UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 8.01 Other Events.
On September 13, 2022, Eton Pharmaceuticals, Inc. issued a press release announcing that it had acquired betaine anhydrous for oral solution.
Under terms of the agreement, Eton paid the seller $2.0 million upon signing for the acquisition and all existing inventory, and will pay to the seller 35% of product profits for a period of ten years, plus potential contingent payments of up to an additional $1.0 million, including:
| ● | $0.25 million on the twelve month anniversary of closing | |
| ● | $0.25 million when net sales of the product exceed $4.0 million in a calendar year | |
| ● | $0.50 million if no additional generic competitors have launched within 48 months after closing |
A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
| Exhibit 99.1 | Press Release dated September 13, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: September 13, 2022 | By:
|
/s/ James R. Gruber |
| James R. Gruber | ||
| Chief Financial Officer and Secretary | ||
| (Principal Financial Officer) |
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