Aytu Biopharma, Inc. · NASDAQ:AYTU
Aytu Biopharma — Q3 2026 Earnings Presentation
28 slides from Aytu Biopharma's earnings presentation, May 13, 2026
Slide 1: Medicines Made for Life
Medicines Made for Life Nasdaq: AYTU May 2026 Actor portrayals.
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”). All statements other than statements o
Slide 3: Medicines Made for Life
Medicines Made for Life. The mission of Aytu BioPharma is to improve the lives of patients everywhere, with a distinct focus on complex Central Nervous System (CNS) conditions. Our novel therapeutics enhance the lives of patients living with major depressive disorder (MDD) and attention deficit hype
Slide 4: Novel, Patent-Protected Prescription Portfolio
Novel, Patent-Protected Prescription Portfolio Differentiated Rx brands primarily focused on CNS conditions Leverage experience of a portfolio built through efficient M&A to add accretive, novel, branded prescription products to commercial portfolio MDD BRAND ADHD BRANDS PEDIATRIC BRANDS 4
Slide 5: Net Revenue by Product Portfolio
Net Revenue by Product Portfolio June 30 Fiscal Year-End EXXUA for MDD recently launched and set to be significant contributor to net revenue $70 $60 $57.8 $57.6 $48.6 $50 $46.9 $42.9 $40 $ Million $30 $25.4 $20 $16.1 $12.4 $10.9 $9.4 $8.8 $10 $7.3 $5.3 $2.2 $1.6 $2.6 $0.1 $0.0 $0.0 $0 2021 2022 202
Slide 6: Aytu RxConnect Patient Access Program
Aytu RxConnect® Patient Access Program Aytu RxConnect® is a proprietary, best-in-class patient access program, supported by an efficient commercial infrastructure, to support patient access to Aytu Rx products. ● Developed in-house to drive patient adherence and increased script pull- through of Ayt
Slide 7: Commercial Infrastructure
Commercial Infrastructure Efficient, experienced, and leverageable commercial infrastructure for Rx Portfolio through initial 40 territories allows for rapid scalable promotional expansion opportunities ● Lean, direct sales force covers core branded MDD prescribers in our current sales footprint ● S
Slide 8: EXXUA: A New Way to Treat Major Depressive Disorder
EXXUA A New Way to Treat Major Depressive Disorder
Slide 9: EXXUA (gepirone) Extended-Release Tablets
EXXUA (gepirone) Extended-Release Tablets A first-in-class treatment for MDD employing a novel mechanism of action to address MDD symptoms - without the side effects commonly attributed to current antidepressants Major Competitive Novel Mode Of Large & Growing Patent Additional Better Pricing Advant
Slide 10: Significant Unmet Needs Exist in MDD
Significant Unmet Needs Exist in MDD EXXUA provides an important new treatment option for MDD patients seeking an effective therapy without inducing side effects like Treatment-Emergent Sexual Dysfunction (TESD) & weight gain ● Major Depressive Disorder affects an estimated 21 million people in the
Slide 11: EXXUA: First and Only 5HT1A Agonist for MDD
EXXUA: First and Only 5HT1A Agonist for MDD EXXUA has a unique mechanism of action for MDD ● Selectively targets 5-HT1A, a key regulator of mood, emotion, and pleasure1-3 ● Significantly lower affinity for 5-HT2A, which is associated with sexual dysfunction1,4 ● No serotonin reuptake inhibition, lik
Slide 12: EXXUA: Demonstrated Efficacy in MDD
EXXUA: Demonstrated Efficacy in MDD EXXUA demonstrated significantly greater improvement in depressive symptoms vs placebo1 ● Efficacy was demonstrated in two eight-week, randomized, double-blind, placebo-controlled, flexible- dose studies in adults with MDD1 ● Placebo-subtracted difference in HAMD-
Slide 13: EXXUA: A Favorable Adverse Event Profile
EXXUA: A Favorable Adverse Event Profile EXXUA has an adverse event profile that is distinct from other MDD treatments ● Only 7% (15/226) of patients discontinued treatment with EXXUA due to an adverse reaction vs 3% (6/230) of patient s receiving placebo1 ● The most common adverse reactions leading
Slide 14: EXXUA: A Clear Position in the MDD Market
EXXUA: A Clear Position in the MDD Market EXXUA has a unique profile due to its MOA, which helps explain the lack of impact on sexual function or weight – key issues for many MDD patients Novel Mechanism No Impact of Once Daily Brand Weight Neutral of Action Sexual Function Dosing EXXUA SSRIs SNRIs
Slide 15: EXXUA Promotional Mix & Commercial Priorities
EXXUA Promotional Mix & Commercial Priorities Sales force promotion EXXUA Launch Focus ● Efficient, multi-faceted launch with emphasis on sales force promotion and metrics-based performance management ● Targeted virtual promotion and pull-through to support broad Strategic payor assessments Targeted
Slide 16: EXXUA TRxs and Shipments
EXXUA TRxs and Shipments EXXUA(TRxs) EXXUA (Shipments) 1,000 2,500 920 900 800 2,000 1,912 731 700 600 1,500 1,315 500 398 400 1,000 872 300 546 551 186 200 500 100 43 0 0 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 Source: Symphony Metys April 2026. Aytu BioPharma EXXUA pu
Slide 17: ADHD & Pediatrics
ADHD & Pediatrics Legacy Portfolios
Slide 18: Established Revenue Generating Prescription Portfolio
Established Revenue Generating Prescription Portfolio Differentiated Rx brands focused on ADHD and Pediatrics ADHD BRANDS PEDIATRIC BRANDS ● First & only extended-release ODT amphetamine ● Only FDA-approved, extended-release ● Only branded amphetamine that is FDA-approved as carbinoxamine liquid bio
Slide 19: ADHD and Pediatric Portfolio TRxs
ADHD and Pediatric Portfolio TRxs ADHD Portfolio (TRxs) Pediatric Portfolio (TRxs) 500,000 160,000 450,000 433,041 438,467 415,110 140,000 134,310 400,000 376,996 380,155 352,431 120,000 350,000 305,260 298,976 292,307 100,000 300,000 90,623 91,380 263,368 250,000 235,458 80,000 75,183 212,633 64,94
Slide 20: Financials
QAytu Financials
Slide 21: Net Revenue & Adjusted EBITDA
Net Revenue & Adjusted EBITDA EXXUA for MDD recently launched and set to be significant contributor to net revenue NET REVENUE* ADJUSTED EBITDA* June 30 Fiscal Year-End June 30 Fiscal Year-End $80 $15 $73.8 $10.8 $9.7 $9.2 $10 $70 $66.4 $65.2 $61.1 $5 $60 $56.6 $0 $50 $ Million ($2.1) $ Million ($5)
Slide 22: Favorable Gross Margin & OpEx Trends
Favorable Gross Margin & OpEx Trends Production outsourcing & operational improvements have driven gross margin improvement GROSS MARGIN* ADJUSTED OPEX AS A % OF NET REVENUE* June 30 Fiscal Year-End June 30 Fiscal Year-End 90% 120% 80% 75% 98% 71% 100% 69% 70% 65% 78% 60% 56% 80% 72% 69% 67% 50% 59%
Slide 23: Balance Sheet Highlights
Balance Sheet Highlights Closed $16.6 million upsized at the market public offering of common stock/prefunded warrants with full exercise of overallotment in June 2025. (in thousands) 3/31/2026 Cash and cash equivalents $26,715 Total current assets $67,326 Intangible assets, net $42,490 Total assets
Slide 24: Appendix
QAytu Appendix Financial
Slide 25: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation $ in thousands TTM FY21 FY22 FY23 FY24 FY25 March 31, 2026 Net loss - GAAP $ (58,289) $ (108,779) $ (17,051) $ (15,844) $ (13,562) $ (34,055) Interest expense 2,618 3,311 5,149 5,059 3,703 2,242 Income tax expense (benefit) 259 (110) 263 2,142 437 447 Depreciation and
Slide 26: Adjusted OpEx as a % of Net Revenue Reconciliation
Adjusted OpEx as a % of Net Revenue Reconciliation $ in thousands TTM FY21 FY22 FY23 FY24 FY25 March 31, 2026 Net revenue $ 32,678 $ 61,121 $ 73,799 $ 65,183 $ 66,382 $ 56,599 Cost of goods sold 23,205 26,918 21,570 16,129 20,551 19,936 Gross profit $ 9,473 $ 34,203 $ 52,229 $ 49,054 $ 45,831 $ 36,6
Slide 27: EXXUA Key Deal Terms
EXXUA Key Deal Terms • Fixed Payments: • $3M paid at execution • Additional $3M paid within forty-five (45) days of 1st anniversary of Commercial Launch (January 2027) • Second upfront payment increases to $5M if Net Sales for the first 12 months > $35M • Royalties (% of Net Sales): • 28% ‘base’ roy
Slide 28: Capitalization Table
Capitalization Table 3/31/2026 Shares Outstanding: 10,733,208 Options Outstanding: Avg. Strike Price $ 4.40 203,744 Warrants Outstanding: Strike Price Expiration Date Classification Amended 2025 Prefunded Warrants $ 0.0001 N/A Equity 6,748,332 Amended 2023 Prefunded Warrants $ 0.0001 N/A Equity 2,06