Business
Aytu BioPharma Reports Third Quarter 2022 Financial Results and Outlines Key Strategic Priorities
Quarterly Net Revenue Increased 79% Year-Over-Year to $24.2 Million, the Highest Revenue in Company HistoryStrategic Priorities Focused on Driving Revenue
About this update from Aytu Biopharma, Inc.
[{"type":"text","content":"Quarterly Net Revenue Increased 79% Year-Over-Year to $24.2 Million, the Highest Revenue in Company HistoryStrategic Priorities Focused on Driving Revenue Growth, Increasing Financial Efficiencies and Performance and Preparing Pipeline for Long-term Value CreationENGLEWOOD, CO / ACCESSWIRE / May 16, 2022 / Aytu BioPharma, Inc. (NASDAQ:AYTU), a pharmaceutical company focused on developing and commercializing novel therapeutics, today reported financial results for its fiscal 2022 third quarter, ended March 31, 2022 and outlined its key strategic priorities.\"In our fiscal third quarter and throughout 2022, we continued to make solid progress in growing our commercial businesses and developing our product candidate pipeline, and the operational improvements we've implemented following the Neos acquisition are being realized,\" said Josh Disbrow, chief executive officer of Aytu BioPharma. \"We've identified three key areas of strategic focus for our organization in the near-term - executing and growing our base business, enhancing our operational efficiencies, and preparing to advance a pipeline that addresses significant areas of medical need - all of which we believe will drive Aytu's long-term growth and success. To date, we've demonstrated growth of the prescription portfolio with an integrated, streamlined sales force, and our consumer division posted its highest revenue quarter in company history. With our ongoing plan to gain manufacturing efficiencies, we expect to see increased gross margins on our commercial-stage ADHD products, and, following that, we'll be well positioned to improve profitability across our commercial business to help fund our pipeline advancements. We've continued to advance our AR101 and Healight™ programs, which are aimed at treating life-threatening conditions for which there are no or very few available treatment options. To execute against these objectives, we are dedicated to building a strong, value-driven organization comprised of high-performing, talented individuals who are committed to serving patients and caregivers who are in need of new therapeutic solutions for rare and complex conditions.\"Key Strategic Operational PrioritiesDrive revenue growth with the company's Rx product franchise and consumer health productsAytu is commercializing two novel Attention Deficit Hyperactivity Disorder ...