Estados financieros detallados de Abeona Therapeutics Inc. (ABEO): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Abeona Therapeutics Inc. registró ingresos de $5.8M en el último ejercicio fiscal, con un CAGR de 5 años del -10.3%.
Márgenes de los últimos 12 meses: margen bruto 56.6%, margen operativo -327.6%, margen neto -246.4%.
Al precio actual de $5.37, ABEO presenta beneficios negativos (P/E no significativo) y un ROE del -41.69%. La capitalización bursátil es de $306M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $889000 | $837000 | $3.0M | 0 | $10.0M | $3.0M | $1.4M | $3.5M | 0 | $5.8M |
| Coste de Ventas | $10.7M | $17.0M | $38.7M | $48.6M | 0 | 0 | $450000 | $1.6M | $2.9M | $1.5M |
| Beneficio Bruto | -$9.8M | -$16.2M | -$35.7M | -$48.6M | $10.0M | $3.0M | $964000 | $1.9M | -$2.9M | $4.3M |
| I+D | $10.7M | $17.0M | $38.7M | $53.8M | $30.1M | $38.7M | $29.0M | $31.1M | $34.4M | $26.8M |
| Generales y Administrativos | $13.3M | $10.9M | $20.1M | $20.7M | $23.8M | $21.6M | $17.3M | $19.0M | $29.9M | $65.0M |
| Gastos Operativos | $24.8M | $28.7M | $61.2M | $28.5M | $91.4M | $92.8M | $51.9M | $49.0M | $61.3M | $93.7M |
| Beneficio Operativo | -$23.9M | -$27.8M | -$58.2M | -$77.1M | -$81.4M | -$89.8M | -$50.9M | -$47.1M | -$64.2M | -$89.4M |
| EBITDA | -$21.0M | -$26.6M | -$54.3M | -$69.3M | -$74.5M | -$76.8M | -$34.4M | -$50.6M | -$56.6M | $78.6M |
| Gastos por Intereses | $6000 | $8000 | $11000 | $400000 | $4.1M | $3.7M | $736000 | $418000 | $4.2M | $3.7M |
| Beneficio Antes de Impuestos | -$21.9M | -$27.3M | -$56.7M | -$76.3M | -$84.2M | -$84.9M | -$39.7M | -$54.2M | -$63.7M | $71.3M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $100000 |
| Beneficio Neto | -$21.9M | -$27.3M | -$56.7M | -$76.3M | -$84.2M | -$84.9M | -$39.7M | -$54.2M | -$63.7M | $71.2M |
| BPA | $-16.00 | $-16.40 | $-29.81 | $-38.07 | $-22.75 | $-21.50 | $-5.53 | $-2.53 | $-1.55 | $1.34 |
| BPA Diluido | $-16.00 | $-16.40 | $-29.81 | $-38.07 | $-22.75 | $-21.50 | $-5.53 | $-2.53 | $-1.55 | $1.01 |
| Acciones en Circulación (Diluidas) | $1.4M | $1.7M | $1.9M | $2.0M | $3.7M | $3.9M | $7.9M | $21.4M | $41.0M | $66.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | $5.4M | $8.7M | $11.4M |
| Beneficio Bruto | -$488000 | $2.6M | $5.2M | $7.2M |
| Beneficio Operativo | -$24.0M | -$22.9M | -$23.0M | -$13.7M |
| EBITDA | -$18.6M | -$18.7M | -$15.4M | -$18.8M |
| Beneficio Neto | -$5.2M | -$20.5M | -$17.1M | -$20.2M |
| BPA | $-0.10 | $-0.39 | $-0.30 | $-0.35 |
| BPA Diluido | $-0.10 | $-0.36 | $-0.30 | $-0.35 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $69.1M | $137.8M | $18.8M | $129.3M | $12.6M | $32.9M | $14.2M | $14.5M | $23.4M | $78.4M |
| Inversiones a Corto | 0 | 0 | $66.2M | 0 | $82.4M | $12.1M | $37.9M | $37.8M | $74.4M | $113.0M |
| Cuentas por Cobrar | $124000 | $107000 | $81000 | 0 | 0 | $3.0M | $188000 | $2.4M | $1.7M | $6.7M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $5.5M |
| Activos Corrientes | $69.4M | $140.6M | $88.9M | $132.4M | $97.7M | $56.3M | $53.1M | $55.7M | $100.9M | $204.9M |
| Inmovilizado Material | $721000 | $1.4M | $9.4M | $21.2M | $18.4M | $21.7M | $11.1M | $8.0M | $8.0M | $13.9M |
| Fondo de Comercio | $32.5M | $32.5M | $32.5M | $32.5M | $32.5M | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $8.4M | $4.0M | $43.0M | $36.2M | $1.5M | $1.4M | 0 | 0 | 0 | 0 |
| Activos Totales | $111.1M | $178.8M | $174.4M | $223.4M | $151.2M | $79.6M | $64.2M | $64.0M | $108.9M | $219.6M |
| Cuentas por Pagar | $3.7M | $1.9M | $6.1M | $3.8M | $4.7M | $4.3M | $1.8M | $1.9M | $3.4M | $7.9M |
| Deuda a Corto | 0 | 0 | $10.0M | 0 | $330000 | 0 | 0 | 0 | $5.9M | $12.2M |
| Pasivos Corrientes | $8.3M | $5.6M | $20.4M | $38.7M | $42.0M | $16.6M | $7.8M | $13.4M | $16.6M | $29.6M |
| Deuda a Largo | 0 | 0 | $20.0M | 0 | $1.4M | 0 | 0 | 0 | $13.0M | $7.8M |
| Pasivos Totales | $12.0M | $8.7M | $40.4M | $45.0M | $48.6M | $37.2M | $37.5M | $49.2M | $64.9M | $60.4M |
| Reservas | -$332.5M | -$359.8M | -$410.2M | -$486.5M | -$570.7M | -$655.6M | -$695.3M | -$749.5M | -$813.3M | -$742.1M |
| Patrimonio Neto | $99.1M | $170.1M | $134.0M | $178.4M | $102.6M | $42.4M | $26.8M | $14.8M | $44.0M | $159.2M |
| Deuda Total | 0 | 0 | $30.0M | $8.0M | $8.7M | $9.4M | $7.6M | $5.4M | $23.0M | $25.0M |
| Deuda Neta | -$69.1M | -$137.8M | -$55.0M | -$121.3M | -$86.3M | -$35.6M | -$44.5M | -$46.8M | -$74.7M | -$166.4M |
| Capital Circulante | $61.1M | $135.0M | $68.5M | $93.7M | $55.8M | $39.7M | $45.3M | $42.3M | $84.3M | $175.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $83.2M | $78.4M | $61.4M | $56.2M |
| Activos Totales | $231.1M | $219.6M | $198.5M | $179.5M |
| Pasivos Totales | $59.9M | $60.4M | $53.6M | $51.4M |
| Patrimonio Neto | $171.2M | $159.2M | $144.9M | $128.1M |
| Deuda Total | $24.1M | $25.0M | $23.2M | $19.9M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$21.9M | -$27.3M | -$56.7M | -$76.3M | -$84.2M | -$84.9M | -$39.7M | -$54.2M | -$63.7M | $71.2M |
| Amortizaciones | $825000 | $741000 | $2.4M | $8.7M | $5.6M | $4.5M | $4.6M | $3.2M | $2.9M | $3.6M |
| Compensación en Acciones | $4.8M | $5.9M | $8.9M | $8.2M | $8.2M | $8.9M | $3.1M | $4.8M | $6.6M | $10.8M |
| Cambio en Capital Circulante | -$227000 | -$2.1M | $7.0M | -$3.6M | $1.6M | -$18.3M | -$5.9M | -$1.8M | -$4.4M | -$5.4M |
| Flujo de Caja Operativo | -$13.0M | -$22.9M | -$39.1M | -$62.8M | -$35.0M | -$65.7M | -$43.5M | -$37.0M | -$56.0M | -$76.3M |
| Inversiones (CapEx) | -$519000 | -$860000 | -$19.5M | -$6.5M | -$1.3M | -$4.2M | -$130000 | -$331000 | -$2.4M | -$8.0M |
| Adquisiciones | 0 | 0 | $19.5M | 0 | $1.3M | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$13.5M | -$23.8M | -$58.6M | -$69.3M | -$36.4M | -$69.8M | -$43.6M | -$37.3M | -$58.5M | -$84.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$21.2M | -$18.0M | -$19.8M | -$17.5M |
| Inversiones (CapEx) | -$2.5M | -$1.2M | -$935000 | -$479000 |
| Flujo de Caja Libre | -$23.7M | -$19.1M | -$20.7M | -$18.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.7M | -$142000 | $3.0M | $3.4M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -5.8% | +258.2% | -100.0% | | -70.0% | -52.9% | +147.5% | -100.0% | |
| Crecimiento Beneficio Neto (anual) | | -24.9% | -107.4% | -34.6% | -10.4% | -0.8% | +53.3% | -36.5% | -17.6% | +211.7% |
| Crecimiento BPA (anual) | | -2.5% | -81.8% | -27.7% | +40.2% | +5.5% | +74.3% | +54.2% | +38.7% | +186.5% |
| Cambio en Acciones (anual) | | +21.8% | +14.2% | +5.9% | +84.1% | +6.2% | +99.6% | +171.9% | +92.0% | +61.1% |
| Crecimiento FCF (anual) | | -75.8% | -146.3% | -18.3% | +47.6% | -92.0% | +37.5% | +14.4% | -56.6% | -44.2% |
| Margen Bruto | -1098.5% | -1929.7% | -1190.8% | | 100.0% | 100.0% | 68.2% | 54.1% | | 73.7% |
| Margen Operativo | -2686.3% | -3325.7% | -1940.2% | | -814.2% | -2994.5% | -3600.8% | -1346.7% | | -1536.9% |
| Margen EBITDA | -2367.6% | -3175.4% | -1811.6% | | -745.2% | -2560.5% | -2431.6% | -1444.9% | | 1350.3% |
| Margen Neto | -2460.4% | -3263.9% | -1890.3% | | -842.3% | -2831.2% | -2807.4% | -1548.2% | | 1223.1% |
| Margen FCF | -1522.3% | -2842.9% | -1954.8% | | -363.6% | -2327.2% | -3084.4% | -1066.9% | | -1448.5% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | 0.1% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-9.90 | $-14.29 | $-30.83 | $-34.42 | $-9.81 | $-17.73 | $-5.55 | $-1.75 | $-1.42 | $-1.27 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $1.4M | $1.7M | $1.9M | $2.0M | $3.7M | $3.9M | $7.9M | $21.4M | $41.0M | $53.0M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -41.69% |
| Rentabilidad sobre capital invertido | -39.66% |
| Rentabilidad sobre activos | -35.03% |
| Margen bruto | 56.63% |
| Margen operativo | -327.64% |
| Margen neto | -246.42% |
Salud financiera
| Deuda / Patrimonio | 0.16 |
| Ratio corriente | 6.63 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -7.58 | -24.16 | -5.99 | -2.15 | -1.73 | -0.40 | -0.56 | -1.98 | -3.59 | 3.93 |
| P/VC | 1.67 | 3.88 | 2.53 | 0.92 | 1.42 | 0.79 | 0.90 | 7.22 | 5.19 | 1.75 |
| P/V | 186.44 | 788.24 | 113.18 | 0.00 | 14.55 | 11.16 | 17.13 | 30.60 | 0.00 | 47.95 |
| Margen Bruto | -1098.5% | -1929.7% | -1190.8% | 0.0% | 100.0% | 100.0% | 68.2% | 54.1% | 0.0% | 73.7% |
| Margen Operativo | -2686.3% | -3325.7% | -1940.2% | 0.0% | -814.2% | -2994.5% | -3600.8% | -1346.7% | 0.0% | -1536.9% |
| Margen Neto | -2460.4% | -3263.9% | -1890.3% | 0.0% | -842.3% | -2831.2% | -2807.4% | -1548.2% | 0.0% | 1223.1% |