Eton Pharma Q2 net income $4.6M, product sales +175% YoY; full-year revenue guidance raised to ~$30M

Eton Pharmaceuticals, Inc.

2023-Q2 EPS reported $0.07 revenue$17,301,000

Net income of $4.6M ($0.18 per share) vs net loss of $1.6M a year ago.
Product sales and royalty revenue of $6.5M, up 175% YoY and 22% sequentially; 10th straight quarter of growth.
Total Q2 revenue of $12.0M, including $5.5M from sale of neurology royalty interests.
Raised full-year revenue guidance to approximately $30M; launched Betaine Anhydrous in May.
ET-400 NDA submission on track for Q4 2023; cash $21.6M at quarter-end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Eton Pharmaceuticals, Inc. reported full year 2023 results: revenue approximately $30 million in total revenue this year. Guidance raised.

Period: full year 2023
Revenue: approximately $30 million in total revenue this year
Guidance: raised
Result: guidance update

Exact text from the filing

Given our strong performance through the first half of the year, we have increased our revenue expectation and now anticipate reaching approximately $30 million in total revenue this year," said Sean Brynjelsen, CEO of Eton Pharmaceuticals.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Eton Pharmaceuticals, Inc. reported second quarter ended June 30, 2023 results: revenue $12.0 million, net income $4.6 million, EPS $0.18 per basic and diluted share.

Period: second quarter ended June 30, 2023
Revenue: $12.0 million
Net income: $4.6 million
EPS: $0.18 per basic and diluted share
Result: reported results

Exact text from the filing

Net Revenue: Net sales for the second quarter of 2023 were $12.0 million compared with $7.4 million in the prior year period. Net sales included $5.5 million of licensing payments received during the quarter related to the sale of Eton’s neurology product royalties and milestones to Azurity Pharmaceuticals, compared to $5.0 million of licensing revenue in the prior year period related to the sale of multiple hospital products to Dr. Reddy’s. Product sales and royalty revenue were $6.5 million for the second quarter of 2023 compared with $2.4 million in the prior year period, an increase of 175% over the prior year period and 22% over the first quarter of 2023. The year-over-year increase in product sales and royalty revenue was primarily driven by growth in ALKINDI SPRINKLE and Carglumic Acid tablets. Gross Profit : Gross profit for the second quarter of 2023 was $9.7 million compared with $4.6 million in the prior year period. The growth was driven by the sale of the Company’s neurolo

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Source: SEC EDGAR

accession 0001493152-23-027549

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