Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Q3 2022 Earnings Conference Call November 10, 2022 4:30 PM ET

Company Participants

David Krempa - Senior Vice President, Business Development & Investor Relations

Sean Brynjelsen - Chief Executive Officer

James Gruber - Chief Financial Officer

Conference Call Participants

Operator

Good afternoon and welcome to the Eton Pharmaceuticals' Third Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen only mode. Following the formal remarks, we will open the call out for your question. 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, Senior Vice President of Business Development and Investor Relations at Eton Pharmaceuticals. Please proceed.

David Krempa

Thank you, operator. Good afternoon, everyone and welcome to Eton's third quarter 2022 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 statements 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 Chief Executive Officer, Sean Brynjelsen.

Sean Brynjelsen

Thanks, David. Good afternoon, everyone, and thank you for joining us to discuss Eton's third quarter results. It was another strong quarter for the company, with total revenue up 315% compared to the prior year period.

Revenue from product sales and royalties continued to increase sequentially with a 37% jump from Q2, representing the seventh straight quarter of growth, driven primarily by ALKINDI SPRINKLE and carglumic acid.

Feedback from parents and physicians continues to be overwhelmingly positive about ALKINDI SPRINKLE, the first and only hydrocortisone treatment designed specifically to provide accurate dosing for newborns and children with adrenal insufficiency. The product addresses a huge unmet need for a low-dose option.

Third quarter sales of ALKINDI were up 19% over the second quarter, and we continue to see steady growth in prescriptions each month, coming from both new prescribers as well as existing prescribers who have added new patients after seeing positive results from their initial patients. We're excited about the $100 million market opportunity and believe the product has a long runway to grow for many years to come.