Eton Pharmaceuticals, Inc. (ETON) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 94.25% of current shares
Recent Dilution: 5.89% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
27M
Potential Supply
26M
Additional shares possible
Splits
None
Past 2 years

Summary

ETON currently has 27.3M outstanding shares. with significant dilution risk as 25.7M authorized shares could dilute existing holders by 94.3%. The company has minimally diluted shareholders by 5.89% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 14, 2026

10-Q filing | 27.3M shares outstanding

27M 26M
Mar 19, 2026

10-K filing | 26.9M shares outstanding

27M 26M
Nov 06, 2025

10-Q filing | 26.9M shares outstanding

27M 26M
Aug 07, 2025

10-Q filing | 26.9M shares outstanding

27M 26M
May 13, 2025

10-Q filing | 26.9M shares outstanding

27M 26M
Mar 18, 2025

10-K filing | 25.9M shares outstanding

26M 27M
Dec 12, 2024

8-K filing: Eton Pharmaceuticals, Inc. entered into a Securities Purchase Agreement with an institutional investor to issue and sell 583,334 shares of common stock at $12.00 per share in a registered direct offering, with gross proceeds of approximately $7.0 million. ($7.0M proceeds)

26M 27M
Nov 12, 2024

10-Q filing | 25.8M shares outstanding

26M 27M
Oct 03, 2024

8-K filing: Eton Pharmaceuticals, Inc. entered into an Asset Purchase Agreement to acquire Increlex® from Ipsen Biopharmaceuticals, Inc. and amended its credit agreement with SWK Holdings, issuing a warrant for 289,736 shares of common stock contingent upon the closing of the acquisition.

26M 27M
Aug 08, 2024

10-Q filing | 25.7M shares outstanding

26M 27M
May 09, 2024

10-Q filing | 25.7M shares outstanding

26M 27M
Mar 14, 2024

10-K filing | 25.6M shares outstanding

26M 27M
Nov 09, 2023

10-Q filing | 25.7M shares outstanding

26M 27M
Aug 10, 2023

10-Q filing | 25.6M shares outstanding

26M 27M
May 11, 2023

10-Q filing | 25.5M shares outstanding

26M 27M
Apr 07, 2023

S-3 filing: The company is offering common stock, preferred stock, debt securities and subscription rights for a maximum aggregate offering price of $100,000,000.

26M 27M
Mar 16, 2023

10-K filing | 25.1M shares outstanding

25M 0
Nov 10, 2022

10-Q filing | 25.4M shares outstanding

25M 0
Aug 11, 2022

10-Q filing | 25.3M shares outstanding

25M 0
May 12, 2022

10-Q filing | 25.3M shares outstanding

25M 0
Mar 16, 2022

10-K filing | 24.6M shares outstanding

25M 0
Nov 16, 2021

10-Q filing | 24.6M shares outstanding

25M 0
Aug 16, 2021

10-Q filing | 25.2M shares outstanding

25M 0
May 13, 2021

10-Q filing | 24.5M shares outstanding

24M 0
Apr 13, 2021

8-K filing: Eton Pharmaceuticals, Inc. announced the closing of a public offering of 1,518,000 shares of its common stock by Harrow Health, Inc. at a price of $7.00 per share, resulting in gross proceeds of approximately $10.63 million to the Selling Stockholder. ($10.63M proceeds)

18M 0
Apr 08, 2021

8-K filing: Harrow Health, Inc. sold 1,320,000 shares of Eton Pharmaceuticals, Inc. common stock at a price of $7.00 per share, with gross proceeds expected to be approximately $9.24 million before deducting underwriting discounts and other offering expenses. ($9.24M proceeds)

18M 0
Mar 16, 2021

10-K filing | 17.9M shares outstanding

18M 6.5M
Nov 12, 2020

10-Q filing | 24.2M shares outstanding

24M 200K
Oct 16, 2020

8-K filing: Eton Pharmaceuticals, Inc. announced the closing of its offering of 3,220,000 shares of common stock at a public offering price of $7.00 per share. ($22.54M proceeds)

21M 3.5M
Oct 14, 2020

8-K filing: Eton Pharmaceuticals, Inc. entered into an underwriting agreement for a public offering of 2,800,000 shares of common stock at $7.00 per share, with an over-allotment option for an additional 420,000 shares. ($19.6M proceeds)

21M 3.5M
Aug 12, 2020

10-Q filing | 21.0M shares outstanding

21M 3.5M
Jul 31, 2020

S-3 filing: Resale of up to 3,500,000 shares of common stock by the selling stockholder, Harrow Health, Inc.

21M 3.5M
May 14, 2020

10-Q filing | 20.9M shares outstanding

21M 0
Mar 30, 2020

8-K filing: Eton Pharmaceuticals, Inc. entered into a Securities Purchase Agreement with Opaleye L.P. to sell 2,000,000 shares of Common Stock for $3.00 per share and another agreement with certain investors to issue 600,000 shares of Common Stock also at $3.00 per share. ($7.8M proceeds)

18M 0
Mar 05, 2020

10-K filing | 17.9M shares outstanding

18M 0
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