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Eton Pharmaceuticals, Inc.

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
$450.53M
P/E (TTM)
-67.6
40.4
Dividend Yield
--
52W High
$23.00
52W Low
$11.09
52W Range
48%
Rank69Top 93.9%
1.6
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Weak • 1.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2024

Financial Dashboard

Q3 2025 Data

Revenue

$22.46M+117.54%
4-Quarter Trend

EPS

-$0.07-389.26%
4-Quarter Trend

FCF

$11.74M+297.76%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Revenue Surge Nine months total revenues hit $58.67M, marking a substantial 114.4% increase versus prior year period driven by product sales.
Gross Profit Expansion Nine months gross profit reached $29.64M, increasing 75.0% due to strong product sales and royalties growth.
Strong Operating Cash Flow Operating cash flow provided $22.08M cash over nine months, a major improvement from $1.73M provided previously.
Cash Position Solidified Cash and equivalents totaled $37.12M at period end, supporting short-term liquidity needs for the next twelve months.

Risk Factors

Net Loss Widening Nine months net loss widened to $(6.08M) compared to $(3.23M) loss last year due to higher operating expenses.
Customer Concentration Exposure High customer concentration risk exists; AnovoRx accounted for 85.8% of net product revenues for the nine months.
ESPP Issuance Halted ESPP share issuance suspended for nine months 2025 due to failure filing required INCRELEX® financial statements.
Substantial Long-Term Debt Long-term debt stands at $27.59M, requiring quarterly principal payments starting May 2026, impacting future cash flow.

Outlook

Advancing Late-Stage Pipeline Five late-stage candidates including ET-600 and Amglidia® are advancing development efforts to expand rare disease portfolio.
Liquidity Runway Confirmed Current cash plus product revenues expected sufficient to fund operations for at least the next twelve months period.
Increased R&D Investment R&D spending rose due to $2.16M NDA filing fee for ET-600 and increased ET-700/ET-800 project costs.
Evaluating Tax Disclosure Changes Evaluating impact of new FASB ASU 2023-09 regarding income tax disclosures, effective for annual periods beginning 2025.

Peer Comparison

Revenue (TTM)

Rigel Pharmaceuticals, Inc.RIGL
$282.08M
+79.1%
Lexicon Pharmaceuticals, Inc.LXRX
$70.86M
+1255.2%
Eton Pharmaceuticals, Inc.ETON
$70.32M
+102.8%

Gross Margin (Latest Quarter)

Alumis Inc.ALMS
100.0%
+0.0pp
Ocugen, Inc.OCGN
100.0%
+0.0pp
Lexicon Pharmaceuticals, Inc.LXRX
99.3%
+9.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ALMS$1.09B-4.4-75.5%7.7%
RIGL$768.81M6.9204.7%25.1%
DRUG$608.32M-64.9-19.8%0.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
24.5%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Mar 17, 2026
|
EPS:$0.12
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $22.46M+117.5%
    |
    EPS: $-0.07-389.3%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $18.93M+108.6%
    |
    EPS: $-0.10-19.9%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 13, 2025|
    Revenue: $17.28M+116.9%
    |
    EPS: $-0.06+85.7%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 18, 2025|
    Revenue: $39.01M+23.3%
    |
    EPS: $-0.15-311.0%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $10.32M+46.9%
    |
    EPS: $0.02-207.6%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $9.07M-24.4%
    |
    EPS: $-0.12-166.7%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $7.97M+50.2%
    |
    EPS: $-0.03-71.4%
    Beat

  • Form 10-K/A - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 22, 2024|
    Revenue: $31.64M+48.9%
    |
    EPS: $-0.04+89.9%
    Beat