivalents	27,179,000	14,542,000	27,179,000	14,542,000
Restricted cash	975,000	972,000	975,000	972,000
Total cash, cash equivalents and restricted cash	$ 28,154,000	$ 15,514,000	28,154,000	15,514,000
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, 2021
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. (together with our subsidiaries, “we,” “our,” “Abeona” or the “Company”), a Delaware corporation, 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 continue to develop additional AAV-based gene therapies designed to treat ophthalmic and other diseases, 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. Basis of Presentation The condensed consolidated balance sheet as of June 30, 2021, the condensed consolidated statements of operations and comprehensive loss and stockholders’ equity for the three and six months ended June 30, 2021 and 2020, and the condensed consolidated statement of cash flows for the six months ended June 30, 2021 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, 2020. The results of operations for the period ended June 30, 2021 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, 2020 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, 2021, we had cash, cash equivalents and short-term investments of $ 77.6 84.1 25.1 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 on our existing cash, cash equivalents and short-term investments, our ability to access additional financial resources and/or our financial flexibility to reduce operating expenses if required, we believe that we have sufficient resources to fund operations through at least the next 12 months. 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 are included in Note 7. Restricted Cash Restricted cash, which is recorded within other assets and restricted cash in the accompanying consolidated balance sheets and is included as a component of cash, cash equivalents and restricted cash on our consolidated statements of cash flows, consists of cash and cash equivalents held as collateral for a corporate credit card and office space in New York. As such, the cash and cash equivalents are restricted in use. Loss Per Common Share We have presented basic and diluted loss per common share on the statement of operations and comprehensive loss. 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. The “pre-funded” warrants were included in the computation of basic net loss per share as the exercise price was negligible and the warrants were fully vested and exercisable. In October 2020, all of the 9,017,055 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, restricted stock 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: For the three months ended For the six months ended 2021 2020 2021 2020 Stock options 7,726,468 7,790,596 7,726,468 7,790,596 Restricted stock 3,328,125 1,083,313 3,328,125 1,083,313 Warrants - 20,000 - 20,000 Total 11,054,593 8,893,909 11,054,593 8,893,909

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
SHORT-TERM INVESTMENTS	NOTE 2 – SHORT-TERM INVESTMENTS The following table summarizes the available-for-sale investments held: SCHEDULE OF AVAILABLE-FOR-SALE INVESTMENTS HELD Description June 30, 2021 December 31, 2020 U.S. government and agency securities and treasuries $ 50,380,000 $ 82,438,000 The amortized cost of the available-for-sale debt securities, which is adjusted for amortization of premiums and accretion of discounts to maturity, was $ 50,381,000 82,448,000 no

LICENSED TECHNOLOGY

LICENSED TECHNOLOGY	6 Months Ended
	Jun. 30, 2021
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 20 10 10 100 20 60 eight years 10 3 8 1 8 20 8 20 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 May 2, 2020 32.9 On May 25, 2020, we filed an arbitration claim with the American Arbitration Association (“AAA”) 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 were not responsible for payments totaling $ 28 million (which would otherwise have been due in 2020) plus accrued interest ($ 6.4 million as of June 30, 2021 based on invoices received from REGENXBIO). REGENXBIO disputed our arbitration claim and filed a counterclaim seeking payment of the $ 28 million plus interest, which REGENXBIO argued remained due. An arbitration hearing before a tribunal of three AAA arbitrators was held on March 8 and March 9, 2021. On July 13, 2021, the tribunal found in favor of REGENXBIO Inc. in connection with the parties’ arbitration claims and counterclaims. Although the tribunal awarded REGENXBIO $ 28.0 million plus interest, we believe that prior to the arbitration decision, the two companies had entered into a binding settlement agreement, including $ 18.0 million payable to REGENXBIO over a two-year period. We intend to seek enforcement of the settlement agreement. 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 June 30, 2021 December 31, 2020 Licensed technology $ 2,156,000 $ 2,156,000 Less accumulated amortization 714,000 656,000 Licensed technology, net $ 1,442,000 $ 1,500,000 The aggregate estimated amortization expense for intangible assets remaining as of June 30, 2021 is as follows: SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS 2021, remainder $ 58,000 2022 117,000 2023 117,000 2024 117,000 2025 117,000 Thereafter 916,000 Total $ 1,442,000 Amortization on licensed technology was $ 29,000 58,000 44,000 1.3

LOAN PAYABLE

LOAN PAYABLE	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
LOAN PAYABLE	NOTE 4 - LOAN PAYABLE On May 2, 2020, we received loan proceeds in the amount of approximately $ 1.8 1 In July 2021, we received notice from the SBA that our PPP loan has been forgiven. We will record the extinguishment of the PPP loan payable and other income in the third quarter of 2021.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 5 – 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 prepaid expenses and other current assets, other assets, accounts payable, accrued expenses, loan payable, payable to licensor and contract liability 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 lowest level fair value inputs are used to assign a fair value level. 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. 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, 2021 and December 31, 2020 are summarized below: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS Description June 30, 2021 Level 1 Level 2 Level 3 Total Gains/(Losses) Recurring Assets: Short-term investments $ 50,380,000 $ $ 50,380,000 $ - $ - Non-recurring Assets: Licensed technology, net $ 1,442,000 $ - $ - $ 1,442,000 $ - Goodwill 32,466,000 - - 32,466,000 - Description December 31, 2020 Level 1 Level 2 Level 3 Total Gains/(Losses) Recurring Assets: Short-term investments $ 82,438,000 $ $ 82,438,000 $ - $ - Non-recurring Assets: Licensed technology, net $ 1,500,000 $ - $ - $ 1,500,000 $ (32,916,000 ) Goodwill 32,466,000 - - 32,466,000 -

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 6 – STOCK-BASED COMPENSATION Stock Options SCHEDULE OF STOCK BASED COMPENSATION For the three months ended June 30, For the six months ended June 30, 2021 2020 2021 2020 Research and development $ 608,000 $ 871,000 $ 1,217,000 $ 1,615,000 General and administrative 719,000 707,000 1,193,000 1,219,000 Stock option-based compensation expense included in operating expense $ 1,327,000 $ 1,578,000 $ 2,410,000 $ 2,834,000 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 June 30, For the six months ended June 30, 2021 2020 2021 2020 Expected volatility 97 % 111 % 98 % 111 % Expected term 5.67 6.25 5.93 6.25 Risk-free interest rate 0.96 % 0.23 % 0.99 % 0.30 % 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 June 30, For the six months ended June 30, 2021 2020 2021 2020 Options granted 1,205,808 1,897,119 3,355,308 3,073,046 Weighted-average: Exercise price $ 1.60 $ 2.83 $ 2.05 $ 2.30 Grant date fair value $ 1.22 $ 2.36 $ 1.59 $ 1.92 Restricted Common Stock SCHEDULE OF STOCK BASED COMPENSATION For the three months ended June 30, For the six months ended June 30, 2021 2020 2021 2020 Research and development $ 484,000 $ 147,000 $ 1,030,000 $ 472,000 General and administrative 617,000 40,000 938,000 179,000 Restricted stock-based compensation expense included in operating expense $ 1,101,000 $ 187,000 $ 1,968,000 $ 651,000 The following table summarizes the restricted common stock granted for the periods indicated: SUMMARY OF RESTRICTED COMMON STOCK For the three months ended June 30, For the six months ended June 30, 2021 2020 2021 2020 Restricted common stock granted 926,484 1,083,313 1,975,734 1,083,313 Restricted common stock forfeited (220,136 ) - (428,659 ) - Weighted-average: Grant date fair value-granted awards $ 1.60 $ 3.19 $ 1.97 $ 3.19 Grant date fair value-forfeited awards $ 2.05 $ - $ 1.89 $ -

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7 – COMMITMENTS AND CONTINGENCIES Arbitration Proceeding We were 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), 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 (“AAA”) 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 were not responsible for payments totaling $ 28 million (which would otherwise have been due in 2020) plus accrued interest ($ 6.4 million as of June 30, 2021 based on invoices received from REGENXBIO). REGENXBIO disputed our arbitration claim and filed a counterclaim seeking payment of these amounts. An arbitration hearing before a tribunal of three AAA arbitrators was held on March 8 and March 9, 2021. On July 13, 2021, the tribunal found in favor of REGENXBIO Inc. in connection with the parties’ arbitration claims and counterclaims. Although the tribunal awarded REGENXBIO $ 28.0 million plus interest, we believe that prior to the arbitration decision, the two companies had entered into a binding settlement agreement, including $ 18.0 million payable to REGENXBIO over a two-year period. We intend to seek enforcement of the settlement agreement. 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 months ended June 30, For the six months ended June 30, 2021 2020 2021 2020 Operating lease cost $ 434,000 $ 434,000 $ 868,000 $ 868,000 Variable lease cost $ 104,000 $ 92,000 $ 239,000 $ 175,000 Short-term lease cost $ 5,000 $ 6,000 $ 10,000 $ 24,000 The following table presents information about the amount and timing of cash flows arising from operating leases as of June 30, 2021: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES Maturity of lease liabilities: 2021, remainder $ 858,000 2022 1,727,000 2023 1,741,000 2024 1,781,000 2025 1,799,000 Thereafter 87,000 Total undiscounted operating lease payments 7,993,000 Less: imputed interest 1,551,000 Present value of operating lease liabilities $ 6,442,000 Balance sheet classification: Current portion of lease liability $ 1,720,000 Long-term lease liability 4,722,000 Total operating lease liabilities $ 6,442,000 Other information: Weighted-average remaining lease term for operating leases 55 Weighted-average discount rate for operating leases 9.6 %

NATURE OF OPERATIONS AND SIGN_2

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	Background Abeona Therapeutics Inc. (together with our subsidiaries, “we,” “our,” “Abeona” or the “Company”), a Delaware corporation, 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 continue to develop additional AAV-based gene therapies designed to treat ophthalmic and other diseases, 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.
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet as of June 30, 2021, the condensed consolidated statements of operations and comprehensive loss and stockholders’ equity for the three and six months ended June 30, 2021 and 2020, and the condensed consolidated statement of cash flows for the six months ended June 30, 2021 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, 2020. The results of operations for the period ended June 30, 2021 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, 2020 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, 2021, we had cash, cash equivalents and short-term investments of $ 77.6 84.1 25.1 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 on our existing cash, cash equivalents and short-term investments, our ability to access additional financial resources and/or our financial flexibility to reduce operating expenses if required, we believe that we have sufficient resources to fund operations through at least the next 12 months.
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 are included in Note 7.
Restricted Cash	Restricted Cash Restricted cash, which is recorded within other assets and restricted cash in the accompanying consolidated balance sheets and is included as a component of cash, cash equivalents and restricted cash on our consolidated statements of cash flows, consists of cash and cash equivalents held as collateral for a corporate credit card and office space in New York. As such, the cash and cash equivalents are restricted in use.
Loss Per Common Share	Loss Per Common Share We have presented basic and diluted loss per common share on the statement of operations and comprehensive loss. 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. The “pre-funded” warrants were included in the computation of basic net loss per share as the exercise price was negligible and the warrants were fully vested and exercisable. In October 2020, all of the 9,017,055 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, restricted stock 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: For the three months ended For the six months ended 2021 2020 2021 2020 Stock options 7,726,468 7,790,596 7,726,468 7,790,596 Restricted stock 3,328,125 1,083,313 3,328,125 1,083,313 Warrants - 20,000 - 20,000 Total 11,054,593 8,893,909 11,054,593 8,893,909

NATURE OF OPERATIONS AND SIGN_3

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2021
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 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, restricted stock 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: For the three months ended For the six months ended 2021 2020 2021 2020 Stock options 7,726,468 7,790,596 7,726,468 7,790,596 Restricted stock 3,328,125 1,083,313 3,328,125 1,083,313 Warrants - 20,000 - 20,000 Total 11,054,593 8,893,909 11,054,593 8,893,909

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
SCHEDULE OF AVAILABLE-FOR-SALE INVESTMENTS HELD	The following table summarizes the available-for-sale investments held: SCHEDULE OF AVAILABLE-FOR-SALE INVESTMENTS HELD Description June 30, 2021 December 31, 2020 U.S. government and agency securities and treasuries $ 50,380,000 $ 82,438,000

LICENSED TECHNOLOGY (Tables)

LICENSED TECHNOLOGY (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF LICENSED TECHNOLOGY	Licensed technology consists of the following: SCHEDULE OF LICENSED TECHNOLOGY June 30, 2021 December 31, 2020 Licensed technology $ 2,156,000 $ 2,156,000 Less accumulated amortization 714,000 656,000 Licensed technology, net $ 1,442,000 $ 1,500,000
SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS	The aggregate estimated amortization expense for intangible assets remaining as of June 30, 2021 is as follows: SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS 2021, remainder $ 58,000 2022 117,000 2023 117,000 2024 117,000 2025 117,000 Thereafter 916,000 Total $ 1,442,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 and December 31, 2020 are summarized below: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS Description June 30, 2021 Level 1 Level 2 Level 3 Total Gains/(Losses) Recurring Assets: Short-term investments $ 50,380,000 $ $ 50,380,000 $ - $ - Non-recurring Assets: Licensed technology, net $ 1,442,000 $ - $ - $ 1,442,000 $ - Goodwill 32,466,000 - - 32,466,000 - Description December 31, 2020 Level 1 Level 2 Level 3 Total Gains/(Losses) Recurring Assets: Short-term investments $ 82,438,000 $ $ 82,438,000 $ - $ - Non-recurring Assets: Licensed technology, net $ 1,500,000 $ - $ - $ 1,500,000 $ (32,916,000 ) Goodwill 32,466,000 - - 32,466,000 -

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SCHEDULE OF STOCK BASED COMPENSATION	Stock Options SCHEDULE OF STOCK BASED COMPENSATION For the three months ended June 30, For the six months ended June 30, 2021 2020 2021 2020 Research and development $ 608,000 $ 871,000 $ 1,217,000 $ 1,615,000 General and administrative 719,000 707,000 1,193,000 1,219,000 Stock option-based compensation expense included in operating expense $ 1,327,000 $ 1,578,000 $ 2,410,000 $ 2,834,000
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 June 30, For the six months ended June 30, 2021 2020 2021 2020 Expected volatility 97 % 111 % 98 % 111 % Expected term 5.67 6.25 5.93 6.25 Risk-free interest rate 0.96 % 0.23 % 0.99 % 0.30 % 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 June 30, For the six months ended June 30, 2021 2020 2021 2020 Options granted 1,205,808 1,897,119 3,355,308 3,073,046 Weighted-average: Exercise price $ 1.60 $ 2.83 $ 2.05 $ 2.30 Grant date fair value $ 1.22 $ 2.36 $ 1.59 $ 1.92
SUMMARY OF RESTRICTED COMMON STOCK	The following table summarizes the restricted common stock granted for the periods indicated: SUMMARY OF RESTRICTED COMMON STOCK For the three months ended June 30, For the six months ended June 30, 2021 2020 2021 2020 Restricted common stock granted 926,484 1,083,313 1,975,734 1,083,313 Restricted common stock forfeited (220,136 ) - (428,659 ) - Weighted-average: Grant date fair value-granted awards $ 1.60 $ 3.19 $ 1.97 $ 3.19 Grant date fair value-forfeited awards $ 2.05 $ - $ 1.89 $ -
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SCHEDULE OF STOCK BASED COMPENSATION	Restricted Common Stock SCHEDULE OF STOCK BASED COMPENSATION For the three months ended June 30, For the six months ended June 30, 2021 2020 2021 2020 Research and development $ 484,000 $ 147,000 $ 1,030,000 $ 472,000 General and administrative 617,000 40,000 938,000 179,000 Restricted stock-based compensation expense included in operating expense $ 1,101,000 $ 187,000 $ 1,968,000 $ 651,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, For the six months ended June 30, 2021 2020 2021 2020 Operating lease cost $ 434,000 $ 434,000 $ 868,000 $ 868,000 Variable lease cost $ 104,000 $ 92,000 $ 239,000 $ 175,000 Short-term lease cost $ 5,000 $ 6,000 $ 10,000 $ 24,000
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, 2021: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES Maturity of lease liabilities: 2021, remainder $ 858,000 2022 1,727,000 2023 1,741,000 2024 1,781,000 2025 1,799,000 Thereafter 87,000 Total undiscounted operating lease payments 7,993,000 Less: imputed interest 1,551,000 Present value of operating lease liabilities $ 6,442,000 Balance sheet classification: Current portion of lease liability $ 1,720,000 Long-term lease liability 4,722,000 Total operating lease liabilities $ 6,442,000 Other information: Weighted-average remaining lease term for operating leases 55 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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	11,054,593	8,893,909	11,054,593	8,893,909
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	7,726,468	7,790,596	7,726,468	7,790,596
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,328,125	1,083,313	3,328,125	1,083,313
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		20,000		20,000

NATURE OF OPERATIONS AND SIGN_4

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Oct. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Cash, cash equivalents and short-term investments	$ 77.6
Net assets	84.1
Net cash used in operating activities	$ 25.1
Pre-Funded Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants converted to shares		9,017,055

SCHEDULE OF AVAILABLE-FOR-SALE

SCHEDULE OF AVAILABLE-FOR-SALE INVESTMENTS HELD (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
U.S. government and agency securities and treasuries	$ 50,380,000	$ 82,438,000

SHORT-TERM INVESTMENTS (Details

SHORT-TERM INVESTMENTS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Amortized cost of available-for-sale debt securities	$ 50,381,000		$ 82,448,000
Realized gains or losses on sale or maturity of available-for-sale debt securities	$ 0	$ 0

SCHEDULE OF LICENSED TECHNOLOGY

SCHEDULE OF LICENSED TECHNOLOGY (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Licensed technology	$ 2,156,000	$ 2,156,000
Less accumulated amortization	714,000	656,000
Licensed technology, net	$ 1,442,000	$ 1,500,000

SCHEDULE OF AMORTIZATION EXPENS

SCHEDULE OF AMORTIZATION EXPENSE FOR INTANGIBLE ASSETS (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2021, remainder	$ 58,000
2022	117,000
2023	117,000
2024	117,000
2025	117,000
Thereafter	916,000
Licensed technology, net	$ 1,442,000	$ 1,500,000

LICENSED TECHNOLOGY (Details Na

LICENSED TECHNOLOGY (Details Narrative) - USD ($)

Jul. 13, 2021

Nov. 04, 2020

Apr. 17, 2020

Apr. 02, 2020

Nov. 04, 2018

May 15, 2015

Jun. 30, 2021

Jun. 30, 2020

Mar. 31, 2020

Jun. 30, 2021

Jun. 30, 2020

Dec. 31, 2020

Nov. 04, 2019

Indefinite-lived Intangible Assets [Line Items]

Royalties payments

$ 20,000,000

$ 8,000,000

Due to licensor current

$ 8,000,000

$ 34,434,000

$ 34,434,000

$ 31,515,000

License to be paid

$ 8,000,000

Interest payable

$ 1,000,000

License termination date

May 2, 2020

Non-cash licensed technology impairment charge

$ 32,900,000

$ 32,916,000

Amortization of intangible assets

$ 29,000

$ 44,000

58,000

$ 1,300,000

Abeona Therapeutics LLC [Member]

Indefinite-lived Intangible Assets [Line Items]

Finite-lived intangible asset, useful life

20 years

RDEB Product [Member]

Indefinite-lived Intangible Assets [Line Items]

Debt Instrument, Periodic Payment, Principal

28,000,000

Debt Instrument, Increase, Accrued Interest

6,400,000

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

28,000,000

Litigation Settlement, Amount Awarded from Other Party

$ 18,000,000

Licensing Agreements [Member] | REGENXBIO [Member]

Indefinite-lived Intangible Assets [Line Items]

Royalty fees

$ 180,000,000

Royalties payments

$ 20,000,000

20,000,000

Payment on execution of contracts

10,000,000

Due to licensor current

10,000,000

Milestone payment

$ 60,000,000

Finite-lived intangible asset, useful life

8 years

Loss contingency accrual

8,000,000

Payments for legal settlements

$ 20,000,000

Licensing Agreements [Member] | REGENXBIO [Member] | Maximum [Member]

Indefinite-lived Intangible Assets [Line Items]

Annual fees

$ 100,000,000

LOAN PAYABLE (Details Narrative

LOAN PAYABLE (Details Narrative) - Paycheck Protection Program [Member] $ in Millions	May 02, 2020USD ($)
Short-term Debt [Line Items]
Proceeds from loan	$ 1.8
Debt interest rate	1.00%

SCHEDULE OF FAIR VALUE, ASSETS

SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
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	$ 50,380,000	$ 82,438,000
Fair value disclosure of gain loss
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	50,380,000	82,438,000
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	1,442,000	1,500,000
Fair value disclosure of gain loss		(32,916,000)
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	1,442,000	1,500,000
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
Fair value disclosure of gain loss
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

SCHEDULE OF STOCK BASED COMPENS

SCHEDULE OF STOCK BASED COMPENSATION (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense			$ 2,410,000	$ 2,834,000
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	$ 608,000	$ 871,000	1,217,000	1,615,000
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	719,000	707,000	1,193,000	1,219,000
Share-based Payment Arrangement, 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-based compensation expense	1,327,000	1,578,000	2,410,000	2,834,000
Restricted Stock [Member] | Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	484,000	147,000	1,030,000	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	617,000	40,000	938,000	179,000
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-based compensation expense	$ 1,101,000	$ 187,000	$ 1,968,000	$ 651,000

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Expected volatility	97.00%	111.00%	98.00%	111.00%
Expected term	5 years 8 months 1 day	6 years 3 months	5 years 11 months 4 days	6 years 3 months
Risk-free interest rate	0.96%	0.23%	0.99%	0.30%
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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Options granted	1,205,808	1,897,119	3,355,308	3,073,046
Weighted-average:
Exercise price	$ 1.60	$ 2.83	$ 2.05	$ 2.30
Grant date fair value	$ 1.22	$ 2.36	$ 1.59	$ 1.92

SUMMARY OF RESTRICTED COMMON ST

SUMMARY OF RESTRICTED COMMON STOCK (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock granted	926,484	1,083,313	1,975,734	1,083,313
Restricted common stock forfeited	(220,136)		(428,659)
Weighted-average:
Grant date fair value-granted awards	$ 1.60	$ 3.19	$ 1.97	$ 3.19
Grant date fair value-forfeited awards	$ 2.05		$ 1.89

SCHEDULE OF COMPONENTS OF LEASE

SCHEDULE OF COMPONENTS OF LEASE COST (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 434,000	$ 434,000	$ 868,000	$ 868,000
Variable lease cost	104,000	92,000	239,000	175,000
Short-term lease cost	$ 5,000	$ 6,000	$ 10,000	$ 24,000

SCHEDULE OF SUPPLEMENTAL CASH F

SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
2021, remainder	$ 858,000
2022	1,727,000
2023	1,741,000
2024	1,781,000
2025	1,799,000
Thereafter	87,000
Total undiscounted operating lease payments	7,993,000
Less: imputed interest	1,551,000
Total operating lease liabilities	6,442,000
Current portion of lease liability	1,720,000	$ 1,713,000
Long-term lease liability	$ 4,722,000	$ 5,260,000
Weighted-average remaining lease term for operating leases	55 months
Weighted-average discount rate for operating leases	9.60%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Millions	Jul. 13, 2021	Jun. 30, 2021
REGENXBIO [Member]
Product Liability Contingency [Line Items]
Due remains value	$ 28	$ 28
Litigation Settlement, Amount Awarded from Other Party		18
RDEB Product [Member]
Product Liability Contingency [Line Items]
Debt Instrument, Periodic Payment, Principal		28
Debt Instrument, Increase, Accrued Interest		$ 6.4