Why Is Eton Pharmaceuticals (ETON) Stock Plunging On Monday?

  • According to an SEC filing, the FDA action date for Eton Pharmaceuticals Inc's ETON antiepileptic topiramate oral solution has been delayed three months to November 6.
  • An FDA decision was expected on Friday.
  • However, Eton said that privately held Azurity Pharmaceuticals submitted a recent amendment to the drug application. 
  • Topiramate is one of three neurology candidates Azurity purchased from Eton in February.
  • If approved, Eton is entitled to a $5M milestone payment and a royalty on sales.
  • Eton suffered a setback in late May when FDA declined to approve the Company's dehydrated alcohol injection for methanol poisoning.
  • Price Action: ETON stock is down 16.4% at $4.91 on the last check Monday.
  • Related content: Benzinga's Full FDA Calendar.
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