Evolus

AEON Biopharma, Inc. announced a public offering of units including Common Stock and warrants, with Aegis Capital Corp. managing the offering. Proceeds will fund corporate needs. AEON focuses on developing ABP-450, a botulinum toxin complex for medical conditions, with exclusive rights in several territories.

Domestic botulinum toxin companies, including Hugel and Daewoong Pharmaceutical, are expanding into the U.S. market. Hugel aims to launch Retivo in the U.S. this year, targeting a 10% market share within three years. The U.S. Botox market, valued at $4.74 billion, is 30 times larger than Korea's, and AbbVie's dominance is declining. Daewoong's Jubo, already in the U.S., saw sales rise to $202 million. Medytox is also preparing to re-enter the U.S. market.

Evolus, Inc. granted 10,251 stock options and 31,049 RSUs to 16 new non-executive employees, and 40,286 stock options and 28,213 RSUs to Senior VP Umberto La Magna, all under the 2023 Inducement Incentive Plan, with a vesting commencement date of October 7, 2024.

AEON Biopharma announced positive FDA Biosimilar Advisory Meeting outcome for ABP-450 as a BOTOX® biosimilar, aligning on the 351(k) regulatory pathway. Comparative analytical studies start Q4 2024, with a BPD Type 2 meeting planned for 2025. AEON aims to bring prabotulinumtoxinA to the U.S. market for all BOTOX's approved and future therapeutic indications under a single approval, anticipating a Phase 3 program to compare ABP-450 with BOTOX®.