AEON Biopharma Inc. Class A Common Stock (AEON)

FairStock Score: 13/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach AEON as a Graham-style analyst: what is tangible, what is proven, and what protects capital? The filings show a clinical-stage biopharmaceutical company with no revenue in the periods provided. In fiscal Q2 2026 (quarter ended June 30, 2026), net loss was $1.2M and diluted EPS was $0.02 negative. Fiscal Q1 2026 (quarter ended March 31, 2026) had a net loss of $11.8M and diluted EPS of $0.29 negative. Full-year 2025 (ended December 31, 2025) produced a net loss of $39.2M and diluted EPS of $3.95 negative, after full-year 2024 (ended December 31, 2024) reported net income of $42.0M and diluted EPS of $72.93. That swing leads FairStock's rules to label it TURNAROUND - Loss in latest year after earlier profits. The business is developing botulinum toxin candidates, including ABP-450, which has completed Phase 2 for cervical dystonia and has ongoing Phase 2 for migraine, but there is no approved product or revenue to judge a moat. Financial health is poor: trailing free cash flow is -$13.6M, a FairStock-calculated FCF yield of -118.9%, and FairStock calculations show Piotroski 0/9, Altman Z -114.95, and ROCE -141.53%. At the close on 2026-10-13, the price was $0.23, market cap $11.5M, FairStock-calculated P/E -0.05, and FairStock Score 13/100. A low price is not the same as cheap. With cash burn exceeding market value and binary trial risk, there is no margin of safety evident in these numbers.

In plain English: AEON Biopharma is a very small clinical-stage drug company with eight employees that is testing botulinum toxin treatments for neck spasms, migraine, and other conditions. It is not yet selling a product, it is losing money, and its reported results have swung from a prior profit to recent losses. At $0.23 on 2026-10-13, the price looks very cheap in dollar terms, but the business does not currently look strong enough for its numbers to support that price.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2022 10-K/A (period ended 2022-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer