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Companies / Health Care / Eton Pharmaceuticals, Inc.
ETON

Eton Pharmaceuticals, Inc.

Health CarePharmaceutical Preparations
Ticker ETONDEER PARK, ILFiscal year ends DecemberBook value per share $2.65Diluted shares 32.7M

Eton Pharmaceuticals, Inc. (Nasdaq: ETON) develops and commercializes treatments for rare diseases, including prescription drugs and medical formulas for patients with endocrine and metabolic conditions. Its eight commercial products include INCRELEX for severe primary IGF-1 deficiency, ALKINDI SPRINKLE and KHINDIVI… From the company’s description.

Over the twelve months to Sep 30, 2026, Eton Pharmaceuticals, Inc. reported revenue of $141.06M, up 100.6% from a year earlier, and net income of $49.86M. Its operating margin was 28.8%, and operations generated $38.35M in cash. In fiscal 2025, it reported revenue of $79.95M, up 104.9% from fiscal 2024, and a net loss of $4.60M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$79.95MFY2025
+104.9% year over year
Last 12 mo $141.06M
-1.06%FY2025
+5.6 percentage points
Last 12 mo 28.84%
$-4.60MFY2025
−20.4% year over year
Last 12 mo $49.86M
-17.59%FY2025
−1.9 percentage points
Last 12 mo 57.37%
Cash & financing
$10.52MFY2025
+986.1% year over year
Last 12 mo $38.35M
$10.19MFY2025
+980.7% year over year
Last 12 mo $38.22M
1.17FY2025
Was 1.22× a year earlier
Last 12 mo 0.27
—
Last 12 mo 32.7M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Eton Pharmaceuticals, Inc. does

In the company’s own words

Eton Pharmaceuticals, Inc. (Nasdaq: ETON) develops and commercializes treatments for rare diseases, including prescription drugs and medical formulas for patients with endocrine and metabolic conditions. Its eight commercial products include INCRELEX for severe primary IGF-1 deficiency, ALKINDI SPRINKLE and KHINDIVI for adrenal insufficiency, GALZIN for Wilson disease, PKU GOLIKE for phenylketonuria, and generic treatments for NAGS deficiency, homocystinuria and tyrosinemia type 1. The company also has five late-stage product candidates addressing conditions including diabetes insipidus, neonatal diabetes, Wilson disease, adrenal insufficiency and adrenal crisis. Eton sells its U.S. products through specialty pharmacies, supported by its own sales and marketing organization and patient services. It relies on contract manufacturers for production. At December 31, 2025, Eton had 44 full-time employees, including 24 in sales and marketing and 12 in research and development. Its portfolio combines products acquired or licensed from other companies with internally developed candidates. Its website is www.etonpharma.com.

Company details
Sector
Health Care
Industry (SIC)
Pharmaceutical Preparations
Headquarters
DEER PARK, IL
Fiscal year end
December
CIK
1710340
SIC
2834

Financial performance, year by year

Fiscal 2018–2025 · USD
$-44.87M$5.84M$56.55M$107.25M$157.96M20182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Eton Pharmaceuticals, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

112
funds hold it
1 of 35
superinvestors hold it
$138.54M
held by funds, at market
14.0%
of shares held by funds

Superinvestors in Eton Pharmaceuticals, Inc. · what they did last quarter

Polen CapitalINCREASED +50.6%
Polen Capital Management
<0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Eton Pharmaceuticals, Inc.’s weight in each

iShares Russell 2000 ETF
IWM · iShares Trust
0.03%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
Oberweis Micro-Cap Fund
OBMCX · OBERWEIS FUNDS
1.08%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.01%of fund net assets
0.06%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Eton Pharmaceuticals, Inc. and its peers compare on margins and cash generation over ten years?”
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