Business
Aytu BioScience Announces Record Fiscal Q2 2021 Net Revenue of $15.1 Million, an Increase of 377% Year-Over-Year
Announced definitive merger agreement with Neos Therapeutics, creating a combined $100 million revenue specialty pharmaceutical companyQ2 Consumer Health
About this update from Aytu Biopharma, Inc.
[{"type":"text","content":"Announced definitive merger agreement with Neos Therapeutics, creating a combined $100 million revenue specialty pharmaceutical companyQ2 Consumer Health division revenue reaches an all-time high of $7.9 millionQ2 Rx division revenue up 24% sequentiallyEnded the quarter with $62.3 million in cash, cash equivalents and restricted cashLive conference call and webcast today at 4:30 PM ESTENGLEWOOD, CO / ACCESSWIRE / February 11, 2021 / Aytu BioScience, Inc. (NASDAQ:AYTU) (the \"Company\"), a specialty pharmaceutical company focused on commercializing novel products that address significant patient needs today reported financial results for its fiscal second quarter 2021, for the three-month period ending December 31, 2020.Second Quarter Fiscal 2021 Financial HighlightsQ2 Net Revenue was an all-time high of $15.1 million, compared to $13.5 million in Q1 2021.Q2 Consumer Health division Net Revenue was an all-time high of $7.9 million, compared to $7.8 million in Q1 2021.Q2 Rx division Net Revenue was $7.2 million, compared to $5.8 million in Q1 2021.Q2 2021 Net Loss of $9.5 million and adjusted EBITDA loss of $1.8 million.Cash, cash equivalents and restricted cash totaled $62.3 million on December 31, 2020.Definitive Merger AgreementOn December 10, 2020, Aytu BioScience and Neos Therapeutics announced a definitive merger agreement, creating a combined $100 million revenue specialty pharmaceutical company.Commenting on the second quarter of fiscal 2021, Josh Disbrow, Chief Executive Officer of Aytu BioScience, stated \"Net revenue increased substantially in Q2 2021, to $15.1 million, compared to $3.2 million for Q2 2020. It is important to point out that this was only the third full quarter of revenue contribution from the combined Aytu and Innovus businesses, along with the acquired Cerecor pediatric assets. Turning to the bottom line, adjusted EBITDA loss was reduced to just $1.8 million for Q2 2021. On the balance sheet, we are in a strong position with approximately $62 million in cash. We are well positioned from an operational and financial standpoint as we move closer to our expected closing of the Neos merger by the second calendar quarter.\"Mr. Disbrow continued, \"Taking a closer look at the top line, on the Rx side, net revenue was $7.2 million, a 24% increase compared to last quarter, Q1 2021. Rx revenue growth was driven...