Eton Pharmaceuticals Inc. filed for an IPO to list its common shares on the Nasdaq Capital Market under the symbol ETON.
The Deer Park, Ill.-based pharmaceutical company, which was founded in April 2017, plans to sell shares priced at $6 each.
Eton Pharmaceuticals was initially a wholly-owned subsidiary of San Diego, Calif.-based ophthalmology company Imprimis Pharmaceuticals Inc. Its pipeline includes DS-300, an injectable nutrition product, as well as EM-100, a treatment for a type of eye inflammation called allergic conjunctivitis.
Following a series A preferred stock financing in June 2017, Imprimis' stake reduced to 3.5 million Eton common shares representing about 27% of the company's capital stock.
The company, which is no longer a unit of Imprimis, intends to use the proceeds from the IPO to fund its clinical trials and product development as well as for other general corporate purposes.
National Securities Corp. is acting as underwriter for the offering.