Positive context积极背景
Stocks股票 / Health Care / ETON
Eton Pharmaceuticals Inc · Health Care
ETON US listed · USD美股 · 美元
Health Care
Russell 2000罗素2000
Speculative / unprofitable投机／未盈利
$57.68
-$1.81 · -3.04%
52w low52周低 $14.07high高 $66.67
Extended — wait for a pullback过度拉伸 — 等待回撤
Daily low forming, but the bigger trend is still bearish. Small size only; stop below 54.93.日线低点正在形成，但大趋势仍偏空。只适合小仓位；止损设于 54.93 下方。
As of 2026-09-28截至 2026-09-28
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
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Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-09-28
Momentum (RSI 14)动量（RSI 14）
53
Neutral zone中性区域
vs 50-day average相对50日均线
+8.1% above上方
Uptrend intact趋势完好
vs 200-day average相对200日均线
+85.3% above上方
Long trend up长期向上
Volatility波动率
37th percentile第37百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
next report下次财报 2026-11-0538
Mixed — beat 1 of last 4 quarters表现不稳 — 近 4 季中 1 季超预期
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 -11.0%
Financials财务数据
fiscal years财年Revenue营业收入
$80.0M2025
20202025
5-yr growth5年复合增速 359.6%
Earnings per share每股收益
$-0.082021
20202025
Free cash flow自由现金流
$10.2M2025
20202025
Gross margin毛利率
53.5%
Operating margin营业利润率
-1.1%
Net margin净利率
-5.8%
FCF margin自由现金流利润率
13.2%
Balance-sheet quality财务体质 5/9
Return on equity股本回报率 -18%
Watch关注
Leverage杠杆
Net debt / EBITDA净债务/EBITDA1.44
Current ratio流动比率1.57
Capital allocation资本配置
Stock-based comp股权薪酬$5.5M
Share count change (1y)股数变化（1年）+1.3%
Debt coming due到期债务
FY2023 10-KIn the 12-month bucket following fiscal period end 2023-12-31, it reported $6.5M due — about 100% of its disclosed principal.在财年期末 2023-12-31 之后12个月的区间内，已披露到期本金为 $6.5M，约占其披露本金的 100%。
All maturity buckets are measured from fiscal period end 2023-12-31, not from today.所有到期区间均从财年期末 2023-12-31 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
$6.5M
Year 2第2年
not reported未披露
Year 3第3年
not reported未披露
Year 4第4年
not reported未披露
Year 5第5年
not reported未披露
After year 55年以后
not reported未披露
Cash reported at 2025-12-31: $25942000.截至 2025-12-31 披露的现金：$25942000。 Operating cash flow exceeded or equaled equipment spending over 2025-01-01 to 2025-12-31; no cash burn to measure.在 2025-01-01 至 2025-12-31 期间，经营现金流不低于设备支出，无可衡量的现金消耗。
Capital-need coverage is partial; incomplete or incompatible filing inputs are not combined.资本需求覆盖信息不完整；不会合并不完整或不兼容的报告数据。
Any available cash-flow scenario is context only. Missing or incompatible inputs are not replaced with zero or a financing forecast.可用现金流情景仅供参考；缺失或不兼容的输入不以零值或融资预测替代。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001437749-24-007853, period ending报告期截至 2023-12-31, unit单位 USD.
Cache acquired缓存获取时间: 2026-09-24T08:02:02.790068+00:00.
1/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive— absent
Annual period年度区间 2025-01-01 — 2025-12-31 · USD · 10-K · 0001437749-26-009059 · Filed提交日期 2026-03-19.
Cache acquired缓存获取时间: 2026-09-24T08:02:02.790068+00:00 · Evaluated as of评估截至 2026-09-29.
- Reported operating cash flow已披露经营活动现金流: $10524000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $333000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $10191000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
ETON StochRSI turned up from oversoldETON StochRSI自超卖区上行
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$8.7M net (0 buyers, 3 sellers)-$8.7M 净值（0 买家，3 卖家）
Concentrated ownership集中持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | As of截至 |
|---|---|---|---|---|
| Polen Capital Management | C | Adding加仓 | 0.0% | 2026-06-30 |
Signal history信号历史
engine events引擎事件
NEARING A HIGH → UNCONFIRMED TURN接近高点 → 未确认转向
HIGH-RISK · NIMBLE ONLY. A daily bottoming setup is forming (swing low in, momentum turned up) — but the higher timeframes haven't confirmed it: the bigger picture is still bearish (weekly momentum positive; but rolling toward a weekly cross-down; 3-day crossed down; investor cycle overdue). This is an UNCONFIRMED TURN, not a confirmed buy. Weekly confirmation lags price, so this exact reading covers BOTH bounces that fail AND the first leg of a genuine new cycle — you can't tell which in real time, so treat it as a risk/size signal, not a direction call. Measured: weekly-unconfirmed bottoming setups held the low ~49% of the time vs ~68% once the weekly turns up高风险 · 仅限灵活操作。正在形成日线筑底形态（摆动低点已现、动量转向上行）——但更高周期尚未确认：大局仍偏空（周线动量为正；但正趋向周线向下交叉；3 日线向下交叉；投资者周期已逾期）。这是「未确认转向」，并非已确认的买入。周线确认滞后于价格，因此同样的读数既涵盖最终失败的反弹，也涵盖真正新周期的第一段——实时无法判定属于哪一种，故应将其视为风险/仓位信号，而非方向判断。实测：周线未确认的筑底形态约 49% 守住低点，周线转向后升至约 68%
Sep 24, 2026
ETON StochRSI turned up from oversoldETON StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $59.49.StochRSI重回20上方 — 下行动量趋缓的最早预警。$59.49。
Sep 17, 2026
BOTTOMING → UNCONFIRMED TURN筑底中 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Sep 3, 2026
UPTREND → BOTTOMING上涨趋势 → 筑底中
BUY SETUP买入预备
Aug 31, 2026
ETON daily MACD crossed downETON 日线MACD下穿
The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $60.44.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$60.44。
Aug 28, 2026
NEARING A HIGH → NEARING A LOW接近高点 → 接近低点
GET READY准备
Aug 21, 2026
ETON made a new 52-week highETON 创52周新高
Price reached a fresh 52-week high — a momentum / trend extreme the whole market watches. $63.47.价格创出52周新高 — 全市场关注的动量/趋势极值。$63.47。
Aug 14, 2026
BOTTOMING → NEARING A HIGH筑底中 → 接近高点
TAKE PROFITS止盈
Aug 14, 2026
ETON took relative-strength leadershipETON 取得相对强弱领先
Relative strength vs SPY crossed above the 90th percentile of the last 90 days — leadership tends to persist. $58.86.相对标普500的强弱上穿近90日的第90百分位 — 领先往往延续。$58.86。
Aug 14, 2026
ETON made a new 52-week highETON 创52周新高
Price reached a fresh 52-week high — a momentum / trend extreme the whole market watches. $58.86.价格创出52周新高 — 全市场关注的动量/趋势极值。$58.86。
Aug 14, 2026
ETON daily MACD crossed upETON 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $58.86.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$58.86。
Aug 14, 2026
ETON StochRSI turned up from oversoldETON StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $58.86.StochRSI重回20上方 — 下行动量趋缓的最早预警。$58.86。
Aug 14, 2026
ETON RSI reached overboughtETON RSI进入超买
RSI(14) crossed above 70 — stretched to the upside; context, not a timing trigger alone. $58.86.RSI(14)上穿70 — 上行过度；仅作背景，单独不构成择时。$58.86。
Showing the last 15 of显示最近15条，共 171 signals条信号
Company profile公司档案
Watch items — what could change the story关注项 — 可能改变故事的因素
- Margin compression despite revenue growth
- Receivables stretch
- Capital intensity rising
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | +3.9% | +1.3% |
| 1 Month近1月 | -7.9% | +0.9% |
| 3 Months近3月 | +61.6% | +6.1% |
| 6 Months近6月 | +148.2% | +22.3% |
| Year to date年初至今 | +254.7% | +13.8% |
| 1 Year近1年 | +186.4% | +18.5% |
Trading information交易信息
Volatility rank波动率分位
37th pctile
EPS (trailing)每股收益
$-0.17
Off 52-week high距52周高点
-10.5%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $39,000 | $22M | $21M | $32M | $39M | $80M |
| EPS每股收益 | $-1.33 | $-0.08 | — | — | — | — |
| Free cash flow自由现金流 | $-22M | $-5M | $5M | $7M | $943,000 | $10M |
| Gross margin毛利率 | -633.3% | 88.0% | 67.4% | 66.6% | 60.0% | 53.5% |
| Net margin净利率 | -71717.9% | -9.0% | -42.4% | -3.0% | -9.8% | -5.8% |
| FCF margin自由现金流利润率 | -57425.6% | -21.7% | 22.5% | 21.5% | 2.4% | 12.7% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$80M
Gross profit毛利润
$43M
Net income净利润
$-5M
Operating cash flow经营现金流
$11M
Total assets总资产
$92M
Shareholder equity股东权益
$26M
Long-term debt长期负债
$22M
Shares outstanding总股本
0.03B
Returns & growth回报与增长
Return on equity股本回报率
-17.6%
Return on assets资产回报率
-5.0%
Debt / assets负债/资产
23.6%
Asset growth资产增速
+21.0%
Accounting quality checks会计质量检查
- Earnings quality: accruals trending up over 6 fiscal years — earnings increasingly not cash-backed盈利质量：应计利润在 6 个财年间走高——盈利的现金支撑减弱
- Working capital: inventory & receivables lean vs sales营运资本：存货与应收相对销售保持精简
- Pricing power: gross margin +686.8pts over 6 years定价能力：毛利率 6 年上升 686.8 个百分点
- Capital discipline: share count +11.2% over 6 years (dilution)资本纪律：股本 6 年增加 11.2%（稀释）
- Balance sheet: leverage unremarkable资产负债表：杠杆水平一般
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
53
RSI (2-day)RSI（2日）
49
vs 20-day average相对20日均线
-0.6%
vs 50-day average相对50日均线
+8.1%
vs 200-day average相对200日均线
+85.3%
Golden cross (50>200)金叉（50>200）
in effect生效中
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down — turning up soon动能向下——接近转强
3-day3日线
momentum down — fresh downturn动能向下——刚刚转弱
Weekly周线
momentum up动能向上
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range width percentile波幅宽度分位
16/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Jun 2026 | $0.35 | $0.11 | +218.2% |
| Mar 2026 | $0.05 | $0.10 | -50.0% |
| Dec 2025 | $0.05 | $0.12 | -58.3% |
| Sep 2025 | $-0.07 | $0.13 | -153.8% |
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Tracked funds holding it跟踪基金持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | Position市值 |
|---|---|---|---|---|
| Polen Capital Management | C | Adding增持 | 0.0% | $2M |
Fund positioning基金持仓概览
Tracked funds in the name持有该股的跟踪基金
1
Buying vs selling买入vs卖出
1 : 0
Quarterly trend季度趋势
{'direction': 'accumulating', 'n_quarters': 2, 'holders_first': 1, 'holders_last': 1, 'holders_delta': 0, 'value_change_pct': 120.9, 'from_period': '2026-03-31', 'to_period': '2026-06-30', 'available_on': '2026-08-04', 'available_on_first': '2026-05-14', 'holders_series': [1, 1]}{'direction': 'accumulating', 'n_quarters': 2, 'holders_first': 1, 'holders_last': 1, 'holders_delta': 0, 'value_change_pct': 120.9, 'from_period': '2026-03-31', 'to_period': '2026-06-30', 'available_on': '2026-08-04', 'available_on_first': '2026-05-14', 'holders_series': [1, 1]}
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$8.7M
Insider buyers vs sellers内部人买家vs卖家
0 : 3
Recent fund flows近期基金流向
SPDR S&P PharmaceuticalsSPDR S&P Pharmaceuticals
trimming减持
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。