Aytu BioPharma (NASDAQ:AYTU) Issues Quarterly Earnings Results

Aytu BioPharma (NASDAQ:AYTU) 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 business had revenue of $12.41 million for the quarter, compared to the consensus estimate 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

Aytu BioPharma stock traded down $0.05 during mid-day trading on Wednesday, hitting $2.25. 97,079 shares of the company’s stock traded hands, compared to its average volume of 65,391. The firm has a 50 day moving average price of $2.59 and a 200 day moving average price of $2.44. The company has a quick ratio of 1.03, a current ratio of 1.16 and a debt-to-equity ratio of 0.70. The company has a market cap of $24.14 million, a PE ratio of -0.59 and a beta of 0.28. Aytu BioPharma has a one year low of $1.32 and a one year high of $3.07.

Wall Street Analyst Weigh In

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

Institutional Trading of Aytu BioPharma

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Diadema Partners LP raised its stake in shares of Aytu BioPharma by 12.1% in the 4th quarter. Diadema Partners LP now owns 305,788 shares of the company’s stock worth $795,000 after buying an additional 33,118 shares in the last quarter. Persistent Asset Partners Ltd raised its stake in shares of Aytu BioPharma by 27.2% in the 4th 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 in the last quarter. Two Sigma Investments LP raised its stake in shares of Aytu BioPharma by 96.2% in the 3rd 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 in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Aytu BioPharma in the 3rd quarter worth $58,000. Finally, DRW Securities LLC bought a new stake in shares of Aytu BioPharma in the 4th quarter worth $76,000. Institutional investors own 33.49% of the company’s stock.

Aytu BioPharma Company Profile

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.