Financial Performance - Eton reported record net sales of 11.6millioninQ42024,a597.3 million in Q4 2023, marking the 16th consecutive quarter of sequential product sales growth [4]. - Eton's gross profit for Q4 2024 was 6.5million,upfrom3.6 million in Q4 2023, primarily due to increased product sales [13]. - The company reported a net loss of 598thousandforthethreemonthsendedDecember31,2024,animprovementcomparedtoanetlossof2,256 thousand for the same period in 2023 [28]. - The company generated net cash from operating activities of (765)thousandforthethreemonthsendedDecember31,2024,comparedto387 thousand in the same period of 2023 [28]. - Cash flows from investing activities totaled (38,132)thousandforthethreemonthsendedDecember31,2024,comparedto(775) thousand in the same period of 2023 [28]. Expenses - Research and Development (R&D) expenses for Q4 2024 were (0.9)million,adecreasefrom1.0 million in the prior year, influenced by a refund of the NDA filing fee for ET-400 [14]. - General and Administrative (G&A) expenses rose to 6.7millioninQ42024from4.6 million in the prior year, driven by personnel additions and increased marketing investments [15]. Acquisitions and New Products - The company successfully closed the acquisition of Increlex and Galzin, contributing less than 0.2millioninrevenueforthequarter,withIncrelexalreadyaddingnewpatientsatapaceaheadofexpectations[2][12].−EtonispreparingforthepotentiallaunchofET−400,withlaunchinventorymanufacturedandreadyforapossibleapprovalonitsPDUFAgoaldateofMay28,2025[6].−ThecompanyannouncedpositivepivotalstudyresultsforET−600andplanstosubmitanNDAinApril2025,whichcouldleadtoapprovalinQ12026[8].−Etonhastwonewinternaldevelopmentprograms,ET−700andET−800,whichwillbedetailedintheupcomingInvestorDayconferencecall[10].FinancialPosition−AsofDecember31,2024,Etonhadcashandcashequivalentsof14.9 million, providing a solid financial position for future growth initiatives [17]. - Total assets increased significantly to 76,123millionin2024from31,740 million in 2023, representing a growth of 139% [26]. - Current assets rose to 41,021millionin2024,upfrom26,839 million in 2023, marking a 53% increase [26]. - Total liabilities surged to 51,695millionin2024,comparedto16,263 million in 2023, indicating a 218% increase [26]. - Stockholders' equity increased to 24,428millionin2024from15,477 million in 2023, reflecting a growth of 58% [26]. - The company raised 25,309thousandfromtheissuanceoflong−termdebtduringtheyear[28].−Theacquisitionofabusinesscostthecompany30,000 thousand, impacting cash flows from investing activities significantly [28]. Future Outlook - The company expects sequential growth in quarterly product revenue to continue through 2025 and beyond, driven by the relaunch of Increlex and Galzin [4].
