Eton Pharmaceuticals — Third Quarter 2026 Earnings Summary

Eton Pharmaceuticals reported third-quarter 2026 net revenue of $57.9 million, representing a 158% year-over-year increase driven by sales of HEMANGEOL and growth across its existing product portfolio. The company achieved a record adjusted EBITDA margin of 49% and raised its full-year 2026 revenue guidance to more than $175 million, surpassing its $200 million annualized revenue run rate goal five quarters ahead of schedule. Management highlighted significant pipeline advancements, including the initiation of the ET-900 program for infantile and epileptic spasms and the acceptance of a label expansion submission for KHINDIVI. Additionally, the company announced the licensing of LIBERVANT for neurology and the acquisition of ASN-001 rights to expand its infantile hemangioma franchise.