Eton Pharmaceuticals, Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No.)

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

ETON PHARMACEUTICALS, INC.

(Name of Registrant as Specified in Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

Eton Pharmaceuticals, Inc.

21925 W. Field Parkway, Suite 235

Deer Park, Illinois 60010

NOTICE OF THE 2026 ANNUAL MEETING OF STOCKHOLDERS

To Be Held on June 9, 2026

The 2026 Annual Meeting of Stockholders (the “Annual Meeting”) of Eton Pharmaceuticals, Inc., will be held virtually at www.meetnow.global/M7JY67S on June 9, 2026, at 10:00 a.m. central daylight time (“CDT”) for the following purposes:

The Annual Meeting will begin promptly at 10:00 a.m. CDT. Only stockholders of record at the close of business on April 10, 2026, are entitled to notice of and to vote at the Annual Meeting as set forth in the Proxy Statement. If you are a stockholder of record, your ownership as of the record date will be verified prior to admittance into the meeting. If you are not a stockholder of record but hold shares through a broker, trustee, or nominee, you must provide proof of beneficial ownership as of the record date, such as an account statement or similar evidence of ownership. Please allow ample time for the admittance process.

Pursuant to the U.S. Securities and Exchange Commission (“SEC”) rules that allow companies to furnish their proxy materials over the Internet, we are posting the Company's proxy materials on the Internet at www.envisionreports.com/ETON and delivering a Notice of Internet Availability of Proxy Materials. The Notice will be mailed to holders of record and beneficial owners of our common stock starting on or about April 27, 2026. The Notice contains instructions on how to access those documents and to cast your vote via the Internet. The Notice also contains instructions on how to request a paper copy of our proxy materials and our 2025 Annual Report on Form 10-K. Stockholders of record may request to receive the proxy materials in printed form by mail on an ongoing basis for future annual meeting of the Company's stockholders. The process allows us to provide our stockholders with the information they need on a more-timely basis.

**Your vote is important.**Whether or not you plan to attend the Annual Meeting, we encourage you to read the Proxy Statement and submit your proxy or voting instructions as soon as possible to ensure your representation and the presence of a quorum at the Annual Meeting. Please review the instructions on the proxy card regarding your voting options. You may vote via the Internet, by mail or by telephone.

By Order of the Board of Directors,

Sean E. Brynjelsen

President and Chief Executive Officer

Deer Park, Illinois

April 24, 2026

Important Notice Regarding the Availability of Proxy Materials for the Eton Pharmaceuticals 2026 Annual Meeting of Stockholders to Be Held on June 9, 2026: The Notice of 2026 Annual Meeting of Stockholders, Proxy Statement and our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 are available at www.envisionreports.com/ETON.

Forward-looking statements included herein are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. We encourage you to read our reports filed with the SEC, including the sections captioned “Risk Factors” and “Forward Looking Information and Factors that May Affect Future Results,” for a description of such risks and uncertainties. These reports are available at www.etonpharma.com and the SEC’s****website at www.sec.gov.

PROXY STATEMENT

FOR THE 2026 ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON JUNE 9, 2026