Eton Pharmaceuticals, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:21 pm EDT
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Eton Pharmaceuticals, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 12 million compared to USD 7.36 million a year ago. Net income was USD 4.56 million compared to net loss of USD 1.56 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to basic loss per share from continuing operations of USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to diluted loss per share from continuing operations of USD 0.06 a year ago.
For the six months, revenue was USD 17.3 million compared to USD 9.53 million a year ago. Net income was USD 1.9 million compared to net loss of USD 6.89 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 0.28 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 0.28 a year ago.
Eton Pharmaceuticals, Inc. is a pharmaceutical company. The Company is focused on developing and commercializing treatments for rare diseases. The Company has five commercial rare disease products: ALKINDI SPRINKLE, PKU GOLIKE, Carglumic Acid, Betaine Anhydrous, and Nitisinone. The Company has three additional product candidates in late-stage development: ET-400, ET-600, and ZENEO hydrocortisone autoinjector. ALKINDI SPRINKLE is a granule hydrocortisone formulation designed to help provide accurate dosing for newborns and children with adrenal insufficiency. PKU GOLIKE is a next generation medical formula product engineered with the patent protected, pharmaceutical grade Physiomimic technology for the dietary management of phenylketonuria (PKU) under medical supervision. Carglumic Acid is used for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate synthase (NAGS) deficiency. Betaine Anhydrous is developed for the treatment of homocystinuria.