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ETON · NASDAQ · Drug Manufacturers - Specialty & Generic

Eton Pharmaceuticals

Develops and commercializes rare-disease therapies through product launches and rights agreements.

$59.78

After-hours close−0.01 (−0.02%)

At close$59.79(−4.60%)

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Profile

Eton Pharmaceuticals, Inc.ETONHealth Care

Develops, acquires, and commercializes rare-disease therapies through a single reportable segment. Product launches and commercialization-rights agreements expand a focused portfolio supported by specialized sales and marketing.

Develops, acquires, and commercializes rare-disease therapies through a single reportable segment. Its commercial portfolio includes KHINDIVI, INCRELEX, and HEMANGEOL; the sale of hospital-product rights sharpened the business around rare diseases.

The portfolio grows through product launches and commercialization-rights agreements. U.S. commercialization rights for HEMANGEOL support that model, while the IMPAVIDO rights agreement is scheduled to take effect and is not yet a current commercial product.

Execution depends on FDA approvals, product-rights agreements, and a small specialized sales-and-marketing organization. The operating model is built around commercial execution for a focused rare-disease portfolio.

Company facts

CEOSean E. Brynjelsen

ListedNov 13, 2018

ExchangeNASDAQ

HeadquartersDeer Park, IL

CountryUnited States

Employees44

CIK0001710340

ISINUS29772L1089

Key statistics

Market cap$1.64B

EPS (ttm)$0.3846

P/E (ttm)155.43

ROE40.1%

P/B35.47

P/S15.51

Dividend yield—

Beta0.16vs XLV 0.34

Year to date +268% · Average volume (30d) 635.9K

Analysts

Price target, next 12 months$68.00+13.8%Median of 7 analysts · vs the Aug 28 close

ConsensusBuy7 of 7 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $59.78

High$70.00+17.1%

Median$68.00+13.8%

Low$62.00+3.7%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 14, 2026	Canaccord Genuity	Reiterate	Buy	$60	$68
Aug 14, 2026	H.C. Wainwright	Target		$65	$70
Aug 11, 2026	H.C. Wainwright	Reiterate	Buy	$57	$65
Jul 28, 2026	Craig-Hallum	Reiterate	Buy	$15	$62
Jul 16, 2026	Canaccord Genuity	Target			$60

Earnings

EPS

Estimate$0.34

ReportedDue Nov 5, 2026

Revenue

Estimate$42.0M

ReportedDue Nov 5, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 13, 2026Q2 FY26	$0.19	$0.43	+126.6%	$27.1M	$37.6M	+38.7%	+44.26%
May 14, 2026Q1 FY26	$0.10	$0.05	−50.0%	$22.3M	$24.3M	+8.8%	+1.00%
Mar 19, 2026Q4 FY25	$0.12	$0.05	−58.3%	$20.0M	$21.3M	+6.5%	+7.46%
Nov 6, 2025Q3 FY25	$0.16	−$0.07	−143.8%	$20.5M	$22.5M	+9.7%	−11.70%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$17.3M	$18.9M	$22.5M	$21.3M	$24.3M	$37.6M
Gross profit	$9.9M	$11.9M	$7.9M	$13.1M	$14.7M	$25.4M
Operating income	−$470.0K	−$1.5M	−$1.4M	$2.5M	$2.4M	$12.8M
Net income	−$1.6M	−$2.6M	−$1.9M	$1.5M	$1.6M	$11.6M
Diluted EPS	−$0.06	−$0.10	−$0.07	$0.05	$0.05	$0.35
Gross margin	57.1%	63.0%	35.0%	61.6%	60.7%	67.6%
Operating margin	-2.7%	-7.8%	-6.1%	11.6%	9.9%	34.0%

Fiscal years (4-quarter sums)FY21 $21.8M · FY22 $21.3M · FY23 $31.6M · FY24 $39.0M · FY25 $80.0M

Revenue by product · Q2 FY26

Product$37.6M · 100%

Balance sheet, Jun 30, 2026Cash & short-term investments $26.8M · Total debt $29.0M · Total assets $115.8M · Shareholders' equity $46.6M

Dividends

No dividends on record.

Ownership

Institutions 73.22%20.06M sharesInsiders 5.16%1.41M sharesOther 21.62%5.92M shares

Shares outstanding 27.39M · Float 21.05M · 76.8% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Ecor1 Capital, LLC	2.17M	7.93%	13F	Aug 14, 2026
BlackRock, Inc.	1.90M	6.92%	13F	Aug 7, 2026
Nantahala Capital Management, LLC	1.18M	4.29%	13F	Aug 19, 2026
Vanguard Capital Management LLC	976.6K	3.57%	13F	Aug 13, 2026
Sean Brynjelsen · director, officer: President & CEO	961.2K	3.51%	Form 4	Aug 20, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 28, 2026	Paul V. Maier	director	−50,000	$59.07
Aug 24, 2026	David Krempa	officer: Chief Business Officer	−25,000	$65.07
Aug 20, 2026	Sean Brynjelsen	director, officer: President & CEO	−91,022	$60.70
Aug 19, 2026	Sean Brynjelsen	director, officer: President & CEO	−8,978	$62.65
Jul 14, 2026	Opaleye Management Inc.	10 percent owner	−28,315	$37.54