Core Insights - Eton Pharmaceuticals is participating in the 16th Annual Craig-Hallum Alpha Select Conference on November 18, 2025, in New York, where its executive leadership will host 1x1 meetings [1] Company Overview - Eton Pharmaceuticals focuses on developing and commercializing treatments for rare diseases, currently offering eight commercial products for rare diseases [3] - The company's commercial products include KHINDIVI™, INCRELEX, ALKINDI SPRINKLE, GALZIN, PKU GOLIKE, Carglumic Acid, Betaine Anhydrous, and Nitisinone [3] - Eton has five additional product candidates in late-stage development: ET-600, Amglidia, ET-700, ET-800, and ZENEO hydrocortisone autoinjector [3]

Core Insights - Eton Pharmaceuticals reported a quarterly loss of $0.07 per share, missing the Zacks Consensus Estimate of $0.13, and showing a significant decline from earnings of $0.02 per share a year ago, resulting in an earnings surprise of -153.85% [1] - The company achieved revenues of $22.46 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 9.24%, and marking a substantial increase from $10.32 million in the same quarter last year [2] - Eton Pharmaceuticals has consistently surpassed consensus revenue estimates over the last four quarters, although it has not met EPS estimates during the same period [2] Future Outlook - The immediate price movement of Eton Pharmaceuticals' stock will largely depend on management's commentary during the earnings call and future earnings expectations [3] - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $21.78 million, while for the current fiscal year, the estimate is $0.30 on revenues of $78.55 million [7] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future due to unfavorable estimate revisions prior to the earnings release [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Eton Pharmaceuticals belongs, is currently ranked in the top 41% of over 250 Zacks industries, suggesting a favorable environment for stocks within this sector [8] - The performance of Eton Pharmaceuticals may also be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Financial Data and Key Metrics Changes - Third quarter product revenue was $22.5 million, an increase of 129% year-over-year and up 19% compared to the second quarter, marking the 19th consecutive quarter of sequential product revenue growth [4][25] - Adjusted EBITDA for the third quarter was $2.9 million, compared to $2.0 million in the prior year period [29] - The company reported a net loss of $1.9 million for the quarter, compared to net income of $0.6 million in the prior year period [29] Business Line Data and Key Metrics Changes - Alkindi Sprinkle and Coagadex drove strong year-over-year growth, alongside contributions from recently acquired products Increlex and Galzin [4] - Increlex's revenue and patient count continue to exceed original projections, with a net active patient count remaining around 100 [6][8] - Galzin now has over 200 active patients, surpassing the original year-end target for 2025 [16] Market Data and Key Metrics Changes - The company experienced a less favorable payer mix in the third quarter, resulting in lower revenue per patient compared to the second quarter [26] - The company expects U.S. product sales to continue to grow sequentially in the fourth quarter compared to the third quarter, despite some non-recurring revenue from Increlex-related sales [26] Company Strategy and Development Direction - Eton is focused on expanding its product portfolio through strategic acquisitions, with $37 million in cash available for financing [23] - The company aims to harmonize the U.S. and EU definitions of severe primary IGF-1 deficiency to potentially increase the Increlex market opportunity fivefold [11] - Eton plans to launch ET-600, an oral solution for treating central diabetes insipidus, with a PDUFA date set for February 25, 2026 [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth opportunities for Increlex, Alkindi, and Kindivi, with expectations for continued strong revenue growth [24] - The company anticipates significant growth in 2026, driven by product launches and pipeline developments [24] Other Important Information - Adjusted gross profit was $10.2 million in the third quarter, representing an adjusted gross margin of 45%, impacted by Increlex ex-U.S.-related costs [27] - The company generated $12 million in cash from operations during the quarter [5][30] Q&A Session Summary Question: Can you provide pro-forma gross margins for the core U.S. business excluding non-recurring revenue? - Adjusted gross margins without Increlex ex-U.S. activity would be over 70% for the quarter [31] Question: What are the drivers behind the sequential revenue growth for Alkindi? - The focus of the sales force on pediatric endocrinology and increased physician comfort with the product are key drivers [32] Question: What is the status of the Increlex U.S. registry? - The registry will take place at U.S. sites, separate from those in the global registry [36] Question: What is the company's approach to business development opportunities? - The company is in late-stage discussions for two ultra-rare disease products and expects to close transactions soon [38] Question: What are the reasons for patient discontinuation on Increlex? - Discontinuation is primarily due to patients aging out, which is expected and normal [40]

Financial Performance - Total net revenues for the three months ended September 30, 2025, were $22,459,000, a 117.5% increase from $10,324,000 in the same period of 2024[12] - Product sales and royalties, net, reached $22,459,000 for the three months ended September 30, 2025, compared to $9,824,000 for the same period in 2024, reflecting a 128.5% increase[12] - Gross profit for the nine months ended September 30, 2025, was $29,640,000, up from $16,935,000 in the same period of 2024, representing a 75.0% increase[12] - For the nine months ended September 30, 2025, total revenues reached $58,669 with a gross profit of $29,640, compared to $27,364 and a gross profit of $16,935 in the same period of 2024, driven by increased sales of INCRELEX® and additional revenues from ALKINDI SPRINKLE® and GALZIN®[149] - Licensing revenue for the nine months ended September 30, 2025 was $3,286, a substantial increase from $500 in the same period of 2024, primarily due to $1,786 from out-licensing INCRELEX® rights outside the U.S.[150] - In the three months ended September 30, 2025, the Company reported total revenues of $22,459, generating a gross profit of $7,855, compared to total revenues of $10,324 and a gross profit of $6,302 in the same period of 2024, reflecting a significant increase in product sales and royalties[148] Cash and Assets - Cash and cash equivalents increased to $37,121,000 as of September 30, 2025, from $14,936,000 at the end of 2024, marking a 148.1% increase[10] - Total assets grew to $104,510,000 as of September 30, 2025, compared to $76,123,000 at the end of 2024, indicating a 37.3% increase[10] - As of September 30, 2025, the Company had total assets of $104.5 million, cash and cash equivalents of $37.1 million, and working capital of $27.8 million, indicating a solid liquidity position[153] Liabilities and Debt - Total liabilities increased to $81,384,000 as of September 30, 2025, from $51,695,000 at the end of 2024, representing a 57.4% increase[10] - The company’s existing debt obligations contain covenants that limit its ability to pay dividends or make distributions to stockholders[24] - The amended SWK Credit Agreement expanded the credit facility to $30,000, with a maturity date of December 17, 2027, and an annual interest rate of SOFR plus 6.75%[90] Research and Development - Research and development expenses for the nine months ended September 30, 2025, were $5,985,000, an increase from $4,126,000 in the same period of 2024, reflecting a 45.0% rise[12] - Research and Development expenses for the three months ended September 30, 2025 were $1,112, up from $505 in the same period of 2024, and for the nine months ended September 30, 2025, R&D expenses totaled $5,985 compared to $4,126 in 2024, largely due to a $2,155 NDA filing fee for ET-600[151] Stock and Compensation - Total stock-based compensation expense for the nine months ended September 30, 2025, was $4,388, up from $2,383 in the same period of 2024, indicating a 83.9% increase[102] - The Company recorded stock-based compensation related to RSUs of $611 for the nine months ended September 30, 2025, compared to $171 for the same period in 2024, reflecting a 257.3% increase[109] - The Company issued 108,451 shares of common stock from stock option exercises at a weighted average exercise price of $3.63 per share during the nine months ended September 30, 2025, with an intrinsic value of $1,167[108] Net Loss and Earnings - The company reported a net loss of $1,927,000 for the three months ended September 30, 2025, compared to a net income of $627,000 in the same period of 2024[12] - GAAP net loss for the three months ended September 30, 2025, was $(1,927) thousand, compared to a net income of $627 thousand for the same period in 2024[157] - Non-GAAP net income for the nine months ended September 30, 2025, was $5,418 thousand, compared to $197 thousand for the same period in 2024[157] Tax and Regulatory - The effective tax rate for the three months ended September 30, 2025, was 1.4%, compared to an effective tax rate of (25.1%) for the same period in 2024[117] - The Company has a full valuation allowance recorded on its net deferred tax assets, impacting its effective tax rate[119] Operational Highlights - The company has eight commercial rare disease products and five additional product candidates in late-stage development, indicating ongoing expansion in its product pipeline[23] - The Company entered into a licensing agreement with AMMTeK to acquire U.S. rights to Amglidia, with potential payments totaling up to $1,850, including a 14% royalty on net sales[138] - The Company acquired GALZIN® for $7,000 and INCRELEX® for $22,500, with additional payments for product inventory and royalties of 10% and $2,500 on anniversaries, respectively[139][140] Internal Controls and Compliance - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of September 30, 2025, despite a delinquent filing incident[183] - There have been no changes in internal controls over financial reporting that materially affected the company during the quarter ended September 30, 2025[184] - The company maintains disclosure controls designed to ensure timely decision-making and compliance with SEC rules[180]

Exhibit 99.1 Eton Pharmaceuticals Reports Third Quarter 2025 Financial Results DEER PARK, Ill., November 6, 2025 (GLOBE NEWSWIRE) -- Eton Pharmaceuticals, Inc ("Eton" or "the Company") (Nasdaq: ETON), an innovative pharmaceutical company focused on developing and commercializing treatments for rare diseases, today reported financial results for the quarter ended September 30, 2025. "The third quarter was another stellar period for Eton with product sales growing 129% year over year. The impressive results c ...

Core Insights - Eton Pharmaceuticals reported a strong third quarter in 2025, with product sales increasing by 129% year-over-year, reaching $22.5 million, marking the 19th consecutive quarter of sequential growth [2][5][14]. Financial Performance - The company achieved a net revenue of $22.5 million for Q3 2025, compared to $10.3 million in the same period last year, reflecting an increase of 118% [14]. - Gross profit for the quarter was $7.9 million, up from $6.3 million in the prior year, representing a 25% increase [17]. - Adjusted EBITDA for Q3 2025 was $2.9 million, compared to $2.0 million in the prior year [22]. - The net loss for the quarter was $1.9 million, or $0.07 per diluted share, compared to a net income of $0.6 million, or $0.02 per diluted share, in the prior year [22][23]. Product Performance - The relaunch of INCRELEX significantly contributed to revenue, being the largest revenue contributor in Q3 2025, with strong adoption and awareness efforts [6][9]. - ALKINDI SPRINKLE and Carglumic Acid also showed strong year-over-year growth, supported by a dedicated sales force [11]. - The company is preparing for the launch of ET-600, with its New Drug Application accepted by the FDA and a PDUFA date set for February 25, 2026 [3][13]. Strategic Initiatives - Eton is focusing on expanding the KHINDIVI label and has received positive feedback from the FDA regarding a revised formulation aimed at younger patients [12]. - The company is pursuing harmonization of SPIGFD definitions between the U.S. and EU to increase patient access [6][8]. - Eton's cash position as of September 30, 2025, was $37.1 million, with $12.0 million generated from operations during the quarter [24]. Market Position - Eton Pharmaceuticals is positioned as an innovative company in the rare disease treatment market, with a portfolio of eight commercial products and five additional candidates in late-stage development [28].

Core Insights - Eton Pharmaceuticals, Inc. (NASDAQ: ETON) has experienced significant stock performance over the past 52 weeks, achieving triple-digit gains, indicating strong market interest and investor confidence in the company [1]. Company Overview - Eton Pharmaceuticals is recognized as a focused innovator in the rare disease sector, highlighting its commitment to developing specialized treatments [1]. - The company has demonstrated rapid growth, suggesting effective business strategies and a strong pipeline of products [1]. Financial Performance - The article emphasizes the impressive stock performance of Eton Pharmaceuticals, which has seen substantial increases in value, reflecting positive investor sentiment and market dynamics [1].

Core Viewpoint - Eton Pharmaceuticals, Inc. will report its third quarter 2025 financial results on November 6, 2025, and will host a conference call to discuss these results [1]. Company Overview - Eton Pharmaceuticals is focused on developing and commercializing treatments for rare diseases, currently offering eight commercial products for rare diseases [3]. - The company's commercial products include KHINDIVI™, INCRELEX®, ALKINDI SPRINKLE®, GALZIN®, PKU GOLIKE®, Carglumic Acid, Betaine Anhydrous, and Nitisinone [3]. - Eton has five additional product candidates in late-stage development: ET-600, Amglidia®, ET-700, ET-800, and ZENEO® hydrocortisone autoinjector [3]. Investor Engagement - Management will take live questions during the conference call and will also answer emailed questions from investors [2]. - The live webcast of the conference call will be accessible on Eton's website, with an archived version available for 30 days after the event [2].

Company Overview - Eton Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing and commercializing innovative treatments for rare diseases, aiming to address unmet medical needs [1] Financial Performance - Eton's Return on Invested Capital (ROIC) is -1.26%, while its Weighted Average Cost of Capital (WACC) is 8.78%, resulting in a ROIC to WACC ratio of -0.14, which is better than its peers [2][5] - Comparatively, Aquestive Therapeutics has a ROIC of -69.51% and a WACC of 14.86%, leading to a ROIC to WACC ratio of -4.68 [3] - Fennec Pharmaceuticals has a ROIC of -27.37% and a WACC of 7.50%, resulting in a ratio of -3.65, making it the least inefficient among its peers [3] - Eyenovia's ROIC is -82.43% against a WACC of 15.56%, resulting in a ROIC to WACC ratio of -5.30 [4] - Verrica Pharmaceuticals shows a ROIC of -166.93% and a WACC of 17.86%, with a ratio of -9.34 [4] - Evelo Biosciences has the lowest efficiency, with a ROIC of -201.37% and a WACC of 9.04%, leading to a ratio of -22.28 [4] Comparative Analysis - Overall, while Eton Pharmaceuticals is not yet generating returns above its cost of capital, its performance indicates potential for improvement in financial efficiency compared to other companies in the sector [5]

Group 1 - Eton Pharmaceuticals, Inc is an innovative pharmaceutical company focused on developing and commercializing treatments for rare diseases [3] - The company currently has eight commercial rare disease products, including KHINDIVI™, INCRELEX, and Nitisinone [3] - Eton has five additional product candidates in late-stage development, such as ET-600 and ZENEO hydrocortisone autoinjector [3] Group 2 - Eton's executive leadership team will host 1x1 meetings at the 2025 Wells Fargo Healthcare Conference from September 3-5, 2025 in Boston, MA [1] - Interested parties can schedule a meeting by contacting their Wells Fargo institutional sales representative [2]