- Executed a $15.3 million financing with milestone warrants providing potential for an additional $34.0 million in gross proceeds, supporting continued advancement of ABP-450's development program

- Upfront proceeds from financing provide cash runway into the first quarter of 2027

ALISO VIEJO, Calif., Aug. 12, 2026 (GLOBE NEWSWIRE) -- AEON Biopharma, Inc. ("AEON" or the "Company") (NYSE American: AEON), a biopharmaceutical company advancing ABP-450 as a biosimilar to BOTOX$(R)$ (onabotulinumtoxinA) for therapeutic use to achieve full-label U.S. market entry, today reported its financial results for the second quarter ended June 30, 2026, and provided a corporate update.

"The second quarter marked continued progress in advancing ABP-450 through the analytical phase of our biosimilar development program while also strengthening the Company's financial position," commented Rob Bancroft, President and Chief Executive Officer of AEON. "As we enter the second half of 2026, our primary focus is obtaining FDA feedback on the next phase of development, including the clinical pharmacology and comparative clinical study requirements for ABP-450. With the successful completion of our recently oversubscribed public offering, AEON is well positioned to execute on our near-term regulatory and corporate objectives as we continue advancing our goal of bringing a biosimilar to BOTOX(R) to the therapeutic market."

Second Quarter 2026 Highlights and Recent Developments

   -- Continued Advancement Toward BPD Type 2b Regulatory Feedback 
 
          -- AEON held a successful Biosimilar Biological Product Development 
             (BPD) Type 2a meeting with the U.S. Food and Drug Administration 
             (FDA) during the first quarter of 2026. During the meeting, the 
             Agency reviewed the Company's proposed analytical similarity 
             strategy under the 351(k) biosimilar pathway and provided feedback 
             supporting AEON's planned analytical development approach for 
             ABP-450. Collectively, the FDA's feedback provided AEON with 
             well-defined direction and a framework for the remaining 
             analytical components of its biosimilar development program. The 
             Agency also acknowledged the unique scientific challenges 
             associated with characterizing the 900 kDa botulinum neurotoxin 
             complex due to its large size and exceptional potency, while 
             providing constructive feedback on the Company's proposed 
             analytical assessment plan. The Company looks forward to feedback 
             from its planned BPD Type 2b interaction with the FDA in the 
             second half of 2026, which is expected to help inform the next 
             phase of development for ABP-450, including clinical pharmacology 
             and comparative clinical study requirements. 
 
   -- Strengthened Balance Sheet through a $15.3 Million Financing with 
      Milestone Warrants Providing Potential for an Additional $34.0 Million in 
      Gross Proceeds 
 
          -- In July 2026, the Company completed an underwritten public 
             offering that included net upfront proceeds of approximately $13.6 
             million, and up to an additional $34.0 million in potential gross 
             proceeds upon the cash exercise in full of the milestone warrants 
             issued in the offering. Upfront proceeds from the offering are 
             expected to provide cash runway into the first quarter of 2027. 
 
   -- NYSE American Compliance Restored 
 
          -- On August 3, 2026, the Company regained full compliance with NYSE 
             American continued listing requirements, resolving previously 
             identified deficiencies and maintaining its listing on the 
             exchange. 
 
   -- Presented Data and Advanced Scientific Engagement Supporting Analytical 
      Similarity to BOTOX(R) 
 
          -- In April 2026, the Company presented a poster at the 2026 American 
             Academy of Neurology (AAN) Annual Meeting entitled "Establishing 
             Primary Structure Comparability Between ABP-450 
             (prabotulinumtoxinA) and OnabotulinumtoxinA (Botox(R)) to Support 
             Biosimilarity." The poster expanded upon analytical data 
             previously reported by the Company demonstrating identical primary 
             amino acid sequence between ABP-450 and the reference product, 
             based on 93.5%--99.3% peptide sequence coverage. 
 
          -- In June 2026, the Company presented an Abstract at the American 
             Headache Society (AHS) Annual Meeting entitled "Establishing 
             Structural and Functional Comparability Between ABP-450 and 
             OnabotulinumtoxinA to Support Biosimilarity." 

Liquidity and Capital Resources

The Company reported cash and cash equivalents of $3.4 million as of June 30, 2026, which does not include approximately $13.6 million of net proceeds from the underwritten public offering that was completed in July 2026. Including those proceeds, cash and cash equivalents are expected to fund operations into the first quarter of 2027, supporting continued advancement of the ABP-450 program including ongoing analytical and regulatory activities.

ABP-450 Development Milestones & Scientific and/or Corporate Events

   -- Second half 2026: Receipt of additional FDA feedback expected to inform 
      the next phase of the ABP-450 biosimilar development program, including 
      clinical pharmacology and comparative clinical study requirements. 

About the U.S. Biosimilar Pathway

Analytical similarity forms the scientific foundation of the 351(k) pathway and represents the most data-intensive phase of biosimilar development. When analytical comparability across critical quality attributes is robustly demonstrated, the FDA may reduce the scope of required clinical studies under its totality-of-the-evidence framework. Sponsors may also seek extrapolation to additional indications of the reference product when scientifically justified.

About AEON Biopharma

AEON Biopharma is a biopharmaceutical company pursuing full-label access to the U.S. therapeutic neurotoxin market via biosimilarity to BOTOX(R) . The U.S. therapeutic neurotoxin market exceeds $3.0 billion annually, representing a major opportunity for biosimilar entry. ABP-450 is the same botulinum toxin complex currently approved and marketed for cosmetic indications by Evolus, Inc. under the name Jeuveau(R) . ABP-450 is manufactured by Daewoong Pharmaceutical in a facility that has been authorized by the U.S. Food and Drug Administration, Health Canada, and European Medicines Agency for the manufacture of third-party botulinum toxin products. AEON has exclusive development and distribution rights for therapeutic indications of ABP-450 in the United States, Canada, the European Union, the United Kingdom, and certain other international territories. To learn more about AEON, visit www.aeonbiopharma.com.

Forward-Looking Statements

The foregoing material may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company's product development and business prospects, and can be identified by the use of words such as "may," "will," "expect," "project," "estimate," "anticipate," "plan," "believe," "potential," "should," "continue" or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) AEON's ability to continue to meet continued stock exchange listing standards; (ii) the Company's ability to obtain additional and sufficient financing; (iii) the Company's anticipated financial performance, including cash and cash equivalents; (iv) the Company's plans regarding any interactions with the FDA; (v) the outcome of any regulatory interactions; and (vi) other risks and uncertainties set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's filings with the SEC, which are available on the SEC's website at www.sec.gov.

Contacts

Investor Contact:

Hershel Berry

Blueprint Life Science Group

hberry@Bplifescience.com

Source: AEON Biopharma

 
AEON BIOPHARMA, INC. 
 CONDENSED CONSOLIDATED BALANCE SHEETS 
 (in thousands, except share data and par value amounts) 
 
                                         June 30,   December 31, 
                                           2026           2025 
 
ASSETS 
Current assets: 
  Cash and cash equivalents             $   3,431    $      3,006 
  Prepaid expenses and other current 
   assets                                     562             392 
   Total current assets                     3,993           3,398 
Property and equipment, net                   123             162 
Operating lease right-of-use asset            931           1,052 
Other assets                                  863             948 
   Total assets                         $   5,910    $      5,560 
LIABILITIES AND STOCKHOLDERS' DEFICIT 
Current liabilities: 
  Accounts payable                      $   2,697    $        942 
  Accrued clinical trials expenses            933           1,426 
  Accrued compensation                      1,897           2,872 
  Other accrued expenses                    1,815           1,657 
   Total current liabilities                7,342           6,897 
  Convertible notes at fair value, 
   including related party amount of 
   $1,755 and $34,600 at June 30, 2026 
   and December 31, 2025, 
   respectively                             1,755          34,600 
  Operating lease liability                   757             893 
  Derivative liability                         --          14,879 
  Warrant liabilities                      11,367           3,276 
  Contingent consideration liability           27              42 
  Other liabilities                            23              -- 
   Total liabilities                       21,271          60,587 
Commitments and contingencies 
Stockholders' Deficit: 
  Class A common stock, $0.0001 par 
   value; 1,040,000,000 and 
   500,000,000 shares authorized at 
   June 30, 2026 and December 31, 
   2025, and 26,307,211 and 12,105,902 
   shares issued and outstanding at 
   June 30, 2026 and December 31, 
   2025, respectively                          10               9 
Additional paid-in capital                468,396         415,783 
Accumulated deficit                      (483,767)       (470,819) 
   Total stockholders' deficit            (15,361)        (55,027) 
Total liabilities and stockholders' 
 deficit                                $   5,910    $      5,560 
 
 
 
AEON BIOPHARMA, INC. 
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND 
 COMPREHENSIVE (LOSS) INCOME 
 (in thousands, except share and per share data) 
 
                        Three Months Ended      Six Months Ended 
                             June 30,                    June 30, 
                        2026          2025          2026          2025 
Operating 
expenses: 
  Selling, general 
   and 
   administrative   $     2,991   $     3,258   $     6,893   $    6,383 
  Research and 
   development            2,938         1,064         4,973        1,889 
  Change in fair 
   value of 
   contingent 
   consideration            (10)           16           (15)      (3,472) 
   Total operating 
    costs and 
    expenses              5,919         4,338        11,851        4,800 
Loss from 
 operations              (5,919)       (4,338)      (11,851)      (4,800) 
Other (loss) 
income: 
  Change in fair 
   value of 
   convertible 
   notes                   (213)       (1,854)       (8,940)      (3,485) 
  Change in fair 
   value of 
   warrants               4,941          (542)        9,597       86,187 
  Loss on issuance 
   of warrants               --            --            --      (75,644) 
  Loss on 
   extinguishment 
   of debt                   --            --           (76)          -- 
  Loss on 
   derivative 
   liability                 --            --        (1,743)          -- 
  Other income, 
   net                       36            92            65          195 
   Total other 
    loss, net             4,764        (2,304)       (1,097)       7,253 
(Loss) income 
 before taxes            (1,155)       (6,642)      (12,948)       2,453 
Income taxes                 --            --            --           -- 
Net (loss) income   $    (1,155)  $    (6,642)  $   (12,948)  $    2,453 
Basic net (loss) 
 income per share   $     (0.02)  $     (0.60)  $     (0.28)  $     0.32 
Diluted net (loss) 
 income per share   $     (0.02)  $     (0.60)  $     (0.28)  $     0.31 
Weighted average 
 shares of common 
 stock outstanding 
 used to compute 
 basic net (loss) 
 income per share    50,530,946    11,090,809    45,599,911    7,557,472 
Weighted average 
 shares of common 
 stock outstanding 
 used to compute 
 diluted net 
 (loss) income per 
 share               50,530,946    11,090,809    45,599,911    7,848,566 
 

The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"). The condensed consolidated financial statements include the accounts of the Company and its controlled subsidiaries.