Press release
Eton Pharmaceuticals Announces Third Quarter 2020 Financial Results
DEER PARK, Ill., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Eton Pharmaceuticals, Inc (Nasdaq: ETON), a specialty pharmaceutical company focused on developing and
About this update from Eton Pharmaceuticals, Inc.
[{"type":"text","content":"DEER PARK, Ill., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Eton Pharmaceuticals, Inc (Nasdaq: ETON), a specialty pharmaceutical company focused on developing and commercializing innovative treatments for rare pediatric diseases, today reported financial results for the third quarter ended September 30, 2020 and provided an update on business progress.\n “In recent weeks we submitted the last of our nine product candidates to the FDA. This is a tremendous accomplishment by our team after years of hard work. We are now turning our focus to building out a leading orphan drug commercial organization,” said Sean Brynjelsen, CEO of Eton Pharmaceuticals. “Early interest in ALKINDI SPRINKLE from physicians and caregivers has been very strong and has reiterated the significant need for the product.” Recent Business Milestones FDA approval of orphan product ALKINDI® SPRINKLE. In September, ALKINDI SPRINKLE was approved by the FDA as a replacement therapy for Adrenocortical Insufficiency in patients under 17 years of age. Eton expects to have the product commercially available by the end of November. FDA approval of Alaway Preservative Free®. During the quarter, Alaway Preservative Free was approved by the FDA. Bausch Health plans to launch the product by the Spring of 2021 and Eton will receive a royalty on sales of the product. Four additional NDAs submitted to the FDA. Eton, or its partners, have submitted four NDAs in the second half of 2020. Dehydrated alcohol injection, zonisamide oral suspension, and ephedrine injection have all been accepted for filing and assigned PDUFA dates of May 27, 2021; May 29, 2021; and June 18, 2021, respectively.Successful completion of equity financing. In October, Eton closed an oversubscribed common stock offering which resulted in gross proceeds of approximately $22.5 million. The proceeds are expected to be sufficient to allow Eton to launch its current pipeline products and reach profitability. ALKINDI SPRINKLE Eton anticipates having commercial availability of ALKINDI SPRINKLE by the end of November. The company’s ALKINDI SPRINKLE sales representatives have been hired, fully trained, and have begun engaging with pediatric endocrinologists. Initial interest from physicians, caregivers, and patients has been very strong and Eton expects the product to exceed the company’s original sales forecast for 2021. Bi...