Eton Pharmaceuticals, Inc(NASDAQ:ETON) 
Eton Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products for rare diseases. The company offers Biorphen, a phenylephrine injection for the treatment of clinically important hypotension resulting primarily from vasodilation in t...
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues: | |||||||||||||||||||||||||||||||
licensing revenue | 3,286,000 | 500,000 | 5,500,000 | 5,000,000 | 5,000,000 | 5,000,000 | 2,500,000 | 11,500,000 | |||||||||||||||||||||||
product sales and royalties | 24,266,000 | 21,281,000 | 22,459,000 | 18,928,000 | 13,996,000 | 11,647,000 | 9,824,000 | 9,074,000 | 7,966,000 | 7,313,000 | 7,028,000 | 6,497,000 | 5,304,000 | 3,498,000 | 3,219,000 | 2,358,000 | 2,176,000 | 1,093,000 | 775,000 | 567,000 | 397,000 | ||||||||||
total net revenues | 24,266,000 | 21,281,000 | 22,459,000 | 18,928,000 | 17,282,000 | 11,647,000 | 10,324,000 | 9,074,000 | 7,966,000 | 7,313,000 | 7,028,000 | 11,997,000 | 5,304,000 | 8,498,000 | 3,219,000 | 7,358,000 | 2,176,000 | 6,093,000 | 775,000 | 3,067,000 | 11,897,000 | ||||||||||
cost of sales: | |||||||||||||||||||||||||||||||
total cost of sales | 9,531,000 | 8,181,000 | 14,604,000 | 7,004,000 | 7,421,000 | 5,171,000 | 4,022,000 | 3,448,000 | 2,959,000 | 3,683,000 | 2,625,000 | 2,315,000 | 1,958,000 | 2,138,000 | 1,201,000 | 2,745,000 | 718,000 | 280,000 | 617,000 | 136,000 | 1,590,000 | ||||||||||
gross profit | 14,735,000 | 13,100,000 | 7,855,000 | 11,924,000 | 9,861,000 | 6,476,000 | 6,302,000 | 5,626,000 | 5,007,000 | 3,630,000 | 4,403,000 | 9,682,000 | 3,346,000 | 6,360,000 | 2,018,000 | 4,613,000 | 1,458,000 | 5,813,000 | 158,000 | 2,931,000 | 10,307,000 | -219,000 | -17,000 | -8,000 | -3,000 | ||||||
yoy | 49.43% | 102.29% | 24.64% | 111.94% | 96.94% | 78.40% | 43.13% | -41.89% | 49.64% | -42.92% | 118.19% | 109.89% | 129.49% | 9.41% | 1177.22% | 57.39% | -85.85% | -2754.34% | -1029.41% | -36737.50% | -343666.67% | ||||||||||
qoq | 12.48% | 66.77% | -34.12% | 20.92% | 52.27% | 2.76% | 12.02% | 12.36% | 37.93% | -17.56% | -54.52% | 189.36% | -47.39% | 215.16% | -56.25% | 216.39% | -74.92% | 3579.11% | -94.61% | -71.56% | -4806.39% | 1188.24% | 112.50% | 166.67% | |||||||
gross margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 2085.71% | 10.56% | -40.00% | -3.03% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% |
operating expenses: | |||||||||||||||||||||||||||||||
research and development | 1,875,000 | 1,780,000 | 1,112,000 | 3,712,000 | 1,161,000 | -871,000 | 505,000 | 2,970,000 | 651,000 | 1,047,000 | 615,000 | 1,125,000 | 535,000 | 944,000 | 744,000 | 690,000 | 1,618,000 | 681,000 | 2,678,000 | 1,990,000 | 886,000 | 3,401,000 | 2,826,000 | 1,609,000 | 6,268,000 | 233,000 | 3,418,000 | 1,439,000 | 6,465,000 | 1,102,000 | 1,544,000 |
general and administrative | 10,446,000 | 8,856,000 | 8,106,000 | 9,687,000 | 9,170,000 | 6,718,000 | 5,288,000 | 5,591,000 | 5,156,000 | 4,576,000 | 4,336,000 | 4,674,000 | 5,345,000 | 4,354,000 | 4,169,000 | 5,263,000 | 4,927,000 | 3,818,000 | 3,327,000 | 3,266,000 | 4,058,000 | 3,800,000 | 3,429,000 | 2,921,000 | 2,610,000 | 2,429,000 | 1,624,000 | 1,910,000 | 1,589,000 | 1,184,000 | 830,000 |
total operating expenses | 12,321,000 | 10,636,000 | 9,218,000 | 13,399,000 | 10,331,000 | 5,847,000 | 5,793,000 | 8,561,000 | 5,807,000 | 5,623,000 | 4,951,000 | 5,799,000 | 5,880,000 | 5,298,000 | 4,913,000 | 5,953,000 | 6,545,000 | 4,499,000 | 6,005,000 | 5,256,000 | 4,944,000 | 7,201,000 | 6,255,000 | 4,530,000 | 8,878,000 | 2,662,000 | 5,042,000 | 3,349,000 | 8,054,000 | 2,286,000 | 2,374,000 |
income from operations | 2,414,000 | 2,464,000 | -1,363,000 | -1,475,000 | -470,000 | 629,000 | 509,000 | -2,935,000 | -800,000 | -1,993,000 | -548,000 | 3,883,000 | -2,534,000 | 1,062,000 | -2,895,000 | -1,340,000 | -5,087,000 | 1,314,000 | -5,847,000 | -2,325,000 | 5,363,000 | -7,420,000 | -6,272,000 | -4,538,000 | -8,881,000 | -2,656,000 | -5,042,000 | -3,349,000 | -7,554,000 | -2,286,000 | -2,374,000 |
yoy | -613.62% | 291.73% | -367.78% | -49.74% | -41.25% | -131.56% | -192.88% | -175.59% | -68.43% | -287.66% | -81.07% | -389.78% | -50.19% | -19.18% | -50.49% | -42.37% | -194.85% | -117.71% | -6.78% | -48.77% | -160.39% | 179.37% | 24.40% | 35.50% | 17.57% | 16.19% | 112.38% | ||||
qoq | -2.03% | -280.78% | -7.59% | 213.83% | -174.72% | 23.58% | -117.34% | 266.88% | -59.86% | 263.69% | -114.11% | -253.24% | -338.61% | -136.68% | 116.04% | -73.66% | -487.14% | -122.47% | 151.48% | -143.35% | -172.28% | 18.30% | 38.21% | -48.90% | 234.38% | -47.32% | 50.55% | -55.67% | 230.45% | -3.71% | |
operating margin % | Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | Infinity% | 70666.67% | 3895.65% | -22690.00% | -8970.71% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% |
other expense: | |||||||||||||||||||||||||||||||
interest and other expense | -840,000 | -666,000 | -592,000 | -1,044,000 | -1,028,000 | -70,250 | -31,000 | -124,000 | -126,000 | -152,750 | -150,000 | -218,000 | -243,000 | -247,000 | |||||||||||||||||
income before income tax expense | 1,574,000 | -1,493,000 | -1,955,000 | -824,250 | 501,000 | -2,987,000 | 330,000 | -579,000 | 4,559,000 | -2,660,000 | -2,483,250 | -3,045,000 | -1,558,000 | -5,330,000 | -2,016,000 | 5,116,000 | |||||||||||||||
income tax expense | 20,000 | -69,000 | -28,000 | 66,000 | 74,000 | 87,000 | -126,000 | 54,000 | |||||||||||||||||||||||
net income | 1,554,000 | 1,483,000 | -1,927,000 | -2,585,000 | -1,572,000 | -598,000 | 627,000 | -3,041,000 | -811,000 | -2,256,000 | -579,000 | 4,559,000 | -2,660,000 | 912,000 | -3,045,000 | -1,558,000 | -5,330,000 | 1,039,000 | -6,094,000 | -2,016,000 | 5,116,000 | -7,687,000 | -6,504,000 | -4,730,000 | -9,049,000 | -2,696,000 | -4,965,000 | -3,249,000 | -7,410,000 | -3,730,000 | -2,910,000 |
yoy | -198.85% | -347.99% | -407.34% | -15.00% | 93.83% | -73.49% | -208.29% | -166.70% | -69.51% | -347.37% | -80.99% | -392.62% | -50.09% | -12.22% | -50.03% | -22.72% | -204.18% | -113.52% | -6.30% | -57.38% | -156.54% | 185.13% | 31.00% | 45.58% | 22.12% | -27.72% | 70.62% | ||||
qoq | 4.79% | -176.96% | -25.45% | 64.44% | 162.88% | -195.37% | -120.62% | 274.97% | -64.05% | 289.64% | -112.70% | -271.39% | -391.67% | -129.95% | 95.44% | -70.77% | -612.99% | -117.05% | 202.28% | -139.41% | -166.55% | 18.19% | 37.51% | -47.73% | 235.65% | -45.70% | 52.82% | -56.15% | 98.66% | 28.18% | |
net income margin % | Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | Infinity% | 73209.52% | 4039.75% | -23650.00% | -9140.40% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% |
net income per share | 0.06 | 0.06 | -0.07 | -0.1 | -0.06 | -0.03 | 0.02 | -0.12 | -0.03 | -0.09 | -0.02 | 0.18 | -0.1 | 0.04 | -0.12 | -0.06 | -0.21 | 0.04 | -0.24 | -0.08 | 0.21 | -0.32 | -0.31 | -0.23 | -0.5 | -0.15 | -0.28 | -0.18 | -0.42 | -3.4 | -0.65 |
weighted-average number of common shares outstanding, basic | 27,285 | 26,893 | 25,900 | 25,778 | 25,763 | 25,719 | 25,593 | 25,365 | 25,126 | 25,301 | 25,211 | 24,453 | |||||||||||||||||||
weighted-average number of common shares outstanding, diluted | 31,547 | 26,893 | 26,550 | 25,778 | 25,763 | 25,719 | 25,983 | 25,365 | 25,126 | 25,301 | 25,211 | 26,547 | |||||||||||||||||||
loss before income tax expense | -2,519,000 | -1,498,000 | -811,000 | 1,039,000 | -6,094,000 | -7,687,000 | -6,504,000 | -4,730,000 | -9,049,000 | -2,696,000 | -4,965,000 | -3,249,000 | -7,410,000 | -3,730,000 | -2,910,000 | ||||||||||||||||
weighted-average number of common shares outstanding, basic and diluted | 26,908 | 26,893 | 26,886 | 25,895 | 25,645 | 25,525 | 25,146 | 25,276 | 21,010 | 21,052 | 21,005 | 18,143 | 17,761 | 17,878 | 17,733 | 6,418 | 5,615 | ||||||||||||||
other income: | |||||||||||||||||||||||||||||||
other income | 200,000 | 800,000 | |||||||||||||||||||||||||||||
interest expense | -17,750 | -8,000 | -52,000 | -11,000 | |||||||||||||||||||||||||||
total other income | -17,750 | -8,000 | -52,000 | -11,000 | 129,750 | -31,000 | 676,000 | ||||||||||||||||||||||||
gain on ppp loan forgiveness | |||||||||||||||||||||||||||||||
gain on equipment sale | 181,000 | ||||||||||||||||||||||||||||||
cost of sales | |||||||||||||||||||||||||||||||
interest and other income | -275,000 | -247,000 | -267,000 | -232,000 | -192,000 | -168,000 | -40,000 | 77,000 | 100,000 | 144,000 | 82,000 | 25,000 | |||||||||||||||||||
gain on ppp loan forgiven | 91,250 | 365,000 | |||||||||||||||||||||||||||||
interest and other (expense) income | -237,000 | ||||||||||||||||||||||||||||||
product sales | 81,000 | -161,000 | 20,000 | 99,000 | |||||||||||||||||||||||||||
total revenues | -10,500 | -161,000 | 20,000 | 99,000 | |||||||||||||||||||||||||||
yoy | |||||||||||||||||||||||||||||||
qoq | -93.48% | -905.00% | -79.80% | ||||||||||||||||||||||||||||
cost of product sales | 300,000 | -144,000 | 28,000 | 102,000 | |||||||||||||||||||||||||||
revenues | 500,000 | ||||||||||||||||||||||||||||||
revenue | 125,000 | ||||||||||||||||||||||||||||||
change in fair value of warrant liability | -1,526,000 | -561,000 | |||||||||||||||||||||||||||||
accrued dividends on redeemable convertible preferred stock | -148,000 | -300,000 | |||||||||||||||||||||||||||||
deemed dividends for accretion of redeemable convertible preferred stock issuance costs | -437,000 | -429,000 | |||||||||||||||||||||||||||||
net loss attributable to common stockholders | -2,696,000 | -4,965,000 | -3,249,000 | -7,410,000 | -26,062,000 | -3,639,000 | |||||||||||||||||||||||||
weighted average number of common shares outstanding, basic and diluted | 25,207 | 17,502 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||
cash and cash equivalents | 19,661,000 | 25,942,000 | 37,121,000 | 25,379,000 | 17,420,000 | 14,936,000 | 20,261,000 | 17,694,000 | 16,655,000 | 21,388,000 | 22,070,000 | 21,566,000 | 14,708,000 | 16,305,000 | 13,378,000 | 17,046,000 | 15,229,000 | 14,406,000 | 22,709,000 | 25,802,000 | 7,332,000 | 10,270,000 | 12,335,000 | 11,777,000 | 14,947,000 | 19,584,000 |
accounts receivable | 13,408,000 | 11,757,000 | 13,082,000 | 14,453,000 | 16,400,000 | 5,361,000 | 5,591,000 | 4,873,000 | 4,240,000 | 3,411,000 | 3,495,000 | 3,084,000 | 2,874,000 | 1,852,000 | 1,498,000 | 834,000 | 796,000 | 5,471,000 | 385,000 | 303,000 | 205,000 | |||||
inventories | 14,467,000 | 15,419,000 | 16,855,000 | 23,791,000 | 13,621,000 | 15,232,000 | 1,938,000 | 2,068,000 | 2,318,000 | 911,000 | 1,051,000 | 816,000 | 437,000 | 557,000 | 481,000 | 531,000 | 510,000 | 550,000 | 334,000 | 1,242,000 | ||||||
prepaid expenses and other current assets | 5,709,000 | 7,463,000 | 4,942,000 | 4,820,000 | 2,519,000 | 5,492,000 | 1,959,000 | 799,000 | 1,050,000 | 1,129,000 | 541,000 | 867,000 | 1,099,000 | 1,290,000 | 1,063,000 | 1,365,000 | 2,216,000 | 3,177,000 | 2,435,000 | 1,728,000 | 754,000 | 844,000 | 1,075,000 | 330,000 | 1,943,000 | |
total current assets | 53,245,000 | 60,581,000 | 72,000,000 | 68,443,000 | 49,960,000 | 41,021,000 | 29,749,000 | 25,434,000 | 24,263,000 | 26,839,000 | 27,157,000 | 26,333,000 | 19,118,000 | 20,004,000 | 16,420,000 | 19,776,000 | 18,751,000 | 23,604,000 | 25,863,000 | 29,075,000 | 9,785,000 | 12,823,000 | 15,341,000 | 12,107,000 | 16,755,000 | 21,527,000 |
property and equipment | 372,000 | 326,000 | 294,000 | 18,000 | 22,000 | 34,000 | 33,000 | 45,000 | 57,000 | 58,000 | 38,000 | 46,000 | 56,000 | 72,000 | 73,000 | 87,000 | 109,000 | 115,000 | 134,000 | 156,000 | 854,000 | 938,000 | 1,025,000 | 1,169,000 | 1,223,000 | 1,190,000 |
intangible assets | 43,738,000 | 30,878,000 | 31,878,000 | 32,879,000 | 33,880,000 | 34,881,000 | 5,854,000 | 6,122,000 | 6,388,000 | 4,739,000 | 4,210,000 | 4,392,000 | 4,573,000 | 4,754,000 | 4,973,000 | 3,108,000 | 4,240,000 | 3,621,000 | 463,000 | 500,000 | 612,000 | 650,000 | 688,000 | |||
operating lease right-of-use assets | 301,000 | 310,000 | 319,000 | 324,000 | 158,000 | 175,000 | 193,000 | 210,000 | 74,000 | 92,000 | 109,000 | 149,000 | 169,000 | 188,000 | 42,000 | 63,000 | 84,000 | 104,000 | 123,000 | 143,000 | 63,000 | 96,000 | 129,000 | 191,000 | 222,000 | 252,000 |
other long-term assets | 54,000 | 19,000 | 19,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 21,000 | 23,000 | 32,000 | 81,000 | 52,000 | 58,000 | 40,000 | 44,000 | 48,000 |
total assets | 97,710,000 | 92,114,000 | 104,510,000 | 101,676,000 | 84,032,000 | 76,123,000 | 35,841,000 | 31,823,000 | 30,794,000 | 31,740,000 | 31,526,000 | 30,932,000 | 23,928,000 | 25,030,000 | 21,520,000 | 23,046,000 | 23,196,000 | 27,465,000 | 26,606,000 | 29,906,000 | 11,395,000 | 14,559,000 | 17,241,000 | 13,507,000 | 18,244,000 | 23,017,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||
accounts payable | 13,485,000 | 10,976,000 | 14,259,000 | 12,142,000 | 4,872,000 | 4,167,000 | 2,684,000 | 2,133,000 | 2,263,000 | 1,848,000 | 1,712,000 | 2,300,000 | 1,233,000 | 1,766,000 | 1,054,000 | 1,299,000 | 2,131,000 | 1,774,000 | 3,273,000 | 1,522,000 | 2,208,000 | 1,953,000 | 1,183,000 | 549,000 | 883,000 | 3,208,000 |
short-term debt, net of debt discount | 11,808,000 | |||||||||||||||||||||||||
accrued medicaid rebates | 11,140,000 | 9,317,000 | 18,031,000 | 16,226,000 | 12,937,000 | 6,866,000 | 8,047,000 | |||||||||||||||||||
accrued liabilities | 7,746,000 | 9,408,000 | 9,117,000 | 7,459,000 | 7,541,000 | 8,914,000 | 11,425,000 | 8,017,000 | 9,013,000 | 7,141,000 | 5,748,000 | 4,922,000 | 3,662,000 | 2,899,000 | 2,149,000 | 1,351,000 | 1,366,000 | 995,000 | 835,000 | 792,000 | 627,000 | 868,000 | 558,000 | 576,000 | 448,000 | |
total current liabilities | 44,179,000 | 38,490,000 | 44,183,000 | 38,596,000 | 25,350,000 | 19,947,000 | 19,734,000 | 18,216,000 | 15,300,000 | 16,241,000 | 10,393,000 | 9,588,000 | 7,494,000 | 6,461,000 | 4,661,000 | 3,812,000 | 3,482,000 | 4,558,000 | 5,360,000 | 3,106,000 | 3,219,000 | 2,739,000 | 2,051,000 | 1,107,000 | 1,459,000 | 3,656,000 |
long-term debt | 18,939,000 | 21,769,000 | 27,591,000 | 27,409,000 | 29,992,000 | 29,811,000 | 4,197,000 | 4,553,000 | 5,107,000 | 5,384,000 | 5,678,000 | 5,992,000 | 6,331,000 | 5,262,000 | 5,550,000 | 5,856,000 | 6,496,000 | 4,587,000 | 4,570,000 | |||||||
operating lease liabilities, net of current portion | 440,000 | 460,000 | 480,000 | 492,000 | 87,000 | 107,000 | 126,000 | 145,000 | 22,000 | 44,000 | 66,000 | 86,000 | 107,000 | 15,000 | 36,000 | 58,000 | 52,000 | 86,000 | 119,000 | |||||||
other long-term liabilities | 3,537,000 | 5,241,000 | 3,942,000 | 4,269,000 | 4,153,000 | 1,830,000 | ||||||||||||||||||||
total liabilities | 67,095,000 | 65,960,000 | 81,384,000 | 77,715,000 | 59,582,000 | 51,695,000 | 19,860,000 | 18,361,000 | 15,300,000 | 16,263,000 | 14,634,000 | 14,207,000 | 12,687,000 | 11,952,000 | 10,339,000 | 9,804,000 | 9,813,000 | 9,835,000 | 10,946,000 | 9,170,000 | 10,007,000 | 7,528,000 | 6,621,000 | 1,159,000 | 1,545,000 | 3,775,000 |
commitments and contingencies | ||||||||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||||||||
common stock, 0.001 par value... | 27,000 | 27,000 | 27,000 | 27,000 | 27,000 | 27,000 | 26,000 | 26,000 | 26,000 | 26,000 | 26,000 | 26,000 | 26,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 21,000 | 21,000 | 21,000 | 18,000 | 18,000 | 18,000 |
additional paid-in capital | 141,528,000 | 138,621,000 | 137,076,000 | 135,984,000 | 133,888,000 | 132,294,000 | 123,250,000 | 121,358,000 | 120,349,000 | 119,521,000 | 118,680,000 | 117,934,000 | 117,009,000 | 116,187,000 | 115,202,000 | 114,218,000 | 112,801,000 | 111,718,000 | 110,787,000 | 109,769,000 | 85,838,000 | 84,977,000 | 83,836,000 | 73,822,000 | 73,208,000 | 72,502,000 |
accumulated deficit | -110,940,000 | -112,494,000 | -113,977,000 | -112,050,000 | -109,465,000 | -107,893,000 | -107,295,000 | -107,922,000 | -104,881,000 | -104,070,000 | -101,814,000 | -101,235,000 | -105,794,000 | -103,134,000 | -104,046,000 | -101,001,000 | -99,443,000 | -94,113,000 | -95,152,000 | -89,058,000 | -84,471,000 | -77,967,000 | -73,237,000 | -61,492,000 | -56,527,000 | -53,278,000 |
total stockholders’ equity | 30,615,000 | 26,154,000 | 23,126,000 | 23,961,000 | 24,450,000 | 24,428,000 | 15,981,000 | 13,462,000 | 15,494,000 | 15,477,000 | 16,892,000 | 16,725,000 | 11,241,000 | 13,078,000 | 11,181,000 | 13,242,000 | 13,383,000 | 17,630,000 | 15,660,000 | 20,736,000 | 1,388,000 | 7,031,000 | 10,620,000 | 12,348,000 | 16,699,000 | 19,242,000 |
total liabilities and stockholders’ equity | 97,710,000 | 92,114,000 | 104,510,000 | 101,676,000 | 84,032,000 | 76,123,000 | 35,841,000 | 31,823,000 | 30,794,000 | 31,740,000 | 31,526,000 | 30,932,000 | 23,928,000 | 25,030,000 | 21,520,000 | 23,046,000 | 23,196,000 | 27,465,000 | 26,606,000 | 29,906,000 | 11,395,000 | 14,559,000 | 17,241,000 | 13,507,000 | 18,244,000 | 23,017,000 |
current portion of long-term debt, net of discount | 8,789,000 | 5,380,000 | ||||||||||||||||||||||||
short-term debt, net of discount | 2,776,000 | 2,769,000 | ||||||||||||||||||||||||
long-term inventory payable | 5,188,000 | 6,949,000 | ||||||||||||||||||||||||
debt, net of unamortized discount | 4,125,000 | 4,658,000 | 5,020,000 | |||||||||||||||||||||||
other accrued liabilities | 4,878,000 | |||||||||||||||||||||||||
current portion of long-term debt | 1,540,000 | 1,540,000 | 1,339,000 | 1,033,000 | 708,000 | 364,000 | 1,418,000 | 1,092,000 | 749,000 | |||||||||||||||||
ppp loan, current portion | 219,000 | 159,000 | ||||||||||||||||||||||||
long-term portion of ppp and eidl loans | 150,000 | 292,000 | ||||||||||||||||||||||||
inventory | 1,699,000 | 1,709,000 | 1,726,000 | |||||||||||||||||||||||
1 | ||||||||||||||||||||||||||
long-term portion of ppp loan | 202,000 | |||||||||||||||||||||||||
prepaid expenses & other current assets | 1,808,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-03-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||||||||||||
net income | 1,554,000 | -579,000 | -1,558,000 | -5,330,000 | -2,016,000 | 5,116,000 | |||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||
stock-based compensation | 1,518,000 | 1,124,000 | 1,092,000 | 2,096,000 | 1,200,000 | 782,000 | 722,000 | 840,000 | 821,000 | 750,000 | 730,000 | 785,000 | 872,000 | 886,000 | 949,000 | 1,300,000 | 1,083,000 | 863,000 | 1,009,000 | 836,000 | 673,000 | 773,000 | 724,000 | 714,000 | 365,000 | 501,000 | 537,000 | 345,000 | 219,000 |
depreciation and amortization | 1,131,000 | 1,017,000 | 1,009,000 | 1,005,000 | 1,013,000 | 355,000 | 278,000 | 261,000 | 252,000 | 275,000 | 202,000 | 211,000 | 213,000 | 252,000 | 170,000 | 1,171,000 | 181,000 | 137,000 | 85,000 | 85,000 | 155,000 | 161,000 | 164,000 | 164,000 | 162,000 | 148,000 | 121,000 | 55,000 | 23,000 |
inventory step-up | 350,000 | 1,421,000 | 1,324,000 | 1,207,000 | 1,142,000 | ||||||||||||||||||||||||
excess and obsolete inventory reserve | 227,000 | ||||||||||||||||||||||||||||
debt discount amortization and non-cash interest expenses | 118,000 | 179,000 | 48,000 | 294,000 | |||||||||||||||||||||||||
non-cash lease expense | 9,000 | 9,000 | 5,000 | 13,000 | 17,000 | 17,000 | 17,000 | ||||||||||||||||||||||
other operating activity | 7,000 | ||||||||||||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||||||||||||
accounts receivable | -1,651,000 | 1,325,000 | 1,371,000 | 1,947,000 | -11,039,000 | -939,000 | -717,000 | -633,000 | -829,000 | 84,000 | -411,000 | -210,000 | -1,022,000 | -354,000 | -664,000 | -38,000 | 4,675,000 | -5,086,000 | -82,000 | -3,000 | -252,000 | -48,000 | 0 | 205,000 | 268,000 | ||||
inventories | 1,406,000 | -581,000 | 5,614,000 | -11,377,000 | 468,000 | -283,000 | 130,000 | 250,000 | -1,407,000 | 140,000 | -235,000 | -379,000 | 120,000 | -76,000 | 50,000 | -21,000 | 40,000 | -216,000 | -106,000 | ||||||||||
prepaid expenses and other assets | 1,754,000 | -2,521,000 | -122,000 | -2,301,000 | 2,973,000 | -3,520,000 | -159,000 | 251,000 | 79,000 | -588,000 | 326,000 | 232,000 | 191,000 | -227,000 | 302,000 | 866,000 | 961,000 | -743,000 | -702,000 | 1,265,000 | -846,000 | -1,325,000 | 54,000 | 231,000 | 1,020,000 | -1,787,000 | 1,478,000 | -1,187,000 | -170,000 |
accounts payable | 2,508,000 | -3,284,000 | 2,122,000 | 7,265,000 | 705,000 | 1,482,000 | 552,000 | -130,000 | 414,000 | 105,000 | -589,000 | 1,067,000 | -530,000 | 712,000 | -245,000 | -82,000 | -393,000 | -1,499,000 | 1,751,000 | -239,000 | -583,000 | 136,000 | 255,000 | 770,000 | 608,000 | 26,000 | -334,000 | 1,736,000 | 159,000 |
accrued medicaid rebates | 1,824,000 | -8,714,000 | 1,806,000 | 3,288,000 | 6,071,000 | -1,181,000 | |||||||||||||||||||||||
accrued liabilities | -1,532,000 | 426,000 | 1,786,000 | 172,000 | -1,373,000 | 3,398,000 | -1,017,000 | 1,850,000 | 1,400,000 | 806,000 | 1,239,000 | 704,000 | 750,000 | 793,000 | -30,000 | 350,000 | 138,000 | 106,000 | -478,000 | 315,000 | 168,000 | -247,000 | -536,000 | 797,000 | -52,000 | -306,000 | 199,000 | ||
other non-current assets and liabilities | -1,818,000 | -4,025,000 | -2,233,000 | 7,181,000 | 2,191,000 | ||||||||||||||||||||||||
net cash from operating activities | 7,405,000 | -11,551,000 | 12,026,000 | 7,959,000 | 2,090,000 | -765,000 | 2,952,000 | 1,255,000 | -2,473,000 | 387,000 | 873,000 | 7,103,000 | -1,548,000 | 2,840,000 | -1,703,000 | 2,461,000 | 1,223,000 | -5,117,000 | -2,950,000 | -369,000 | 3,715,000 | -7,182,000 | -5,094,000 | -2,853,000 | -7,217,000 | -3,848,000 | -3,215,000 | -6,767,000 | -1,774,000 |
capital expenditures | -75,000 | -49,000 | 0 | 0 | -12,000 | 0 | 0 | -14,000 | 0 | 0 | 0 | -12,000 | 0 | -11,000 | -15,000 | -4,000 | -2,000 | 0 | -44,000 | -2,000 | 0 | -34,000 | -32,000 | -337,000 | -54,000 | ||||
free cash flows | 7,330,000 | -11,600,000 | 12,026,000 | 7,959,000 | -777,000 | 2,952,000 | 1,255,000 | -2,487,000 | 387,000 | 873,000 | 7,103,000 | 2,828,000 | -1,703,000 | 2,450,000 | 1,208,000 | -5,121,000 | -2,952,000 | -369,000 | -7,226,000 | -5,096,000 | -2,853,000 | -3,882,000 | -3,247,000 | -7,104,000 | -1,828,000 | ||||
cash flows from investing activities | |||||||||||||||||||||||||||||
purchases of product license rights | -15,000,000 | 0 | 0 | -1,868,000 | |||||||||||||||||||||||||
purchases of property and equipment | -75,000 | -49,000 | -12,000 | 0 | 0 | -14,000 | -12,000 | 0 | -11,000 | -15,000 | -4,000 | -2,000 | -44,000 | -2,000 | 0 | -4,000 | -34,000 | -32,000 | -388,000 | -54,000 | |||||||||
net cash from investing activities | -15,075,000 | -49,000 | -38,132,000 | 0 | 0 | -1,882,000 | -12,000 | -2,000,000 | -761,000 | -15,000 | |||||||||||||||||||
cash flows from financing activities | |||||||||||||||||||||||||||||
proceeds from stock option exercises | 1,389,000 | 394,000 | 7,000 | 4,000 | |||||||||||||||||||||||||
net cash from financing activities | 1,389,000 | 421,000 | 0 | 0 | 394,000 | 33,572,000 | -385,000 | -216,000 | -378,000 | -294,000 | -368,000 | -246,000 | -49,000 | 99,000 | 35,000 | 117,000 | -385,000 | -304,000 | -2,000 | 594,000 | 103,000 | 21,189,000 | 2,158,000 | 788,000 | 7,490,000 | 4,921,000 | 77,000 | 4,000 | |
change in cash and cash equivalents | -6,281,000 | -11,179,000 | 11,742,000 | 7,959,000 | 2,484,000 | -5,325,000 | 2,567,000 | 1,039,000 | -4,733,000 | -682,000 | 504,000 | 6,858,000 | -1,597,000 | 2,927,000 | -3,668,000 | 1,817,000 | 823,000 | -8,303,000 | -3,093,000 | 689,000 | 3,818,000 | 13,963,000 | -2,938,000 | -2,065,000 | 269,000 | 289,000 | -3,170,000 | -7,151,000 | 20,132,000 |
cash and cash equivalents at beginning of period | 25,942,000 | 0 | 0 | 14,936,000 | 0 | 0 | 21,388,000 | 0 | 0 | 16,305,000 | 0 | 0 | 14,406,000 | 0 | 0 | 21,295,000 | 0 | 0 | 12,066,000 | 0 | 0 | 26,735,000 | 0 | ||||||
cash and cash equivalents at end of period | 19,661,000 | 11,742,000 | 7,959,000 | 17,420,000 | 2,567,000 | 1,039,000 | 16,655,000 | 504,000 | 6,858,000 | 14,708,000 | -3,668,000 | 1,817,000 | 15,229,000 | -3,093,000 | 689,000 | 25,113,000 | -2,938,000 | -2,065,000 | 12,335,000 | 289,000 | -3,170,000 | 19,584,000 | 20,132,000 | ||||||
supplemental disclosures of cash flow information | |||||||||||||||||||||||||||||
cash paid for interest | 881,000 | 930,000 | 1,543,000 | 210,000 | 642,000 | 140,000 | 163,000 | 172,000 | 190,000 | 204,000 | 212,000 | 210,000 | 216,000 | 185,000 | 167,000 | 163,000 | 215,000 | 212,000 | 179,000 | 210,000 | 214,000 | 252,000 | 187,000 | 169,000 | 189,000 | ||||
cash paid for income taxes | 37,000 | 1,000 | 28,000 | 81,000 | 8,000 | -99,000 | |||||||||||||||||||||||
net loss | 1,483,000 | -1,927,000 | -2,585,000 | -1,572,000 | -3,041,000 | -811,000 | -2,660,000 | 912,000 | 1,039,000 | -7,687,000 | -6,504,000 | -4,730,000 | -9,049,000 | -2,696,000 | -4,965,000 | -7,410,000 | -3,730,000 | ||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||||||
debt discount amortization | 1,039,000 | 22,000 | 23,000 | 25,000 | 27,000 | 29,000 | 32,000 | 29,000 | 31,000 | 30,000 | 30,000 | 36,000 | 38,000 | 37,000 | 37,000 | 36,000 | 36,000 | 35,000 | 23,000 | 27,000 | |||||||||
changes in operating assets and liabilities, net of impact of business acquisition: | |||||||||||||||||||||||||||||
cash from investing activities | |||||||||||||||||||||||||||||
acquisition of business | |||||||||||||||||||||||||||||
purchase of product licensing rights | |||||||||||||||||||||||||||||
net proceeds from the issuance of long-term debt | |||||||||||||||||||||||||||||
repayment of long-term debt | 0 | -385,000 | -385,000 | -385,000 | -385,000 | 0 | 0 | -385,000 | |||||||||||||||||||||
common stock issued in private placement offering | |||||||||||||||||||||||||||||
payment of tax withholding related to net share settlement of stock option exercises | 0 | 0 | -181,000 | ||||||||||||||||||||||||||
employee stock purchase plan | |||||||||||||||||||||||||||||
cash and cash equivalents at beginning of year | |||||||||||||||||||||||||||||
cash and cash equivalents at end of year | |||||||||||||||||||||||||||||
supplemental disclosures of non-cash investing and financing activities: | |||||||||||||||||||||||||||||
debt issuance costs | |||||||||||||||||||||||||||||
fair value of warrants issued in connection with debt agreement | |||||||||||||||||||||||||||||
adjustment of operating lease right-of-use assets and liabilities due to tenant allowance | 0 | ||||||||||||||||||||||||||||
right-of-use assets obtained in exchange for lease liabilities | |||||||||||||||||||||||||||||
proceeds from employee stock purchase plan and stock option exercises | 0 | 0 | 17,000 | 139,000 | 132,000 | 68,000 | 9,000 | 163,000 | 43,000 | 171,000 | 77,000 | ||||||||||||||||||
stock warrant exercises | |||||||||||||||||||||||||||||
other accrued liabilities | |||||||||||||||||||||||||||||
right-of-use assets and liabilities obtained due to lease renewal | 0 | ||||||||||||||||||||||||||||
supplemental disclosures of non-cash transactions in investing and financing activities | |||||||||||||||||||||||||||||
relative fair value of warrants issued in connection with debt | |||||||||||||||||||||||||||||
gain on forgiveness of ppp loan | |||||||||||||||||||||||||||||
gain on sale of equipment | 0 | 0 | |||||||||||||||||||||||||||
proceeds from sale of equipment | 0 | 0 | |||||||||||||||||||||||||||
debt paydown | |||||||||||||||||||||||||||||
net proceeds from employee stock purchase plan and stock option and stock warrant exercises | |||||||||||||||||||||||||||||
supplemental disclosures of non-cash transactions | |||||||||||||||||||||||||||||
supplemental disclosures of non-cash investing activities: | |||||||||||||||||||||||||||||
payable for product license fee | 750,000 | ||||||||||||||||||||||||||||
common stock issued for product candidate licensing rights | 0 | 0 | 0 | 1,264,000 | |||||||||||||||||||||||||
proceeds from issuance of long-term debt, net of issuance costs | 0 | ||||||||||||||||||||||||||||
proceeds from sales of common stock, net of offering costs | 21,026,000 | 0 | 297,000 | 7,459,000 | |||||||||||||||||||||||||
proceeds from ppp and eidl loans | 0 | ||||||||||||||||||||||||||||
proceeds from employee stock purchase plan and stock option and stock warrant exercises | |||||||||||||||||||||||||||||
relative fair value of common stock warrants issued in connection with debt | 0 | ||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash provided by operating activities: | |||||||||||||||||||||||||||||
gain on forgiveness of debt | 0 | ||||||||||||||||||||||||||||
purchase of product license rights | -2,000,000 | ||||||||||||||||||||||||||||
proceeds from employee stock option exercises and espp | |||||||||||||||||||||||||||||
proceeds from employee stock option exercises | 103,000 | 31,000 | |||||||||||||||||||||||||||
cash used in investing activities | |||||||||||||||||||||||||||||
eidl loan payoff | 0 | ||||||||||||||||||||||||||||
supplemental disclosure of non-cash financing activity | |||||||||||||||||||||||||||||
relative fair value of warrants to purchase common stock issued in connection with debt | |||||||||||||||||||||||||||||
proceeds from ppp loan | |||||||||||||||||||||||||||||
change in fair value of warrant liability | 1,526,000 | ||||||||||||||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions | |||||||||||||||||||||||||||||
payments of initial public offering costs | |||||||||||||||||||||||||||||
accrued dividends on redeemable convertible preferred stock | 148,000 | ||||||||||||||||||||||||||||
deemed dividends for accretion of redeemable convertible preferred stock issuance costs | 437,000 | ||||||||||||||||||||||||||||
purchase of equipment included in accounts payable | |||||||||||||||||||||||||||||
beneficial conversion feature on redeemable convertible preferred stock | |||||||||||||||||||||||||||||
reclassification of common stock warrants from liability to additional paid-in-capital | |||||||||||||||||||||||||||||
inventory | 10,000 | 17,000 | -1,346,000 | ||||||||||||||||||||||||||
purchases of equipment included in accounts payable | 51,000 | ||||||||||||||||||||||||||||
proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | |||||||||||||||||||||||||||||
proceeds from issuance of common stock | |||||||||||||||||||||||||||||
common stock warrant liability issued with redeemable convertible preferred stock financing | |||||||||||||||||||||||||||||
proceeds from sale of common stock |