Aytu BioPharma (NASDAQ:AYTU) Announces Quarterly Earnings Results

Aytu BioPharma (NASDAQ:AYTUGet Free Report) announced its earnings results on Wednesday. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.09), FiscalAI reports. The firm had revenue of $12.41 million during the quarter, compared to analyst estimates of $12.05 million. Aytu BioPharma had a negative net margin of 39.02% and a negative return on equity of 28.22%.

Here are the key takeaways from Aytu BioPharma’s conference call:

  • EXXUA’s launch is gaining early traction, with more than 1,300 prescriptions in the quarter, over 450 unique prescribers, and April prescriptions rising to more than 920. Management said the launch was still only in a partial sales-force deployment, suggesting further room for growth.
  • Management highlighted encouraging early adoption and refill activity, saying patients are starting and staying on therapy and that refill trends are beginning to emerge. The company believes this is an early sign EXXUA is establishing a role in MDD treatment.
  • The company said reimbursement and access are improving, with commercial and government payer coverage progressing better than expected. Aytu reported over 70% prior-authorization approval rates within its RxConnect network and noted that early net selling prices are running above initial assumptions.
  • Legacy portfolio revenue declined sharply as Aytu shifted commercial focus toward EXXUA and faced generic competition in ADHD plus payer pressure in pediatrics. ADHD revenue fell to $9.1 million from $15.4 million a year ago, while pediatric revenue dropped to $0.9 million from $3.1 million.
  • The quarter showed a weaker reported bottom line and lower cash, with net loss of $5.6 million, adjusted EBITDA of negative $2.8 million, and cash of $26.7 million. Management said launch investments drove higher operating expense, but it also expects the balance sheet to benefit from recent warrant amendments that reduced liability volatility.

Aytu BioPharma Stock Performance

Shares of NASDAQ AYTU traded down $0.05 during midday trading on Wednesday, reaching $2.25. The company had a trading volume of 97,079 shares, compared to its average volume of 65,521. The business’s 50-day simple moving average is $2.59 and its 200 day simple moving average is $2.44. The stock has a market cap of $24.14 million, a P/E ratio of -0.59 and a beta of 0.28. Aytu BioPharma has a 1 year low of $1.32 and a 1 year high of $3.07. The company has a current ratio of 1.16, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

AYTU has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Aytu BioPharma in a research note on Wednesday, April 8th. Zacks Research upgraded shares of Aytu BioPharma from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Aytu BioPharma to a “hold” rating in a research note on Saturday, February 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.33.

Get Our Latest Research Report on AYTU

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AYTU. Dimensional Fund Advisors LP purchased a new position in shares of Aytu BioPharma in the third quarter worth $58,000. Two Sigma Investments LP raised its holdings in shares of Aytu BioPharma by 96.2% in the third quarter. Two Sigma Investments LP now owns 68,736 shares of the company’s stock worth $129,000 after buying an additional 33,701 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Aytu BioPharma in the fourth quarter worth $76,000. Rothschild Wealth LLC purchased a new position in shares of Aytu BioPharma in the fourth quarter worth $52,000. Finally, Persistent Asset Partners Ltd raised its holdings in shares of Aytu BioPharma by 27.2% in the fourth quarter. Persistent Asset Partners Ltd now owns 79,415 shares of the company’s stock worth $206,000 after buying an additional 16,963 shares during the last quarter. Hedge funds and other institutional investors own 33.49% of the company’s stock.

About Aytu BioPharma

(Get Free Report)

Aytu BioPharma, Inc is a specialty pharmaceutical company focused on the development, licensing and commercialization of novel therapeutics to address underserved medical needs. Headquartered in Englewood, Colorado, Aytu pursues a strategy of acquiring late-stage or approved products in areas such as urology, endocrinology, women’s health, pediatric care and supportive therapies. The company leverages in-house commercialization capabilities and targeted business development to build a diversified portfolio of prescription medicines and diagnostics.

Aytu’s marketed portfolio includes Natesto, a nasal testosterone gel for treatment of male hypogonadism; ZolpiMist, a zolpidem tartrate lingual spray for the short-term treatment of insomnia; and Tuzistra XR, an extended-release cough syrup formulation indicated for relief of cough and upper respiratory symptoms.

Further Reading

Earnings History for Aytu BioPharma (NASDAQ:AYTU)

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