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Benzinga
Benzinga
Technology
Vandana Singh

Aytu BioPharma Plans To Divest / Discontinue Non Core Assets

ADHD Nasdaq Deficit
  • Aytu BioPharma Inc (NASDAQ:AYTU) will divest or discontinue non-core, unprofitable products, including Cefaclor, Flexichamber, Tuzistra XR, generic Tussionex, and Zolpimist. 
  • Aytu expects to improve gross margins for its ADHD product franchise by transferring manufacturing to a well-established, global commercial manufacturing organization, a transition expected to occur in mid-2023.
  • Aytu is commercializing two novel Attention Deficit Hyperactivity Disorder (ADHD) products, Adzenys XR-ODT and Cotempla XR-ODT, and pediatric products Poly-Vi-Flor, Tri-Vi-Flor, and Karbinal ER.
  • Aytu has grown its ADHD prescriptions by 11% Y/Y YTD and its pediatric prescriptions by 18%.
  • Q3 sales increased 79% Y/Y to $24.2M, the highest revenue in company history.
  • Cash and cash equivalents totaled $27.6 million as of March 31.
  • The company reported a Q3 loss of $(53.1) compared to $(25.5) million a year ago, impacted by an impairment charge of $45.2 million.
  • Price Action: Monday, AYTU shares closed 5.85% lower at $0.49 on Monday.
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