AEON Biopharma, Inc. Class A (AEON)

In November 2025, AEON reported positive biosimilarity data for ABP-450 and announced two financing transactions to strengthen its balance sheet and extend its cash runway. However, the company's stock experienced a significant decline over the past year. In December 2025, a failed migraine trial led to a plunge in shares and a cost-reduction plan. In January 2026, AEON Biopharma held a meeting with the FDA and reported shareholder approval of the November transactions, but the stock price decreased and its price target was lowered.

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AEON Biopharma, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for debilitating medical conditions, particularly in the neurosciences market. Their lead product candidate, ABP-450 (prabotulinumtoxinA) injection, is being developed as a biosimilar to BOTOX® for various therapeutic indications and is in Phase 2 studies for cervical dystonia, chronic and episodic migraine, and is also being developed for gastroparesis and post-traumatic stress disorder. The company is also advancing AES-103, AES-201, and AES-104 for other conditions in preclinical or early clinical stages.

AEON Biopharma is headquartered in Irvine, California, United States. They hold exclusive development and distribution rights for ABP-450 in the United States, Canada, the European Union, the United Kingdom, and certain other international territories. ABP-450 is already approved as a biosimilar in India, Mexico, and the Philippines.

AEON Biopharma's brand reputation has been affected by both challenges and positive developments in the past year. The failed migraine trial and the NYSE American notice of non-compliance due to a stockholders' equity deficit negatively impacted the company's reputation. However, the positive biosimilarity data for ABP-450 and its advancement through the FDA's biosimilar pathway could positively contribute to its reputation.

AEON Biopharma's ownership includes institutional, corporate, and individual investors. Institutional ownership accounts for approximately 7.01% of shares outstanding, while individuals/insiders hold about 14.26%, and public and other entities hold 28.53%. Corporations (Public) hold 49.99% and Corporations (Private) hold 0.21%. Major institutional shareholders include Dauntless Investment Group, LLC, Vanguard Group Inc, Geode Capital Management, Llc, Blue Owl Capital Holdings LP, StoneX Group Inc., XTX Topco Ltd, Jane Street Group, Llc, VEXMX - Vanguard Extended Market Index Fund Investor Shares, UBS Group AG, and BlackRock, Inc.