Aytu BioPharma(US:AYTU)2022-11-14 22:02Financial Performance - FY 2022 total net revenue increased 47% to $96.7 million from $65.6 million in FY 2021[4] - Rx Segment net revenue was $61.1 million, compared to $32.7 million last year, a growth of 87%[4] - Consumer Health net product revenue was $35.5 million, an increase of 8% compared to $33.0 million in FY 2021[4] - Q4 2022 Rx segment Adjusted EBITDA was a positive $1.1 million, while Consumer Health was a negative $2.1 million[4] - Commercial Operations (excluding Pipeline R&D) Adjusted EBITDA was $(961,000) during Q4 FY 2022[10] Strategic Shift and Cost Reduction - Aytu expects to generate positive quarterly Adjusted EBITDA by the end of FY 2023[4, 10] - A strategic shift to focus on Commercial Operations and indefinitely suspended all clinical development programs is expected to save >$20 million over three years[10] - Manufacturing outsourcing is expected to improve the gross profit margin of ADHD products by 15% or more[30, 50] Market Dynamics and Growth Drivers - Widespread shortages of Adderall XR generics were reported in September & October of 2022, presenting an opportunity for Adzenys XR-ODT[4, 19] - In 2021, approximately 84.8 million prescriptions for medications with ADHD labeling were written in the United States and generated approximately $22.6 billion in sales[19] - Aytu RxConnect drives value with a 49% reduction in patient out-of-pocket expenses, 2X improvement in Aytu margin, and 41% increase in Rx refills[26]