Eton Pharmaceuticals, Inc. (ETON) stock plunged 5.48% in the after-market trading session at the price of $4.31 despite no fundamental reason. The last published news was its financial results for the third quarter ended 30th September 2021. ETON is an innovative pharmaceutical corporation that develops and commercializes therapies to treat rare conditions.   

ETON Third Quarter 2021 Financial Results 

On 15th November 2021, ETON announced its financial results for the three months ending 30th September 2021 and presented business updates. 

Management Comments  

Chief executive officer of ETON, Sean Brynjelsen, remarked that they had made considerable progress towards their business portfolios. They have acquired two more FDA-approved products, carglumic acid, and EPRONTIA. They are developing the commercial footprint of their ALKINDI SPRINKLE through a co-promotion agreement with Tolmar Pharmaceuticals. These events have placed them in an even stronger position to reach sustained profitability and deliver higher revenue by 2022.  

ETON Financial Highlights 

For the third quarter of 2021, ETON reported $0.8 million in revenue. There was no material revenue in the third quarter of 2020. The net loss was $6.1 million for the third quarter ended on 30th September 2021. For the same period of 2020, net loss totaled $6.5 million.

For the third quarter of 2021, the company calculated diluted earnings per share of ($0.24). Diluted earnings per share were ($0.31) for the third quarter ended 30th September 2020. As of 30th September 2021, cash and cash equivalents totaled $22.7 million. 

General and administrative expenses totaled $3.3 million for the three months ended on 30th September 2021. ETON reported G&A expenses of $3.4 million for the same three months of 2020. The lower costs resulted from raised spending from the launch of ALKINDI SPRINKLE in the prior-year quarter. The third quarter of 2021 included non-cash charges of $0.9 million.

For the third quarter of 2021, research and development expenses totaled $2.7 million. ETON reported R&D expenses of $2.8 million in the third quarter ended 30th September 2020. The higher R&D charges were related to the development of Rezipres and Biorphen. R&D costs during the third quarter of 2020 consist of $1.5 million in one-time NDA filing fee.