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IRVINE, Calif. - AEON Biopharma, Inc. (NYSE: AEON), a clinical-stage biopharmaceutical company, announced today that its Board of Directors has approved a 1-for-72 reverse stock split. Investors tracking such corporate actions can leverage InvestingPro’s comprehensive monitoring tools to stay ahead of important stock events and receive real-time alerts on similar corporate developments. The action aims to elevate the company’s common stock price to align with NYSE American LLC compliance requirements. This change is scheduled to take legal effect at the beginning of the trading day on February 26, 2025, and the common stock will trade under the same ticker symbol "AEON" but with a new CUSIP number.
The decision for the reverse stock split followed a Special Meeting of Stockholders held on Monday, where stockholders authorized the amendment of the company’s certificate of incorporation. This allowed the reverse stock split of its common stock at a ratio within the range of 1-for-5 to 1-for-150, as deemed appropriate by the Board. The final ratio was set at 1-for-72 after the meeting.
AEON Biopharma clarified that the reverse stock split will not alter the ownership percentage of its stockholders, except for adjustments due to fractional shares, which will be rounded up to the nearest whole share rather than issued.
The company’s focus is on the development of its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection, for medical conditions within the neurosciences market. ABP-450 is manufactured by Daewoong, following current Good Manufacturing Practices, and is already approved in several international territories for cosmetic use under the name Jeuveau. For deeper insights into biotech sector performance and peer comparisons, InvestingPro offers specialized healthcare sector analysis tools and exclusive ProTips to help investors evaluate clinical-stage companies.
The reverse stock split details have been filed with the Securities and Exchange Commission in a Current Report on Form 8-K on February 24, 2025. This move is part of AEON’s efforts to maintain its listing on the NYSE American, ensuring that it meets the minimum share price requirements set by the exchange.
This announcement contains forward-looking statements regarding AEON’s product development and business prospects. These statements are based on current plans and projections, which are subject to risks, uncertainties, and the possibility of changes due to various factors. The information is based on a press release statement from AEON Biopharma.
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