Business
Aytu BioScience Announces Fiscal Q1 2021 Net Revenue of $13.5 Million, an Increase of 839% Year-Over-Year
Q1 Consumer Health revenue reaches an all-time high of $7.8 millionLive Conference Call and Webcast at 4:30 PM ESTENGLEWOOD, CO / ACCESSWIRE / November 12,
About this update from Aytu Biopharma, Inc.
[{"type":"text","content":"Q1 Consumer Health revenue reaches an all-time high of $7.8 millionLive Conference Call and Webcast at 4:30 PM ESTENGLEWOOD, CO / ACCESSWIRE / November 12, 2020 / Aytu BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company (the \"Company\") focused on commercializing novel products that address significant patient needs today reported financial results for its fiscal first quarter 2021, for the three month period ending September 30, 2020.First Quarter Fiscal 2021 Financial HighlightsQ1 Net Revenue increased 839% year-over-year to $13.5 millionQ1 Consumer Health Net Revenue was an all-time high of $7.8 million, compared to $6.9 million in Q4 20201Q1 Rx Net Revenue was $5.8 million, compared to $1.4 million in Q1 last yearQ1 Net loss of ($4.3) million and Q1 adjusted EBITDA loss of $1.3 millionCash, cash equivalents and restricted cash of $38.2 million on September 30, 2020Commenting on the first quarter of fiscal 2021, Josh Disbrow, Chief Executive Officer of Aytu BioScience, stated \"Net revenue increased substantially in Q1 2021, to $13.5 million, compared to $1.4 million for Q1 2020. It is critical to highlight that this was just the second full quarter of revenue contribution from the combined Aytu and Innovus businesses, along with the Cerecor assets. Turning to the bottom line, adjusted EBITDA loss was reduced to just $1.3 million for Q1 2021, compared to a $3.6 million adjusted EBITDA loss for Q1 2020. On the balance sheet, with approximately $38.2 million in cash and less than $1.0 million of debt, and at current spending levels, we believe we have adequate resources to achieve profitability.\"Mr. Disbrow continued, \"Taking a closer look at the top line, on the Consumer Health side, we generated $7.8 million in net revenue, an all-time high and an increase compared to Q4 2020. Contributing to those results was a strengthened e-commerce business and the launch of OmepraCare®, an over-the-counter proton pump inhibitor for acid reflux, and Q4 2020 launch of Regoxidine®, an over-the-counter foam formulation of minoxidil for hair loss. On the Rx side, net revenue was $5.8 million, also an increase compared to Q1 2020. Contributing to Rx revenue was a relatively balanced contribution across the prescription portfolio inclusive of COVID-19 test kits. Additionally, our commercial partner Acerus Pharmaceuticals launc...