WASHINGTON (dpa-AFX) - AEON Biopharma, Inc. (AEON), a California-based clinical stage biopharmaceutical company, Monday announced the pricing of its public offering, with proceeds expected to be about $20 million.
The offering comprises 40 million common units, each available to the public for $0.50 per unit. The offering is expected to close on or around January 7.
The company expects to use the proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.
'We are pleased to reinforce our balance sheet with the capital needed to continue the development of ABP-450 as a biosimilar to BOTOX® for therapeutic uses,' said Marc Forth, President and CEO of AEON Biopharma. 'We believe the capital raised in this offering is sufficient to fund operations through 2025 and will facilitate the execution of the comparative analytical studies needed under the 351(k) regulatory pathway.'
Currently, AEON is trading at $0.1928 or 66.01% lower on the New York Stock Exchange.
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