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AEON Biopharma Reports Third Quarter 2024 Financial Results and Provides Corporate Update
GlobeNewswire News Room· 2024-11-13 21:05
– Held biosimilar advisory meeting with FDA in Q3 2024, and aligned on next steps for a 351(k) regulatory pathway to approval for ABP-450 (prabotulinumtoxinA) as a biosimilar utilizing BOTOX® (onabotulinumtoxinA) as the reference product – – Plan to initiate comparative analytical studies anticipated in Q4 2024 subject to available resources – – 351(k) regulatory pathway offers potential to bring ABP-450 to the U.S. market under a single approval for all of BOTOX’s currently approved and future therapeutic ...
AEON Biopharma, Inc. (AEON) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now
ZACKS· 2024-08-21 14:55
Core Viewpoint - AEON Biopharma, Inc. has experienced a significant downtrend, losing 61% of its stock value over the past four weeks, but a hammer chart pattern suggests a potential trend reversal due to increased buying interest and positive earnings estimates from analysts [1]. Group 1: Technical Analysis - The formation of a hammer chart pattern indicates a possible bottoming out of the stock, suggesting that selling pressure may be exhausting [1]. - A hammer pattern occurs when a stock opens lower, makes a new low, but then closes near or above its opening price, signaling a potential loss of control by bears [2]. Group 2: Fundamental Analysis - There has been a positive trend in earnings estimate revisions for AEON, with the consensus EPS estimate increasing by 15.4% over the last 30 days, indicating bullish sentiment among analysts [3]. - AEON holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [3]. - The Zacks Rank serves as a timing indicator, suggesting that AEON's prospects are beginning to improve, reinforcing the potential for a turnaround [3].
AEON Biopharma to Participate in the H.C. Wainwright 26th Annual Global Investment Conference 2024
GlobeNewswire News Room· 2024-08-19 20:05
Company Overview - AEON Biopharma, Inc. is a clinical-stage biopharmaceutical company focused on developing a proprietary botulinum toxin complex, ABP-450, for various therapeutic indications, initially targeting the neurosciences market [2] - ABP-450 is the same botulinum toxin complex marketed for cosmetic use under the name Jeuveau by Evolus [2] - The product is manufactured by Daewoong in compliance with current Good Manufacturing Practice (cGMP) and is approved by the U.S. FDA, Health Canada, and the European Medicines Agency [2] - AEON holds exclusive development and distribution rights for therapeutic indications of ABP-450 in the U.S., Canada, the EU, the UK, and other international territories [2] Upcoming Events - Marc Forth, AEON's President and CEO, will present a corporate overview at the H.C. Wainwright 26th Annual Global Investment Conference on September 11, 2024, at 1:30 PM ET in New York [1] - Mr. Forth will also engage in one-on-one meetings with institutional investors during the conference [1]
AEON Biopharma(AEON) - 2024 Q2 - Quarterly Results
2024-08-12 20:06
Financial Performance - AEON Biopharma reported a net income of $164.1 million for Q2 2024, compared to a net loss of $15.4 million in Q2 2023, reflecting a significant turnaround in financial performance[10]. - Total operating expenses for Q2 2024 were $153.5 million, a substantial increase from $14.0 million in Q2 2023, primarily due to a change in the fair value of contingent consideration[10]. - The total liabilities of AEON Biopharma as of June 30, 2024, were $33.7 million, a decrease from $159.9 million at the end of 2023[8]. - AEON's additional paid-in capital increased to $399.6 million as of June 30, 2024, from $381.3 million at the end of 2023[8]. - The financial results of AEON Biopharma Sub, Inc. prior to the Merger are not directly comparable to the results following the Merger[11]. - Historical financial statements of AEON Biopharma Sub, Inc. became the historical financial statements of the combined Company after the Merger[11]. - The financial statements reflect both Predecessor periods for the three and six months ended June 30, 2023, and Successor periods for the three and six months ended June 30, 2024[11]. - A black line in the financial statements highlights the lack of comparability between Predecessor and Successor periods[11]. Cash Position - The company has $3.4 million in cash and cash equivalents as of June 30, 2024, down from $5.2 million at the end of 2023[8]. Clinical Development - AEON plans to initiate a Phase 3 clinical study in approximately 400 patients to compare ABP-450 to BOTOX, aiming to demonstrate non-inferiority[3]. - The company submitted a briefing package to the FDA, providing extensive data that could support a Biologics License Application (BLA) filing for ABP-450[3]. - AEON is scheduled to hold an initial advisory meeting with the FDA in Q3 2024 regarding the biosimilar development of ABP-450[3]. - The company aims to leverage the 351(k) regulatory pathway to bring ABP-450 to the U.S. market under a single approval for all of BOTOX's therapeutic indications[2]. Development Rights - The company has exclusive development and distribution rights for ABP-450 in the U.S., Canada, EU, UK, and other territories[4].
AEON Biopharma(AEON) - 2024 Q2 - Quarterly Report
2024-08-12 20:05
Financial Performance - AEON Biopharma has an accumulated deficit of $427.5 million as of June 30, 2024, and has never generated revenue from ABP-450[159]. - Losses from operations for the three months ended June 30, 2024, were $7.8 million, compared to $18.1 million for the same period in 2023[159]. - Consolidated net income for the three months ended June 30, 2024, was $164.1 million, while the loss for the same period in 2023 was $15.4 million[159]. - The company reported a net income of $164.1 million for the three months ended June 30, 2024, compared to a net loss of $(15.4) million for the same period in 2023[188]. - Basic and diluted net income per share for the three months ended June 30, 2024, was $4.22, compared to a loss of $(0.11) per share for the same period in 2023[188]. - Other income was $10.6 million for the three months ended June 30, 2024, compared to a loss of $1.4 million for the same period in 2023[194]. - A loss of $33.2 million was recorded for other income (loss), net for the six months ended June 30, 2024, compared to a loss of $6.0 million for the same period in 2023[195]. - The net cash used in operating activities for the six months ended June 30, 2024, was $16.7 million, with a net income of $46.1 million and non-cash charges totaling $60.8 million[213]. - Net cash used in operating activities for the six months ended June 30, 2023, was $21.1 million, primarily due to a net loss of $33.0 million and non-cash items of $8.7 million[214]. - Net cash provided by financing activities for the six months ended June 30, 2024, and June 30, 2023, were $15.0 million and $14.0 million, respectively, mainly related to the issuance of convertible notes[216]. Research and Development - A Phase 2 study of ABP-450 for cervical dystonia met all primary endpoints, supporting further development[158]. - The company has completed enrollment for a Phase 2 study of ABP-450 for chronic and episodic migraine, but these trials did not meet their primary endpoints[153]. - The company expects R&D expenses to continue to increase as it develops and initiates a Phase 3 study of ABP-450 in cervical dystonia and a Phase 2 study for gastroparesis[178]. - R&D expenses for the three months ended June 30, 2024, were $4.4 million, a decrease of $4.6 million, or 51%, compared to $9.0 million for the same period in 2023[192]. - R&D expenses decreased by $8.1 million, or 44%, to $10.2 million for the six months ended June 30, 2024, compared to $18.2 million for the same period in 2023[193]. Cash Position and Financing - AEON Biopharma has $3.4 million in cash and cash equivalents as of June 30, 2024, and substantial doubt exists about its ability to continue as a going concern without additional financing[159]. - The company expects to have sufficient cash to fund operations into the fourth quarter of 2024 but is actively seeking additional capital[205]. - AEON Biopharma entered into a Subscription Agreement for Convertible Notes totaling up to $15.0 million to support late-stage clinical development of ABP-450[168]. Market and Regulatory Pathway - The global therapeutic botulinum toxin market is estimated at $3.0 billion and projected to grow to $4.4 billion by 2027[152]. - AEON Biopharma plans to pursue a 351(k) biosimilar regulatory pathway for ABP-450, using AbbVie Inc.'s Botox as a reference product[153]. - The company has entered into a License Agreement Amendment with Daewoong, which includes a Termination Purchase Right for $1.00 if certain conditions are met[171]. Operating Expenses - SG&A expenses for the three months ended June 30, 2024, were $3.3 million, a decrease of $1.6 million, or 33%, compared to $4.9 million for the same period in 2023[189]. - The company anticipates increased SG&A expenses in the future to support ongoing R&D activities and compliance with public company requirements[177]. - The company expects to incur significant expenses related to building its commercialization infrastructure for ABP-450[160]. - The company expects to incur additional annual expenses related to being a public company, including liability insurance and compliance costs[174]. Company Status and Reporting - The company remains an emerging growth company and intends to rely on certain exemptions from public company reporting requirements until at least December 31, 2026, or until specific revenue or market value thresholds are met[218]. - The company qualifies as a smaller reporting company, with the market value of its common stock held by non-affiliates being less than $700 million and annual revenue below $100 million[220]. - The company has reduced disclosure obligations regarding executive compensation due to its status as an emerging growth company and smaller reporting company[220]. - The company may continue to rely on exemptions from certain disclosure requirements if it remains a smaller reporting company after ceasing to be an emerging growth company[220]. - The company has not included all executive compensation-related information that would be required if it were not an emerging growth company[218]. - There have been no changes to the company's critical accounting policies as of June 30, 2024, compared to those reported in the Annual Report Form 10-K[217]. - Actual results may differ materially from estimates and assumptions made in the financial statements, which could be material to the financial position and results of operations[217].
AEON Biopharma Reports Second Quarter 2024 Financial Results and Provides Corporate Update
GlobeNewswire News Room· 2024-08-12 20:05
Core Insights - AEON Biopharma is advancing the development of ABP-450 (prabotulinumtoxinA) as a biosimilar to BOTOX® (onabotulinumtoxinA) with plans to hold an initial advisory meeting with the FDA in the third quarter of 2024 [1][2][3] - The 351(k) regulatory pathway may allow AEON to bring ABP-450 to the U.S. market under a single approval for all current and future therapeutic indications of BOTOX [1][2] Company Overview - AEON Biopharma is a clinical-stage biopharmaceutical company focused on developing ABP-450 for various therapeutic indications, initially targeting the neurosciences market [4] - ABP-450 is the same botulinum toxin complex currently marketed for cosmetic uses under the name Jeuveau by Evolus [4] - The product is already approved as a biosimilar in Mexico and India, and AEON holds exclusive rights for therapeutic indications in the U.S., Canada, EU, UK, and other territories [4] Financial Highlights - For the second quarter ended June 30, 2024, AEON reported a significant loss from operations amounting to $153.5 million, compared to a loss of $14 million in the same period of the previous year [11][12] - Operating expenses included $3.3 million for selling, general, and administrative costs, and $4.4 million for research and development [11] - The net income for the second quarter of 2024 was reported at $164.1 million, a substantial increase from a net loss of $15.4 million in the same quarter of 2023 [12] Development Plans - AEON plans to initiate a pivotal clinical study comparing ABP-450 to BOTOX in treating cervical dystonia (CD), pending funding [3] - The company has submitted a briefing package to the FDA containing extensive data from various studies to support a Biologics License Application (BLA) filing [3] - A successful Phase 3 study could provide the necessary data to demonstrate that ABP-450 is highly similar to BOTOX for all approved and future indications [3]
AEON Biopharma Announces Strategic Reprioritization to Pursue a Biosimilar Pathway for ABP-450
Newsfilter· 2024-07-09 12:00
Core Insights - AEON Biopharma plans to conduct a pivotal Phase 3 study comparing its lead candidate ABP-450 to BOTOX® for cervical dystonia, utilizing the 351(k) biosimilar pathway following an FDA meeting in Q3 2024 [1][2] - The company aims to demonstrate that ABP-450 is highly similar to BOTOX® across all currently approved and future therapeutic indications through a single comparative study [2] Company Overview - AEON Biopharma is a clinical-stage biopharmaceutical company focused on developing ABP-450 (prabotulinumtoxinA) for various therapeutic indications, initially targeting the neurosciences market [4] - ABP-450 shares the same molecular weight as BOTOX® at 900kDa and has undergone extensive analytical and preclinical testing, much of which is already completed [2] - The company has exclusive development and distribution rights for ABP-450 in the U.S., Canada, EU, UK, and other territories, and the product is already approved as a biosimilar in Mexico and India [4] Clinical Trial Details - The Phase 2 clinical trial of ABP-450 for cervical dystonia involved 57 patients across 20 sites in the U.S., with results presented at the IP-MDS Congress in August 2023 [3] - The trial demonstrated statistically significant improvements in the Toronto Western Spasmodic Torticollis rating scale (TWSTRS) total score for the lower doses of ABP-450, with improvements of 14.01 points (p=0.007) for 150 units and 11.28 points (p=0.0406) for 250 units [3] - All dosing arms showed sustained benefits, with a median duration of effect of at least 20 weeks [3]
Down -64.16% in 4 Weeks, Here's Why AEON Biopharma, Inc. (AEON) Looks Ripe for a Turnaround
zacks.com· 2024-05-29 14:35
AEON Biopharma, Inc. (AEON) has been beaten down lately with too much selling pressure. While the stock has lost 64.2% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum osci ...
AEON Biopharma(AEON) - 2024 Q1 - Quarterly Report
2024-05-14 20:09
Part I - Financial Information [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The company reported a significantly increased net loss of $118.0 million for Q1 2024 and faces substantial doubt about its ability to continue as a going concern Condensed Consolidated Balance Sheet Highlights (Successor) | Balance Sheet Item | March 31, 2024 (Unaudited) | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $1.6 million | $5.2 million | | Total assets | $3.0 million | $6.8 million | | Total liabilities | $201.4 million | $159.9 million | | Total stockholders' deficit | ($198.4 million) | ($153.0 million) | Condensed Consolidated Statement of Operations Highlights | Income Statement Item | Three Months Ended Mar 31, 2024 (Successor) | Three Months Ended Mar 31, 2023 (Predecessor) | | :--- | :--- | :--- | | Research and development | $5.7 million | $9.2 million | | Selling, general and administrative | $4.6 million | $3.8 million | | Change in fair value of contingent consideration | $63.8 million | $0 | | Loss from operations | ($74.2 million) | ($13.0 million) | | Net loss | ($118.0 million) | ($17.6 million) | | Basic and diluted net loss per share | ($3.17) | ($0.13) | Condensed Consolidated Statement of Cash Flows Highlights | Cash Flow Item | Three Months Ended Mar 31, 2024 (Successor) | Three Months Ended Mar 31, 2023 (Predecessor) | | :--- | :--- | :--- | | Net cash used in operating activities | ($8.6 million) | ($11.1 million) | | Net cash provided by financing activities | $5.0 million | $6.0 million | | Net decrease in cash and cash equivalents | ($3.6 million) | ($5.1 million) | | Cash and cash equivalents at end of period | $1.6 million | $4.7 million | - The company has experienced recurring losses and negative cash flows since inception, leading management to conclude there is **substantial doubt about its ability to continue as a going concern** within one year[31](index=31&type=chunk)[32](index=32&type=chunk) - A key subsequent event was the announcement on May 3, 2024, that the **Phase 2 trial of ABP-450 for chronic migraine did not meet its primary or secondary endpoints**, prompting the company to implement cash preservation measures and review strategic options[32](index=32&type=chunk)[159](index=159&type=chunk) [Note 1. Organization](index=9&type=section&id=Note%201.%20Organization) The company is a clinical-stage biopharmaceutical firm that recently merged with a SPAC and faces going concern issues due to trial failures - AEON Biopharma is a clinical-stage biopharmaceutical company focused on developing its proprietary botulinum toxin complex, ABP-450, for debilitating medical conditions[27](index=27&type=chunk) - On July 21, 2023, the company completed its merger with Priveterra Acquisition Corp, a special purpose acquisition company (SPAC), and began trading on the NYSE American under the symbol "AEON"[28](index=28&type=chunk)[30](index=30&type=chunk) - As of March 31, 2024, the company had cash of **$1.6 million** and an accumulated deficit of **$591.6 million**, with the recent failure of its chronic migraine trial raising **substantial doubt about its ability to continue as a going concern**[31](index=31&type=chunk)[32](index=32&type=chunk) [Note 3. Forward Merger](index=16&type=section&id=Note%203.%20Forward%20Merger) The merger with Priveterra was accounted for as a $342.1 million asset acquisition, with a subsequent $348.0 million write-off of IPR&D - The merger with Priveterra was consummated on July 21, 2023, and was accounted for as an asset acquisition, with Priveterra as the accounting acquirer[77](index=77&type=chunk)[81](index=81&type=chunk) - The total purchase price was calculated at **$342.1 million**, which included the fair value of shares issued, contingent consideration, and replacement share-based awards[84](index=84&type=chunk) - Acquired in-process research and development (IPR&D) was valued at **$348.0 million** at closing and was subsequently written off to the consolidated statement of operations for the year ended December 31, 2023[83](index=83&type=chunk) [Note 5. Daewoong Convertible Notes](index=18&type=section&id=Note%205.%20Daewoong%20Convertible%20Notes) The company secured up to $15.0 million in financing from its partner Daewoong through senior secured convertible notes - On March 19, 2024, the company entered into a subscription agreement with its manufacturing partner, Daewoong, for up to **$15.0 million** in senior secured convertible notes[92](index=92&type=chunk) - The company received **$5.0 million** from Daewoong on March 24, 2024, and an additional **$10.0 million** on April 12, 2024, to support clinical development and for working capital[92](index=92&type=chunk)[157](index=157&type=chunk) - The license agreement with Daewoong was amended to include a termination clause if AEON ceases commercialization and clinical advancement of ABP-450, granting Daewoong a right to purchase related know-how for $1.00[93](index=93&type=chunk) [Note 6. Fair Value Measurements](index=19&type=section&id=Note%206.%20Fair%20Value%20Measurements) Significant non-cash charges arose from terminating forward purchase agreements and fair value adjustments to contingent consideration and warrant liabilities - On March 18, 2024, the company terminated its Forward Purchase Agreements with ACM and Polar, resulting in a recorded charge of **$20.3 million** and a reversal of the related subscription receivable and derivative liability[106](index=106&type=chunk)[107](index=107&type=chunk)[108](index=108&type=chunk) - The contingent consideration liability, related to milestone-based share issuances, increased significantly to **$168.1 million** as of March 31, 2024, resulting in a **$63.8 million expense** for the quarter due to changes in fair value[117](index=117&type=chunk) - The warrant liability increased to **$12.0 million**, resulting in a **$20.9 million expense** for the quarter; during the period, 6.2 million warrants were exercised on a cashless basis for 960,688 shares of common stock[119](index=119&type=chunk)[120](index=120&type=chunk)[122](index=122&type=chunk) [Note 10. Subsequent Events](index=29&type=section&id=Note%2010.%20Subsequent%20Events) The company announced the failure of its Phase 2 chronic migraine trial and secured an additional $10.0 million in financing - On May 3, 2024, the company announced that its Phase 2 trial of ABP-450 for the preventative treatment of chronic migraine **did not meet its primary or secondary endpoints**[159](index=159&type=chunk) - Following the negative trial results, the company immediately began cash preservation measures and a review of all strategic options[159](index=159&type=chunk) - On April 12, 2024, the company received the remaining **$10.0 million** in financing from Daewoong under their convertible note agreement[157](index=157&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the unsuccessful migraine trials, a significantly increased net loss driven by non-cash charges, and severe liquidity concerns [Overview](index=30&type=section&id=Overview) The company's development of ABP-450 has been set back by the failure of its chronic migraine trial, shifting focus to other indications - AEON is a clinical-stage biopharmaceutical company developing its proprietary botulinum toxin, ABP-450, for therapeutic uses, with initial programs in migraine, cervical dystonia, and gastroparesis[164](index=164&type=chunk)[166](index=166&type=chunk) - The Phase 2 trial for episodic migraine, reported in October 2023, **did not meet its primary endpoint** but showed statistical significance on some secondary endpoints[168](index=168&type=chunk) - The interim analysis of the Phase 2 trial for chronic migraine, reported in May 2024, **did not meet its primary or secondary endpoints**, leading the company to re-evaluate its development strategy and implement cash preservation measures[164](index=164&type=chunk)[169](index=169&type=chunk) - The Phase 2 study for cervical dystonia, with data released in September 2022, **met all primary endpoints**, and the company is in discussions with the FDA regarding a Phase 3 study design, contingent on capital resources[170](index=170&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) The net loss widened dramatically due to non-cash fair value adjustments, while R&D expenses decreased as clinical trials wound down Comparison of Operating Results (in thousands) | Expense Category | Q1 2024 (Successor) | Q1 2023 (Predecessor) | Change | | :--- | :--- | :--- | :--- | | Selling, General & Administrative | $4,649 | $3,841 | +$808 | | Research & Development | $5,732 | $9,205 | -$3,473 | | Change in fair value of contingent consideration | $63,769 | $0 | +$63,769 | | **Loss from operations** | **($74,150)** | **($13,046)** | **(+$61,104)** | | **Net loss** | **($118,018)** | **($17,639)** | **(+$100,379)** | - R&D expenses **decreased by $3.5 million (38%)** in Q1 2024 compared to Q1 2023, primarily due to the wind-down of Phase 2 clinical trials for migraine and cervical dystonia[200](index=200&type=chunk) - SG&A expenses **increased by $0.8 million (21%)**, mainly due to higher legal/professional fees related to the merger and increased D&O insurance costs as a public company[199](index=199&type=chunk) - Other loss, net **increased by $39.3 million**, driven by a $22.9 million loss on the termination of forward purchase agreements and a $20.9 million loss on the change in fair value of warrants[203](index=203&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) With only $1.6 million in cash and an accumulated deficit of $591.6 million, the company's ability to continue as a going concern is in substantial doubt - As of March 31, 2024, the company had **$1.6 million in cash and cash equivalents** and an accumulated deficit of **$591.6 million**[204](index=204&type=chunk) - Management has concluded there is **substantial doubt about the company's ability to continue as a going concern**, expecting current cash (including recent financing) to fund operations only through June 2024[211](index=211&type=chunk)[218](index=218&type=chunk) - In March and April 2024, the company secured a total of **$15.0 million** in financing from Daewoong through the issuance of senior secured convertible notes[208](index=208&type=chunk)[209](index=209&type=chunk) - The Forward Purchase Agreements, which were expected to provide capital, were terminated in March 2024; the company **did not receive any proceeds** and may be liable for up to $3.0 million in liquidated damages[207](index=207&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, AEON Biopharma, Inc is not required to provide the information under this item - The Company is a smaller reporting company and is not required to provide quantitative and qualitative disclosures about market risk[253](index=253&type=chunk) [Controls and Procedures](index=44&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls were not effective due to a material weakness in internal control over financial reporting - The company's certifying officers concluded that **disclosure controls and procedures were not effective** as of March 31, 2024[258](index=258&type=chunk) - A **material weakness was identified** related to an ineffective risk assessment over complex transactions, stemming from a lack of sufficient and qualified resources[259](index=259&type=chunk) - The company is implementing remediation plans, which include designing new controls for reviewing valuations and estimates, and engaging additional qualified resources or hiring new staff[263](index=263&type=chunk)[264](index=264&type=chunk) Part II - Other Information [Legal Proceedings](index=45&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in a lawsuit with Odeon Capital Group over an alleged unpaid deferred underwriting fee of $1.25 million - Odeon Capital Group LLC filed a lawsuit against the company on September 18, 2023, alleging failure to pay a **$1.25 million** deferred underwriting fee from the SPAC merger[268](index=268&type=chunk) - Odeon is seeking monetary damages for the full fee, punitive damages, and attorneys' fees; the company filed a motion to dismiss certain claims in November 2023[268](index=268&type=chunk) [Risk Factors](index=45&type=section&id=Item%201A.%20Risk%20Factors) No material changes have been made to the risk factors previously disclosed in the company's Annual Report on Form 10-K - There have been **no material changes** to the risk factors disclosed in the company's Annual Report on Form 10-K filed on May 14, 2024[269](index=269&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the quarter that were not previously disclosed - No unregistered issuances or sales of equity securities occurred during the quarter ended March 31, 2024, that were not already reported on a Form 8-K[270](index=270&type=chunk)
AEON Biopharma(AEON) - 2024 Q1 - Quarterly Results
2024-05-14 20:07
Exhibit 99.1 PRESS RELEASE AEON Biopharma Reports First Quarter 2024 Financial Results – Ongoing analysis of interim data from the Phase 2 study of ABP-450 in chronic migraine, which did not achieve its primary or secondary endpoints – – Evaluating next-steps across the Company’s late-stage clinical pipeline for ABP-450 that targets multiple indications – IRVINE, Calif., May 14, 2024 – AEON Biopharma, Inc. (“AEON” or the “Company”) (NYSE: AEON), a clinical-stage biopharmaceutical company focused on developi ...