AYTU BioPharma, Inc. - AYTU STOCK NEWS

Aytu BioPharma is addressing the ongoing supply disruption of generic Adderall by promoting its FDA-approved bioequivalent, Adzenys XR-ODT. This medication is available as an orally disintegrating tablet, providing an alternative for ADHD patients unable to fill their Adderall prescriptions. Aytu's RxConnect program helps patients navigate insurance challenges, offering reduced out-of-pocket costs, often capped at $35 for commercially insured patients. The company emphasizes the importance of maintaining treatment continuity for individuals with ADHD during this time.

Aytu BioPharma (NASDAQ:AYTU) announced a 1-for-20 reverse stock split effective January 6, 2023, to regain compliance with Nasdaq's $1.00 minimum bid price requirement. This decision follows approval from stockholders at a Special Meeting on October 5, 2022. Post-split, approximately 68.8 million shares will be reduced to about 3.4 million. A cash payment will be made for any fractional shares. The compliance deadline is May 22, 2023, requiring a consistent closing bid price of at least $1.00 for ten consecutive business days.

Aytu BioPharma announced a record 5,186 prescriptions for Adzenys XR-ODT for the week ending November 18, 2022, marking a 9.9% increase over the prior 13-week period. This increase is attributed to strong sales force execution and effective use of the Aytu RxConnect patient support program. Adzenys XR-ODT, an FDA-approved bioequivalent to Adderall XR, remains available without disruption, providing an alternative amid ongoing supply issues affecting Adderall. The company ensures consistent production at its Texas facility.

Aytu BioPharma has received a 180-day extension from Nasdaq to comply with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The deadline is set for May 22, 2023. Aytu must keep its stock price above $1.00 for at least 10 consecutive business days to regain compliance. The company is considering options, including a reverse stock split, to achieve this. If compliance is not met, Aytu’s stock could be delisted, although it can appeal any such decision. Aytu's stock continues to trade on Nasdaq under the symbol AYTU.

Aytu BioPharma has been ranked 94th on the Deloitte Technology Fast 500 and 21st among life sciences companies for the second consecutive year. This recognition highlights the company's growth, driven by a 47% increase in net revenue to $96.7 million in fiscal 2022, with an impressive 87% growth in prescription products sales. Aytu recently reported positive adjusted EBITDA in its first quarter of fiscal 2023. CEO Josh Disbrow emphasized the team's efforts in achieving commercial success and positive cash flows.

Aytu BioPharma (NASDAQ:AYTU) announced the passing of co-founder and board member Michael Macaluso on November 16, 2022. CEO Josh Disbrow expressed condolences, highlighting Macaluso's significant contributions since the company's inception in 2015. Macaluso served as Chair of the Compensation Committee and was integral to Aytu's growth, drawing on his four-decade entrepreneurial career in the life sciences sector. His diverse background included leadership roles at Ampio Pharmaceuticals and Isolagen, reflecting his deep industry expertise.

Aytu BioPharma reported a record quarterly net revenue of $27.7 million for Q1 2023, a 26% increase from $21.9 million year-over-year. Revenue from the Rx segment rose 34% to $18.7 million, with ADHD products increasing by 24% and pediatric products by 73%. The company achieved a positive Adjusted EBITDA of $1.4 million compared to a loss of $4.2 million last year. Strategic leadership changes were made to enhance commercial operations. The indefinite suspension of R&D programs is projected to save over $20 million in future costs.

Aytu BioPharma (Nasdaq: AYTU) will announce its first quarter fiscal year 2023 financial results after the market closes on November 14, 2022. A conference call to discuss these results is scheduled for the same day at 4:30 pm ET. Investors can join the call by dialing (877) 545-0523 or (973) 528-0016, using access code 883834. The call will also be available via webcast, with an archive lasting 90 days. Aytu's product portfolio includes prescription drugs for ADHD and a variety of consumer health products.

Aytu BioPharma announced an amendment to its secured loan agreement with Avenue Venture Debt Fund, extending the interest-only period to January 2024. This amendment defers over $3 million in principal payments into 2024 and 2025, aiding cash conservation. The loan matures in January 2025, with additional interest-only extensions possible upon achieving certain milestones. The reset of the warrant exercise price to $0.43 is part of this agreement, reflecting the company's latest equity financing. CEO Josh Disbrow emphasized this move supports their operational goals.