AEON Biopharma Launches Proposed Public Offering

AEON Biopharma, Inc. (NASDAQ: AEON), a clinical-stage biopharmaceutical company focused on developing proprietary botulinum toxin complexes, has announced the launch of its proposed public offering. The company aims to raise $75 million through the issuance of 5 million shares at a price range of $14 to $16 per share. The offering is expected to close on or about October 13, 2021, subject to customary closing conditions.

AEON Biopharma's lead product candidate, ABP-450 (prabotulinumtoxinA) injection, is a proprietary botulinum toxin complex derived from the same source as Jeuveau, a cosmetic botulinum toxin product marketed by Evolus, Inc. (NASDAQ: EOLV). ABP-450 has a molecular weight of 900kDa, which is the same as Botox, and is being developed for various therapeutic indications, including migraine, cervical dystonia, gastroparesis, and posttraumatic stress disorder.

The company has completed Phase 2 studies for ABP-450 in cervical dystonia and is currently conducting Phase 2 studies for chronic and episodic migraine. AEON Biopharma plans to submit a Biologics License Application (BLA) for ABP-450 in the second half of 2022, seeking approval for the treatment of migraine and cervical dystonia.

AEON Biopharma's financial performance has been strong, with revenue of $100 million in 2021 and a market capitalization of $3.31 billion as of October 4, 2021. The company has a cash balance of $97 million as of June 30, 2021, which is expected to be sufficient to fund its operations into the fourth quarter of 2024.



The proposed public offering is expected to provide AEON Biopharma with the capital needed to fund the development and commercialization of ABP-450 and other pipeline products. The company plans to use the net proceeds from the offering for research and development expenses, including clinical trial costs, manufacturing and commercialization expenses, and general corporate purposes.

AEON Biopharma's management team has extensive experience in the biopharmaceutical industry, with a track record of successfully developing and commercializing botulinum toxin products. The company's board of directors includes industry veterans with expertise in biopharmaceutical development, manufacturing, and commercialization.



In conclusion, AEON Biopharma's proposed public offering is an important milestone in the company's development, providing the capital needed to fund the development and commercialization of its proprietary botulinum toxin complexes. With a strong financial performance, experienced management team, and promising pipeline, AEON Biopharma is well-positioned to capitalize on the growing market for therapeutic botulinum toxin products. Investors should closely monitor the company's progress as it works towards regulatory approval and commercialization of its lead product candidate, ABP-450.