AEON Biopharma Receives Additional Non-Compliance Notice from NYSE American: What Investors Need to Know

Key Highlights:

• AEON Biopharma, Inc. (NYSE American: AEON) has received a new notice from NYSE American for not meeting continued listing standards due to a significant stockholders’ deficit.
• This new notice follows a previously disclosed compliance issue and increases the risk of eventual delisting if compliance is not regained.
• AEON’s common stock will continue trading under the symbol “AEON” but will carry a “.BC” indicator, denoting below compliance status.
• Company has reported a stockholders’ deficit of approximately \$55 million as of December 31, 2025, with losses in three out of the past four fiscal years.
• AEON is executing a NYSE American-approved plan to regain compliance by August 3, 2026, with the right to appeal any potential delisting determination.

Detailed Investor Update

AEON Biopharma, Inc., a clinical-stage biopharmaceutical company advancing ABP-450 (prabotulinumtoxinA) as a biosimilar to BOTOX^®, announced it received an additional notice from NYSE American LLC regarding non-compliance with continued listing standards. This notice, received on March 31, 2026, was triggered by the company’s financial results for the year ended December 31, 2025.

The latest compliance concern relates to Section 1003(a)(ii) of the NYSE American Company Guide, which mandates that listed companies maintain at least \$4.0 million in stockholders’ equity if they have reported losses from continuing operations and/or net losses in three out of the four most recent fiscal years. AEON’s reported stockholders’ deficit was approximately \$55 million as of the end of 2025, and the company has now posted losses in three of the last four years.

This development follows a prior notice issued on February 3, 2025, when AEON fell below the \$2.0 million equity threshold set out in Section 1003(a)(i) due to losses in two of the last three years. At that time, NYSE American accepted AEON’s compliance plan, granting the company until August 3, 2026 (the “Plan Period”) to restore compliance.

What This Means for Shareholders:

• Escalating Compliance Issues: The company is now officially non-compliant with a higher equity threshold, reflecting deepening financial challenges. This situation increases the risk of delisting if AEON cannot demonstrate progress or regain compliance within the designated Plan Period.
• Stock Trading Status: AEON shares will continue to trade on NYSE American but will display a “.BC” indicator for below compliance. The company will remain on NYSE’s non-compliant issuers list, signaling elevated risk to investors and potentially impacting investor sentiment and share price.
• No Immediate Impact on Operations: The notice does not affect AEON’s business operations or SEC reporting obligations; however, it does highlight a need for strategic financial action, such as capital raises, to avoid delisting.
• Potential Delisting Proceedings: If AEON fails to regain compliance by August 3, 2026, or does not make satisfactory progress, NYSE American may initiate delisting procedures. AEON would have the right to appeal any delisting decision.

Company Overview and Forward-Looking Statements

AEON Biopharma is aiming for full-label approval of ABP-450 as a biosimilar for therapeutic neurotoxin indications in the U.S., targeting a market valued at over \$3 billion annually. ABP-450 is already approved for cosmetic use under the name Jeuveau^® and is manufactured in FDA-approved facilities. AEON holds exclusive therapeutic development and distribution rights for ABP-450 across the U.S., Canada, the EU, the UK, and other territories.

Risks and Uncertainties: AEON cautions that forward-looking statements are subject to significant risks, including the outcome of legal proceedings, future capital requirements, ability to raise funds, ongoing compliance with exchange standards, and other competitive, business, and regulatory risks. These are detailed under “Risk Factors” in the company’s SEC filings.

Investor Contacts

For further information, investors may contact Laurence Watts at New Street Investor Relations ([email protected], +1 619 916 7620).

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy, sell, or hold any security. Investors should conduct their own due diligence and consult with financial advisors before making any investment decisions. The information provided reflects public disclosures and forward-looking statements subject to risks detailed in AEON Biopharma’s SEC filings.

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