Eton Pharma Shares Rise After FDA Accepts New Drug Application for ET-400

By Stephen Nakrosis

Shares of Eton Pharmaceuticals climbed in Monday's after-hours market, following news that the Food and Drug Administration accepted the company's new drug application for ET-400, a formulation of hydrocortisone oral solution.

After the bell, the stock gained 12% to trade at $3.75. The stock closed the day's regular session with a 2% loss. Shares are down about 24% for the year, based on Monday's close.

Eton said ET-400 is a room-temperature-stable formulation of oral hydrocortisone. The company also said it received a U.S. patent related to the product that expires in 2043, adding there are additional patent applications under review.

Eton hopes to launch ET-400 in early 2025.

Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

07-15-24 1654ET