Eton Pharmaceuticals, which is developing liquid formulations of various approved drugs, raised the proposed deal size for its upcoming IPO on Monday.
The Deer Park, IL-based company now plans to raise $22 million by offering 3.6 million shares at a price of $6. The company had previously filed to offer 3.0 million shares at the same price. At $6, Eton Pharmaceuticals will raise 20% more in proceeds than previously anticipated.
The company is developing several drugs under the FDA's accelerated 505(b)(2) pathway, and one other under the generic 505(j) pathway.
Eton Pharmaceuticals was founded in 2017 and plans to list on the Nasdaq under the symbol ETON. National Securities is the sole bookrunner on the deal.
