Aytu Bioscience Inc. 2021 Q1 Earnings. Should you Sell or Buy?

 

Aytu BioPharma, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company focused on commercializing novel therapeutics and consumer healthcare products, today reported financial results for the fiscal third quarter ended March 31, 2021 and provided recent business highlights.

Third Quarter Fiscal 2021 Financials:

  • Net revenue was $13.5 million, compared to $8.2 million in the same quarter last year. The company continues to increase sales through both organic product growth and through the realization of the recently-completed Neos transaction.
    • Net revenue from the consumer health division was $8.4 million, an increase over the $3.5 million in the same quarter last year. Consumer health growth was driven primarily by multiple product launches and growth of the e-commerce channel.
    • Net revenue from the Rx division was $5.1 million, an increase over the $4.7 million in the same quarter last year and includes the product revenue contributed from Neos only for the period following the close of the merger on March 19, 2021.
  • Net loss was $25.5 million, or $1.41 per share. Net loss increased primarily as a result of Neos merger-related and other deal expenses of $10.6 million and the write off of $7.1 million in slow-moving inventory in the quarter.
  • Cash, cash equivalents and restricted cash totaled $46.8 million as of March 31, 2021, after making a principal payment of $15.0 million toward the Deerfield Note held by Neos.
  • – Closed merger with Neos Therapeutics creating a proforma combined $100 million revenue specialty pharmaceutical company –– Added late-stage pediatric onset rare disease asset, protein kinase C β isoform (PKCβ) inhibitor, AR101 (enzastaurin) to development pipeline –

    – Record quarter for consumer health division with revenue reaching $8.4 million and Rx division revenue up 9% over same quarter last year –

    – Grew leadership team with three executives including CFO, Rich Eisenstadt

 

 

Click Here For Full Stock Research on AYTU

 

CWEB Analyst’s have initiated a Sell Rating for Aytu BioPharma, Inc. (NASDAQ:AYTU) . End of summer they will initiate phase 2. Competition phase around January 2022 and data read out phase 2 around may2022. Right know Aytu is burning cash with $25 million loss 1.48 eps loss and only  $48 million cash left. It could potentially lead to a reverse split. Q2 will prove if the company has executed a plan without burning so much cash.

 

 

 

 


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