Eton Pharmaceuticals (ETON) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Entity Central Index Key	0001710340
Entity Registrant Name	Eton Pharmaceuticals, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-38738
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1858472
Entity Address, Address Line One	21925 W. Field Parkway, Suite 235
Entity Address, City or Town	Deer Park
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60010-7278
City Area Code	847
Local Phone Number	787-7361
Title of 12(b) Security	Common stock, $0.001 par value per share
Trading Symbol	ETON
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,836,204

Condensed Balance Sheets (Curre

Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 20,261	$ 21,388
Accounts receivable, net	5,591	3,411
Inventories	1,938	911
Prepaid expenses and other current assets	1,959	1,129
Total current assets	29,749	26,839
Property and equipment, net	33	58
Intangible assets, net	5,854	4,739
Operating lease right-of-use assets, net	193	92
Other long-term assets, net	12	12
Total assets	35,841	31,740
Liabilities, Current [Abstract]
Accounts payable	2,684	1,848
Debt, net of unamortized discount	4,125	5,380
Accrued Medicaid rebates	8,047	3,627
Other Accrued Liabilities, Current	4,878	5,386
Total current liabilities	19,734	16,241
Operating lease liabilities, noncurrent	126	22
Total liabilities	19,860	16,263
Commitments and contingencies (Note 11)
Stockholders’ equity
Common stock, $0.001 par value; 50,000,000 shares authorized; 25,836,204 and 25,688,062 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	26	26
Additional paid-in capital	123,250	119,521
Accumulated deficit	(107,295)	(104,070)
Total stockholders’ equity	15,981	15,477
Total liabilities and stockholders’ equity	$ 35,841	$ 31,740

Condensed Balance Sheets (Cur_2

Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	25,836,204	25,688,062
Common stock, outstanding (in shares)	25,836,204	25,688,062

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total net revenues	$ 10,324	$ 7,028	$ 27,364	$ 24,329
Cost of sales:
Total cost of sales	4,022	2,625	10,429	6,898
Gross profit	6,302	4,403	16,935	17,431
Operating expenses:
Research and development	505	615	4,126	2,275
General and administrative	5,288	4,336	16,035	14,355
Total operating expenses	5,793	4,951	20,161	16,630
Income (loss) from operations	509	(548)	(3,226)	801
Other income (expense):
Other income	0	0	0	800
Interest expense, net	(8)	(31)	(71)	(281)
Total other income (expense)	(8)	(31)	(71)	519
Income (loss) before income tax expense	501	(579)	(3,297)	1,320
Income tax expense (benefit)	(126)	0	(72)	0
Net income (loss)	$ 627	$ (579)	$ (3,225)	$ 1,320
Net income (loss) per share, basic (in dollars per share)	$ 0.02	$ (0.02)	$ (0.12)	$ 0.05
Weighted average number of common shares outstanding, basic (in shares)	25,900	25,719	25,814	25,613
Net income (loss) per share, diluted (in dollars per share)	$ 0.02	$ (0.02)	$ (0.12)	$ 0.05
Weighted average number of common shares outstanding, diluted (in shares)	26,550	25,719	25,814	26,002
License [Member]
Revenues:
Total net revenues	$ 500	$ 0	$ 500	$ 5,500
Cost of sales:
Total cost of sales	270	0	270	0
Product Sales and Royalties [Member]
Revenues:
Total net revenues	9,824	7,028	26,864	18,829
Cost of sales:
Total cost of sales	$ 3,752	$ 2,625	$ 10,159	$ 6,898

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balances, shares (in shares) at Dec. 31, 2022	25,353,119
Balances at Dec. 31, 2022	$ 25	$ 116,187	$ (103,134)	$ 13,078
Stock-based compensation, shares (in shares)	0
Stock-based compensation	$ 0	2,387	0	2,387
Stock option exercises and vesting of restricted stock units (in shares)	298,528
Stock option exercises and vesting of restricted stock units	$ 1	147	0	148
Net Income (loss)	$ 0	0	1,320	1,320
Balances, shares (in shares) at Sep. 30, 2023	25,658,396
Balances at Sep. 30, 2023	$ 26	118,680	(101,814)	16,892
Employee stock purchase plan (in shares)	57,616
Employee stock purchase plan	$ 0	140	0	$ 140
Shares withheld related to net share settlement of stock option exercises (in shares)	(50,867)			(50,867)
Shares withheld related to net share settlement of stock option exercises	$ 0	(181)	0	$ (181)
Balances, shares (in shares) at Jun. 30, 2023	25,561,994
Balances at Jun. 30, 2023	$ 26	117,934	(101,235)	16,725
Stock-based compensation	$ 0	730	0	730
Stock option exercises and vesting of restricted stock units (in shares)	96,402
Stock option exercises and vesting of restricted stock units	$ 0	16	0	16
Net Income (loss)	$ 0	0	(579)	(579)
Balances, shares (in shares) at Sep. 30, 2023	25,658,396
Balances at Sep. 30, 2023	$ 26	118,680	(101,814)	16,892
Balances, shares (in shares) at Dec. 31, 2023	25,688,062
Balances at Dec. 31, 2023	$ 26	119,521	(104,070)	15,477
Stock-based compensation, shares (in shares)	0
Stock-based compensation	$ 0	2,383	0	2,383
Stock option exercises and vesting of restricted stock units (in shares)	92,902
Stock option exercises and vesting of restricted stock units	$ 0	7	0	7
Relative fair value of warrants issued in connection with debt	0	1,170	0	1,170
Net Income (loss)	$ 0	0	(3,225)	(3,225)
Balances, shares (in shares) at Sep. 30, 2024	25,836,204
Balances at Sep. 30, 2024	$ 26	123,250	(107,295)	15,981
Employee stock purchase plan (in shares)	55,240
Employee stock purchase plan	$ 0	169	0	169
Balances, shares (in shares) at Jun. 30, 2024	25,745,802
Balances at Jun. 30, 2024	$ 26	121,358	(107,922)	13,462
Stock-based compensation, shares (in shares)	0
Stock-based compensation	$ 0	722	0	722
Stock option exercises and vesting of restricted stock units (in shares)	90,402
Stock option exercises and vesting of restricted stock units	$ 0	0	0	0
Relative fair value of warrants issued in connection with debt	0	1,170	0	1,170
Net Income (loss)	$ 0	0	627	627
Balances, shares (in shares) at Sep. 30, 2024	25,836,204
Balances at Sep. 30, 2024	$ 26	$ 123,250	$ (107,295)	$ 15,981

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net Income (loss)	$ (3,225,000)	$ 1,320,000
Adjustments to reconcile net income (loss) to net cash from operating activities:
Stock-based compensation	2,383,000	2,387,000
Depreciation and amortization	791,000	576,000
Non-cash lease expense	53,000	50,000
Debt discount amortization	70,000	90,000
Changes in operating assets and liabilities:
Accounts receivable	(2,179,000)	(1,643,000)
Inventories	(1,027,000)	(494,000)
Prepaid expenses and other assets	171,000	749,000
Accounts payable	836,000	(52,000)
Accrued Medicaid rebates	4,420,000	2,342,000
Other accrued liabilities	(559,000)	1,103,000
Net cash from operating activities	1,734,000	6,428,000
Cash flows from investing activities
Purchases of product license rights	(1,868,000)	0
Purchases of property and equipment	(14,000)	0
Net cash from investing activities	(1,882,000)	0
Cash flows from financing activities
Repayment of long-term debt	(1,155,000)	(770,000)
Proceeds from employee stock purchase plan and stock option exercises	176,000	288,000
Payment of tax withholding related to net share settlement of stock option exercises	0	(181,000)
Net cash from financing activities	(979,000)	(663,000)
Change in cash and cash equivalents	(1,127,000)	5,765,000
Cash and cash equivalents at beginning of period	21,388,000	16,305,000
Cash and cash equivalents at end of period	20,261,000	22,070,000
Supplemental disclosures of cash flow information
Cash paid for interest	525,000	638,000
Cash paid for income taxes	181,000	0
Right-of-use assets and liabilities obtained due to lease renewal	153	29
Supplemental disclosures of non-cash transactions in investing and financing activities
Relative fair value of warrants issued in connection with debt	$ 1,170,000	$ 0

Note 1 - Company Overview

Note 1 - Company Overview	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1 — Company Overview Eton is an innovative pharmaceutical company focused on developing and commercializing treatments for rare diseases. The Company currently has five 1 1 three 400, 600,

Note 2 - Liquidity Consideratio

Note 2 - Liquidity Considerations	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Liquidation Basis of Accounting [Text Block]	Note 2 — Liquidity Considerations The Company believes its existing cash and cash equivalents of $20,261 as of September 30, 2024 twelve may

Note 3 - Summary of Significant

Note 3 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 3 — Summary of Significant Accounting Policies Basis of Presentation The Company has prepared the accompanying condensed financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”). Unaudited Interim Financial Information The accompanying interim condensed financial statements are unaudited and have been prepared on the same basis as the audited financial statements and, in the opinion of management, reflect all adjustments necessary for the fair presentation of the Company’s financial position as of September 30, 2024 September 30, 2024 2023 three nine September 30, 2024 2023 three nine September 30, 2024 not December 31, 2024 Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not Segment Information The Company operates the business on the basis of a single reportable segment, which is the business of developing and commercializing prescription drug products. The Company’s chief operating decision-maker is the Chief Executive Officer (“CEO”), who evaluates the Company as a single operating segment. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three September 30, 2024 Accounts Receivable Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are recorded net of allowances for credit losses, cash discounts for prompt payment, distribution fees, chargebacks, rebates, and returns. The total for these reserves amounted to $229 and $129 as of September 30, 2024 December 31, 2023 not not Inventories The Company values its inventories at the lower of cost or net realizable value using the first first September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation of property and equipment is computed utilizing the straight-line method based on the following estimated useful lives: computer hardware and software is depreciated over three five Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized. Intangible Assets The Company capitalizes payments it makes for licensed products when the payment relates to a U.S. Food and Drug Administration (“FDA”)-approved product, and the cost is recoverable based on expected future cash flows from the product. The cost is amortized on a straight-line basis over the estimated useful life of the product commencing on the approval date in accordance with Accounting Standards Codification (“ASC”) 350, November 2021, ten September 2022, five October 2023, five March 2024, ten September 30, 2024 three nine September 30, 2024 five 2024 2028 Amortization Year Expense Remainder of 2024 $ 266 2025 1,067 2026 1,067 2027 943 2028 609 Thereafter 1,902 Total estimated amortization expense $ 5,854 Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not nine September 30, 2024 2023 Deferred Financing Costs, Debt Discount and Detachable Debt-Related Warrants Costs incurred to issue debt are deferred and recorded as a reduction to the debt balance in the accompanying balance sheets. The Company amortizes these costs over the expected term of the related debt under the effective interest method. Debt discounts related to the relative fair value of warrants issued in conjunction with debt are also recorded as a reduction to the debt balance and accreted over the expected term into interest expense using the effective interested method. The fair value of warrants related to the issuance of a delayed draw term loan commitment is capitalized as short-term assets. Once a draw is made, the unamortized asset is reclassified as a reduction to the related debt balance and amortized into interest expense under the effective interest method. Leases The Company accounts for leases in accordance with ASC Topic 842 not The Company measures right-of-use assets based on the corresponding lease liabilities adjusted for (i) any prepayments made to the lessor at or before the commencement date, (ii) initial direct costs it incurs, and (iii) any incentives under the lease. In addition, the Company evaluates the recoverability of its right-of-use assets for possible impairment in accordance with its long-lived assets policy. Operating leases are reflected on the balance sheets as operating lease right-of-use assets, current accrued liabilities, and long-term operating lease liabilities. The Company did not September 30, 2024 December 31, 2023 The Company commences recognizing operating lease expense when the lessor makes the underlying asset available for use by the Company and the operating lease expense is recognized on a straight-line basis over the term of the lease. Variable lease payments are expensed as incurred. The Company does not twelve Concentrations of Credit Risk, Sources of Supply and Significant Customers The Company is subject to credit risk for its cash and cash equivalents which are invested in high-grade money market funds and short-term U.S. treasury bills from time to time. The Company maintains its cash and cash equivalent balances with one The Company is dependent on third The Company is also subject to credit risk from its accounts receivable related to product sales as it extends credit based on an evaluation of the customer’s financial condition, and collateral is not not not not September 30, 2024 2023 September 30, 2024 December 31, 2023 nine September 30, 2024 2023 nine September 30, 2024 September 30, 2024 nine September 30, 2023 December 31, 2023 not not Revenue Recognition for Contracts with Customers The Company accounts for contracts with its customers in accordance with ASC 606 606 606, 606, five At contract inception, once the contract is determined to be within the scope of ASC 606, The Company recognizes as revenue the amount of the transaction price allocated to the respective performance obligation when (or as) each performance obligation is satisfied at a point in time or over time, and if over time this is based on the use of an output or input method. Any amounts received prior to revenue recognition will be recorded as deferred revenue. Amounts expected to be recognized as revenue within the twelve not twelve Milestone Payments not not not Royalties Significant Financing Component one The Company sells its ALKINDI SPRINKLE®, Carglumic Acid, Betaine Anhydrous, Nisitinone, and PKU GOLIKE® products to pharmacy distributor customers which provide order fulfilment and inventory storage/distribution services. The Company may third “3PL” 3PL 3PL no For its ALKINDI SPRINKLE®, Carglumic Acid, Betaine Anhydrous, Nisitinone, and PKU GOLIKE® products, the Company bills at the initial product list price which are subject to offsets for patient co-pay assistance and potential state Medicaid reimbursements which are estimated and recorded as a reduction of net revenues at the date of sale/shipment. Selling prices initially billed to wholesalers are subject to discounts for prompt payment and subsequent chargebacks when the wholesalers sell products at negotiated discounted prices to members of certain group purchasing organizations (“GPOs”) and government programs. Because of the shelf life of the product and the Company’s lengthy return period, there may The Company estimates the transaction price when it receives each purchase order taking into account the expected reductions of the selling price initially billed to the wholesaler/distributor arising from all of the above factors. The Company has developed estimates for future returns and chargebacks and the impact of other discounts and fees it pays. When estimating these adjustments to the transaction price, the Company reduces it sufficiently to be able to assert that it is probable that there will be no The Company stores its ALKINDI SPRINKLE®, Carglumic Acid, Betaine Anhydrous, Nisitinone, and PKU GOLIKE® inventory at its pharmacy distributor customer locations, and revenue is recorded when stock is pulled and shipped to fulfill specific orders. The Company may not Upon recognition of revenue from product sales, the estimated amounts of credit for product returns, chargebacks, distribution fees, prompt payment discounts, state Medicaid and GPO fees are included in sales reserves, accrued liabilities and net accounts receivable. As of September 30, 2024 December 31, 2023 Cost of Sales Cost of product sales consists of the profit-sharing and royalty fees with the Company’s product licensing and development partners, the purchase costs for finished products from third 3PL 3PL Cost of licensing revenue consists of the profit-sharing fees related to the Company’s product licensing and development partners. Research and Development Expenses Research and development (“R&D”) expenses include both internal R&D activities and external contracted services. Internal R&D activity expenses include salaries, benefits, stock-based compensation, and other costs to support the Company’s R&D operations. External contracted services include product development efforts such as certain product licensor milestone payments, clinical trial activities, manufacturing and control-related activities, and regulatory costs. R&D expenses are charged to operations as incurred. The Company reviews and accrues R&D expenses based on services performed and relies upon estimates of those costs applicable to the stage of completion of each project. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Upfront payments and milestone payments made for the licensing of products that are not Income Taxes As part of the process of preparing the Company’s financial statements, the Company must estimate the actual current tax liabilities and assess temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within the balance sheets. The Company must assess the likelihood that the deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not September 30, 2024 December 31, 2023 The Company recorded income tax benefit o f ($126) an zero three September 30, 2024 2023 f ($72) an zero nine September 30, 2024 2023 three September 30, 2024 zero three September 30, 2023. nine September 30, 2024 zero nine September 30, 2023 740 September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 not nine September 30, 2024 2023 In addition, under Sections 382 383 1986, 50% three may Income (Loss) Per Share Basic net income (loss) per share of common stock is computed by dividing net income (loss) attributable to common stockholders for the period by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders for the period by the weighted average number of common and common equivalent shares, such as unvested restricted stock, stock options, RSUs and warrants that are outstanding during the period. Common stock equivalents are excluded from the computation when their inclusion would be anti-dilutive. For the three September 30, 2024 2023 nine September 30, 2024 2023 Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC 718 718 The Company estimates the fair value of stock-based option awards using the Black-Scholes option-pricing model (“BSM”). The BSM requires the input of subjective assumptions, including the expected stock price volatility, the calculation of expected term, forfeitures and the fair value of the underlying common stock on the date of grant, among other inputs. The risk-free interest rate was determined from the implied yields for zero zero Fair Value Measurements We measure certain of our assets and liabilities at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value accounting requires characterization of the inputs used to measure fair value into a three Level 1 Level 2 Level 3 Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and debt obligation. The carrying amounts of these financial instruments approximate their fair values due to the short-term maturities of these instruments. Based on borrowing rates currently available to the Company, the carrying value of the debt obligation approximates its fair value. Impact of Recent Accounting Pronouncements In November 2023, No. 2023 07 December 15, 2023 2025, not one In December 2023, No. 2023 09, 2025,

Note 4 - Property and Equipment

Note 4 - Property and Equipment	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 4 – Property and Equipment Property and equipment consist of the following: September 30, December 31, 2024 2023 Computer hardware and software $ 187 $ 187 Furniture and fixtures 125 111 Equipment 52 52 Leasehold improvements 103 103 Construction in Progress — — 467 453 Less: accumulated depreciation (434 ) (395 ) Property and equipment, net $ 33 $ 58 Depreciation expense for the three September 30, 2024 2023 nine September 30, 2024 2023

Note 5 - Long-term Debt

Note 5 - Long-term Debt	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Long-Term Debt [Text Block]	Note 5 — Long-Term Debt SWK Loan In November 2019, second March 2020, August 2020. five 3 first twelve February 2022 February 15, 2022 three November 13, 2024 In connection with the initial $5,000 borrowed under the SWK Credit Agreement, the Company issued warrants to SWK to purchase 51,239 shares of the Company’s common stock with an exercise price of $5.86 per share. The relative fair value of these warrants was $226 and was estimated using BSM with the following assumptions: fair value of the Company’s common stock at issuance of $5.75 per share; seven In connection with the additional $2,000 borrowed in August 2020, seven In April 2022, May 2023 3 June 30, 2023, August 2023 In September 2024, December 31, 2024 October 2024 12 3 October 2024 no 12 September 30, 2024 In connection with the additional $25,695 to be borrowed at closing of the October 2024 seven Interest expense of $211 was recorded during the three September 30, 2024 three September 30, 2023 nine September 30, 2024 nine September 30, 2023 September 30, 2024 December 31, 2023 The table below reflects the future payments for the SWK loan principal and interest as of September 30, 2024 Amount Remainder of 2024 4,802 Less: amount representing interest (497 ) Loan payable, gross 4,305 Less: unamortized discount (180 ) Debt, net of unamortized discount $ 4,125

Note 6 - Common Stock

Note 6 - Common Stock	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Equity [Text Block]	Note 6 — Common Stock The Company has 50,000,000 authorized shares of $0.001 par value common stock under its Amended and Restated Certificate of Incorporation. During the nine September 30, 2024 2018 December 2020. June 2024 2018 8 July 2024 nine September 30, 2023 2018 8 nine September 30, 2023 June 2023 8

Note 7 - Common Stock Warrants

Note 7 - Common Stock Warrants	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Stockholders' Equity Note, Warrants or Rights Warrants Disclosure [TextBlock]	Note 7 — Common Stock Warrants The Company’s outstanding warrants to purchase shares of its common stock at September 30, 2024 Description of Warrants No. of Shares Exercise Price SWK Warrants – Debt – Tranche #1 51,239 $ 5.86 SWK Warrants – Debt – Tranche #2 18,141 $ 6.62 SWK Warrants – Debt – Tranche #3 289,736 $ 5.32 Total (Avg) 359,116 $ 5.46 The holders of these warrants or their permitted transferees, are entitled to rights with respect to the registration under the Securities Act of 1933, third not September 30, 2024 October 2024 5

Note 8 - Share-based Payment Aw

Note 8 - Share-based Payment Awards	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 8 — Share-Based Payment Awards The Company adopted the Eton Pharmaceuticals, Inc. 2017 “2017 2018 2018 December 2020 ( “2018 2017 2018 September 30, 2024 Share awards that expire, terminate, are surrendered, or canceled without having been fully exercised will be available for future awards under the 2018 2018 January 1, 2019 January 1, 2028, December 31, not To date, all stock options issued have been non-qualified stock options, and the exercise prices were set at the fair value for the shares at the dates of grant. Options typically have a ten The Company’s previous Chief Financial Officer had 474,295 employee stock options with an exercise price range of $1.37 to $8.61 which were set to expire three May 31, 2022; April 10, 2023. January March 2023, April 2023. No In August 2024, August 2024. 90 may November 2025 No three nine September 30, 2024, For the three nine September 30, 2024 2023 Stock Options The following table summarizes stock option activity during the nine September 30, 2024 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Yrs) Value Outstanding as of December 31, 2023 4,839,226 $ 4.57 Issued 1,511,118 $ 4.41 Exercised (2,500 ) $ 2.97 Forfeited/Cancelled (264,717 ) $ 4.61 Outstanding as of September 30, 2024 6,083,127 $ 4.53 7.2 $ 11,194 Exercisable as of September 30, 2024 4,060,340 $ 4.70 6.4 $ 7,448 Vested and expected to vest at September 30, 2024 6,083,127 $ 4.53 7.2 $ 11,194 Note 8 — Share-Based Payment Awards (continued) The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock at September 30, 2024 Stock-based compensation related to stock options was $559 and $639 for the three September 30, 2024 2023 nine September 30, 2024 2023 September 30, 2024 nine September 30, 2024 nine September 30, 2024 Restricted Stock Units (RSUs) The following table summarizes restricted stock unit activity during the nine September 30, 2024 Number of Units Weighted Average Grant-Date Fair Value Per Unit Outstanding and unvested as of December 31, 2023 274,204 $ 2.63 Granted — $ — Vested (90,402 ) $ — Forfeited (23,000 ) $ — Outstanding and unvested as of September 30, 2024 160,802 $ 2.63 Stock-based compensation related to RSUs was $171 and $179 for the nine September 30, 2024 2023 September 30, 2024 Employee Stock Purchase Plan The Company’s 2018 January 1 December 31 September 30, 2024 The annual offerings consist of two first June second December. 1 first 2 twelve two six six twelve twelve For the nine September 30, 2024 2023 first nine 2024 2023 three nine September 30, 2024 2023 nine September 30, 2024 2023 September 30, 2024 December 31, 2023

Note 9 - Related-party Transact

Note 9 - Related-party Transactions	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 9 — Related-Party Transactions Chief Executive Officer The CEO has a partial interest in a company that the Company had partnered with for its EM- 100/Alaway® The Company acquired the exclusive rights to sell the EM- 100 August 11, 2017, first ten two On February 18, 2019, 100, two one first one first first September 30, 2024 100 February 18, 2019, twelve September 2020, no September 30, 2024 March 24, 2023. The CEO has a partial interest in a company that the Company has entered into an agreement with as described below. Previously, the Company acquired DS- 200 June 23, 2017 August 30, 2024, 200 August 2024 ( 11 200 200 September 30, 2024

Note 10 - Leases

Note 10 - Leases	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 10 — Leases The Company recognizes a right-of-use (“ROU”) asset and a lease liability on the balance sheet for substantially all leases, including operating leases, and separates lease components from non-lease components related to its office space lease. In June 2024, two March 2027 The Company’s operating lease cost as presented as G&A in the condensed statements of operations was $61 for the nine September 30, 2024 nine September 30, 2023 nine September 30, 2024 nine September 30, 2023 nine September 30, 2024 2023 September 30, 2024 The table below presents the lease-related assets and liabilities recorded on the balance sheet as of September 30, 2024 Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets, net $ 193 Total leased assets $ 193 Liabilities Operating lease liabilities, current Accrued liabilities $ 75 Operating lease liabilities, noncurrent Operating lease liabilities, net of current portion $ 126 Total operating lease liabilities $ 201 The Company’s future lease commitments as of September 30, 2024 Operating Lease Liabilities 2024 (remainder of 2024) 23 2025 89 2026 90 2027 23 Undiscounted lease payments 225 Less: Imputed interest (24 ) Total operating lease liabilities $ 201

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 11 — Commitments and Contingencies Legal The Company is subject to legal proceedings and claims that may not License and product development agreements The Company has entered into various agreements in addition to those discussed above which are described below. The three three 2021, three June 2023 In March 2020, September 2020, For the initial licensing milestone fee, the Company paid Diurnal $3,500 in cash and issued 379,474 shares of its common stock to Diurnal which were valued at $1,264 based on the Company’s closing stock price of $3.33 on March 26, 2020. 2023 January 2024 December 2023, In June 2021, March 2022 In October 2021, October 12, 2021. December 2021. Note 11 — Commitments and Contingencies (continued) In September 2022, January 2022. November 2023, In March 2023, 600 July 2023 first In October 2023, May 2023. In March 2024, In August 2024, 200 200. Indemnification As permitted under Delaware law and in accordance with the Company’s Amended and Restated Bylaws, the Company is required to indemnify its officers and directors for certain events or occurrences while the officer or director is or was serving in such capacity. The Company is also party to indemnification agreements with its directors and officers. The Company believes the fair value of the indemnification rights and agreements is minimal. Accordingly, the Company has not September 30, 2024 December 31, 2023

Note 12 - Subsequent Events

Note 12 - Subsequent Events	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	Note 12 — Subsequent Events On October 2, 2024, 1 not 1 1 40 Under the terms of the Purchase Agreement, the Company will purchase Increlex® for $22.5 million at closing and will pay an additional $7.5 million for product inventory. The Company will also make payments to Seller of $2.5 million on each of the first second 30 not €15.0 The acquisition is structured as an all-cash purchase without any financing contingencies (see Note 5 2024, six

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. Rule 10b 5 1 three September 30, 2024 no 10b5 1 10b5 1 408
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 3 - Summary of Significa_2

Note 3 - Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Amortization Year Expense Remainder of 2024 $ 266 2025 1,067 2026 1,067 2027 943 2028 609 Thereafter 1,902 Total estimated amortization expense $ 5,854

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2024 2023 Computer hardware and software $ 187 $ 187 Furniture and fixtures 125 111 Equipment 52 52 Leasehold improvements 103 103 Construction in Progress — — 467 453 Less: accumulated depreciation (434 ) (395 ) Property and equipment, net $ 33 $ 58

Note 5 - Long-term Debt (Tables

Note 5 - Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2024
SWK Credit Agreement [Member]
Notes Tables
Schedule of Maturities of Long-Term Debt [Table Text Block]	Amount Remainder of 2024 4,802 Less: amount representing interest (497 ) Loan payable, gross 4,305 Less: unamortized discount (180 ) Debt, net of unamortized discount $ 4,125

Note 7 - Common Stock Warrants

Note 7 - Common Stock Warrants (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Description of Warrants No. of Shares Exercise Price SWK Warrants – Debt – Tranche #1 51,239 $ 5.86 SWK Warrants – Debt – Tranche #2 18,141 $ 6.62 SWK Warrants – Debt – Tranche #3 289,736 $ 5.32 Total (Avg) 359,116 $ 5.46

Note 8 - Share-based Payment _2

Note 8 - Share-based Payment Awards (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Yrs) Value Outstanding as of December 31, 2023 4,839,226 $ 4.57 Issued 1,511,118 $ 4.41 Exercised (2,500 ) $ 2.97 Forfeited/Cancelled (264,717 ) $ 4.61 Outstanding as of September 30, 2024 6,083,127 $ 4.53 7.2 $ 11,194 Exercisable as of September 30, 2024 4,060,340 $ 4.70 6.4 $ 7,448 Vested and expected to vest at September 30, 2024 6,083,127 $ 4.53 7.2 $ 11,194
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Number of Units Weighted Average Grant-Date Fair Value Per Unit Outstanding and unvested as of December 31, 2023 274,204 $ 2.63 Granted — $ — Vested (90,402 ) $ — Forfeited (23,000 ) $ — Outstanding and unvested as of September 30, 2024 160,802 $ 2.63

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Lessee, Operating Lease, Disclosure [Table Text Block]	Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets, net $ 193 Total leased assets $ 193 Liabilities Operating lease liabilities, current Accrued liabilities $ 75 Operating lease liabilities, noncurrent Operating lease liabilities, net of current portion $ 126 Total operating lease liabilities $ 201
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Operating Lease Liabilities 2024 (remainder of 2024) 23 2025 89 2026 90 2027 23 Undiscounted lease payments 225 Less: Imputed interest (24 ) Total operating lease liabilities $ 201

Note 2 - Liquidity Considerat_2

Note 2 - Liquidity Considerations (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents, at Carrying Value	$ 20,261	$ 21,388

Note 3 - Summary of Significa_3

Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	1 Months Ended				3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2024	Oct. 31, 2023	Sep. 30, 2022	Nov. 30, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss					$ 229		$ 229		$ 129
Inventory Valuation Reserves					72		72		76
Payments to Acquire Intangible Assets							1,868	$ 0
Finite-Lived Intangible Assets, Accumulated Amortization					2,039		2,039
Amortization of Intangible Assets					267		753
Impairment, Long-Lived Asset, Held-for-Use							0
Finance Lease, Liability					0		0
Medicaid Liability					8,047		$ 8,047		3,627
Percentage for Valuation Reserve Against Deferred Tax Assets							100%
Income Tax Expense (Benefit)					$ (126)	$ 0	$ (72)	$ 0
Effective Income Tax Rate Reconciliation, Percent					(25.10%)	0%	2.40%	0%
Unrecognized Tax Benefits					$ 0		$ 0
Income Tax Examination, Penalties and Interest Accrued					$ 0		0		0
Income Tax Examination, Penalties and Interest Expense							$ 0		$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)					4,896,038	5,618,663	6,319,907	4,821,906
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | AnovoRx [Member]
Concentration Risk, Percentage							93.60%	72.90%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | AnovoRx [Member]
Concentration Risk, Percentage							98.50%		97.40%
Carglumic Acid Product Rights [Member]
Payments to Acquire Intangible Assets				$ 3,250
Finite-Lived Intangible Asset, Useful Life (Year)				10 years
Betaine Anhydrous Product Rights [Member]
Payments to Acquire Intangible Assets			$ 2,125
Finite-Lived Intangible Asset, Useful Life (Year)			5 years
Nitisinone Product Rights [Member]
Payments to Acquire Intangible Assets		$ 650
Finite-Lived Intangible Asset, Useful Life (Year)		5 years
PKU GoLike [Member]
Payments to Acquire Intangible Assets	$ 1,868
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)					3 years		3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life (Year)					5 years		5 years

Note 3 - Summary of Significa_4

Note 3 - Summary of Significant Accounting Policies - Schedule of Intangible Assets Amortization Expense (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Remainder of 2024	$ 266
2025	1,067
2026	1,067
2027	943
2028	609
Thereafter	1,902
Total estimated amortization expense	$ 5,854

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Depreciation	$ 12	$ 9	$ 38	$ 32

Note 4 - Property and Equipme_4

Note 4 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Computer hardware and software	$ 187	$ 187
Furniture and fixtures	125	111
Equipment	52	52
Leasehold improvements	103	103
Construction in Progress	0	0
Property, Plant and Equipment, Gross	467	453
Less: accumulated depreciation	(434)	(395)
Property and equipment, net	$ 33	$ 58

Note 5 - Long-term Debt (Detail

Note 5 - Long-term Debt (Details Textual) $ / shares in Units, $ in Thousands					1 Months Ended				3 Months Ended		6 Months Ended	9 Months Ended		33 Months Ended
	Apr. 05, 2022	Nov. 13, 2020 USD ($)	Nov. 30, 2019 USD ($) $ / shares shares	Nov. 13, 2019 USD ($)	Oct. 31, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares	Aug. 31, 2020 USD ($) $ / shares shares	Nov. 30, 2019 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($)	Jun. 30, 2023	Sep. 30, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($)	Nov. 13, 2024	Dec. 31, 2023 USD ($) $ / shares	Mar. 31, 2020 USD ($)
Long-Term Debt, Gross						$ 4,305			$ 4,305			$ 4,305
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares						$ 0.001			$ 0.001			$ 0.001			$ 0.001
Long-Term Debt, Current Maturities						$ 4,125			$ 4,125			$ 4,125			$ 5,380
Interest Expense, Operating and Nonoperating									211	$ 267		672	$ 805
Amortization of Debt Discount (Premium)									22	$ 29		70	$ 90
Interest Payable, Current						408			408			408			$ 332
SWK Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares			51,239				18,141	51,239
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares			$ 5.86				$ 6.62	$ 5.86
Fair Value Adjustment of Warrants							$ 94	$ 226
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares			$ 5.75				$ 6.85	$ 5.75
Warrants and Rights Outstanding, Term (Year)			7 years				7 years	7 years
SWK Warrants [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input			95				95	95
SWK Warrants [Member] | Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input			0				0	0
SWK Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input			1.8				0.4	1.8
SWK Credit Agreement [Member] | SWK Holdings Corporation [Member]
Debt Instrument, Face Amount				$ 10,000
Proceeds from Issuance of Debt			$ 5,000	5,000
Debt Instrument, Covenant Agreement, Additional Amount				$ 5,000
Debt Instrument, Term (Year)				5 years
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		2%
Debt Instrument, Exit Fee as a Percentage of Outstanding Amounts		5%
SWK Credit Agreement [Member] | SWK Holdings Corporation [Member] | Scenario, Plan [Member]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed														5.50%
SWK Credit Agreement [Member] | SWK Holdings Corporation [Member] | London Interbank Offered Rate (LIBOR) 1 [Member]
Debt Instrument, Basis Spread on Variable Rate				10%
Debt Instrument, LIBOR Floor Rate				2%
The Amended Agreement [Member] | SWK Holdings Corporation [Member]
Proceeds from Issuance of Debt							$ 2,000
Debt Instrument, Covenant Agreement, Additional Amount		$ 3,000
Long-Term Debt, Gross																$ 2,000
Debt Instrument, Basis Spread on Variable Rate	8%
Debt Instrument, LIBOR Floor Rate	2%
Warrants and Rights Outstanding, Term (Year)					7 years
Line Of Credit Facility, Additional Borrowing Capacity						25,695
Long-Term Debt, Current Maturities						$ 4,125			$ 4,125			$ 4,125
The Amended Agreement [Member] | SWK Holdings Corporation [Member] | Subsequent Event [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares					289,736
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares					$ 5.32
Line Of Credit Facility, Additional Borrowing Capacity					$ 25,695
Line of Credit Facility, Maximum Borrowing Capacity					$ 30,000
The Amended Agreement [Member] | SWK Holdings Corporation [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate											8.26%
Debt Instrument SOFR Floor Rate											5%
The Amended Agreement [Member] | SWK Holdings Corporation [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate					6.75%
Debt Instrument SOFR Floor Rate					5%

Note 5 - Long-term Debt - Sched

Note 5 - Long-term Debt - Schedule of Future Payments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Remainder of 2024	$ 4,802
Less: amount representing interest	(497)
Long-Term Debt, Gross	4,305
Less: unamortized discount	(180)
Debt, net of unamortized discount	$ 4,125	$ 5,380

Note 6 - Common Stock (Details

Note 6 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			9 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Common Stock, Shares Authorized (in shares)				50,000,000		50,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001		$ 0.001
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)				2,500
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)		55,240	57,616
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in shares)	90,402
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)					50,867
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation					$ 181
The Two Thousand Eighteen Equity Incentive Plan Member
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)				2,500	298,528

Note 7 - Common Stock Warrant_2

Note 7 - Common Stock Warrants - Schedule of Warrants Outstanding (Details)	Sep. 30, 2024 $ / shares shares
Outstanding (in shares) | shares	359,116
Weighted Average [Member]
Exercise Price (in dollars per share) | $ / shares	$ 5.46
SWK Warrants – Debt – Tranche #1 [Member]
Outstanding (in shares) | shares	51,239
Exercise Price (in dollars per share) | $ / shares	$ 5.86
SWK Warrants – Debt – Tranche #2 [Member]
Outstanding (in shares) | shares	18,141
Exercise Price (in dollars per share) | $ / shares	$ 6.62
SWK Warrants – Debt – Tranche #3 [Member]
Outstanding (in shares) | shares	289,736
Exercise Price (in dollars per share) | $ / shares	$ 5.32

Note 8 - Share-based Payment _3

Note 8 - Share-based Payment Awards (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended			3 Months Ended			9 Months Ended
	Dec. 31, 2018	Aug. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	May 30, 2017
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)					6,083,127			6,083,127		4,839,226
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)								2,500
Share-Based Payment Arrangement, Expense					$ 2,383	$ 2,387		$ 2,383	$ 2,387
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount					$ 5,266			$ 5,266
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)								$ 2.94
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)								$ 2.97
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value								$ 2
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)			55,240	57,616
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expense								2,138	2,191
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expense								$ 245	196
Chief Financial Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)					474,295			474,295
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share)								$ 1.37
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share)								$ 8.61
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)							365,858
Senior Executive [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share)		$ 3.47
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share)		$ 8.61
Senior Executive [Member] | General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expense					$ 75			$ 75
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)								10 years
Share-Based Payment Arrangement, Expense					559	$ 639		$ 1,991	2,115
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Expense								171	179
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount					$ 376			$ 376
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)								1 year 9 months 18 days
The 2017 Plan [Member] | Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)											5,000,000
The 2018 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)					470,511			470,511
Share-based Compensation Arrangement by Share-based Payment Award, Annual Increase in Share Reserve as a Percent of Outstanding Common Stock								4%
The 2018 Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)					718,274			718,274
Share-Based Payment Arrangement, Expense								$ 145	$ 93
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)								$ 1.34	$ 1.22
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	150,000
Common Stock, Capital Shares Reserved for Future Issuance, Percentage Increase	1%
Common Stock, Capital Shares Reserved for Future Issuance, Increase (in shares)	150,000
Employee Stock Purchase Plans, Fair Value of Common Stock Price Per Share on Offering Date, Percentage	85%
Employee Stock Purchase Plans, Fair Value of Common Stock Price Per Share on Purchase Date, Percentage	85%
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)								55,240	57,616
Employee Stock Purchase Plan (ESPP), Cash Contributions to ESPP								$ 209	$ 181
Employee-related Liabilities, Current										$ 24
The 2018 Employee Stock Purchase Plan [Member] | Accrued Liabilities [Member]
Employee-related Liabilities, Current					$ 48			$ 48

Note 8 - Share-based Payment _4

Note 8 - Share-based Payment Awards - Schedule of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Balance, Options (in shares) | shares	4,839,226
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 4.57
Issued, Options (in shares) | shares	1,511,118
Issued, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 4.41
Exercised, Options (in shares) | shares	(2,500)
Exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 2.97
Forfeited/Cancelled, Options (in shares) | shares	(264,717)
Forfeited/Cancelled, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 4.61
Balance, Options (in shares) | shares	6,083,127
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 4.53
Outstanding, Weighted Average Remaining Contractual Term (Year)	7 years 2 months 12 days
Outstanding, Aggregate Intrinsic Value | $	$ 11,194
Exercisable, Options (in shares) | shares	4,060,340
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 4.7
Exercisable, Weighted Average Remaining Contractual Term (Year)	6 years 4 months 24 days
Exercisable, Aggregate Intrinsic Value | $	$ 7,448
Vested and expected to vest, Options (in shares) | shares	6,083,127
Vested and expected to vest, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 4.53
Vested and expected to vest, Weighted Average Remaining Contractual Term (Year)	7 years 2 months 12 days
Vested and expected to vest at September 30, 2024 | $	$ 11,194

Note 8 - Share-based Payment _5

Note 8 - Share-based Payment Awards -Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Outstanding and unvested, balance (in shares) | shares	274,204
Outstanding and unvested, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 2.63
Granted (in shares) | shares	0
Granted, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 0
Vested (in shares) | shares	(90,402)
Vested, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 0
Forfeited (in shares) | shares	(23,000)
Forfeited, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 0
Outstanding and unvested, balance (in shares) | shares	160,802
Outstanding and unvested, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 2.63

Note 9 - Related-party Transa_2

Note 9 - Related-party Transactions (Details Textual) - USD ($) $ in Thousands					1 Months Ended	9 Months Ended
	Aug. 31, 2024	Aug. 30, 2024	Feb. 18, 2019	Aug. 11, 2017	Aug. 31, 2024	Sep. 30, 2024
Messa Holdings LLC [Member]
Equity Method Investment, Ownership Percentage						50%
DS-200 [Member] | Selenix [Member]
Commitment, Allocation of Profits, Percentage	45%	50%			45%
Related Party, Eyemax LLC [Member] | The Eyemax Agreement [Member]
Related Party Transaction, Terms (Year)				10 years
Related Party Transaction, Terms, Renewal (Year)				2 years
Related Party, Eyemax LLC [Member] | The Eyemax Agreement [Member] | Royalty [Member]
Related Party Transaction, Rate				10%
Related Party, Eyemax LLC [Member] | The Eyemax Agreement [Member] | Research and Development Expense [Member]
Related Party Transaction, Amounts of Transaction				$ 250
Related Party, Eyemax LLC [Member] | Covenant Based on Sale of First Commercial Product [Member]
Related Party Transaction, Amounts of Transaction				$ 500
Related Party, Eyemax LLC [Member] | The Amended Agreement [Member]
Related Party Transaction, Amounts of Transaction						$ 0
Revenues						$ 1,840
Related Party, Eyemax LLC [Member] | The Amended Agreement [Member] | Covenant Based on Approval by The FDA [Member]
Related Party Transaction, Amounts of Transaction			$ 250
Related Party, Eyemax LLC [Member] | The Amended Agreement [Member] | Covenant Based on Sale of First Commercial Product [Member]
Related Party Transaction, Amounts of Transaction			$ 500
Related Party, Bausch Health [Member] | Royalty [Member]
Related Party Transaction, Rate			12%
Chief Executive Officer [Member] | Sean E. Brynjelsen [Member]
Subsidiary, Ownership Percentage, Parent						100%
Related Party [Member]
Other Liabilities, Current						$ 220

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Operating Lease, Right-of-Use Asset	$ 193		$ 92
Operating Lease, Liability	201
Operating Lease, Cost	61	$ 57
Operating Lease, Payments	35	66
Operating Lease, Right-of-Use Asset, Periodic Reduction	$ 53	$ 50
Operating Lease, Weighted Average Remaining Lease Term (Year)	2 years 6 months
Lessee, Operating Lease, Discount Rate	8.60%
Renewed Office Lease [Member]
Lessee, Operating Lease, Term of Contract (Year)	2 years
Operating Lease, Right-of-Use Asset	$ 219
Operating Lease, Liability	$ 219

Note 10 - Leases - Schedule of

Note 10 - Leases - Schedule of Lease-related Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Liabilities, Current [Abstract]
Other Accrued Liabilities, Current	$ 4,878	$ 5,386
Operating Lease, Right-of-Use Asset	$ 193	92
Liabilities
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Accrued Liabilities, Current
Operating lease liabilities, current	$ 75
Operating lease liabilities, noncurrent	126	$ 22
Total operating lease liabilities	$ 201

Note 10 - Leases - Schedule o_2

Note 10 - Leases - Schedule of Future Lease Payments (Details) $ in Thousands	Sep. 30, 2024 USD ($)
2024 (remainder of 2024) Operating Lease Liability	$ 23
2025, Operating Lease Liability	89
2026	90
2027	23
Total	225
Less: Imputed interest	(24)
Total operating lease liabilities	$ 201

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual) - USD ($)

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Aug. 31, 2024

Aug. 30, 2024

Sep. 13, 2022

Oct. 28, 2021

Jun. 15, 2021

Mar. 26, 2020

Aug. 31, 2024

Mar. 31, 2024

Nov. 30, 2023

Oct. 31, 2023

Jul. 31, 2023

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Mar. 14, 2023

Mar. 27, 2020

Research and Development Expense, Total

$ 505,000

$ 615,000

$ 4,126,000

$ 2,275,000

Payments to Acquire Intangible Assets

1,868,000

$ 0

Indemnification Rights and Agreements [Member]

Other Commitment, Total

$ 0

0

$ 0

Common Stock [Member]

Share Price (in dollars per share)

$ 3.33

Carglumic Acid Tablets [Member]

Payments to Acquire Marketing Rights

$ 3,250,000

Commitment, Allocation of Profits, Percentage

50%

Betaine Anhydrous [Member]

Payments to Acquire Marketing Rights

$ 2,000,000

$ 125,000

Commitment, Allocation of Profits, Percentage

65%

Betaine Anhydrous [Member] | Obligation Based on Commercial Success [Member]

Other Commitment, Total

$ 1,000,000

FDA-Approved ANDA For Nitisinone [Member]

Payments to Acquire Marketing Rights

$ 150,000

Commitment, Allocation of Profits, Percentage

80%

FDA-Approved ANDA For Nitisinone [Member] | Obligation Based on Acceptance of FDA of NDA for product [Member]

Payments to Acquire Marketing Rights

$ 500,000

PKU GoLike [Member]

Other Commitment, Total

$ 2,000,000

Royalty on Net Sales of Products, Percent

30%

Payments to Acquire Marketing Rights

$ 2,350,000

PKU GoLike [Member] | Licensing Agreements [Member]

Payments to Acquire Intangible Assets

1,868,000

PKU GoLike [Member] | Inventories [Member]

Payments to Acquire Marketing Rights

$ 482,000

Azurity Pharmaceuticals, Inc. (“Azurity”) [Member]

Revenue, Additional Based on Event and Sales-based Milestones Achievements

$ 5,500,000

Azurity Pharmaceuticals, Inc. (“Azurity”) [Member] | Milestone Method [Member]

Revenues

$ 27,500,000

Diurnal Limited [Member] | Exclusive Licensing and Supply Agreement (the “Alkindi License Agreement”) [Member]

Aggregate Value of Licensing Milestone Included in Research and Development Expense

$ 1,000,000

Diurnal Limited [Member] | Exclusive Licensing and Supply Agreement (the “Alkindi License Agreement”) [Member] | Obligation Based on Exclusivity Status from FDA [Member]

Other Commitment, Total

$ 2,500,000

Diurnal Limited [Member] | Exclusive Licensing and Supply Agreement (the “Alkindi License Agreement”) [Member] | Common Stock [Member]

Stock Issued During Period, Shares, New Issues (in shares)

379,474

Stock Issued During Period, Value, New Issues

$ 1,264,000

Diurnal Limited [Member] | License [Member] | Exclusive Licensing and Supply Agreement (the “Alkindi License Agreement”) [Member]

Commitment, Milestone Fee

$ 3,500,000

Crossject [Member] | U.S. and Canadian rights to Crossject S.A.’s [Member]

Research and Development Expense, Total

$ 500,000

Royalty on Net Sales of Products, Percent

10%

Crossject [Member] | U.S. and Canadian rights to Crossject S.A.’s [Member] | Obligation Based on Development Milestones [Member]

Other Commitment, Total

$ 3,500,000

Crossject [Member] | U.S. and Canadian rights to Crossject S.A.’s [Member] | Obligation Based on Commercial Success [Member]

Other Commitment, Total

$ 6,000,000

Tulex Pharmaceuticals, Inc. (“Tulex”) [Member] | Obligation Based on Successful Manufacturing of Registration Batches [Member]

Other Commitment, Total

$ 450,000

Tulex Pharmaceuticals, Inc. (“Tulex”) [Member] | Obligation Based on Acceptance of FDA of NDA for product [Member]

Other Commitment, Total

$ 200,000

Royalties, Percentage of Net Sales,

12.50%

Tulex Pharmaceuticals, Inc. (“Tulex”) [Member] | Obligation Based on First Commercial Sale of Product [Member]

Other Commitment, Total

$ 250,000

Royalties, Percentage of Net Sales,

17%

Selenix [Member] | DS-200 [Member]

Revenue, Additional Based on Event and Sales-based Milestones Achievements

$ 6,500

Commitment, Allocation of Profits, Percentage

45%

50%

45%

Proceeds From Up-front Payment

$ 500

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) - Increlex [Member] € in Millions, $ in Millions				30 Months Ended
	Oct. 02, 2026 USD ($)	Oct. 02, 2025 USD ($)	Oct. 02, 2024 USD ($)	Apr. 02, 2027 EUR (€)
Forecast [Member]
Payments to Acquire Marketing Rights	$ 2.5	$ 2.5
Inventories [Member] | Forecast [Member] | Maximum [Member]
Payments to Acquire Marketing Rights | €				€ 15
Subsequent Event [Member]
Payments to Acquire Marketing Rights			$ 22.5
Subsequent Event [Member] | Inventories [Member]
Payments to Acquire Marketing Rights			$ 7.5