Eton Pharmaceuticals, Inc. (ETON)
Nasdaq · Pharmaceutical Preparations · Manufacturing · CIK 1710340 · fiscal year ends in Dec
Closing price $53.70 on 29 Oct 2026; 52-week range $14.35 to $64.43.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $105.6M
- Revenue growth
- 81.5%
- Net income, last twelve months
- $12.7M
- Earnings per share
- $0.39
- Gross margin
- 57.9%
- Operating margin
- 15.4%
- Net margin
- 12.0%
- Return on equity
- 27.2%
- Market value
- $1.5B
- Price to earnings
- 137.7x
- Cash
- $26.8M
- Debt
- $27.9M
- Debt to equity
- 0.60
- Shares outstanding
- 28.3M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $80.0M | -$844.0K | -$4.6M | -$0.17 | $10.2M | 10-K filed 19 Mar 2026 |
| FY2024 | 31 Dec 2024 | $39.0M | -$2.6M | -$3.8M | -$0.15 | $943.0K | 10-K filed 18 Mar 2025 |
| FY2023 | 31 Dec 2023 | $31.6M | -$1.2M | -$936.0K | -$0.04 | $6.8M | 10-K filed 14 Mar 2024 |
| FY2022 | 31 Dec 2022 | $21.3M | -$8.3M | -$9.0M | -$0.36 | $4.8M | 10-K filed 16 Mar 2023 |
| FY2021 | 31 Dec 2021 | $21.8M | -$1.5M | -$2.0M | -$0.08 | -$4.7M | 10-K filed 16 Mar 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $37.6M | $11.6M | $0.35 |
| Q1 FY2026 | 31 Mar 2026 | $24.3M | $1.6M | $0.05 |
| Q4 FY2025 | 31 Dec 2025 | $21.3M | $1.5M | $0.06 |
| Q3 FY2025 | 30 Sep 2025 | $22.5M | -$1.9M | -$0.07 |
| Q2 FY2025 | 30 Jun 2025 | $18.9M | -$2.6M | -$0.10 |
| Q1 FY2025 | 31 Mar 2025 | $17.3M | -$1.6M | -$0.06 |
| Q4 FY2024 | 31 Dec 2024 | $11.6M | -$598.0K | -$0.02 |
| Q3 FY2024 | 30 Sep 2024 | $10.3M | $627.0K | $0.02 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By product, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Product Sales and Royalties | $76.7M | 95.9% |
| License | $3.3M | 4.1% |
Company events
The newest 8-K filings of 153 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 14 Oct 2026 | 8-K | Deal completed, Material agreement | 1.01, 2.01, 9.01 |
| 28 Sep 2026 | 8-K | Other events | 8.01, 9.01 |
| 13 Aug 2026 | 8-K | Results | 2.02, 9.01 |
| 5 Aug 2026 | 8-K | Deal completed, Material agreement | 1.01, 2.01, 9.01 |
| 4 Aug 2026 | 8-K | Leadership change | 5.02 |
| 29 Jul 2026 | 8-K | Other events | 8.01, 9.01 |
| 9 Jun 2026 | 8-K | Shareholder vote | 5.07 |
| 19 May 2026 | 8-K | Deal completed, Material agreement | 1.01, 2.01, 9.01 |
| 14 May 2026 | 8-K | Results | 2.02, 9.01 |
| 1 May 2026 | 8-K | Other events | 8.01, 9.01 |
| 27 Apr 2026 | 8-K | Other events | 8.01, 9.01 |
| 16 Apr 2026 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
Every filing
The newest filings with the SEC of 235 held.
| Filed | Form | Period |
|---|---|---|
| 14 Oct 2026 | 8-K | 14 Oct 2026 |
| 28 Sep 2026 | 8-K | 28 Sep 2026 |
| 13 Aug 2026 | 10-Q | 30 Jun 2026 |
| 13 Aug 2026 | 8-K | 13 Aug 2026 |
| 5 Aug 2026 | 8-K | 31 Jul 2026 |
| 4 Aug 2026 | 8-K | 31 Jul 2026 |
| 29 Jul 2026 | 8-K | 29 Jul 2026 |
| 9 Jun 2026 | 8-K | 9 Jun 2026 |
| 19 May 2026 | 8-K | 18 May 2026 |
| 14 May 2026 | 10-Q | 31 Mar 2026 |
| 14 May 2026 | 8-K | 14 May 2026 |
| 1 May 2026 | 8-K | 1 May 2026 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 6 Oct 2026 | Krempa David, Chief Business Officer | Sale outside a trading plan | 4,166 | $55.07 | $229.4K | 43,381 | 6 Oct 2026 |
| 28 Aug 2026 | Maier Paul V, Director | Sale outside a trading plan | 36,387 | $58.64 | $2.1M | 73,358 | 28 Aug 2026 |
| 28 Aug 2026 | Maier Paul V, Director | Sale outside a trading plan | 13,485 | $60.21 | $811.9K | 59,873 | 28 Aug 2026 |
| 28 Aug 2026 | Maier Paul V, Director | Sale outside a trading plan | 128 | $61.77 | $7.9K | 59,745 | 28 Aug 2026 |
| 24 Aug 2026 | Krempa David, Chief Business Officer | Sale outside a trading plan | 25,000 | $65.07 | $1.6M | 37,025 | 24 Aug 2026 |
| 20 Aug 2026 | Brynjelsen Sean, President & CEO | Sale outside a trading plan | 47,307 | $60.17 | $2.8M | 1,004,909 | 20 Aug 2026 |
| 20 Aug 2026 | Brynjelsen Sean, President & CEO | Sale outside a trading plan | 36,373 | $61.11 | $2.2M | 968,536 | 20 Aug 2026 |
| 20 Aug 2026 | Brynjelsen Sean, President & CEO | Sale outside a trading plan | 7,342 | $62.12 | $456.1K | 961,194 | 20 Aug 2026 |
| 19 Aug 2026 | Brynjelsen Sean, President & CEO | Sale outside a trading plan | 8,978 | $62.65 | $562.5K | 1,052,216 | 20 Aug 2026 |
| 14 Jul 2026 | Opaleye Management Inc., 10% owner | Sale outside a trading plan | 15,000 | $37.54 | $563.1K | 2,665,000 | 16 Jul 2026 |
| 14 Jul 2026 | Opaleye Management Inc., 10% owner | Sale outside a trading plan | 13,315 | $37.54 | $499.9K | 40,000 | 16 Jul 2026 |
| 7 Jul 2026 | Opaleye Management Inc., 10% owner | Sale outside a trading plan | 20,000 | $38.37 | $767.5K | 2,680,000 | 7 Jul 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| Filed | Seller | Shares | Value | Planned sale |
|---|---|---|---|---|
| 6 Oct 2026 | Krempa David, Officer | 4,166 | $229.4K | 6 Oct 2026 |
| 28 Aug 2026 | MAIER PAUL V, Director | 50,000 | $3.0M | 28 Aug 2026 |
| 24 Aug 2026 | Krempa David, Officer | 25,000 | $1.6M | 24 Aug 2026 |
| 19 Aug 2026 | BRYNJELSEN SEAN, Director, 10% Stockholder | 100,000 | $6.3M | 19 Aug 2026 |
| 26 Jun 2026 | Gruber James R., Officer | 251,818 | $9.0M | 26 Jun 2026 |
| 25 Jun 2026 | Gruber James R., Officer | 25,000 | $875.3K | 25 Jun 2026 |
| 23 Jun 2026 | Gruber James R., Officer | 25,000 | $830.9K | 23 Jun 2026 |
| 17 Jun 2026 | Adams Jennifer McKie, Director | 50,000 | $1.6M | 17 Jun 2026 |
| 2 Jun 2026 | Gruber James R., Officer | 3,117 | $84.2K | 2 Jun 2026 |
| 28 May 2026 | BRYNJELSEN SEAN, Director | 120,000 | $3.9M | 28 May 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 28 Jul 2026 | BlackRock, Inc. | 13G amended | 6.9% | 1.9M |
| 26 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 30 Oct 2025 | The Vanguard Group | 13G | 5.01% | 1.3M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 1.9M | +5.96% | 3.3 |
| 30 Sep 2026 | 1.8M | +18.87% | 2.94 |
| 15 Sep 2026 | 1.5M | +14.47% | 3.52 |
| 31 Aug 2026 | 1.3M | -5.59% | 1.98 |
| 14 Aug 2026 | 1.4M | +8.71% | 2.24 |
| 31 Jul 2026 | 1.3M | +7.1% | 2.07 |
| 15 Jul 2026 | 1.2M | -15.4% | 3.03 |
| 30 Jun 2026 | 1.4M | +1.67% | 2.97 |
Funds that hold it
From each fund's latest Form 13F.
169 funds held it at 30 Jun 2026: 108 added and 34 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| Opaleye Management Inc. | 2,860,000 | $103.5M | 0 |
| Nantahala Capital Management, LLC | 2,351,902 | $85.1M | – |
| EcoR1 Capital, LLC | 2,171,938 | $78.6M | 0 |
| BlackRock, Inc. | 1,895,833 | $68.6M | +178,547 |
| Vanguard Capital Management LLC | 976,570 | $35.4M | -17,519 |
| Morgan Stanley | 767,972 | $27.8M | +290,015 |
| State Street Corp. | 701,786 | $25.4M | +171,571 |
| Geode Capital Management, LLC | 652,303 | $23.6M | +74,637 |
| Oberweis Asset Management Inc. | 501,600 | $18.2M | +62,300 |
| National Philanthropic Trust | 492,112 | $17.8M | 0 |
Peers
Companies in the same industry.
- Eli Lilly & Co. (LLY): revenue $86.5B, market value $1.29T
- Johnson & Johnson (JNJ): revenue $99.3B, market value $662.4B
- AbbVie Inc. (ABBV): revenue $64.4B, market value $513.9B
- Merck & Co., Inc. (MRK): revenue $66.6B, market value $361.0B
- Novartis AG (NVS): revenue $54.5B, market value $307.3B
- AstraZeneca PLC (AZN): revenue $58.7B, market value $270.6B
- Abbott Laboratories (ABT): revenue $46.6B, market value $180.9B
- Novo Nordisk A/S (NVO): revenue $46.8B, market value $174.8B
- Pfizer Inc. (PFE): revenue $63.7B, market value $170.7B
- Vertex Pharmaceuticals Inc. (VRTX): revenue $12.6B, market value $136.8B