AEON fails another migraine trial, shares halve as company reviews options

AEON Bio­phar­ma said its bot­u­linum tox­in treat­ment can­di­date failed a Phase 2 mi­graine study at the planned in­ter­im analy­sis. The com­pa­ny’s share price $AEON was halved in pre­mar­ket trad­ing on Fri­day.

An “un­ex­pect­ed place­bo ef­fect” spelled trou­ble for the tri­al. The com­pa­ny said it will eval­u­ate next steps for de­vel­op­ing ABP-450 and has “im­me­di­ate­ly com­menced cash preser­va­tion mea­sures and will re­view all strate­gic op­tions.”

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