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Eton Pharmaceuticals Inc
NASDAQ:ETON

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Eton Pharmaceuticals Inc Logo
Eton Pharmaceuticals Inc
NASDAQ:ETON
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Price: 27.1 USD 2.67% Market Closed
Market Cap: $726.8m

Eton Pharmaceuticals Inc
Investor Relations

Eton Pharmaceuticals, Inc. engages in the development, acquisition, and commercialization of prescription drug products. The company is headquartered in Deer Park, Illinois and currently employs 17 full-time employees. The company went IPO on 2018-11-09. Eton is primarily focused on hospital injectable and pediatric rare disease products. The Company’s Biorphen product is an alpha-1 adrenergic receptor agonist indicated for the treatment of clinically important hypotension resulting primarily from vasodilation in the setting of anesthesia. Its Alkindi Sprinkle product is a replacement therapy for pediatric adrenal insufficiency (AI), including congenital adrenal hyperplasia (CAH) in patients from birth to less than 17 years of age. Its product pipeline includes Zonisamide Oral liquid, Topiramate Oral Solution, Cysteine Injection, Dehydrated Alcohol Injection, Ephedrine Injection and Lamotrigine Oral Suspension. The firm's product candidates are primarily focused on two core areas: hospital-based products and pediatric oral liquid products.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 19, 2026
AI Summary
Q4 2025

Revenue: Q4 product revenue was $21.3 million, up 83% year-over-year driven by Alkindi and newly relaunched products.

Profitability: GAAP net income was $1.5 million in Q4 and adjusted EBITDA was $6.2 million (29% margin); management expects materially higher full-year margins as revenue scales.

Guidance: 2026 revenue is expected to exceed $110 million; management gave an adjusted EBITDA margin target (management commentary varied between at least 3% and above 30% for full year commentary).

New launch: Desmoda (oral liquid desmopressin) launched after FDA approval; management is seeing strong early demand and reaffirmed a pediatric-driven $30M–$50M peak sales thesis while exploring incremental adult opportunity.

M&A: Eton acquired HEMANGEOL for $14 million in cash and plans a May 1 relaunch with a rare-disease distribution model and Eton Cares patient support to improve economics and access.

Pipeline & label work: Plans active clinical programs in 2026 including an Increlex label-harmonization study (protocol submitted, first patient expected in Q3) and a PET proof-of-concept for ET-700 with topline later this year.

Access & patient support: Eton Cares and zero-dollar copay programs are central to uptake strategies (Galzin reached 300 active patients; Alkindi/Khindivi franchise at ~12% penetration of a ~5,000 child target).

Key Financials
Revenue (Q4 2025)
$21.3 million
Adjusted gross profit (Q4 2025)
$15.5 million
Adjusted gross margin (Q4 2025)
73%
Cost of sales (Q4 2025)
$8.2 million
Adjusted EBITDA (Q4 2025)
$6.2 million
Adjusted EBITDA margin (Q4 2025)
29%
GAAP net income (Q4 2025)
$1.5 million
Cash on hand (Q4 2025)
$25.9 million
R&D expense (Q4 2025)
$1.8 million
G&A expense (Q4 2025)
$8.9 million
2026 revenue guidance
exceed $110 million
Desmoda peak sales estimate
$30 million to $50 million
Alkindi/Khindivi target market
approximately 5,000 children
Increlex current patients on therapy
over 100 patients
HEMANGEOL acquisition price
$14 million
ET-700 peak potential (company estimate)
more than $100 million
FDA annual program fee per strength (FY2026)
$442,000
Earnings Call Recording
Other Earnings Calls

Management

Mr. Sean E. Brynjelsen
President, CEO & Director
No Bio Available
Mr. James R. Gruber CPA
CFO, Treasurer & Secretary
No Bio Available
Mr. David C. Krempa
Chief Business Officer
No Bio Available
Danka Radosavljevic
Senior Vice President of Quality & Operations
No Bio Available
Mr. Scott Grossenbach
Vice President of Sales Operations
No Bio Available
Mr. Kevin Guthrie
Executive VP of Commercial Operations
No Bio Available

Contacts

Address
ILLINOIS
Deer Park
21925 W Field Pkwy Ste 235
Contacts
+18477877361.0
etonpharma.com
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