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Eton Pharmaceuticals Inc. (ETON+3.29%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net revenues of $39.0 million for 2024, an increase from $31.6 million in 2023. This growth was primarily driven by higher product sales for ALKINDI SPRINKLE® and Carglumic Acid.
Eton reported a gross profit of $23.4 million in 2024, up from $21.1 million in 2023, reflecting increased sales volumes.
Research and development expenses remained consistent at $3.3 million for both 2024 and 2023, while general and administrative expenses rose to $22.8 million from $18.9 million, attributed to personnel additions and marketing expenditures.
The company incurred a net loss of $3.8 million for the year ended December 31, 2024, compared to a net loss of $0.9 million in 2023.
Eton completed a business acquisition of INCRELEX® from Ipsen S.A. in December 2024 for $30 million, which was accounted for as a business combination.
The company expanded its credit facility with SWK Holdings Corporation to $30 million, extending the maturity to December 2027 and reducing the interest rate.
Eton's liquidity position includes cash and cash equivalents of $14.9 million as of December 31, 2024, with working capital of $21.1 million.
Eton's management reports that existing cash, cash equivalents, and expected revenues will be sufficient to fund operations for at least the next twelve months.
The company's stock-based compensation expenses totaled $3.2 million in 2024, with a focus on employee stock options and restricted stock units.
Eton's board of directors and stockholders approved an increase in the share reserve for the 2018 Equity Incentive Plan by 1,027,522 shares, effective January 1, 2024.
The company continues to focus on developing and commercializing treatments for rare diseases, with seven commercial products and six additional candidates in late-stage development.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Eton Pharmaceuticals Inc. annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.