AEON Biopharma, Inc. (AEON), a clinical-stage biopharmaceutical company developing a botulinum toxin complex, announced on Monday that it received a notice from the NYSE American regarding non-compliance with the continued listing standards of the exchange.
The notice, received on February 3, 2025, indicated that AEON is not in compliance with Section 1003(a)(i) of the NYSE American Company Guide due to a stockholders' equity deficit of $32.1 million as of September 30, 2024, and losses from continued operations in two of the last three fiscal years.
In response, AEON must submit a plan to regain compliance by March 5, 2025. If the NYSE Regulation accepts the plan, AEON will be subject to ongoing monitoring to ensure compliance. If the plan is not accepted, or if AEON fails to meet compliance standards by August 3, 2026, delisting proceedings may begin.
Despite the notice, AEON's common stock will continue to trade on the NYSE American, but with a ". BC" designation indicating its status as "below compliance." AEON remains committed to meeting the NYSE American's requirements and will continue to pursue its ongoing business operations.
The company is focused on advancing its proprietary botulinum toxin complex, ABP-450, which is under development for debilitating medical conditions, with a focus on neurosciences.
Currently, AEON is trading at $0.122 up by 6.00%.
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