---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-017799"
form_type: "8-K"
ticker: "ETON"
cik: "0001710340"
company_name: "Eton Pharmaceuticals, Inc."
filed_at: "2026-05-19T20:45:23+00:00"
generated_at: "2026-05-19T20:48:46.526689+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Eton Pharmaceuticals secures U.S. commercialization rights to IMPAVIDO® for $4.25M fixed fees

## Summary
- Eton will pay $4.25M in fixed fees ($125k Jul 2026, then $1.25M Apr 2027, etc.) plus up to $4M in milestone payments based on cumulative net sales.
- Royalty rates: 55% of net sales up to $7M/year, 50% above $7M/year; Supplier covers product costs and regulatory, Eton covers sales and marketing.
- Exclusive U.S. commercialization rights start September 26, 2026; IMPAVIDO® had 2025 U.S. sales of $8.1M (Symphony Health).
- IMPAVIDO® is the first FDA-approved oral therapy for leishmaniasis (visceral, cutaneous, mucosal), a rare parasitic disease.
- This expands Eton's rare disease portfolio to eleven commercial products (including ten prior).

## SEC filing metadata
- accession: 0001437749-26-017799
- form_type: 8-K
- ticker: ETON
- cik: 0001710340
- company_name: Eton Pharmaceuticals, Inc.
- filed_at: 2026-05-19T20:45:23+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1710340/000143774926017799/0001437749-26-017799-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1710340/000143774926017799/eton20260518_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-017799
- JSON: https://secwatch.observer/filing/0001437749-26-017799.json
- Plain text: https://secwatch.observer/filing/0001437749-26-017799.txt

## Key facts
- Material Agreements
  Eton Pharmaceuticals, Inc. entered into Supply and Distribution Agreement for IMPAVIDO® with affiliate of Knight Therapeutics, Inc. valued at $4.25 million fixed fees plus up to $4.0 million sales milestones and 55%/50% net sales share (effective 2026-05-18).
  - Action: entry
  - Agreement: supply
  - Counterparty: affiliate of Knight Therapeutics, Inc.
  - Value: $4.25 million fixed fees plus up to $4.0 million sales milestones and 55%/50% net sales share
  - Effective: 2026-05-18
  source text: On May 18, 2026, Eton Pharmaceuticals, Inc. (“Eton” or the “Company”) entered into a supply and distribution agreement for the United States commercialization rights to IMPAVIDO® (miltefosine) oral capsules with an affiliate of Knight Therapeutics, Inc. (“Supplier”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1710340/000143774926017799/0001437749-26-017799-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.