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Why AEON Biopharma Stock Is Down 65% Today
AEON Biopharma, Inc. AEON | 0.13 | -4.41% |
AEON Biopharma Inc (NASDAQ:AEON) shares are trading lower by 65% to 19 cents during Monday’s session after the company announced the pricing of a $20 million offering of 40 million units at 50 cents per unit.
The funds will support AEON's development of ABP-450, a biosimilar to BOTOX for therapeutic use and enable comparative studies under the 351(k) pathway. CEO Marc Forth stated the capital will sustain operations through 2025, with plans for a regulatory meeting to discuss next steps.
The deal, led by Aegis Capital, includes a 45-day option for additional securities. Closing is expected January 7, subject to standard conditions, with proceeds allocated for corporate needs and working capital.
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Should I Sell My AEON Stock?
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold.
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AEON has a 52-week high of $17.17 and a 52-week low of $0.16.