Botulinum toxin(University of Texas Medical Branch)

ROSEMONT, Ill., May 21, 2024 /PRNewswire/ -- The American Academy of Physical Medicine and Rehabilitation (AAPM&R) has today released spasticity guidance to establish a framework that reviews treatment options, endorses the highest quality of evidence-based care, and encourages research where there are knowledge gaps. Spasticity is a group of symptoms characterized by muscle tightening or reduced stretchability following injuries to or conditions affecting the brain and spinal cord, including stroke, cerebral palsy, multiple sclerosis, traumatic brain injury, or spinal cord injuries. Continue Reading When spasticity symptoms are recognized early, physicians can better manage and treat it through a range of therapies. Post this Spasticity symptoms include uncontrollable rhythmic, shaking movements, cramping, spasms, and tight, rigid muscles that cannot be stretched easily and may cause pain. Other symptoms may include incoordination, fatigue, weakness, and impaired motor control. Spasticity is often delayed and an evolving condition. If left untreated, spasticity can cause muscles to become stuck, leading to joint deformity. "Physicians have a growing toolbox of treatments for spasticity," said guidance author Dr. Preeti Raghavan, MBBS. "When patients or their caregivers recognize the symptoms of spasticity and seek treatment for those symptoms, we have even better chances to manage and treat their spasticity symptoms through a range of therapies." The first line of treatment and management interventions aimed at reducing the effects of spasticity is rehabilitative therapy. Simple, non-pharmacologic interventions that facilitate movement and improve function should be attempted before resorting to treatments that carry more risks and side effects. Therapeutic interventions can be used individually or in combination, including oral medications, injectables such as Botulinum toxin, and surgical options. An integrated, multi-disciplinary, goal-centered management approach is essential to providing long-term, comprehensive care for spasticity. PM&R physicians are leaders in recovery and regularly care for patients with conditions that cause spasticity, such as rehabilitating patients post-stroke or other conditions causing spasticity. Because of this, PM&R physicians have the necessary specialized equipment, supplies, and prior authorization procedures in place to treat spasticity patients and work with their insurance providers. The guidance is published in the PM&R Journal. The American Academy of Physical Medicine and Rehabilitation is the national medical specialty organization representing more than 10,000 physicians specializing in physical medicine and rehabilitation. PM&R physicians, also known as physiatrists, treat a wide variety of medical conditions affecting the brain, spinal cord, nerves, bones, joints, ligaments, muscles and tendons. PM&R physicians evaluate and treat injuries, illnesses and disability and are experts in designing comprehensive, patient-centered treatment plans. Physiatrists utilize cutting-edge as well as time-tested treatments to maximize function and quality of life. SOURCE American Academy of Physical Medicine and Rehabilitation

– Ongoing analysis of interim data from the Phase 2 study of ABP-450 in chronic migraine, which did not achieve its primary or secondary endpoints – – Evaluating next-steps across the Company’s late-stage clinical pipeline for ABP-450 that targets multiple indications – IRVINE, Calif., May 14, 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 financial results for the first quarter ended March 31, 2024, and provided a business update. “We continue to believe in our development pipeline for ABP-450, which targets a number of indications that have well-founded scientific rationale to pursue in early- and late-stage clinical trials. Several of the late-stage clinical programs are candidates to advance into the next phase of clinical development,” commented Marc Forth, AEON’s President and Chief Executive Officer. “We look forward to keeping you apprised of our progress and updated timelines across the development strategy for our pipeline.” Recent Clinical and Corporate Highlights Phase 2 study of ABP-450 in episodic and chronic migraine: Chronic Migraine - Interim Analysis: The topline interim analysis did not achieve its primary or secondary endpoints. The Company is continuing its analysis of interim data from the study. The Phase 2 randomized, double-blind, placebo-controlled study is evaluating the efficacy and safety of ABP-450 for the prevention of chronic migraine in adults who suffer from 15 or more headache days per month and at least 8 migraine days per month. The study has enrolled a total of 492 patients across approximately 50 sites in the United States, Canada and Australia.Episodic Migraine End-of-Phase 2 Meeting with U.S. FDA: In the first quarter of 2024, the Company held a productive end-of-Phase 2 (EOP2) meeting with the U.S. Food and Drug Administration to present the Company’s Phase 2 episodic migraine study results, which demonstrated a favorable safety profile for patients with episodic migraine and achieved key prespecified secondary endpoints, although it did not statistically separate from placebo with respect to the primary endpoint. The meeting resulted in a preliminary alignment on the design and endpoints for the proposed pivotal Phase 3 trial. Completed $15 Million Private Placement Agreements In April 2024, the Company received the second and final installment from its definitive agreements relating to a private placement of $15 million aggregate principal amount of senior secured convertible notes (the “Notes”) with its strategic partner, Daewoong Pharmaceutical Co., LTD (“Daewoong”). Proceeds from the private placement are being used for general working capital purposes.In connection with the receipt of the final installment of the Notes, Seongsoo (Shawn) Park was appointed to the Company’s Board of Directors as Daewoong’s representative. About AEON Biopharma AEON is a clinical stage biopharmaceutical company focused on developing its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection, or ABP-450, for debilitating medical conditions, with an initial focus on the neurosciences market. ABP-450 is the same botulinum toxin complex that is currently approved and marketed for cosmetic indications by Evolus under the name Jeuveau. ABP-450 is manufactured by Daewoong in compliance with current Good Manufacturing Practice, or cGMP, in a facility that has been approved by the U.S. Food and Drug Administration, Health Canada and European Medicines Agency. 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. The Company has built a highly experienced management team with specific experience in biopharmaceutical and botulinum toxin development and commercialization. To learn more about AEON, visit www.aeonbiopharma.com. Forward-Looking Statements Certain statements in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or AEON’s future financial or operating performance. For example, statements regarding the closing of each installment of the Private Placement, AEON’s expected capital resources and liquidity needs and the anticipated timing of AEON’s clinical results are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "plan", "possible", "forecast", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by AEON and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against AEON or others; (ii) AEON’s future capital requirements, including with respect to potential obligations pursuant to the forward purchase agreements; (iii) AEON’s ability to raise financing in the future; (iv) AEON’s ability to continue to meet continued stock exchange listing standards; (v) the possibility that AEON may be adversely affected by other economic, business, regulatory, and/or competitive factors; 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 Securities and Exchange Commission (the "SEC"), which are available on the SEC’s website at www.sec.gov. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. AEON does not undertake any duty to update these forward-looking statements. Contacts Investor Contact: Corey Davis, Ph.D. LifeSci Advisors +1 212 915 2577 cdavis@lifesciadvisors.com Source: AEON Biopharma AEON BIOPHARMA, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except share data and par value amounts) Successor Successor March 31, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents$1,558 $5,158 Prepaid expenses and other current assets 940 1,064 Total current assets 2,498 6,222 Property and equipment, net 307 332 Operating lease right-of-use asset 198 262 Other assets 29 29 Total assets$3,032 $6,845 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable$6,523 $3,388 Accrued clinical trials expenses 984 5,128 Accrued compensation 1,338 943 Forward purchase agreements liquidated damages 3,000 — Other accrued expenses 4,112 3,590 Total current liabilities 15,957 13,049 Convertible notes at fair value, including related party amount of $5,087 and $0, at March 31, 2024 and December 31, 2023, respectively 5,087 — Warrant liability 12,000 1,447 Contingent consideration liability 168,119 104,350 Embedded forward purchase agreements and derivative liabilities 250 41,043 Total liabilities 201,413 159,889 Commitments and contingencies Stockholders’ Deficit: Class A common stock, $0.0001 par value; 500,000,000 shares authorized at March 31, 2024 and December 31, 2023, and 38,120,288 and 37,159,600 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 4 4 Additional paid-in capital 393,235 381,264 Subscription receivables — (60,710)Accumulated deficit (591,620) (473,602)Total stockholders' deficit (198,381) (153,044)Total liabilities and stockholders' deficit$3,032 $6,845 AEON BIOPHARMA, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(in thousands, except share and per share data) Three Months Ended March 31, 2024 2023 Successor PredecessorOperating expenses: Selling, general and administrative$4,649 $3,841 Research and development 5,732 9,205 Change in fair value of contingent consideration 63,769 — Total operating costs and expenses 74,150 13,046 Loss from operations (74,150) (13,046)Other (loss) income: Change in fair value of convertible notes (87) (4,657)Change in fair value of warrants (20,903) — Loss on embedded forward purchase agreements and derivative liabilities, net (22,917) — Other income, net 39 64 Total other loss, net (43,868) (4,593)Loss before taxes (118,018) (17,639)Income taxes — — Net loss and comprehensive loss$(118,018) $(17,639)Basic and diluted net loss per share$(3.17) $(0.13)Weighted average shares of common stock outstanding used to compute basic and diluted net loss per share 37,268,074 138,825,356 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. On July 21, 2023, AEON completed the Merger with AEON Biopharma Sub, Inc. (“Old AEON”), with Old AEON surviving the merger as a wholly-owned subsidiary of the Company, the accounting acquirer. The transaction has been accounted for as a forward merger asset acquisition. Unless the context otherwise requires, the “Company,” for periods prior to the close of the Merger, refers to Old AEON, currently AEON Biopharma Sub, Inc. (“Predecessor”), and for the periods after the close of the Merger, refers to AEON Biopharma, Inc., including AEON Biopharma Sub, Inc. (“Successor”). As a result of the Merger, the results of operations, financial position and cash flows of the Predecessor and Successor are not directly comparable. AEON Biopharma Sub, Inc. was deemed to be the Predecessor entity. Accordingly, the historical financial statements of AEON Biopharma Sub, Inc. became the historical financial statements of the combined Company, upon the consummation of the Merger. As a result, the financial statements included in this release reflect (i) the historical operating results of AEON Biopharma Sub, Inc. prior to the Merger and (ii) the combined results of the Company, including AEON Biopharma Sub, Inc., following the closing of the Merger. The accompanying financial statements include a Predecessor period for the three months ended March 31, 2023, and a Successor period for the three months ended March 31, 2024. A black line between the Successor and Predecessor periods has been placed in the condensed consolidated financial statements and in the tables to the notes to the condensed consolidated financial statements to highlight the lack of comparability between these two periods.