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aytu biopharma报告了2024财政年度和第四季度的业务和财务结果

全年财政2024年度的综合净收入为8100万美元；处方药物业务部门的净收入为6520万美元

2024财政年度整年ADHD产品组合的净营业收入较2023财政年度增长23%。

整个2024财政年度调整后的息税折旧及摊销前利润(EBITDA)¹ 改善至920万美元，较2023财政年度增加570万美元

2024年6月30日，现金余额为2000万美元

公司预期到2025财年，处方药品部门的网络营业收入和调整后的EBITDA将从目前水平增长。

公司将于今天9月26日下午4:30（美东时间）举行电话会议和网络广播。

丹佛, 科罗拉多州 / 九月二十六日, 2024 Aytu BioPharma，Inc.（简称“公司”或“Aytu”）（纳斯达克: AYTU），一家专注于商业化新型治疗药品的制药公司，今天宣布了2024财政年度和第四季度的营运和财务结果。

2024财政年度全年要点

2024财政第四季要点

管理层讨论

「在2024财政年度，我们继续成功地将Aytu重新定位为一家专注于商业化新处方药品的增长型专业药品公司。在过去的一年里，我们成功地减少了我们的消费业务，并随后宣布出售，该业务于2024年7月完成。我们更加专注于我们高毛利的处方药品业务，再加上成功实施了许多节约成本的措施，使得2024财政年度的调整后税前息税折旧前(EBITDA)达到920万美元，相比于2023财政年度的350万美元，提高了162%」，Aytu的首席执行官Josh Disbrow评论道。「更令人印象深刻的是，仅仅两年前，我们的调整后EBITDA是负的2150万美元，突显出过去两年超过3亿美元的正向变化。展望未来，我们将继续专注于推动处方增长，并利用我们商业平台的独特能力，包括Aytu RxConnect。这个独特计划透过透明和可预测的药品定价，为患者和医疗提供者提供极大的好处，推动未来收入增长和效率。」

在我们的处方营业收入部门，我们的ADHD组合净营业收入全年增加了23％，并在财政年度下半年出现了8％的年度增长。此外，我们的儿童组合仍受到2023年9月发生的支付者变更的影响，但我们仍坚信儿童组合将从目前的水平中重新回归增长。我们已实施了多项商业倡议，让我们相信可以在全儿童组合范围内恢复增长模式。我们看到这些增长倡议正在产生早期动力，因为自2024年7月1日至2024年9月25日，儿童产品的出货量增加了115％。我们仍专注于推动处方需求，改进整个组合的覆盖范围和病人访问，我们完全预期从2024财政年度水平看到处方营业收入部门净营业收入和调整后EBITDA在财政2025年度全年增长。

「我们实施的战略和运营措施使我们能够保持强势的现金储备，截至财政年度结束时超过2000万美元。这项成功的执行获得了积极的财务认可，并从行使了部分认股权证中获得了350万美元的收益，其中一部分被用作资本来源，用于偿还我们现有的授信贷款，以持续加强我们的资产负债表。我们还成功地对我们现有的授信贷款进行了再融资，在第四季度以对公司更有利的条件延长了我们的循环信贷额度。我们相信，通过对现金流量和盈利的战略重点，我们将继续通过营业收入增长和底线改善进一步增强公司的财务概况。」

非核心业务更新

公司于2023年6月宣布，已实施一项专注于其处方药业务的战略命令，以推动长期股东价值。公司已为2024财年和2023财年，以及过去九个报告季度中的八个报告季度的处方药业务实现正调整后的EBITDA正值，不包括消费部门和管线研发（「处方药业务」）。这种专注于处方药业务的做法，是继2024年7月成功完成消费部门的逐渐退出和出售后的成果。

强调盈利能力的目标最初始于2022年10月宣布无限期暂停所有管线临床开发项目，以最小化研发支出，直到公司能够用内部产生的现金流或通过战略合作伙伴基金支持这些努力。 在2023财年，消费健康板块贡献了-360万美元的调整后EBITDA，管线项目贡献了-260万美元的调整后EBITDA，而公司的处方药业务贡献了970万美元的调整后EBITDA。到2024财年，公司的处方药业务贡献了1080万美元的调整后EBITDA。

《修订和重新制定的2020年The Aaron's Company, Inc.股权和激励计划》，（参考到2024年5月16日提交给美国证券交易委员会的S-8表格附注4.3）。

⁽¹⁾其他包括已停产或优先级降低的产品。

全年度2024财务业绩

全年2024财政年度营业收入为8100万美元，较上一年期间的10740万美元下降。此变动主要反映公司正在逐步淘汰消费业务部门，作为将业务专注于处方药品部门的战略要求的一部分，以提高长期股东价值。

Net revenue from the Rx Segment for the full year of fiscal 2024 was $65.2 million compared to $73.8 million in the prior year period. The ADHD Portfolio (Adzenys XR-ODT® and Cotempla XR-ODT®) experienced a 23% increase in net revenue to $57.8 million for full year fiscal 2024, compared to the prior year period. The Pediatric Portfolio (Karbinal® ER, Poly-Vi-Flor® and Tri-Vi-Flor®) net revenue decreased to $7.3 million largely due to payor changes that impacted prescriptions. Pediatric Portfolio unit shipments have increased 115% from July 1, 2024, through September 25, 2024.

Net revenue from the Consumer Health Segment was $15.8 million for full year fiscal 2024, a decrease of 53% over the same period last year. As previously announced, the Company completed the wind down and divestiture of its Consumer Health Segment in July of 2024 and expects that discontinuing this segment will improve operating cash flows and drive long-term stockholder value.

Consolidated gross profit was $54.6 million, or 67% of net revenue, for full year fiscal 2024, compared to $66.6 million, or 62% of net revenue, in the same period last year. Gross profit margin for the Rx Segment was 75% for full year fiscal 2024, compared with 71% in the prior year period.

Operating expenses, excluding amortization of intangible assets, restructuring costs, impairment expense and gain from contingent consideration, were $52.3 million for full year fiscal 2024 compared to $74.2 million in the prior year period. The decrease was a result of reduced Consumer Health spending and improved operational efficiencies.

Loss from operations for full year fiscal 2024 was $5.3 million compared to $17.1 million in the prior year period.

Net loss for full year fiscal 2024 was $15.8 million, or $2.86 net loss per share, compared to a $17.1 million net loss, or $5.11 net loss per share, in the prior year period. The fiscal 2024 full year results were impacted by $2.4 million of restructuring costs and $0.7 million of inventory impairment associated with the previously announced wind down of the Consumer Health Segment and Grand Prairie, Texas manufacturing facility as well as $4.4 million of derivative warrant liabilities loss due primarily to the increase in the Company’s stock price, $0.6 million loss on extinguishment of debt, and $1.8 million of income tax expense.

Consolidated adjusted EBITDA was $9.2 million for full year fiscal 2024, compared to $3.5 million in the prior year period, a $5.7 million increase. Adjusted EBITDA for the Rx Business was $10.8 million for full year fiscal 2024, compared to $9.7 million in the prior year period, a $1.2 million increase.

Cash and cash equivalents at June 30, 2024, were $20.0 million compared to $23.0 million at June 30, 2024.

Q4 Fiscal 2024 Financial Results

Net revenue for the fourth quarter of fiscal 2024 was $18.0 million, compared to $30.7 million for the prior year period.

Net revenue from the Rx Segment in the fourth quarter of fiscal 2024 was $14.6 million compared to $23.3 million in the prior year period. The ADHD Portfolio (Adzenys XR-ODT® and Cotempla XR-ODT®) experienced a 13% decrease in net revenue to $13.8 million in the fourth quarter of fiscal 2024, compared to the prior year period, largely as a result of normalization of the ADHD market supply chain. Net revenue for the ADHD Portfolio increased 8% to $26.1 million in the second half of fiscal 2024 versus $24.1 million in the second half of fiscal 2023. This net revenue growth was achieved despite the ADHD market supply chain normalization that occurred in the second half of 2024. The Pediatric Portfolio (Karbinal® ER, Poly-Vi-Flor® and Tri-Vi-Flor®) net revenue decreased to $0.8 million largely due to payor changes that impacted prescriptions. Growth of the ADHD Portfolio and Pediatric Portfolio is expected in fiscal 2025. Pediatric Portfolio unit shipments have increased 115% from July 1, 2024, through September 25, 2024.

Net revenue from the Consumer Health Segment was $3.4 million in the fourth quarter of fiscal 2024, a decrease of 54% over the same quarter last year. As previously announced, the Company completed the wind down and divestiture of its Consumer Health Segment in July of 2024 and expects that discontinuing this segment will improve operating cash flows and drive long-term stockholder value.

Consolidated gross profit was $11.9 million, or 66% of net revenue, in the fourth quarter of fiscal 2024, compared to $18.6 million, or 60% of net revenue, in the same quarter last year. Gross profit margin for the Rx Segment was 76% in the fourth quarter of fiscal 2024, compared with 75% in the prior year period.

Operating expenses, excluding amortization of intangible assets, restructuring costs, impairment expense and gain from contingent consideration, were $12.1 million in the fourth quarter of fiscal 2024 compared to $14.6 million in the prior year period. The decrease was a result of reduced Consumer Health spending and improved operational efficiencies.

Loss from operations during the fourth quarter of fiscal 2024 was $3.7 million compared to income from operations of $0.2 million in the prior year period.

Net loss during the fourth quarter of fiscal 2024 was $4.6 million, or $0.82 net loss per share, compared to a $2.5 million net loss, or $0.59 net loss per share, in the prior year period. The fiscal 2024 fourth quarter results were impacted by $2.1 million of restructuring costs and $0.7 million of inventory impairment associated with the previously announced wind down of the Consumer Health Segment and Grand Prairie, Texas manufacturing facility as well as $1.5 million of derivative warrant liabilities gain due primarily to the decrease in the Company’s stock price, $0.6 million loss on extinguishment of debt, and $0.7 million of income tax expense.

Consolidated adjusted EBITDA was $1.5 million in the fourth quarter of fiscal 2024, compared to $7.7 million in the prior year period, a $6.2 million decrease resulting largely from the decrease in the Pediatric Portfolio net revenue. Adjusted EBITDA for the Rx Business was $2.0 million in the fourth quarter of fiscal 2024, compared to $8.3 million in the prior year period, a $6.2 million decrease.

Conference Call Details

Date and Time: Thursday, September 26, 2024, at 4:30 p.m. Eastern time.

Call-in Information: Interested parties can access the conference call by dialing (888) 506-0062 for United States callers or +1 (973) 528-0011 for international callers and using the participant access code 216512.

Webcast Information: The webcast will be accessible live and archived at https://www.webcaster4.com/Webcast/Page/2142/51231, and accessible on the Investors section of the Company’s website at https://investors.aytubio.com/ under Events & Presentations.

Replay: A teleconference replay of the call will be available until October 10, 2024, at (877) 481-4010 for United States callers or +1 (919) 882-2331 for international callers and using replay access code 51231.

About Aytu BioPharma, Inc.

Aytu is a pharmaceutical company focused on commercializing novel therapeutics. The Company’s prescription products include Adzenys XR-ODT® (amphetamine) extended-release orally disintegrating tablets (see Full Prescribing Information, including Boxed WARNING) and Cotempla XR-ODT® (methylphenidate) extended-release orally disintegrating tablets (see Full Prescribing Information, including Boxed WARNING) for the treatment of attention deficit hyperactivity disorder (ADHD), Karbinal® ER (carbinoxamine maleate), an extended-release antihistamine suspension indicated to treat numerous allergic conditions, and Poly-Vi-Flor® and Tri-Vi-Flor®, two complementary fluoride-based prescription vitamin product lines available in various formulations for infants and children with fluoride deficiency. To learn more, please visit aytubio.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”). All statements other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are generally written in the future tense and/or are preceded by words such as “may,” “will,” “should,” “forecast,” “could,” “expect,” “suggest,” “believe,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. All statements other than statements of historical facts contained in this presentation, are forward-looking statements. These statements are predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include, among others, risks associated with: the Company’s plans relating to the Company’s ability to efficiently wind down the Consumer Health Segment, the Company’s ability to complete the manufacturing transfer of Adzenys XR-ODT® and Cotempla XR-ODT®, the Company’s overall financial and operational performance, potential adverse changes to the Company’s financial position or our business, the results of operations, strategy and plans, changes in capital markets and the ability of the Company to finance operations in the manner expected, risks relating to gaining market acceptance of our products, our partners performing their required activities, our anticipated future cash position, regulatory and compliance challenges and future events under current and potential future collaborations. We also refer you to (i) the risks described in “Risk Factors” in Part I, Item 1A of our most recent Annual Report on Form 10‑K and in the other reports and documents it files with the United States Securities and Exchange Commission.

Footnote 1

Aytu uses the term adjusted EBITDA, which is a term not defined under United States generally accepted accounting principles (“U.S. GAAP”). The Company uses this term because it is a widely accepted financial indicator utilized to analyze and compare companies on the basis of operating performance. The Company believes that presenting adjusted EBITDA by certain categories allows investors to evaluate the various performance of these categories. The Company’s method of computation of adjusted EBITDA may or may not be comparable to other similarly titled measures used by other companies. We believe that net income (loss) is the performance measure calculated and presented in accordance with U.S. GAAP that is most directly comparable to adjusted EBITDA. See below for a reconciliation of net income (loss) to adjusted EBITDA.

Contacts for Investors

Mark Oki, Chief Financial Officer

Aytu BioPharma, Inc.

moki@aytubio.com

Robert Blum or Roger Weiss

Lytham Partners

aytu@lythampartners.com

Aytu BioPharma, Inc.

Consolidated Statements of Operations

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Consolidated Balance Sheets

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Aytu BioPharma, Inc.

Reconciliation of Net Loss to Adjusted EBITDA - Twelve Months Ended

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Reconciliation of Net Income (Loss) to Adjusted EBITDA - Three Months Ended

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