AEON Biopharma Inc (AEON)

[glenn1919]

AEON............................https://stockcharts.com/h-sc/ui?s=AEON&p=W&b=5&g=0&id=p86431144783

[Monksdream]

AEON new 52=week low

[willlbone]

Dilution.

[glenn1919]

AEON.......................https://stockcharts.com/h-sc/ui?s=AEON&p=W&b=5&g=0&id=p86431144783

[Monksdream]

AEON under $3

[glenn1919]

AEON..............................................https://stockcharts.com/h-sc/ui?s=AEON&p=W&b=5&g=0&id=p86431144783

[DewDiligence]

AEON repositions ABP-450 as_a potential Botox biosimilar:

https://finance.yahoo.com/news/aeon-biopharma-announces-strategic-reprioritization-120000126.html

AEON is nearly insolvent (#msg-174417740), so it’s hard to see how they complete a phase-3 trial to obtain FDA approval using the 351(k) pathway.

This looks like another instance of Zebra’s Law.

Reminder: ABP-450 is the same drug as EOLS’ Jeuveau, sourced from Korea’s Daewoong.

[Monksdream]

AEON new 52 week low

[Monksdream]

AEON new 52 week low

[DewDiligence]

AEON—>55% workforce reduction—ABP-450 clinical development suspended:

https://finance.yahoo.com/news/aeon-biopharma-announces-strategic-reprioritization-120000294.html

Upon securing additional capital, we would be positioned to announce a revised clinical development strategy for our pipeline of ABP-450 programs.

AEON is all but insolvent—see #msg-174417740.

Reminder: ABP-450 is the same drug as EOLS’ Jeuveau, sourced from Korea’s Daewoong.

[DewDiligence]

AEON has a liquidity problem—1Q24 results:

https://www.globenewswire.com/news-release/2024/05/14/2881873/0/en/AEON-Biopharma-Reports-First-Quarter-2024-Financial-Results.html

Net current assets at 3/31/24 were negative ($13.5M). Hence, even after accounting for the $15.0M AEON received from its supplier, Daewoong in an Apr 2024 private placement, net current assets as of today are either close to zero or negative.

No CC.

[DewDiligence]

AEON plows on despite setbacks:

https://www.globenewswire.com/news-release/2024/05/09/2878729/0/en/AEON-Biopharma-Provides-Update-on-Development-Pipeline.html

[Monksdream]

AEON new 52+ week low

[DewDiligence]

AEON—(-53%)—reports failed phase-2 in migraine prevention:

https://finance.yahoo.com/news/aeon-biopharma-announces-preliminary-top-110000987.html

AEON Biopharma…today announced that the preliminary top-line results from its planned interim analysis of the Phase 2 trial with ABP-450 in the preventive treatment for chronic migraine did not meet the primary endpoint.

This is AEON’s second phase-2 failure in migraine, having whiffed in a prior phase-2 for treatment (rather than prevention) of episodic migraine (#msg-173058579).

AEON’s ABP-450 is the exact same drug as EOLS’ Jeuveau, sourced from Korea's Daewoong.

AEON’s lead indication had previously been cervical dystonia, but AEON backed off from CD after RVNC reported stellar data in that indication.

Please see #msg-172274907 for related info.

[DewDiligence]

Dilution from the redemption of warrants:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001837607/000183760724000017/aeon-20240329x8k.htm

[trglaa]

What happened here today?

[DewDiligence]

AEON 4Q23 financials:

https://www.globenewswire.com/news-release/2024/03/29/2854830/0/en/AEON-Biopharma-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-Results.html

[DewDiligence]

AEON updates plans for migraine program:

https://finance.yahoo.com/news/aeon-biopharma-announces-clinical-productive-203000664.html

[DewDiligence]

AEON sells $15M of convertible debt to_supplier, Daewoong:

https://finance.yahoo.com/news/aeon-biopharma-announces-15-million-202900910.html

[DewDiligence]

AEON presents phase-2 data in cervical dystonia:

https://finance.yahoo.com/news/aeon-biopharma-presents-positive-clinical-210500488.html

CD had been AEON’s lead indication for ABP-450, but AEON changed gears and made episodic migraine the lead indication after RVNC reported Daxxify data in CD (https://www.sec.gov/Archives/edgar/data/1837607/000110465923063774/tm2316532d1_ex99-1.htm ). When AEON’s phase-2 in episodic migraine failed in Oct 2023 (#msg-173058579), CD again became the lead indication by default.

The above PR also includes preclinical data for ABP-450 in PTSD (!?).

AEON needs to raise a significant amount of cash to conduct a phase-3 trial in any indication (#msg-173211412).

Reminder: ABP-450, sourced from Korea’s Daewoong, is the exact same toxin as EOLS’ Jeuveau. See #msg-172274907 for background info.

[DewDiligence]

AEON needs to raise cash very soon:

https://www.globenewswire.com/news-release/2023/11/13/2779046/0/en/AEON-Biopharma-Reports-Third-Quarter-2023-Financial-Results.html

The Company reported cash, cash equivalents and investments were approximately $16.2 million as of September 30, 2023.

The Company believes its cash, cash equivalents and investments will be sufficient to fund its planned clinical studies, as well as support corporate operations into mid-December 2023.

No quarterly CC.

[DewDiligence]

AEON phase-2 trial_in episodic migraine misses_ primary_endpoint:

https://finance.yahoo.com/news/aeon-biopharma-announces-topline-results-200500504.html

On the primary endpoint, the topline data showed ABP-450 had a treatment effect with mean reductions in MMD [monthly migraine days] of 4.8 days at the 150U dose (n = 99) and 5.0 days at the 195U dose (n = 108), compared to only 4.2 days in placebo (n = 98) at weeks 21-24, but did not meet statistical significance…

Episodic migraine is (was) ABP-450’s lead indication. The lead indication had previously been cervical dystonia, but AEON backed off from CD due, presumably, to RVNC’s stellar dataset in that indication.

AEON’s ABP-450 is the exact same drug as EOLS’ Jeuveau. Please see #msg-172274907 for related info.

[DewDiligence]

AEON's trading liquidity is so low it doesn't take much to move the share price. Today's news was actually minor in the overall scheme of things insofar as AEON has apparently put the brakes on its clinical program in cervical dystonia in order to pursue episodic migraine.

[trglaa]

Nice run today.

[DewDiligence]

AEON presents phase-2 data in cervical dystonia:

https://finance.yahoo.com/news/aeon-biopharma-presents-positive-results-120000687.html

Note: Episodic migraine, rather than cervical dystonia, is now AEON’s lead indication for ABP-450. This change is presumably due to RVNC’s robust data in cervical dystonia and the recent FDA approval of Daxxify for CD.

See #msg-172274963 for related info.

[DewDiligence]

AEON's initial press release:

https://finance.yahoo.com/news/aeon-biopharma-announces-closing-business-110000037.html

[TESLA777]

$AEON This is the one Im watching/trading tomorrow....GLTY......

[DewDiligence]

AEON’s corporate slide presentation:

https://www.sec.gov/Archives/edgar/data/1837607/000110465923063774/tm2316532d1_ex99-1.htm

Notably, AEON’s lead indication is now episodic migraine. AEON’s lead indication was previously cervical dystonia, so it seems reasonable to surmise that RVNC’s stellar data in CD altered AEON’s plans.

[DewDiligence]

AEON seeks_to_compete_in_the therapeutic—(rather than aesthetic)—market_for botulinum toxin. AEON's botulinum toxin, ABP-450 is the exact same product as EOLS’ Jeuveau, sourced from Korea's Daewoong.

[DewDiligence]

AEON Biopharma begins_trading_7/24/23_under_the_symbol, AEON, following the closing of the SPAC merger with PMGM:

https://finance.yahoo.com/news/priveterra-acquisition-corp-announces-completion-202700149.html