{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-26-032600","form_type":"8-K","ticker":"ETON","cik":"0001710340","company_name":"Eton Pharmaceuticals, Inc.","filed_at":"2026-10-14T11:15:22+00:00","discovered_at":"2026-10-14T11:20:00.467787+00:00","generated_at":"2026-10-14T11:20:05.430210+00:00","sec_items":["1.01","2.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Eton licenses LIBERVANT buccal film from Aquestive for $10M upfront, up to $47.5M milestones","bullets":["Eton paid Aquestive a $10.0M upfront license fee for exclusive U.S. rights to LIBERVANT (diazepam) buccal film for seizure clusters in epilepsy.","Milestones: $10.0M on first U.S. commercial sale (cut to $5.0M without full ages 2-5 approval), $2.5M on FDA approval for ages 6-11, up to $35M tied to annual net sales.","Eton pays mid-teens percentage royalties on U.S. net sales; Aquestive is exclusive manufacturer under a 20-year Supply Agreement.","Commercial launch anticipated April 2027 subject to final FDA approval; tentative approval covers ages 2-5 and 12+, with full 12+ approval expected after VALTOCO exclusivity ends Jan 10, 2027.","Cited U.S. seizure rescue market exceeds $450M annually; in a 101-patient survey, 71% preferred film vs 13% nasal spray; LIBERVANT holds Orphan Drug Designation (Nov 2016) and patents to 2038."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-26-032600","json":"https://secwatch.observer/filing/0001437749-26-032600.json","markdown":"https://secwatch.observer/filing/0001437749-26-032600.md","text":"https://secwatch.observer/filing/0001437749-26-032600.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1710340/000143774926032600/0001437749-26-032600-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1710340/000143774926032600/eton20261013_8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-14T11:20:05.430210+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}