Aytu BioPharma Plans To Divest / Discontinue Non Core Assets - Aytu BioPharma (NASDAQ:AYTU)

Aytu BioPharma Inc AYTU will divest or discontinue non-core, unprofitable products, including Cefaclor, Flexichamber, Tuzistra XR, generic Tussionex, and Zolpimist.
Aytu expects to improve gross margins for its ADHD product franchise by transferring manufacturing to a well-established, global commercial manufacturing organization, a transition expected to occur in mid-2023.
Aytu is commercializing two novel Attention Deficit Hyperactivity Disorder (ADHD) products, Adzenys XR-ODT and Cotempla XR-ODT, and pediatric products Poly-Vi-Flor, Tri-Vi-Flor, and Karbinal ER.
Aytu has grown its ADHD prescriptions by 11% Y/Y YTD and its pediatric prescriptions by 18%.
Q3 sales increased 79% Y/Y to $24.2M, the highest revenue in company history.
Cash and cash equivalents totaled $27.6 million as of March 31.
The company reported a Q3 loss of $(53.1) compared to $(25.5) million a year ago, impacted by an impairment charge of $45.2 million.
Price Action: Monday, AYTU shares closed 5.85% lower at $0.49 on Monday.