Business
Aytu BioPharma Reports Third Quarter of Fiscal Year 2023 Financial Results
Total prescriptions increased 32% compared to Q3 2022 to highest level in Company historyCompany to host conference call today at 4:30pm ETENGLEWOOD, CO /
About this update from Aytu Biopharma, Inc.
[{"type":"text","content":"Total prescriptions increased 32% compared to Q3 2022 to highest level in Company historyCompany to host conference call today at 4:30pm ETENGLEWOOD, CO / ACCESSWIRE / May 11, 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 March 31, 2023.Q3 2023 Commercial Highlights (3 months ending March 31, 2023)Total net revenue was $22.7 million, a decrease of 6% from the $24.2 million in net revenue in the year-ago quarter. Revenue during Q3 2023 was impacted by a one-time $1.2 million channel inventory adjustment due to an ADHD products price increase instituted on April 1, 2023. Excluding this impact, net revenue would have been $23.9 million, in-line with the year-ago quarter.Record total quarterly prescriptions of 153,452, a 32% increase over Q3 2022.Net revenue from the Company's Rx segment was $13.8 million during Q3 2023 compared to $13.9 million in the year-ago quarter.ADHD products (Adzenys XR-ODT® and Cotempla XR-ODT®) net revenue decreased by 21% to $8.3 million from $10.4 million in the year ago quarter.Pediatric products (Poly-Vi-Flor®, Tri-Vi-Flor®, and Karbinal® ER) net revenue increased 81% to $5.3 million, from $2.9 million in the year-ago quarter.Consumer Health revenue during Q3 2023 was $8.9 million, a decrease of 14% over the year ago quarter due largely to the continuing shift away from the 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 13% over the year-ago quarter.Gross margins improved to 56% in Q3 2023 compared to 52% in the year-ago quarter.Net loss during Q3 2023 was $(7.2) million, or ($1.93) per share, compared to $(53.3) million, or ($35.90) per share, in Q3 2022.Total Adjusted EBITDA1 was $(6.5) million in Q3 2023 compared to $(5.7) million in the year-ago quarter. Expenditures attributable to the suspended Pipeline R&D were approximately $401,000 in Q3 2023.Cash and equivalents levels held steady at $19.2 million against $19.5 million in the sequential quarter.1 Aytu uses the term EBITDA, which is a term not defined under United States Ge...