Download PDF

1. Company Snapshot

1.a. Company Description

Aytu Biopharma, Inc., a specialty pharmaceutical company, focuses on developing and commercializing novel therapeutics and consumer healthcare products the United States and internationally.The company offers Adzenys XR-ODT for the treatment of attention deficit hyperactivity disorder (ADHD) in patients from 6 years and older; Cotempla XR-ODT for the treatment of ADHD in patients from 6 to 17 years old; and Adzenys ER, an oral suspension for the treatment of ADHD in patients from 6 years and older.It also provides Karbinal ER, a carbinoxamine oral suspension for the treatment of seasonal and perennial allergies; Poly-Vi-Flor and Tri-Vi-Flor prescription supplements for infants and children for the treatment of fluoride deficiency; Tuzistra XR, a prescription antitussive consisting of codeine polistirex and chlorpheniramine polistirex in an oral suspension; and ZolpiMist, an oral spray for the treatment of insomnia.


The company was formerly known as Aytu BioScience, Inc.and changed its name to Aytu Biopharma, Inc.in March 2021.


Aytu Biopharma, Inc.was incorporated in 2015 and is headquartered in Englewood, Colorado.

Show Full description

1.b. Last Insights on AYTU

Aytu BioPharma's recent performance was negatively impacted by a lack of significant revenue growth, despite a 86% sequential increase in Pediatric Portfolio net revenue. The company's Adjusted EBITDA of $1.3 million was lower than expected, and its net income of $0.8 million was also below forecast. Additionally, the company's cash balance of $20.4 million at December 31, 2024, may not be sufficient to support its future growth plans.

1.c. Company Highlights

2. Aytu BioPharma's Q1 FY2026 Earnings: A Strong Start with ADHD Portfolio Growth

Aytu BioPharma reported a net revenue of $13.9 million for Q1 FY2026, surpassing expectations, driven primarily by the robust performance of its ADHD portfolio, which saw a 10% year-over-year growth, excluding a one-time commercial rebate benefit. The company's gross margin stood at 66%, down from 72% in the prior year, but improved on an equivalent basis. The company achieved a net income of $2 million, or $0.21 per share, and reported an adjusted EBITDA of a negative $0.6 million. Operating expenses, excluding amortization and restructuring costs, decreased to $10.2 million from $11.2 million in the prior year. Actual EPS came out at -$0.08 relative to estimates at -$0.06.

Publication Date: Nov -19

📋 Highlights
  • Q1 2026 Net Revenue:: $13.9 million, exceeding expectations with ADHD portfolio growth of 10% YoY (excluding one-time rebate).
  • EXXUA Launch Progress:: Key milestones achieved (manufacturing, labeling, sales training); on track for late 2025 launch with 69% gross margin expected post-launch.
  • Financial Performance:: Gross margin at 66%, operating expenses reduced to $10.2 million YoY; $32.6 million in cash reserves as of Q1 2026.
  • Break-Even Target:: Anticipates breakeven at $17.3 million quarterly net revenue, including $10 million allocated for EXXUA launch costs.

Operational Highlights and EXXUA Launch Preparations

The company is on track with its EXXUA launch preparations, having achieved key milestones such as finalizing product manufacturing, labeling, and serialization, as well as nearing completion of sales force training. Aytu's RxConnect platform is expected to play a crucial role in the distribution and dispensing of EXXUA, having dispensed approximately 85% of its branded ADHD prescriptions. Physician surveys have shown positive feedback regarding EXXUA's effectiveness, indicating a potential game-changing opportunity in treating depression symptoms without critical side effects.

Financial Guidance and Expectations

Aytu expects to maintain an operating expense level of about $10 million per quarter, with an incremental investment of $10 million for the EXXUA launch in FY2026. The company anticipates breaking even at around $17.3 million of net revenue per quarter, including EXXUA spends. The initial product load-in for EXXUA is expected in the second fiscal quarter of 2026, with revenue growth anticipated to ramp up in the subsequent quarters. Analysts estimate a revenue growth of -20.2% for the next year.

Valuation Insights

With a P/S Ratio of 0.19 and an EV/EBITDA of -1.0, the market seems to have tempered expectations for Aytu BioPharma, reflecting the challenges and investments associated with the EXXUA launch. The company's ROE and ROIC stand at -47.4% and -11.15%, respectively, indicating the current strain of investments on profitability. As the EXXUA launch progresses, the potential for high peak sales and the anticipated coverage rate could be key drivers for the company's future performance.

3. NewsRoom

Card image cap

Aytu BioPharma to Participate in Noble Capital Markets 21st Annual Emerging Growth Equity Conference

Nov -24

Source: accessnewswire.com

Card image cap

Aytu BioPharma, Inc. (AYTU) Q1 2026 Earnings Call Transcript

Nov -14

Source: seekingalpha.com

Card image cap

Aytu BioPharma Inc. (AYTU) Reports Q1 Loss, Tops Revenue Estimates

Nov -13

Source: zacks.com

Card image cap

Aytu BioPharma Reports Fiscal 2026 First Quarter Operational and Financial Results

Nov -13

Source: accessnewswire.com

Card image cap

Aytu BioPharma to Report Fiscal 2026 First Quarter Operational and Financial Results on November 13, 2025

Nov -05

Source: accessnewswire.com

Card image cap

Aytu BioPharma Announces Patent Term Extension for EXXUA(TM)

Oct -28

Source: accessnewswire.com

Card image cap

New Strong Sell Stocks for Oct. 13th

Oct -13

Source: zacks.com

Card image cap

Aytu BioPharma to Present at Upcoming October 2025 Conferences

Oct -10

Source: accessnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.00%)

6. Segments

Aytu Bioscience

Expected Growth: 3.0%

Aytu Bioscience's 3.0 growth is driven by increasing demand for its unique portfolio of prescription medications, including Natesto and ZolpiMist, as well as its growing presence in the pediatrics and orthopedics markets. Additionally, strategic partnerships and acquisitions have expanded its product offerings and geographic reach, contributing to its rapid growth.

Aytu Consumer Health

Expected Growth: 3.0%

Aytu Consumer Health's 3.0 growth is driven by increasing demand for over-the-counter (OTC) healthcare products, strategic acquisitions, and expansion into new markets. The segment benefits from a strong brand portfolio, including Zolpimist and Cerevate, and a growing e-commerce presence. Additionally, Aytu's focus on product innovation and marketing efforts contribute to its growth momentum.

7. Detailed Products

Natesto

A nasal gel for testosterone replacement therapy in hypogonadal men.

Tuzistra XR

An extended-release oral suspension for the treatment of cough and upper respiratory symptoms.

ZolpiMist

An oral spray for the treatment of insomnia.

Cefaclor

An oral antibiotic for the treatment of bacterial infections.

Karbate

A prescription prenatal vitamin for pregnant women.

8. Aytu BioPharma, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Aytu BioPharma, Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the ongoing research and development in the pharmaceutical industry.

Bargaining Power Of Customers

Aytu BioPharma, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's products are specialized, making it difficult for customers to switch to alternative suppliers.

Bargaining Power Of Suppliers

Aytu BioPharma, Inc. relies on a limited number of suppliers for its raw materials and services. While the company has some bargaining power due to its size, suppliers still have some leverage in negotiations.

Threat Of New Entrants

The pharmaceutical industry has high barriers to entry, including significant regulatory hurdles and high research and development costs. This makes it difficult for new entrants to enter the market and compete with established players like Aytu BioPharma, Inc.

Intensity Of Rivalry

The pharmaceutical industry is highly competitive, with many established players competing for market share. Aytu BioPharma, Inc. faces intense competition from other companies with similar products and pipelines.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 29.36%
Debt Cost 3.95%
Equity Weight 70.64%
Equity Cost -2.22%
WACC -0.41%
Leverage 41.57%

11. Quality Control: Aytu BioPharma, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Supernus Pharmaceuticals

A-Score: 5.3/10

Value: 2.6

Growth: 6.0

Quality: 7.6

Yield: 0.0

Momentum: 9.0

Volatility: 6.7

1-Year Total Return ->

View Full Report
Stock-Card
Amphastar Pharmaceuticals

A-Score: 4.8/10

Value: 7.1

Growth: 8.8

Quality: 8.0

Yield: 0.0

Momentum: 0.0

Volatility: 4.7

1-Year Total Return ->

View Full Report
Stock-Card
Journey Medical

A-Score: 4.0/10

Value: 6.6

Growth: 3.3

Quality: 4.3

Yield: 0.0

Momentum: 8.0

Volatility: 2.0

1-Year Total Return ->

View Full Report
Stock-Card
PetIQ

A-Score: 3.5/10

Value: 3.6

Growth: 7.8

Quality: 3.1

Yield: 0.0

Momentum: 5.0

Volatility: 1.7

1-Year Total Return ->

View Full Report
Stock-Card
Aytu BioPharma

A-Score: 3.4/10

Value: 9.6

Growth: 4.8

Quality: 4.4

Yield: 0.0

Momentum: 1.0

Volatility: 0.7

1-Year Total Return ->

View Full Report
Stock-Card
Alimera Sciences

A-Score: 2.5/10

Value: 2.4

Growth: 4.7

Quality: 2.3

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

2.22$

Current Price

2.22$

Potential

0.00%

Expected Cash-Flows