India, May 12 -- Abeona Therapeutics Inc. (ABEO) Monday said that it has agreed to sell its Rare Pediatric Disease Priority Review Voucher (PRV) for $155 million. Following the news, the company's shares were more than 9% up in pre-market.
The PRV was awarded following the U.S. Food and Drug Administration (FDA) approval of the company's gene therapy, Zevaskyn for treating recessive dystrophic epidermolysis bullosa (RDEB), a severe, genetic skin disease.
Under the FDA's PRV program, a drug developer who gets approval for a drug to treat a rare pediatric disease may qualify for a voucher that can be redeemed to receive priority review for a different product.
"With proceeds from this PRV sale, we have sufficient cash for more than two yea...