Eton Pharmaceuticals Inc
NASDAQ:ETON
Eton Pharmaceuticals Inc
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.
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.
Record Revenue: Eton delivered another record quarter, with revenue up 129% year-over-year and 19% sequentially to $22.5 million, driven by strong growth in ALKINDI SPRINKLE, Carglumic Acid, and new products INCRELEX and GALZIN.
Profitability & Cash Flow: The company generated $12 million in operating cash flow and reported adjusted EBITDA of $2.9 million, despite nonrecurring costs related to INCRELEX's ex-U.S. transition.
Margin Outlook: Adjusted gross margin dropped to 45% this quarter due to one-off INCRELEX costs, but is expected to rebound to about 70% next quarter and reach over 75% by 2028.
INCRELEX Progress: INCRELEX patient count remains flat around 100 due to age-related discontinuations, but new patient starts are ongoing and growth is expected to continue.
Pipeline & Product Expansion: The company is advancing several pipeline assets—including a new formulation for KHINDIVI, the ET-700 extended-release version of GALZIN, and ET-600 for pediatric endocrinology.
M&A Activity: Eton is in late-stage discussions for two acquisitions of ultra-rare disease products and expects to add at least two new product launches next year.
Guidance: Management expects sequential U.S. product sales growth in Q4, though total product revenue may be flat or slightly down due to nonrecurring INCRELEX ex-U.S. sales.
