Eton Q2 2022 Earnings Report
Key Takeaways
Eton Pharmaceuticals reported a net sales increase to $7.4 million, driven by licensing payments and growth in ALKINDI SPRINKLE and Carglumic Acid tablets. The company is now focused on its rare disease strategy following the hospital products divestiture.
Net sales for the second quarter of 2022 were $7.4 million, compared to $3.1 million in the prior year period.
Product sales and royalty revenue were $2.4 million for the second quarter of 2022, compared to $0.6 million for the second quarter of 2021.
Gross profit for the second quarter of 2022 was $4.6 million, compared to $2.9 million in the prior year period.
Net loss for the second quarter of 2022 was $1.6 million, or $0.06 per basic and diluted share, compared to a loss of $2.0 million, or $0.08 per basic and diluted share in the prior year period.
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Eton Revenue by Segment
Forward Guidance
Eton Pharmaceuticals is progressing its R&D pipeline to support additional new product launches in coming years, including resubmitting the application for dehydrated alcohol injection and progressing development of ZENEOĀ® hydrocortisone autoinjector.
Positive Outlook
- Resubmission of the application for dehydrated alcohol injection expected later this year, potentially allowing for approval and launch in 2023.
- Continued progress in the development of ZENEOĀ® hydrocortisone autoinjector, with potential filing with the FDA in 2023.
- Initiation of development for two additional high-value rare disease products.
- Potential receipt of an additional $5.0 million milestone payment upon the launch of the recently approved Zonisadeā¢ product.
- Focus on rare disease strategy following the divestiture of hospital products.