Eton Pharmaceuticals Inc. shares gained 2.71% in after-hours on Monday, November 22, 2021, and closed Monday’s trading at $4.54. However, in the regular trading session, ETON’s stock lost 3.07%. ETON shares have fallen 39.95% over the last 12 months, and they have moved down 13.50% in the past week. Over the past three months, the stock has lost 10.16%, while over the past six months, it has declined 47.75%.
Let’s have a look at its recent news and developments.
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ETON latest news
On November 15, 2021, Eton Pharmaceuticals, Inc announced its financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- ETON earned total revenue of $0.8 million for the third quarter of 2021, compared to zero revenue in Q3 2020.
- The total cost of revenue was $0.6 million in Q3 2021 compared to $0.14 million in Q3 2020.
- Total operating expenses were $6 million in Q3 2021 compared to $6.3 million in Q3 2020.
- It suffered a net loss of $6.1 million or diluted loss per share of $0.24 in Q3 2021 compared to a net loss of $6.5 million or diluted loss per share of $0.31 in the prior-year period.
- As of September 30, 2021, the company had cash and cash equivalents of $22.7 million.
ETON agreement with Tolmar Pharmaceuticals
On November 15, 2021, Eton Pharmaceuticals, Inc entered into a multi-year agreement with Tolmar Pharmaceuticals, Inc. to co-promote ALKINDI SPRINKLE®. Eton will use Tolmar’s 62-person sales force and its existing relationships in the pediatric endocrinology specialty for the sales of its product. Tolmar will receive a royalty on net sales growth above ALKINDI SPRINKLE®’s current baseline sales.
FDA approved ETON EPRONTIA™ (topiramate)
On November 08, 2021, the U.S. Food and Drug Administration (FDA) approved EPRONTIA™ (topiramate) oral solution, 25mg/mL. the EPRONTIA™ is a co-product developed by ETON and Azurity Pharmaceuticals. Azurity will commercialize the product and anticipate product availability before year-end.
EPRONTIA™ is used as a monotherapy for the treatment of partial-onset or primary generalized tonic-clonic seizures in patients 2 years of age and older.
ETON Acquired Carglumic Acid product
On October 28, 2021, Eton Pharmaceuticals, Inc acquired U.S. marketing rights to carglumic acid tablets.
The product is owned by Novitium Pharma, and it was approved by the U.S. Food and Drug Administration on October 13, 2021. The product is an AB-rated, substitutable generic version of Carbaglu®.
Well, as of this writing, there is no reason to justify its mixed performance on Monday. But we are pretty sure that it will perform well in the coming trading session on Tuesday.