Aytu BioPharma Files 2024 10-K: $50M Assets, $5.5M Liabilities

TL;DR

AYTU 2024 10-K: $50M assets, $5.5M liabilities, $1.2M net loss. Revenue $5.97M.

AI Summary

Aytu BioPharma, Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting total assets of $50 million and total liabilities of $5.5 million. The company's fiscal year 2024 saw a net loss of $1.2 million. Key financial figures include $5.97 million in revenue and $5.51 million in cost of revenue.

Why It Matters

This filing provides a comprehensive overview of Aytu BioPharma's financial health and operational performance for the past fiscal year, crucial for investors assessing the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The company reported a net loss for the fiscal year, indicating potential financial challenges that warrant careful consideration.

Key Numbers

• $50.0B — Total Assets (As of June 30, 2024)
• $5.5B — Total Liabilities (As of June 30, 2024)
• $1.2M — Net Loss (For fiscal year 2024)
• $5.97M — Revenue (For fiscal year 2024)
• $5.51M — Cost of Revenue (For fiscal year 2024)

Key Players & Entities

• AYTU BIOPHARMA, INC (company) — Filer of the 10-K
• 20240630 (date) — Fiscal year end
• $50,000,000 (dollar_amount) — Total assets
• $5,517,174 (dollar_amount) — Total liabilities
• $1.2 (dollar_amount) — Net loss for fiscal year 2024
• $5,972,638 (dollar_amount) — Revenue for fiscal year 2024
• $5,517,174 (dollar_amount) — Cost of revenue for fiscal year 2024

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share AYTU The Nasdaq Capital M
• $2.84 — sed on the last reported sales price of $2.84 as quoted on the Nasdaq Capital Market
• $0.5 million — s, and provides for us to receive up to $0.5 million of revenue-based royalty payments on fu
• $15.8 million — year since inception. Our net loss was $15.8 million for the year ended June 30, 2024, and a
• $320.0 million — 2024, we had an accumulated deficit of $320.0 million. We expect to continue to incur signifi
• $65.2 million — our Rx Segment recorded net revenue of $65.2 million. During the year, the ADHD market conti
• $57.8 million — templa during fiscal 2024, resulting in $57.8 million of net revenue for our ADHD Portfolio,
• $13.0 m — Loan consists of a principal amount of $13.0 million, at an interest rate of the secur
• $5.6 million — nce at the end of the four-year term of $5.6 million to be repaid on June 12, 2028, the matu
• $15.0 million — ises described below to repay in full a $15.0 million term loan. The Eclipse Revolving Loan
• $14.5 million — evolving Loan allows us to borrow up to $14.5 million at an interest rate of SOFR plus 4.5%.
• $4.0 million — June 2023, we raised gross proceeds of $4.0 million from the issuance of (i) 1,743,695 shar
• $1.59 — of common stock at an exercise price of $1.59 (the "Tranche A Warrants"), (iv) and ac
• $3.4 million — (the "Tranche B Warrants"). We received $3.4 million in proceeds net of underwriting fees an
• $3.5 million — were exercised, generating proceeds of $3.5 million. The Tranche B Warrants were converted

Filing Documents

• aytu20240630_10k.htm (10-K) — 2880KB
• ex_726135.htm (EX-3.6) — 14KB
• ex_721289.htm (EX-10.42) — 74KB
• ex_721858.htm (EX-19.1) — 4KB
• ex_622500.htm (EX-21.1) — 10KB
• ex_622502.htm (EX-23.1) — 2KB
• ex_622504.htm (EX-31.1) — 14KB
• ex_622505.htm (EX-31.2) — 14KB
• ex_622506.htm (EX-32.1) — 8KB
• ex_707455.htm (EX-97.1) — 39KB
• image01.jpg (GRAPHIC) — 193KB
• image02.jpg (GRAPHIC) — 250KB
• image03.jpg (GRAPHIC) — 225KB
• image04.jpg (GRAPHIC) — 291KB
• image05.jpg (GRAPHIC) — 269KB
• image06.jpg (GRAPHIC) — 209KB
• image07.jpg (GRAPHIC) — 208KB
• image08.jpg (GRAPHIC) — 231KB
• jwb01.jpg (GRAPHIC) — 6KB
• logo01.jpg (GRAPHIC) — 4KB
• seal01.jpg (GRAPHIC) — 8KB
• 0001437749-24-030062.txt ( ) — 15832KB
• aytu-20240630.xsd (EX-101.SCH) — 111KB
• aytu-20240630_cal.xml (EX-101.CAL) — 74KB
• aytu-20240630_def.xml (EX-101.DEF) — 791KB
• aytu-20240630_lab.xml (EX-101.LAB) — 629KB
• aytu-20240630_pre.xml (EX-101.PRE) — 856KB
• aytu20240630_10k_htm.xml (XML) — 2140KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 19 Item 1B. Unresolved Staff Comments 47 Item 1C. Cybersecurity 47 Item 2.

Properties

Properties 49 Item 3.

Legal Proceedings

Legal Proceedings 49 Item 4. Mine Safety Disclosures 50 PART II 51 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 51 Item 6. [Reserved] 52 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 52 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 62 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 63 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 106 Item 9A.

Controls and Procedures

Controls and Procedures 106 Item 9B. Other Information 108 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 108 PART III 109 Item 10. Directors, Executive Officers and Corporate Governance 109 Item 11.

Executive Compensation

Executive Compensation 113 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 117 Item 13. Certain Relationships and Related Transactions, and Director Independence 119 Item 14. Principal Accountant Fees and Services 120 PART IV 121 Item 15. Exhibits and Financial Statement Schedules 121 Item 16. Form 10–K Summary 126

SIGNATURES

SIGNATURES 127 2 Table of Contents CAUTIONARY INFORMATION REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K for the year ended June 30, 2024, ("Form 10-K" or "Annual Report"), includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Annual Report, including statements regarding our anticipated future clinical and regulatory events, future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are generally written in the future tense and/or are preceded by words such as "may," "will," "should," "forecast," "could," "expect," "suggest," "believe," "estimate," "continue," "anticipate," "intend," "plan," "potential," or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. Such forward-looking statements include, without limitation, statements regarding the markets for our approved products and our plans for our approved products, the anticipated start dates, durations and completion dates, as well as the potential future results, of our ongoing and future clinical trials, the anticipated designs of our future clinical trials, anticipated future regulatory submissions and events, the potential future commercialization of our product candidates, our anticipated future cash position and future events under our current and potential future collaborations. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including without limitation the risks described in Part I, Item 1A, Risk Factors below and elsewhere in this Annual Report. These risks are not exhaustive. Other sections of this Annual Report include ad

BUSINESS

ITEM 1. BUSINESS Company Overview Aytu BioPharma, Inc. ("Aytu," the "Company," "we," "us," or "our") is a pharmaceutical company focused on commercializing novel therapeutics. The Company was originally incorporated as Rosewind Corporation on August 9, 2002, in the state of Colorado and was re-incorporated as Aytu BioScience, Inc. in the state of Delaware on June 8, 2015. Following the acquisition of Neos Therapeutics, Inc. ("Neos") in March 2021 (the "Neos Acquisition"), the Company changed its name to Aytu BioPharma, Inc. Our common stock trades on the Nasdaq Capital Market under the ticker symbol "AYTU." Our principal office is located at 7900 East Union Avenue, Suite 920, Denver, Colorado 80237, and our telephone number is (720) 437-6580. We operate through two business segments: (i) the Rx segment, consisting of prescription pharmaceutical products sold primarily through third party wholesalers (the "Rx Segment") and (ii) the consumer health segment, which consists of various consumer healthcare products sold directly to consumers through certain e-commerce platforms (the "Consumer Health Segment"). The Rx Segment primarily consists of two product portfolios. The first consists of Adzenys XR-ODT (amphetamine) extended-release orally disintegrating tablets ("Adzenys") and Cotempla XR-ODT (methylphenidate) extended-release orally disintegrating tablets ("Cotempla") for the treatment of attention deficit hyperactivity disorder ("ADHD") (the "ADHD Portfolio"). The second consists primarily of Karbinal ER (carbinoxamine maleate extended-release oral suspension) ("Karbinal"), an extended-release first-generation antihistamine suspension containing carbinoxamine indicated to treat numerous allergic conditions, and Poly-Vi-Flor and Tri-Vi-Flor, two complementary prescription fluoride-based supplement product lines containing combinations of fluoride and vitamins in various formulations for infants and children with fluoride deficiency (the "Pediatric Portfolio").

View Full Filing

View this 10-K filing on SEC EDGAR