AEON Biopharma Announces Strategic Resource Reprioritization and Cost Reduction Plan
IRVINE, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- AEON Biopharma, Inc. (“AEON” or the “Company”) (NYSE: AEON), a clinical-stage biopharmaceutical company focused on developing a proprietary botulinum toxin complex for the treatment of multiple debilitating medical conditions, announced a strategic reprioritization and cost reduction plan as the Company evaluates all financing options to support next steps across its late-stage clinical pipeline for ABP-450 that targets multiple indications.
- IRVINE, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- AEON Biopharma, Inc. (“AEON” or the “Company”) (NYSE: AEON), a clinical-stage biopharmaceutical company focused on developing a proprietary botulinum toxin complex for the treatment of multiple debilitating medical conditions, announced a strategic reprioritization and cost reduction plan as the Company evaluates all financing options to support next steps across its late-stage clinical pipeline for ABP-450 that targets multiple indications.
- “Following a strategic review of our resources, we made the decision to implement several cost reductions that will preserve cash while still supporting corporate activities.
- Upon securing additional capital, we would be positioned to announce a revised clinical development strategy for our pipeline of ABP-450 programs.
- These cost reduction actions will also include efforts to reduce additional operating costs and are expected to be substantially completed by June 2024.