AEON Biopharma Reports Third Quarter 2024 Financial Results and Provides Corporate Update

Core Insights - AEON Biopharma is advancing its biosimilar development program for ABP-450 under the 351(k) regulatory pathway, utilizing BOTOX as the reference product [2][3] - The company plans to initiate primary comparative analytical studies in Q4 2024, contingent on securing capital resources [2][3] - AEON aims to hold a Biosimilar Biological Product Development Type 2 meeting with the FDA in 2025 to discuss study outcomes and next steps [3] Financial Performance - As of September 30, 2024, AEON reported current assets of $2.371 million, a decrease from $6.222 million at the end of 2023 [8] - Total liabilities stood at $36.094 million, significantly down from $159.889 million at the end of 2023 [9] - The company reported a net loss of $6.171 million for the third quarter of 2024, compared to a net loss of $297.711 million for the same period in 2023 [11] Corporate Developments - AEON completed a merger with AEON Biopharma Sub, Inc. on July 21, 2023, with the latter becoming a wholly-owned subsidiary [12] - The merger has been accounted for as a forward merger asset acquisition, affecting the comparability of financial results pre- and post-merger [13] - AEON has exclusive development and distribution rights for ABP-450 in the U.S., Canada, EU, UK, and other territories [4]