Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Q1 2023 Earnings Conference Call May 12, 2023 4:30 PM ET

Company Participants

David Krempa - Chief Business Officer

Sean Brynjelsen - CEO

James Gruber - CFO

Conference Call Participants

Raghuram Selvaraju - H.C. Wainwright & Co

Operator

Good afternoon and welcome to the Eton Pharmaceuticals' First Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen only mode. Following the formal remarks, we will open the call up for your questions. Please be advised that this call is being recorded at the company's request.

At this time, I would like to turn it over to David Krempa, Chief Business Officer at Eton Pharmaceuticals. Please proceed.

David Krempa

Thank you, operator. Good afternoon, everyone and welcome to Eton's first quarter 2023 conference call. This afternoon, we issued a press release that outlines the topics we plan to discuss on today's call. The release is available on our website, etonpharma.com.

Joining me on our call today, we have Sean Brynjelsen, our CEO; and James Gruber, our CFO. In addition to taking live questions on today's call, we will be answering questions that are e-mailed to us. Investors can send their questions to investorrelations@etonpharma.com.

Before we begin, I would like to remind everyone that remarks made during this call may contain forward-looking statements and involve risks and uncertainties that could cause actual results to differ materially from those contained in these forward-looking statements. Please see the forward-looking statements disclaimer in our earnings release and the risk factors in the company's filings with the SEC.

Now, I will turn the call over to our CEO, Sean Brynjelsen.

Sean Brynjelsen

Thank you, David. Good afternoon everyone, and thank you for joining us today. I'm excited to talk with all of you to go over our first quarter results, as well as our outlook for the rest of the year and beyond. As previously communicated, we knew 2023 was going to be a major inflection point in ETON’s history. We seek to more than double product sales, launch new rare disease products and reach profitability.

I'm pleased to say we're off to a very good start with the exceptional first quarter results we announced today. It was another quarter of record product sales for ETON, our ninth straight sequential product revenue growth. Total product sales and royalty revenue was $5.4 million, an increase of 52% over the fourth quarter of 2022 and up 144% from the quarter of 2022. ALKINDI SPRINKLE and Carglumic Acid, both reported record sales in the quarter.