- Eton Pharmaceuticals Inc (NASDAQ:ETON) has appointed James Gruber as Chief Financial Officer effective immediately. He succeeds Wilson Troutman, who is retiring.
- Mr. Troutman will remain with the company through May to ensure a smooth transition.
- Mr. Gruber, most recently, was the U.S. Controller at Horizon Therapeutics (NASDAQ:HZNP) for seven years, where he oversaw accounting activities for the company during its rapid growth. Before Horizon, Mr. Gruber spent 14 years at Abbott Laboratories, where he held various financial and accounting leadership positions.
- Earlier today, Eton Pharmaceuticals received final approval from the U.S. Food and Drug Administration (FDA) for its cysteine hydrochloride abbreviated new drug application (ANDA), a bioequivalent generic of Exela Pharma Sciences' Elcys™.
- Eton was granted 180 days of generic exclusivity as a result of being the first ANDA submitted against the reference product.
- Eton is currently engaged with Exela in paragraph IV litigation regarding the validity of Exela's cysteine patents. The trial was held in March 2022, and a decision is expected in the third quarter of 2022.
- Price Action: ETON shares are trading lower by 3.41% at $3.68 during the post-market session on Monday.
