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Jun 30, 2021
Aytu BioScience Q4 2021 Earnings Report
Aytu Biopharma's Q4 2021 financial results were reported, featuring a significant increase in net revenue and strategic integration efforts.
Key Takeaways
Aytu BioPharma reported a net revenue of $23.5 million for the fourth quarter of fiscal year 2021, marking a 138% increase compared to the same quarter in the previous year. The company's net loss for the quarter was $19 million, or $0.81 per share. Aytu also focused on integrating its sales forces and patient access programs following the merger with Neos Therapeutics.
Net revenue for Q4 2021 reached $23.5 million, a 138% increase year-over-year.
Consumer health division revenue was $8.9 million, driven by e-commerce and new products.
Prescription division revenue was $14.6 million, compared to $7.9 million in the same quarter last year.
The company successfully integrated the Aytu and Neos sales forces and patient access programs.
Aytu BioScience
Aytu BioScience
Forward Guidance
Aytu BioPharma anticipates multiple new product launches in the consumer health segment in the first half of 2022, continued growth of prescription products, particularly ADHD and multi-vitamin brands, and expansion of the Aytu RxConnect program. The company also plans to obtain Orphan Drug Designation from the FDA and EMA for AR101 in VEDS, submit an Investigational New Drug application to the FDA for AR101, and initiate a study evaluating Healight for the treatment of patients with SARS-CoV-2.
Positive Outlook
- Multiple new product launches in the consumer health segment in the first half of 2022 and organic product growth through the e-commerce and direct-to-consumer channels
- Grow prescription products with a focus on ADHD brands Adzenys XR-ODT and Cotempla XR-ODT and multi-vitamin brands Poly-Vi-Flor and Tri-Vi-Flor
- Expand Aytu RxConnect to maximize prescription portfolio pharmacy pull-through
- Obtain Orphan Drug Designation from the FDA for AR101 for VEDS
- Obtain Orphan Drug Designation from the European Medicines Agency (EMA) for AR101 in VEDS
Challenges Ahead
- Manufacturing transition is expected to require aggregate, one-time capital expenditures of approximately $4.0 million over the course of the project.
- Gross margin was negatively impacted by a $2.1 million increase in cost of goods sold for the attention deficit hyperactivity disorder (ADHD) products
- Costs of $2.9 million associated with the acquisition of the assets of Rumpus Therapeutics, including the licenses to AR101, were expensed to research and development in the quarter ended June 30, 2021.
- Impairment expense of $8.5 million was recognized in the quarter ended June 30, 2021 due to the write-off of a licensed intangible asset as a result of the impact of COVID-19 and other factors negatively impacting product sales.
- Net loss for the fourth quarter of fiscal 2021 was $19.0 million, or $0.81 per share.