Shares of Irvine-based AEON Biopharma Inc. (NYSE: AEON) jumped 9.8% in after-hours trading after reporting positive clinical data for its medication that treats cervical dystonia (CD) and posttraumatic stress disorder.
A poster titled, “Efficacy and Safety of ABP-450 (prabotulinumtoxinA) in Adults with Cervical Dystonia: Results From the Open-label Extension of a Phase 2 Trial,” was presented by Dr. Chad Oh, AEON’s chief medical officer at TOXINS 2024, a conference currently being held by the International Neurotoxin Association in Berlin.
Topline data from a recently completed open-label extension of the Phase 2 trial demonstrated that the company’s ABP-450 was generally safe and well tolerated in CD patients for up to four treatment cycles during the 52-week duration of the study.
The ABP-450 study was in adults with moderate to severe CD, a chronic and debilitating neurologic condition affecting the muscles of the neck
“We are excited to announce positive data,” AEON Chief Executive Marc Forth said in a statement.
He said the results support a proposed Phase 3 study that it will discuss with the FDA.
In regular trading before the annoucement, the shares were up 0.7% to $7.15 and a $266 million market cap.