Eton Pharmaceuticals (ETON) 10% Owner Opaleye Management Sells Shares

What Happened
Opaleye Management, Inc., reporting as a 10% owner (as investment manager for Opaleye, L.P. and a separately managed account), sold a total of 28,315 Eton Pharmaceuticals (ETON) shares in open-market transactions on July 14, 2026. The sales were for 15,000 shares ($563,147) and 13,315 shares ($499,886), at a weighted average price of $37.54, for a combined proceeds of approximately $1,063,033. This filing is an amendment; the remarks state it was amended solely to indicate the reporting person is no longer subject to Section 16.

Key Details

• Transaction date: 2026-07-14 (reported via amended Form 4 filed 2026-07-17).
• Sales: 15,000 shares @ weighted avg $37.54 = $563,147; 13,315 shares @ weighted avg $37.54 = $499,886. Combined = 28,315 shares ≈ $1,063,033.
• Price range: shares were sold in multiple trades at prices from $37.0152 to $37.9148 (weighted avg reported). The filer can provide per-price breakdown on request (footnote F3).
• Shares owned after transaction: Not specified in the amended filing.
• Footnotes: F1/F2 — Opaleye Management may be deemed beneficial owner as investment/portfolio manager for the Fund and a Managed Account; F4 — the manager disclaims beneficial ownership except for its pecuniary interest.
• Filing note: This is an amended Form 4 filed to update the reporting person’s Section 16 status.

Context

• This is an institutional/investment-manager sale by a reported 10% owner (not an executive insider). Such sales often reflect portfolio management decisions rather than executive views on company prospects.
• No options were exercised and no grants or gifts were involved — these were outright sales (transaction code S).
• The weighted-average price and offer to provide a breakdown mean the sales were executed across multiple trades during the day.