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

According to an SEC filing, the FDA action date for Eton Pharmaceuticals Inc's (NASDAQ: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.