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Aytu BioPharma Inc. (AYTU-2.17%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a decrease in net revenue to $16.2 million for the quarter, down from $18.7 million in the same quarter of the previous year. The decrease is attributed to a decline in sales from the ADHD Portfolio due to a return to normalized market conditions following previous competitor shortages.
Cost of sales increased to $5.4 million, resulting in a gross profit of $10.8 million, compared to $14.6 million in the previous year. The increase in cost of sales is related to the sale of self-manufactured inventory with higher associated fixed costs.
Operating expenses totaled $12.5 million, slightly up from $11.5 million in the previous year, primarily due to $1.3 million in restructuring costs.
The company reported a net income of $0.8 million for the quarter, compared to a net loss of $0.2 million in the previous year. This was influenced by a $3.0 million gain from the adjustment of derivative warrant liabilities.
Cash provided by operating activities was $1.7 million, while cash used in investing and financing activities was $0.5 million and $1.8 million, respectively.
Aytu BioPharma had $20.4 million in cash and cash equivalents as of December 31, 2024. The company continues to focus on its ADHD and Pediatric Portfolios and has entered into international agreements to expand the commercialization of its products.
The filing also details ongoing litigation, including a patent infringement lawsuit against Granules Pharmaceuticals, and the settlement of a stockholder derivative suit related to past acquisitions.
Aytu BioPharma has identified risks related to market conditions, including potential impacts from geopolitical events and supply chain disruptions. The company continues to evaluate strategic transactions to enhance stockholder value.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aytu BioPharma Inc. quarterly 10-Q report dated February 12, 2025. To report an error, please email earnings@qz.com.