$AEON

AEON Biopharma, Inc.

CIK:0001837607|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Selling, general and administrative	$ 2,991	$ 3,258	$ 6,893	$ 6,383
Research and development	2,938	1,064	4,973	1,889
Change in fair value of contingent consideration	(10)	16	(15)	(3,472)
Total operating costs and expenses	5,919	4,338	11,851	4,800
Loss from operations	(5,919)	(4,338)	(11,851)	(4,800)
Other (loss) income:
Change in fair value of convertible notes	(213)	(1,854)	(8,940)	(3,485)
Change in fair value of warrants	4,941	(542)	9,597	86,187
Loss on issuance of warrants				(75,644)
Loss on extinguishment of debt			(76)
Loss on derivative liability	(1,700)		(1,743)
Other income, net	36	92	65	195
Total other (loss) income, net	4,764	(2,304)	(1,097)	7,253
(Loss) income before taxes	(1,155)	(6,642)	(12,948)	2,453
Net (loss) income	$ (1,155)	$ (6,642)	$ (12,948)	$ 2,453
Basic net (loss) income per share (in dollars per share)	$ (0.02)	$ (0.6)	$ (0.28)	$ 0.32
Diluted net (loss) income per share (in dollars per share)	$ (0.02)	$ (0.6)	$ (0.28)	$ 0.31
Weighted average shares of common stock outstanding used to compute basic net (loss) income per share	50,530,946	11,090,809	45,599,911	7,557,472
Weighted average shares of common stock outstanding used to compute diluted net (loss) income per share	50,530,946	11,090,809	45,599,911	7,848,566

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss) income		$ (12,948)	$ 2,453
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation		39	39
Stock-based compensation expense		3,591	3,311
Loss on issuance of warrants			75,644
Loss on extinguishment of debt		76
Change in fair value of convertible notes	$ 213	8,940	3,485
Change in fair value of warrants	(4,941)	(9,597)	(86,187)
Loss on derivative liability	1,700	1,743
Change in fair value of contingent consideration	(10)	(15)	(3,472)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets		(169)	(245)
Accounts payable		1,755	(2,003)
Accrued expenses and other liabilities		159	(3,018)
Other assets and liabilities		92	(7)
Net cash used in operating activities		(6,334)	(10,000)
Cash flows from investing activities:
Purchases of property and equipment			(4)
Net cash used in investing activities			(4)
Cash flows from financing activities:
Proceeds from PIPE Financing		4,208
Proceeds from issuance of at-the-market shares, net		2,551	84
Proceeds from issuance of public offering shares, net			18,346
Net cash provided by financing activities		6,759	18,430
Net increase in cash		425	8,426
Cash and cash equivalents at beginning of period		3,006	13
Cash and cash equivalents at end of period	$ 3,431	3,431	8,439
Non-cash financing activities:
Settlement of convertible notes with common shares		31,489
Reclassification of derivative liability to equity and warrant liabilities in connection with PIPE financing		16,622
Modification of cash-settled restricted stock units		$ 1,952
Cashless warrant exercises			$ 6,864

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 3,431,000	$ 3,006,000
Prepaid expenses and other current assets	562,000	392,000
Total current assets	3,993,000	3,398,000
Property and equipment, net	123,000	162,000
Operating lease right-of-use asset	931,000	1,052,000
Other assets	863,000	948,000
Total assets	5,910,000	5,560,000
Current liabilities:
Accounts payable	2,697,000	942,000
Accrued clinical trials expenses	933,000	1,426,000
Accrued compensation	1,897,000	2,872,000
Other accrued expenses	1,815,000	1,657,000
Total current liabilities	7,342,000	6,897,000
Convertible notes at fair value, including related party amount of $1,755 and $34,600 at June 30, 2026 and December 31, 2025, respectively	1,755,000	34,600,000
Operating lease liability	757,000	893,000
Derivative liability		14,879,000
Warrant liabilities	11,367,000	3,276,000
Contingent consideration liability	27,000	42,000
Other liabilities	23,000
Total liabilities	21,271,000	60,587,000
Commitments and contingencies (Note 7)
Stockholders' Deficit:
Class A common stock, $0.0001 par value; 1,040,000,000 and 500,000,000 shares authorized at June 30, 2026 and December 31, 2025, and 26,307,211 and 12,105,902 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	10,000	9,000
Additional paid-in capital	468,396,000	415,783,000
Accumulated deficit	(483,767,000)	(470,819,000)
Total stockholders' deficit	(15,361,000)	(55,027,000)
Total liabilities and stockholders' deficit	$ 5,910,000	$ 5,560,000