Aytu BioPharma (NASDAQ:AYTU) Posts Earnings Results

Aytu BioPharma (NASDAQ:AYTU) posted its earnings results on Wednesday. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.09), FiscalAI reports. Aytu BioPharma had a negative return on equity of 85.17% and a negative net margin of 60.17%.The firm had revenue of $12.41 million for the quarter, compared to analysts’ expectations of $12.05 million.

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 Down 3.6%

Shares of AYTU traded down $0.08 during mid-day trading on Friday, reaching $2.19. The company had a trading volume of 60,543 shares, compared to its average volume of 65,462. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.16. The firm has a 50-day moving average price of $2.57 and a 200 day moving average price of $2.44. Aytu BioPharma has a 52 week low of $1.46 and a 52 week high of $3.07. The company has a market capitalization of $23.49 million, a price-to-earnings ratio of -0.48 and a beta of 0.28.

Institutional Trading of Aytu BioPharma

A number of hedge funds have recently made changes to their positions in AYTU. Rothschild Wealth LLC bought a new stake in shares of Aytu BioPharma in the 4th quarter worth approximately $52,000. Dimensional Fund Advisors LP bought a new stake in shares of Aytu BioPharma in the 3rd quarter worth approximately $58,000. XTX Topco Ltd bought a new stake in shares of Aytu BioPharma in the 4th quarter worth approximately $67,000. DRW Securities LLC bought a new stake in shares of Aytu BioPharma in the 4th quarter worth approximately $76,000. Finally, Two Sigma Investments LP boosted its position 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 purchasing an additional 33,701 shares in the last quarter. 33.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.