Aytu BioPharma(US:AYTU)2025-11-13 21:11Financial Performance - For the three months ended September 30, 2025, net revenue decreased by $2.7 million, or 16%, to $13.9 million compared to $16.6 million for the same period in 2024[127]. - Gross profit for the same period decreased by $2.8 million, or 23%, to $9.2 million, with a gross profit percentage of 66% compared to 72% in 2024[129]. - The ADHD Portfolio generated $13.2 million in revenue, down from $15.3 million, a decrease of $2.1 million, while the Pediatric Portfolio revenue fell to $0.7 million from $1.3 million[128]. Expenses - Selling and marketing expenses decreased by $0.3 million, or 6%, to $5.3 million, primarily due to reduced commission expenses[130]. - General and administrative expenses decreased by $0.2 million, or 4%, to $4.9 million, attributed to cost reduction efforts[131]. - Research and development expenses were zero for the three months ended September 30, 2025, compared to $0.4 million in the same period in 2024, due to the suspension of development programs[133]. - Interest expense decreased by $0.5 million, or 48%, to $0.5 million, primarily due to the paydown of fixed payment arrangements[137]. Gains and Collaborations - The company recognized a gain of $3.8 million from derivative warrant liabilities for the three months ended September 30, 2025, compared to $2.9 million in 2024[138]. - The company anticipates launching EXXUA, a new antidepressant, in the second quarter of fiscal 2026, which is expected to be a major growth catalyst[120]. - The company has entered into exclusive collaboration agreements for ADHD products in Israel and Canada, with local partners responsible for regulatory approvals and marketing[123]. Financing Activities - The company filed a shelf registration statement covering the offering of up to $100.0 million of various securities, with $100.0 million remaining available as of the report date[142]. - In June 2025, the company raised gross proceeds of $16.6 million from the issuance of 2,806,688 shares of common stock at $1.50 per share and 8,233,332 prefunded warrants[143]. - Net cash provided by financing activities was $2.3 million for the three months ended September 30, 2025, primarily from $5.8 million of net proceeds from the Eclipse Revolving Loan[151]. Cash Flow and Debt - During the three months ended September 30, 2025, net cash used in operating activities was $0.6 million, an improvement of $572,000 compared to $1.2 million in the same period of 2024[146][148]. - The Eclipse Term Loan has an outstanding principal amount of $13.0 million with an interest rate of SOFR plus 7.0%, maturing on June 12, 2029[145]. - The Eclipse Revolving Loan has a maximum borrowing base of $14.5 million at an interest rate of SOFR plus 4.5%[145]. - The company had no remaining fixed payment arrangement accruals related to the acquisition of pediatric products from Cerecor, Inc. as of September 30, 2025[155]. - The company reported a decrease in accrued liabilities and an increase in accounts receivable, impacting cash flows during the three months ended September 30, 2025[148]. - There was no net cash provided by or used in investing activities during the three months ended September 30, 2025[150]. - The company has not entered into any off-balance sheet arrangements that could materially affect its financial condition[158].