Business
Aytu BioPharma Reports Second Quarter of Fiscal Year 2023
Second Consecutive Quarter of Positive Adjusted EBITDAQuarterly Net Revenue of $26.3 Million Driven by 23% Growth in Rx SegmentCompany to Host Conference Call
About this update from Aytu Biopharma, Inc.
[{"type":"text","content":"Second Consecutive Quarter of Positive Adjusted EBITDAQuarterly Net Revenue of $26.3 Million Driven by 23% Growth in Rx SegmentCompany to Host Conference Call Today at 5:00pm ETENGLEWOOD, CO / ACCESSWIRE / February 21, 2023 / Aytu BioPharma, Inc. (the Company or \"Aytu\") (NASDAQ:AYTU), a commercial stage pharmaceutical and consumer health company providing pediatric-focused prescription drugs and cost-effective consumer health solutions, today announced financial and operational results for the quarter ended December 31, 2022.Q2 2023 Commercial Highlights (3 months ending December 31, 2022)Total net revenue was $26.3 million, an increase of 14% over the $23.1 million in net revenue in the year ago quarter.Net revenue from the Company's Rx segment was $18.0 million during Q2 2023 compared to $14.6 million in the year ago quarter, growth of 23%.ADHD products (Adzenys XR-ODT® and Cotempla XR-ODT®) net revenue increased by 2% to $11.1 million from $10.9 million in the year ago quarter.Pediatric products (Poly-Vi-Flor®, Tri-Vi-Flor®, and Karbinal® ER) net revenue increased 95% to $6.3 million, from $3.2 million in the year ago quarter.Consumer Health revenue during Q2 2023 was $8.3 million, a decrease of 3% over the year ago quarter due largely to a shift away from the Consumer Health segment's direct mail channel to focus on the higher contribution margin OTC medicines e-commerce channel. The segment's core OTC medicines e-commerce portfolio revenue grew 70% over the year ago quarter.Gross margins increased to 66% in Q2 2023 compared to 53% in the year ago quarter.Total Adjusted EBITDA1 was a positive $0.7 million in Q2 2023 compared to $(7.6) million in the year ago quarter. Expenditures attributable to the suspended Pipeline R&D were approximately $1.3 million in Q2 2023.On October 13, 2022, the Company announced a shift of its strategy aimed at accelerating the growth of its commercial business and achieving corporate profitability. As a result, the Company announced the indefinite suspension of its clinical development programs, including AR101/enzastaurin for the treatment of Vascular Ehlers-Danlos Syndrome (VEDS). The suspension is expected to save the Company over $20.0 million in projected future study costs.________________________[1] Aytu uses the term EBITDA, which is a term not defined under United States Generally Acce...