Eton Pharmaceuticals, Inc. ETON

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

Eton is an innovative pharmaceutical company focused on developing and commercializing treatments for rare diseases. We currently have eight commercial rare disease products: INCRELEX®, ALKINDI SPRINKLE®, KHINDIVITM, GALZIN®, PKU GOLIKE®, Carglumic Acid, Betaine Anhydrous, and Nitisinone. We have five additional product candidates in late-stage development: ET-600, Amglidia®, ET-700, ET-800 and ZENEO® hydrocortisone autoinjector.

INCRELEX® – This biologic product was approved by the FDA in August 2005 as a treatment for children who suffer from severe primary insulin-like growth factor 1 deficiency (SPIGFD). The product is approved in 40 territories, including the United States and the European Union. We acquired and launched the product in December 2024.

Last close 50.00 2026-10-23
Market cap $1.43B 2026-06-30 share count
52-week range 14.27 - 66.37

Valuation FY2025 figures against the last close

P/S17.9x
P/E—
P/FCF140.2x
EV/EBITDA—
Dividend yield—
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $80.0M$39.0M$31.6M$21.3M$21.8M$39.0K$959.0K——
Cost of revenue $37.2M$15.6M$10.6M$6.9M$2.8M$436.0K$453.0K——
Gross profit $42.7M$23.4M$21.1M$14.3M$19.0M-$397.0K$506.0K——
R&D $7.8M$3.3M$3.3M$4.0M$6.2M$14.1M$11.6M$5.6M—
SG&A $35.8M$22.8M$18.9M$18.6M$14.3M$12.6M$7.6M$4.7M—
Total operating expenses $43.6M$26.0M$22.3M$22.6M$20.5M$26.7M$19.1M$10.3M—
Operating income -$844.0K-$2.6M-$1.2M-$8.3M-$1.5M-$27.1M-$18.6M-$10.3M—
Interest expense ——$1.1M$955.0K$1.0M$884.0K$98.0K——
Pre-tax income -$4.6M-$3.8M-$689.0K-$9.0M-$2.0M-$28.0M-$18.3M-$12.7M—
Income tax $43.0K$15.0K$247.0K$0$0————
Net income -$4.6M-$3.8M-$936.0K-$9.0M-$2.0M-$28.0M-$18.3M-$12.7M—
EPS, basic -0.17-0.15-0.04-0.36-0.08-1.33———
EPS, diluted ————-0.08-1.33-1.03-5.80—
Shares, diluted (wtd. avg.) 26.9M25.9M25.6M25.1M25.2M21.0M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $25.9M$14.9M$21.4M$16.3M$14.4M$21.3M$12.1M$26.7M$13.2M
Receivables $11.8M$5.4M$3.4M$1.9M$5.5M$48.0K$473.0K——
Inventory $15.4M$15.2M$911.0K$557.0K$550.0K$1.2M$380.0K——
Total current assets $60.6M$41.0M$26.8M$20.0M$23.6M$24.7M$15.0M$27.5M$13.3M
Property, plant and equipment $326.0K$34.0K$58.0K$72.0K$115.0K$811.0K$1.1M$773.0K$119.0K
Other intangibles $30.9M$34.9M$4.7M$4.8M$3.6M$575.0K$725.0K——
Total assets $92.1M$76.1M$31.7M$25.0M$27.5M$26.3M$17.1M$28.3M$13.4M
Accounts payable $11.0M$4.2M$1.8M$1.8M$1.8M$2.3M$575.0K$1.4M$539.0K
Short-term debt $8.8M$0$5.4M$1.0M$1.4M————
Total current liabilities $38.5M$19.9M$16.2M$6.5M$4.6M$3.8M$2.0M$2.0M$793.0K
Long-term debt $21.8M$29.8M$0$5.4M$5.3M$6.5M$4.5M——
Total liabilities $66.0M$51.7M$16.3M$12.0M$9.8M$10.7M$6.5M$2.0M$1.3M
Retained earnings -$112.5M-$107.9M-$104.1M-$103.1M-$94.1M-$92.2M-$64.2M-$45.9M-$8.6M
Total equity $26.2M$24.4M$15.5M$13.1M$17.6M$17.6M$10.6M$26.3M-$6.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $10.5M$969.0K$6.8M$4.8M-$4.7M-$22.3M-$18.0M-$8.1M—
Depreciation and amortisation $41.0K$50.0K$44.0K$66.0K$155.0K$347.0K$283.0K$51.0K—
Stock-based compensation $5.5M$3.2M$3.1M$4.2M$3.4M$2.6M$1.9M$1.9M—
Capital expenditure $333.0K$26.0K$0$38.0K$9.0K$50.0K$1.1M$236.0K—
Investing cash flow -$333.0K-$40.0M-$775.0K-$2.8M-$2.6M-$50.0K-$1.8M-$236.0K—
Financing cash flow $815.0K$32.6M-$957.0K-$134.0K$391.0K$31.6M$5.2M$22.0M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-013313.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -50M 0 50M 100M Net income, FY2018: -12.7M Revenue, FY2019: 959K Gross profit, FY2019: 506K Net income, FY2019: -18.3M Revenue, FY2020: 39K Gross profit, FY2020: -397K Net income, FY2020: -28M Revenue, FY2021: 21.8M Gross profit, FY2021: 19M Net income, FY2021: -2M Revenue, FY2022: 21.3M Gross profit, FY2022: 14.3M Net income, FY2022: -9M Revenue, FY2023: 31.6M Gross profit, FY2023: 21.1M Net income, FY2023: -936K Revenue, FY2024: 39M Gross profit, FY2024: 23.4M Net income, FY2024: -3.8M Revenue, FY2025: 80M Gross profit, FY2025: 42.7M Net income, FY2025: -4.6M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — $959.0K $39.0K $21.8M $21.3M $31.6M $39.0M $80.0M
Gross profit — — $506.0K -$397.0K $19.0M $14.3M $21.1M $23.4M $42.7M
Net income — -$12.7M -$18.3M -$28.0M -$2.0M -$9.0M -$936.0K -$3.8M -$4.6M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed Item 1.01
  • Acquisition or disposal completed Item 2.01
  • Results announced Item 2.02
  • Other event Item 8.01
  • Other event Item 8.01
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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