AEONHIGH SIGNALFINANCIAL10-K

AEON experienced a massive deterioration in financial performance, swinging from $42M net income to -$39M loss while stockholders' equity collapsed to -$153M, alongside a 140% increase in outstanding shares suggesting significant dilutive financing.

The company has undergone severe financial distress with stockholders' equity turning deeply negative and profitability completely reversing, indicating potential solvency issues. The dramatic share count increase from 10.5M to 25.3M shares suggests heavy dilutive equity raises to fund operations, while new language about NYSE delisting risk confirms the company is struggling with exchange compliance requirements.

Comparing 2026-03-30 vs 2025-03-24View on EDGAR →
FINANCIAL ANALYSIS

AEON's financials show a company in severe distress, with net income collapsing from a $42M profit to a -$39M loss and stockholders' equity plummeting to -$153M, indicating the company is technically insolvent. While cash improved from $13K to $3M and current liabilities decreased, total liabilities nearly doubled to $60.6M, and the 140% increase in share count signals massive dilutive financing. The overall picture reveals a company burning through capital with deteriorating fundamentals despite some short-term liquidity improvements.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
+23023.1%
$13K→$3.0M

Cash position surged 23023.1% — strong cash generation or capital raise providing significant financial cushion.

Stockholders Equity
Balance Sheet
-1521.8%
-$9.4M→-$153.0M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Net Income
P&L
-193.4%
$42.0M→-$39.2M

Net income declined 193.4% — review whether driven by operations, interest costs, or non-recurring items.

Operating Income
P&L
-117.5%
$73.0M→-$12.8M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Current Assets
Balance Sheet
+113.7%
$1.6M→$3.4M

Current assets grew 113.7% — improving short-term liquidity or inventory/receivables build.

Capital Expenditure
Cash Flow
-98.7%
$306K→$4K

Capex reduced 98.7% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Total Liabilities
Balance Sheet
+91.1%
$31.7M→$60.6M

Liabilities grew 91.1% — significant increase in debt or obligations, assess impact on financial flexibility.

Total Assets
Balance Sheet
+77%
$3.1M→$5.6M

Asset base grew 77% — expansion through organic growth, acquisitions, or capital deployment.

R&D Expense
P&L
-71.1%
$14.2M→$4.1M

R&D spending cut 71.1% — could signal cost discipline or concerning reduction in innovation investment.

Current Liabilities
Balance Sheet
-51.3%
$14.1M→$6.9M

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2026-03-30
PRIOR — 2025-03-24
ADDED
As of March 23, 2026, there were 25,303,058 of the registrant s shares of Class A common stock, $0.0001 par value per share, outstanding.
If we fail to regain or maintain compliance with the continued listing requirements of the NYSE American, our common stock may be delisted, which could significantly reduce its liquidity, market visibility, and trading volume, increase price volatility, and negatively impact our ability to raise capital on favorable terms.
Such a delisting could materially adversely affect the market price of our common stock and our overall financial condition.
Business AEON is a biopharmaceutical company advancing its proprietary botulinum toxin complex ABP-450 as a biosimilar to Botox (onabotulinumtoxinA) with the goal of achieving full-label United States ( U.S.
Overview We are a biopharmaceutical company focused on developing ABP-450 as a biosimilar to Botox (onabotulinumtoxinA) for therapeutic indications.
+7 more — sign up free →
REMOVED
As of March 21, 2025, there were 10,532,802 of the registrant s shares of Class A common stock, $0.0001 par value per share, outstanding.
(the Daewoong Agreement ); AEON s ability to compete effectively with existing competitors and new market entrants; potential effects of extensive government regulation; AEON s future financial performance and capital requirements; AEON s ability to implement and maintain effective internal controls; the impact of supply chain disruptions; and the impact of macroeconomic developments beyond our control, such as health epidemics or pandemics, macro-economic uncertainties, social unrest, hostilities, natural disasters or other catastrophic events, on AEON s business.
( AEON ) is a biopharmaceutical company focused on developing its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection ( ABP-450 ), for debilitating medical conditions.
and its consolidated subsidiaries prior to the Merger ( Old AEON or the Predecessor ) and to AEON Biopharma, Inc.
Overview We are a clinical stage biopharmaceutical company focused on developing our botulinum toxin complex, prabotulinumtoxinA injection ( ABP-450 ), for debilitating medical conditions, with an initial focus on the neurosciences market.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →