Failing to meet the primary endpoint in a clinical trial can significantly impact a biopharmaceutical company's valuation and investor sentiment, especially for companies focused on developing a limited number of products. This news directly impacts AEON Biopharma, as ABP-450 is likely a key asset in its pipeline. The negative outcome of the Phase 2 study could lead to a decrease in stock price in the short term due to reduced investor confidence in the product's potential for success.