---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-023439"
form_type: "8-K"
ticker: "ETON"
cik: "0001710340"
company_name: "Eton Pharmaceuticals, Inc."
filed_at: "2023-07-05T23:59:59+00:00"
generated_at: "2026-06-13T12:42:59.432575+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Eton terminates stalking horse bid for Vistogard, Xuriden; receives $800K break-up fee

## Summary
- Terminated Asset Purchase Agreement with Wellstat Debtors after losing bankruptcy auction on June 30, 2023.
- Stalking horse bidder for Vistogard and Xuriden; consideration was $34M–$37M.
- Received $800,000 break-up fee plus reimbursement of third-party expenses.
- Eton was not the successful bidder; no assets were acquired.

## SEC filing metadata
- accession: 0001493152-23-023439
- form_type: 8-K
- ticker: ETON
- cik: 0001710340
- company_name: Eton Pharmaceuticals, Inc.
- filed_at: 2023-07-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1710340/000149315223023439/0001493152-23-023439-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1710340/000149315223023439/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-023439
- JSON: https://secwatch.observer/filing/0001493152-23-023439.json
- Plain text: https://secwatch.observer/filing/0001493152-23-023439.txt

## Key facts
- Material Agreements
  Eton Pharmaceuticals, Inc. terminated Asset Purchase Agreement with Wellstat Therapeutics Corporation and Wellstat Biologics Corporation (collectively, the “Debtors”), Janet M. Nesse, as Bankruptcy Trustee for the bankruptcy estates of the Debtors, and certain other affiliates of the Debtors valued at $800,000 (effective 2023-06-30).
  - Action: termination
  - Agreement: asset purchase
  - Counterparty: Wellstat Therapeutics Corporation and Wellstat Biologics Corporation (collectively, the “Debtors”), Janet M. Nesse, as Bankruptcy Trustee for the bankruptcy estates of the Debtors, and certain other affiliates of the Debtors
  - Value: $800,000
  - Effective: 2023-06-30
  source text: (the “Company”) terminated its Asset Purchase Agreement with Wellstat Therapeutics Corporation and Wellstat Biologics Corporation (collectively, the “Debtors”), Janet M.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1710340/000149315223023439/0001493152-23-023439-index.htm

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