Eton Pharmaceuticals, Inc.

NASDAQ•ETON

CEO: Mr. Sean E. Brynjelsen

Sector: Healthcare

Industry: Biotechnology

Listing Date: 2018-11-13

Eton Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1. It also provides Zeneo hydrocortisone autoinjector for the treatment of adrenal crisis. Eton Pharmaceuticals, Inc. was incorporated in 2017 and is based in Deer Park, Illinois.

Contact Information

21925 W. Field Parkway, Suite 235, Deer Park, IL, 60010-7278, United States

847-787-7361

www.etonpharma.com

Market Cap

$810.62M

P/E (TTM)

-173.8

22.2

Dividend Yield

52W High

$32.31

52W Low

$13.09

52W Range

86%

Rank56Top 81.7%

2.5

F-Score

Modified Piotroski Analysis

Based on 8-year fundamentals

Weak • 2.5 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2018-2025

Financial Dashboard

Q4 2025 Data

Revenue

$21.28M+0.00%

4-Quarter Trend

EPS

$0.06+0.00%

4-Quarter Trend

FCF

-$22.12M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Strong Revenue and Profit Growth Total net revenues reached $79.95M USD in 2025, marking a 104.9% increase over $39.01M USD in 2024.

Product Sales Significantly Increased Product sales and royalties totaled $76.7M USD in 2025, driven by INCRELEX®, ALKINDI SPRINKLE®, and GALZIN® volume growth.

Positive Operating Cash Flow Net cash from operations was $10.52M USD in 2025, a substantial improvement from $0.97M USD reported in 2024.

Key Pipeline Progress Noted ET-600 NDA accepted with PDUFA date set for February 25, 2026, anticipating commercial launch shortly thereafter.

Risk Factors

Regulatory Pricing Reforms Impact Inflation Reduction Act reforms may adversely affect realized product prices and demand over time; outcomes remain uncertain.

Reimbursement Constraints Limit Revenue Third-party payor coverage limitations, formulary controls, and utilization management may constrain future net revenues.

Regulatory Approval Uncertainty Product candidates face risks regarding timely FDA approval; ET-700 requires a 2026 PET study for pivotal trials.

Intellectual Property Litigation Risk Dependence on acquired IP rights subjects the company to potential patent infringement lawsuits and associated costs.

Outlook

Advance Pipeline Candidates Plan to advance five late-stage candidates including ET-600, Amglidia®, ET-700, ET-800, and ZENEO® autoinjector.

ET-600 Commercial Launch Scheduled production for ET-600 launch inventory in Q1 2026, following anticipated FDA approval in February 2026.

ET-700 Clinical Trial Execution Scheduled to begin ET-700 proof-of-concept PET study during 2026 to support pivotal clinical trial initiation.

Maintain Commercial Operations Continue leveraging established sales force to commercialize eight existing rare disease products effectively in the U.S.

Peer Comparison

Revenue (TTM)

RIGL

$299.77M

+47.6%

ETON

$79.95M

+104.9%

ADCT

$79.18M

+4.4%

Gross Margin (Latest Quarter)

OCGN

100.0%

+0.0pp

BCYC

100.0%

+1705.8pp

LXRX

99.5%

+4.0pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
ALMS	$2.90B	-10.1	-72.7%	9.0%
CRVS	$1.34B	-32.5	-38.9%	0.3%
LXRX	$1.07B	-37.0	-18.6%	21.5%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

7.2%

Steady Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

75%

Volatile Cash Flow

Deep Research

Next earnings:May 14, 2026

EPS:$0.10

Revenue:$22.31M

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data