Aug 13, 2026 earnings call — HEMANGEOL relaunch and ASN-001 addition
Record revenue of $37.6 million, up 99% year-over-year, driven by HEMANGEOL relaunch and portfolio growth.
Revenue $0.0B (est $0.0B) · EPS $0.35 (est $0.19)
Key quotes
"First, the potential patient population could be two to three times larger than HEMANGEOL."
"Adjusted EBITDA for the second quarter of 2026 was $16.2 million or 43% of revenue, compared to $3.1 million or 16% of revenue in the prior year period."
"We expanded our portfolio through the acquisition of U.S. rights to IMPAVIDO and the licensing of ASN-001, adding both a commercial rare disease product and a late-stage development candidate that we believe has the potential to become the largest product in our portfolio."
Analyst Q&A 7
HEMANGEOL price, patient conversion; ASN-001
Q (Chase Knickerbocker · Craig-Hallum): They asked the net realized price this quarter versus the prior $8,000-$10,000 estimate and whether inherited patients were retained (about 95%). They also asked what FDA said about the ASN-001 bioavailability bridging study and whether that is the registrational study.
A: Management said they are still sticking with an $8,000-$10,000 net price, that patient conversion reached about 95% by the end of June and the commercial team is now focused on growing volume and converting off-label adult users. They said ASN-001 needs only a bioavailability-style study before filing, view that study as straightforward and low risk, and expect to file around the middle of next year.
"Chase, on the net pricing, we are still sticking with that $8,000-$10,000 net price." — David Krempa
HEMANGEOL provider outreach (incomplete)
Q (Ipek Trinkaus): The analyst began asking about efforts to reach providers and capture prescriptions after HEMANGEOL moved to Eton ownership.
A: The question in this exchange is cut off and no management answer appears in the transcript for this turn.
ASN-001 fit; IMPAVIDO commercialization
Q (Denis Reznik · Canaccord Genuity): They asked how ASN-001 will leverage the HEMANGEOL franchise and infrastructure, and what synergies to expect. They also asked what Eton knows about the IMPAVIDO market and how they will commercialize and grow it.
A: Sean said ASN-001 will leverage the existing hemangioma sales team, is an ideal fit, they expect to file in the middle of next year, and the product is expected to be their largest revenue-generating product when launched, likely in 2028. Ipek said prior IMPAVIDO distribution used a single-person model with no field sales and poor Medicaid coverage; Eton plans to use a specialist sales force of about 300 targets, add co-pay support and Medicaid coverage, and use the Eton Cares model so providers and patients know where to get the product.
Call technical issue / reconnect
Q (Denis Reznik): After technical difficulties the analyst said "Hello?" to reconnect; no substantive new question was posed in this exchange.
A: There is no management response in this exchange; only operator messages and the analyst saying "Hello?" are shown in the transcript.
ASN-001, IMPAVIDO, HEMANGEOL growth, DESMODA impact
Q (Denis Reznik): The analyst repeated questions about ASN-001 synergies and IMPAVIDO commercialization, then asked how much the HEMANGEOL launch lifted the quarter and how the DESMODA launch contributed.
A: Management declined to give product-level guidance but said HEMANGEOL has significant growth opportunity; Eton Cares and a much lower copay should reduce off-label use and help retain and grow patients. They said DESMODA's launch is going well but Q2 was only its first full quarter and not a large contributor yet; they expect a meaningful contribution as they exit the year.
"Ultimately, the annual patients should be exceeding 10,000 a year." — Sean Brynjelsen (CEO)
$25M guide split; DESMODA peak and salesforce
Q (Madison El-Saadi · B. Riley): They asked how much of the $25 million guidance is HEMANGEOL versus other products, and whether DESMODA's peak estimate has changed and if the sales team must grow.
A: Sean said they will not break out contributions by product but expect HEMANGEOL to continue growing, that patient conversions are largely complete, and that ASN-001 fits well with the pediatric dermatology team for launch in the next 12-20 months. Ipek said DESMODA's peak guidance remains about $40 million-$50 million, patient adds are about 115% of targets so far, and they are not planning to expand the sales force because current infrastructure is sufficient.
"I think in terms of the DESMODA peak opportunity at this point, we will keep it the same with our guidance from the past." — Ipek Trinkaus
HEMANGEOL patents, payer mix, IMPAVIDO impact
Q (RK Swayampakula · H.C. Wainwright): They asked if ASN-001 or other steps can address revenue after HEMANGEOL patent expiry, whether HEMANGEOL can be extended, how many inherited patients are paying versus on free programs and paying patient projections by end of 2026, and how IMPAVIDO's profit split and demand will affect EBITDA.
A: Sean said they are looking at formulation improvements and adding IP for HEMANGEOL and that ASN-001 has longer patent protection and a much larger market, estimating 20,000-30,000 patients at minimum while noting FDA cites over 200,000. David said they will not disclose a detailed payer mix, that net pricing is coming in around the $8,000 to $10,000 range and should stabilize month to month, and that IMPAVIDO launches at the end of September so there is no financial impact yet but they expect it to contribute multiple millions annually under a unique profit-share model.
"We are launching the product end of September, so no financial impact yet." — David Krempa