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    Steven Wiley

    Managing Director and Senior Equity Research Analyst at Stifel

    Stephen Willey is a Managing Director and Senior Equity Research Analyst at Stifel, focusing on the healthcare sector with a specialization in biotechnology. He covers a range of prominent biotechnology companies, leveraging a research background as a former Research Scientist at ImClone Systems and Research Associate at Mount Sinai School of Medicine to provide deep clinical and commercial insights. Since joining Stifel in 2010 through the acquisition of Thomas Weisel Partners LLC, Willey has become known for his rigorous fundamental analysis and detailed investment theses; prior to this, he built his scientific and business credentials with an undergraduate degree from the University of New Hampshire, an M.S. from the University of Rhode Island, and an MBA from New York University. He combines industry and academic expertise to inform institutional investment decisions and is recognized for his methodical approach to healthcare equity research.

    Steven Wiley's questions to ABEONA THERAPEUTICS (ABEO) leadership

    Steven Wiley's questions to ABEONA THERAPEUTICS (ABEO) leadership • Q2 2025

    Question

    Tully on for Steven Wiley of Stifel questioned if the initial QTCs are a good proxy for future patient numbers, whether the two active centers are sufficient to meet 2025 guidance, and if the Q2 SG&A spend is a reliable run-rate.

    Answer

    CEO Vishwas Seshadri and CCO Madhav Vasanthavada confirmed the two active QTCs have identified enough patients (~50) to support the 2025 guidance of 10-14 patients and build a strong funnel for 2026. CFO Joseph Vazzano clarified that while the overall operating burn trend is indicative, the Q2 SG&A figure itself will fluctuate quarterly due to the accounting mix of production and engineering costs between R&D, COGS, and SG&A.

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