On January 23, 2019 Eton Pharmaceuticals, Inc. entered into a Licensing and Supply Agreement with Liqmeds Worldwide Limited for ET-104 oral liquid, a development stage product candidate. Eton will be responsible for regulatory and marketing activities. LMW will be responsible for development and manufacturing of ET-104. Eton is obligated to pay to LMW licensing payments of up to $2.5 million.