Aytu BioPharma (AYTU) 10-Q 9 Feb 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2016	Feb. 01, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	AYTU BIOSCIENCE, INC
Entity Central Index Key	1,385,818
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Trading Symbol	AYTU
Entity Common Stock, Shares Outstanding		10,845,566

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2016	Jun. 30, 2016
Current assets
Cash and cash equivalents	$ 5,230,394	$ 8,054,190
Restricted cash	75,062	0
Accounts receivable, net	582,393	162,427
Inventory, net	438,966	524,707
Prepaid expenses and other	436,573	215,558
Prepaid research and development - related party (Note 10)	121,983	121,983
Investment in Acerus	1,272,298	1,041,362
Total current assets	8,157,669	10,120,227
Fixed assets, net	292,169	231,430
Developed technology, net	1,076,903	1,159,736
Customer contracts, net	1,249,875	1,353,375
Trade names, net	178,806	194,472
Natesto asset, net	9,890,435	10,549,797
Goodwill	221,000	221,000
Patents, net	283,944	296,611
Long-term portion of prepaid research and development - related party (Note 10)	152,479	213,471
Deposits	2,888	2,888
Total long-term assets	13,348,499	14,222,780
Total assets	21,506,168	24,343,007
Current liabilities
Accounts payable and accrued liabilities	2,445,849	3,519,711
Natesto payable	4,000,000	5,379,675
Accrued compensation	519,498	1,200,930
Deferred Rent	6,187	4,109
Total current liabilities	6,971,534	10,104,425
Contingent consideration	4,003,229	3,869,122
Deferred rent	4,787	8,215
Warrant derivative liability	79,844	275,992
Total liabilities	11,059,394	14,257,754
Commitments and contingencies (Note 6)
Stockholders' equity
Preferred Stock, par value $.0001; 50,000,000 shares authorized; none issued	0	0
Common Stock, par value $.0001; 100,000,000 shares authorized; shares issued and outstanding 10,845,566 (unaudited) and 3,741,944, respectively as of December 31, 2016 and June 30, 2016	1,085	374
Additional paid-in capital	67,548,690	56,646,304
Accumulated deficit	(57,103,001)	(46,561,425)
Total stockholders' equity	10,446,774	10,085,253
Total liabilities and stockholders' equity	$ 21,506,168	$ 24,343,007

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Jun. 30, 2016
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized shares	50,000,000	50,000,000
Preferred stock, issued shares	0	0
Common Stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	10,845,566	3,741,944
Common stock, outstanding shares	10,845,566	3,741,944

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Product and service revenue	$ 794,172	$ 447,786	$ 1,492,152	$ 913,742
License revenue	0	21,428	0	42,857
Total revenue	794,172	469,214	1,492,152	956,599
Operating expenses
Cost of sales	551,293	244,100	743,217	281,425
Research and development	263,457	1,308,460	495,479	2,164,334
Research and development - related party (Note 10)	47,998	47,998	95,996	95,996
Sales, general and administrative	3,642,332	1,687,724	9,347,082	3,250,903
Sales, general and administrative - related party (Note 10)	50,772	86,443	101,544	175,068
Amortization of finite-lived intangible assets	437,014	108,489	874,029	165,936
Total operating expenses	4,992,866	3,483,214	11,657,347	6,133,662
Loss from operations	(4,198,694)	(3,014,000)	(10,165,195)	(5,177,063)
Other (expense) income
Interest (expense)	(388,085)	(240,214)	(803,465)	(353,467)
Derivative income (expense)	266,757	(78,166)	196,148	(78,038)
Unrealized (loss) gain on investment	(497,164)	0	230,936	0
Total other (expense) income	(618,492)	(318,380)	(376,381)	(431,505)
Net loss	$ (4,817,186)	$ (3,332,380)	$ (10,541,576)	$ (5,608,568)
Weighted average number of Aytu common shares outstanding (in shares)	7,850,790	1,188,308	5,910,910	1,188,308
Basic and diluted Aytu net loss per common share (in dollars per share)	$ (0.61)	$ (2.8)	$ (1.78)	$ (4.72)

Statement of Stockholders' Equi

Statement of Stockholders' Equity - 6 months ended Dec. 31, 2016 - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance at Jun. 30, 2016	$ 10,085,253	$ 374	$ 56,646,304	$ (46,561,425)
Balance (in shares) at Jun. 30, 2016		3,741,944
Lincoln Park Capital stock issuance, net of $24,247 in issuance costs (unaudited)	607,234	$ 23	607,211	0
Lincoln Park Capital stock issuance, net of $24,247 in issuance costs (unaudited) ( in shares)		226,190
Issuance of restricted stock	156,814	$ 100	156,714	0
Issuance of restricted stock (in shares)		1,000,000
Common stock issued to executives (unaudited)	509,996	$ 14	509,982	0
Common stock issued to executives (unaudited) (in shares)		142,457
Issuance of warrants to initial investors (unaudited)	596,434	$ 0	596,434	0
Issuance of common stock, net of $997,865 in cash issuance costs (unaudited)	3,671,581	$ 574	3,671,007
Issuance of common stock, net of $997,865 in cash issuance costs (unaudited) (in shares)		5,734,975
Warrants issued in connection with equity financing (unaudited)	3,470,646	$ 0	3,470,646	0
Warrants issued in connection with equity financing to the placement agents for the over-allotment option (unaudited)	172,629	0	172,629	0
Warrants issued in connection with equity financing to the placement agents, non-cash issuance costs (unaudited)	292,630	0	292,630	0
Stock-based compensation	1,425,133	0	1,425,133	0
Net loss	(10,541,576)	0	0	(10,541,576)
Balance at Dec. 31, 2016	$ 10,446,774	$ 1,085	$ 67,548,690	$ (57,103,001)
Balance (in shares) at Dec. 31, 2016		10,845,566

Statement of Stockholders' Equ6

Statement of Stockholders' Equity (Parenthetical)	6 Months Ended
	Dec. 31, 2016USD ($)
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 997,865
Lincoln Park [Member]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 24,247

Statements of Cash Flows

Statements of Cash Flows - USD ($)	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Net loss	$ (10,541,576)	$ (5,608,568)
Stock-based compensation expense	1,425,133	250,887
Depreciation, amortization and accretion	1,722,965	242,427
Issuance of restricted stock	156,814	0
Amortization of debt issuance costs	0	147,805
Derivative (income) expense	(196,148)	78,038
Amortization of prepaid research and development - related party (Note 10)	60,992	60,991
Common stock issued to executives	509,996	0
Issuance of warrants to initial investors	596,434	0
Unrealized (gain) on investment	(230,936)	0
Adjustments to reconcile net loss to net cash used in operating activities:
(Increase) in accounts receivable	(419,966)	(131,408)
Decrease (increase) in inventory	85,741	(613,673)
(Increase) in prepaid expenses and other	(221,015)	(370,656)
(Decrease) in accounts payable and accrued liabilities	(434,231)	(126,781)
Increase in related party payable	0	38,451
(Decrease) increase in accrued compensation	(681,432)	296,081
Increase in interest payable	0	161,988
(Decrease) increase in deferred rent	(1,350)	10,245
(Decrease) in deferred revenue	0	(42,857)
Net cash used in operating activities	(8,168,579)	(5,607,030)
Cash flows used in investing activities
Deposits	0	1,998
Purchases of fixed assets	(44,876)	(125,161)
Installment payment for Natesto asset	(2,000,000)	0
Installment payments for Primsol asset	(750,000)	(540,000)
Net cash used in investing activities	(2,794,876)	(663,163)
Cash flows from financing activities
Ampio stock subscription payment	0	5,000,000
Proceeds from convertible promissory notes, net	0	5,175,000
Debt issuance costs (Note 7)	0	(298,322)
Issuance of common stock to Lincoln Park Capital	631,481	0
Costs related to sale of common stock	(24,247)	0
Registered offering of common stock and warrants	8,602,500	0
Registered offering costs	(997,865)	0
Over-allotment warrants purchased by placement agents	2,852
Net cash provided by financing activities	8,214,721	9,876,678
Net change in cash, cash equivalents and restricted cash	(2,748,734)	3,606,485
Cash, cash equivalents and restricted cash at beginning of period	8,054,190	7,353,061
Cash, cash equivalents and restricted cash at end of period	5,230,394	10,959,546
Non-cash transactions:
Warrant derivative liability related to the issuance of the convertible promissory notes		102,931
Primsol business purchase included in primsol payable, $1,250,000 less future accretion of $173,000		1,077,000
Fixed assets included in accounts payable	61,241	7,708
Warrants issued in connection with the equity financing to the placement agents	$ 292,630	$ 0

Statements of Cash Flows (Paren

Statements of Cash Flows (Parenthetical) - USD ($)	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Primsol Business Purchase Included In Primsol Payable Gross	$ 1,250,000	$ 1,250,000
Standardized Measure of Discounted Future Net Cash Flow Relating to Proved Oil and Gas Reserves, Accretion of Discount	$ 173,000	$ 173,000

Business, Basis of Presentation

Business, Basis of Presentation and Business Combinations	6 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Business Description and Basis of Presentation [Text Block]	Note 1 - Business, Basis of Presentation and Business Combinations Business Aytu BioScience, Inc. (“Aytu”, the “Company” or “we”) was incorporated as Rosewind Corporation on August 9, 2002 in the State of Colorado. Aytu was re-incorporated in the state of Delaware on June 8, 2015. Aytu is a commercial-stage specialty pharmaceutical company focused on global commercialization of novel products in the field of urology. Aytu is currently focused on addressing significant medical needs in the areas of hypogonadism, urological cancers, urinary tract infections, and male infertility. These unaudited financial statements represent the financial statements of Aytu. These unaudited financial statements should be read in conjunction with Aytu’s Annual Report on Form 10-K for the year ended June 30, 2016, which included all disclosures required by generally accepted accounting principles (“GAAP”). In the opinion of management, these unaudited financial statements contain all adjustments necessary to present fairly the financial position of Aytu for the balance sheet, the results of operations and cash flows for the interim periods presented. The results of operations for the period ended December 31, 2016 are not necessarily indicative of expected operating results for the full year. The information presented throughout this report as of and for the period ended December 31, 2016 is unaudited. Through a multi-step reverse triangular merger, on April 16, 2015, Vyrix Pharmaceuticals, Inc. (‘‘Vyrix’’) and Luoxis Diagnostics, Inc. (‘‘Luoxis’’) merged with and into our Company (herein referred to as the Merger) and we abandoned our pre-Merger business plans to solely pursue the specialty healthcare market, including the business of Vyrix and Luoxis. In the Merger, we acquired the RedoxSYS, MiOXSYS and Zertane products. On June 8, 2015, we reincorporated as a domestic Delaware corporation under Delaware General Corporate Law and changed our name from Rosewind Corporation to Aytu BioScience, Inc., and effected a reverse stock split in which each common stockholder received one share of common stock for every 12.174 shares outstanding. On June 30, 2016, Aytu effected another reverse stock split in which each common stockholder received one share of common stock for every 12 shares outstanding (herein referred to collectively as the “Reverse Stock Splits”). All share and per share amounts in this report have been adjusted to reflect the effect of these Reverse Stock Splits. In May 2015, Aytu entered into and closed on an asset purchase agreement with Jazz Pharmaceuticals, Inc. (the “Seller”). Pursuant to the agreement, Aytu purchased assets related to the Seller’s product known as ProstaScint® (capromab pendetide), including certain intellectual property and contracts, and the product approvals, inventory and work in progress (together, the “ProstaScint Business”), and assumed certain of the Seller’s liabilities, including those related to product approvals and the sale and marketing of ProstaScint. The purchase price consisted of the upfront payment of $ 1.0 500,000 227,000 8 2.5 664,000 2.4 Fair Value Tangible assets $ 727,000 Intangible assets 1,590,000 Goodwill 74,000 Total assets acquired $ 2,391,000 Included in the intangible assets is developed technology of $ 790,000 720,000 80,000 40,000 80,000 As of December 31, 2016, the contingent consideration had increased to $ 730,000 Business Combination—Primsol In October 2015, Aytu entered into and closed on an Asset Purchase Agreement with FSC Laboratories, Inc. (the “Seller”). Pursuant to the agreement, Aytu purchased assets related to the Seller’s product known as Primsol® (trimethoprim solution), including certain intellectual property and contracts, inventory, work in progress and all marketing and sales assets and materials related solely to Primsol (together, the “Primsol Business”), and assumed certain of the Seller’s liabilities, including those related to the sale and marketing of Primsol arising after the closing. Aytu paid $ 500,000 142,000 102,000 40,000 500,000 500,000 250,000 Fair Value Tangible assets $ 182,000 Intangible assets 1,470,000 Goodwill 147,000 Total assets acquired $ 1,799,000 Included in tangible assets is $ 102,000 80,000 520,000 810,000 140,000 61,000 51,000 122,000 51,000 License and Supply Agreement—Natesto In April 2016, Aytu entered into and closed a license and supply agreement to acquire the exclusive U.S. rights to Natesto® (testosterone) nasal gel from Acerus Pharmaceuticals Corporation, or Acerus, which rights we acquired effective upon the expiration of the former licensee’s rights, which occurred on June 30, 2016. The license’s term runs for the greater of eight years or until the expiry of the latest to expire patent including claims covering Natesto and until the entry on the market of at least one AB-rated generic product. Aytu paid Acerus an upfront fee of $ 2.0 2,000,000 4.0 12,245,411 2,534,800 0.207 0.16 In addition to the upfront payments, we must make the following one-time, non-refundable payments to Acerus within 45 days of the occurrence of the following event (provided that, the maximum aggregate amount payable under such milestone payments will be $ 37,500,000 ⋅ $ 2,500,000 25,000,000 ⋅ $ 5,000,000 50,000,000 ⋅ $ 7,500,000 75,000,000 ⋅ $ 10,000,000 100,000,000 ⋅ $ 12,500,000 125,000,000 The fair value of the net identifiable asset acquired totaled $ 10.5 330,000 659,000 As of December 31, 2016, the accretion expense was $ 620,000 4.0 The contingent consideration was valued at $ 3.2 58,000 104,000 3.3 In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-18, "Statement of Cash Flows: Restricted Cash". The amendments address diversity in practice that exists in the classification and presentation of changes in restricted cash on the statement of cash flows. ASU 2016-18 is effective for the fiscal year commencing after December 15, 2017. As of the quarter ended December 31, 2016, the Company has early adopted this pronouncement, the impact of which was very minimal as the Company just recently set aside restricted cash, which is now shown on the statements of cash flows within cash and cash equivalents. In August 2016, the FASB issued ASU 2016-15 Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which provides guidance on the presentation of certain cash receipts and cash payments in the statement of cash flows in order to reduce diversity in existing practice. ASU 2016-15 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted. During the quarter ended September 30, 2016, the Company early adopted this standard. The primary cash flow categorization that will impact the Company will be contingent consideration payments, however, no such payments have been made to date. Recently Issued Accounting Pronouncements, Not Adopted as of December 31, 2016 In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805) Clarifying the Definition of a Business.” The amendment clarifies the definition of a business, which is fundamental in the determination of whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This determination is important given the diverging accounting models used for each type of transaction. The guidance is generally expected to result in fewer transactions qualifying as business combinations. The amendment is effective prospectively for public business entities for annual periods beginning after December 15, 2017, including interim periods within those periods. Early adoption is permitted. The Company does not expect an immediate impact from this codification however, if Aytu seeks to purchase additional assets in the future it could have an impact if that purchase is accounted for as a business combination or an asset purchase. In March 2016, the FASB issued ASU 2016-09, “Compensation –Stock Compensation (Topic 718): Improvements to Employee Share Based Payment Accounting”. The standard includes multiple provisions intended to simplify various aspects of the accounting for share based payments. The amendments are expected to impact net income, earnings per share, and the statement of cash flows. Implementation and administration may present challenges to companies with significant share based payment activities. The amendments are effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted in any interim or annual period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of this standard on its financial statements however, the Company believes that the impact will not be material. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for leases for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the impact of its adoption of this standard on its financial statements. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which requires that all equity investments be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendment is effective for financial statements issued for fiscal years beginning after December 15, 2017. Early adoption is not permitted. The Company is currently evaluating the impact of this standard on its financial statements. In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory.” ASU 2015-11 clarifies that inventory should be held at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price, less the estimated costs to complete, dispose and transport such inventory. ASU 2015-11 will be effective for fiscal years and interim periods beginning after December 15, 2016. ASU 2015-11 is required to be applied prospectively and early adoption is permitted. The adoption of ASU 2015-11, when required, is not expected to have a material impact on the Company’s financial statements. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for reporting periods ending after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact the adoption of ASU 2014-15 will have on its financial statements. In May 2014, the FASB issuing ASU 2014-09, Topic 606, Revenue from Contracts with Customers (the "New Revenue Standard"). The amendments in this ASU provide a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the new ASU is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of the New Revenue Standard. In 2016, the FASB issued ASU 2016-08, ASU 2016-10, ASU 2016-11, and ASU 2016-12 to clarify, among other things, the implementation guidance related to principal versus agent considerations, identifying performance obligations, and accounting for licenses of intellectual property. The New Revenue Standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application is not permitted. The amendments in this update are to be applied on a retrospective basis, either to each prior reporting period presented or by presenting the cumulative effect of applying the update recognized at the date of initial application. The New Revenue Standard will be effective for the Company in fiscal 2019. The Company is evaluating the adoption methodology and the impact of this ASU on its financial statements.

Fixed Assets

Fixed Assets	6 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 2 – Fixed Assets Estimated As of December 31, As of June 30, Useful Lives in years 2016 2016 Office equipment and furniture 3 - 5 $ 240,000 $ 201,000 Leasehold improvements 3 112,000 45,000 Lab equipment 3 - 5 90,000 90,000 Manufacturing equipment 5 7,000 7,000 Less accumulated depreciation and amortization (157,000) (112,000) Fixed assets, net $ 292,000 $ 231,000 The depreciation expense was $ 26,000 12,000 45,000 19,000

Patents

Patents	6 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	Note 3 – Patents Costs of establishing patents, consisting of legal and filing fees paid to third parties, are expensed as incurred. The fair value of the Zertane patents, determined by an independent, third party appraisal to be $ 500,000 11 The cost of the ORP related patents was $ 380,000 15 As of December 31, As of June 30, 2016 2016 Patents $ 880,000 $ 880,000 Less accumulated amortization (596,000) (583,000) Patents, net $ 284,000 $ 297,000 The amortization expense was $ 6,000 18,000

Revenue Recognition

Revenue Recognition	6 Months Ended
	Dec. 31, 2016
Revenue Recognition [Abstract]
Revenue Recognition And License Agreement [Text Block]	Note 4 – Revenue Recognition The $ 794,000 448,000 1,492,000 914,000 The license revenue of $ 0 21,000 0 43,000 500,000 ten 250,000 seven At the end of fiscal 2016, Aytu determined that the Zertane asset had no value as Aytu did not have the resources to complete the necessary clinical trials and bring it to market before the patents expire. The remaining deferred revenue of $ 426,000

Fair Value Considerations

Fair Value Considerations	6 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Consideration [Text Block]	Note 5 – Fair Value Considerations Aytu’s financial instruments include cash, cash equivalents and restricted cash, accounts receivable, investments, accounts payable and accrued liabilities, and warrant derivative liability. The carrying amounts of cash, cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to their short maturities. The valuation policies are determined by the Chief Financial Officer and approved by the Company’s Board of Directors. Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of Aytu. Unobservable inputs are inputs that reflect Aytu’s assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on reliability of the inputs as follows: Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to Aytu for identical assets or liabilities; Level 2: Inputs that include quoted prices for similar assets and liabilities in active or inactive markets or that are observable for the asset or liability either directly or indirectly; and Level 3: Unobservable inputs that are supported by little or no market activity. Aytu’s assets and liabilities which are measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Aytu’s policy is to recognize transfers in and/or out of fair value hierarchy as of the date in which the event or change in circumstances caused the transfer. Aytu has consistently applied the valuation techniques discussed below in all periods presented. Fair Value Measurements Using Level 1 Level 2 Level 3 Total December 31, 2016 ASSETS Investment in Acerus $ 1,272,000 $ - $ - $ 1,272,000 LIABILITIES Warrant derivative liability $ - $ - $ 80,000 $ 80,000 Contingent consideration $ - $ - $ 4,003,000 $ 4,003,000 June 30, 2016 ASSETS Investment in Acerus $ 1,041,000 $ - $ - $ 1,041,000 LIABILITIES Warrant derivative liability $ - $ - $ 276,000 $ 276,000 Contingent consideration $ - $ - $ 3,869,000 $ 3,869,000 The estimated fair value of the Company’s investment in Acerus, which is classified as Level 1 (quoted price is available), was $ 1,272,000 Unrealized As of December 31, 2016 Maturity in Years Value at June 30, 2016 Gains Losses Fair Value Investment in Acerus Less than 1 year $ 1,041,000 $ 231,000 $ $ 1,272,000 The warrant derivative liability was valued using the Black-Scholes valuation methodology because that model embodies all of the relevant assumptions that address the features underlying these instruments. The warrants related to the warrant derivative liability are not actively traded and therefore classified as Level 3. December 31, 2016 At Issuance Warrants: Volatility 186.7 % 75.0 % Equivalent term (years) 4.34 5.00 Risk-free interest rate 1.33 % 1.32 % Dividend yield 0.00 % 0.00 % Derivative Instruments Balance as of June 30, 2016 $ 276,000 Warrant issuances - Change in fair value included in earnings (196,000) Balance as of December 31, 2016 $ 80,000

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 6 – Commitments and Contingencies Commitments and contingencies are described below and summarized by the following table for the designated fiscal years ending June 30, as of December 31, 2016: Remaining Total 2017 2018 2019 2020 2021 Thereafter Prescription database $ 1,736,000 $ 565,000 $ 598,000 $ 573,000 $ - $ - $ - Natesto 6,500,000 4,000,000 - - 2,500,000 - - Manufacturing/commercial supply agreements - - - - - - - Service agreement 72,000 72,000 - - - - - Office lease 247,000 72,000 145,000 30,000 - - - Sponsored research agreement with related party 41,000 41,000 - - - - - $ 8,596,000 $ 4,750,000 $ 743,000 $ 603,000 $ 2,500,000 $ - $ - Prescription Database In May 2016, Aytu entered into an agreement with a company that will provide Aytu with prescription database information, whereby Aytu agreed to pay approximately $ 1.9 Natesto In April 2016, the Company entered into an agreement with Acerus whereby Aytu agreed to pay $ 8.0 2.0 4.0 2.5 Manufacturing/Commercial Supply Agreements In October 2015, Aytu entered into a Master Services Agreement with Biovest International, Inc. (“Biovest”). The agreement provides that Aytu may engage Biovest from time to time to provide services in accordance with mutually agreed upon project addendums and purchase orders. Aytu expects to use the agreement from time to time for manufacturing services, including without limitation, the manufacturing, processing, quality control testing, release or storage of its products for the ProstaScint product. In September 2016, Aytu entered into a Commercial Supply Agreement with Grand River Aseptic Manufacturing, Inc. (“GRAM”). The agreement provides that Aytu may engage GRAM from time to time to provide services in accordance with mutually agreed upon work orders. As of December 31, 2016, both contracts were placed on hold as the Company evaluates its strategic options for the ProstaScint product. If the contracts are not restarted, Aytu does not anticipate any future liability related to either contract Service Agreement In July 2015, Aytu entered into an agreement with Ampio, whereby Aytu agreed to pay Ampio a set amount per month for shared overhead, which includes costs related to the shared corporate staff and other miscellaneous overhead expenses. This agreement was amended in November 2015, April 2016, July 2016, and again in January 2017 resulting in an amount of $ 12,000 Office Lease In June 2015, Aytu entered into a 37 3,000 112,000 37 9,000 318,000 Three Months Ended December 31, Six Months Ended December 31, 2016 2015 2016 2015 Rent expense $ 35,000 $ 34,000 $ 70,000 $ 51,000 Sponsored Research Agreement with Related Party In June 2013, Luoxis entered into a sponsored research agreement with TRLLC, an entity controlled by Ampio’s director and Chief Scientific Officer, Dr. David Bar-Or. The agreement, which was amended in January 2015, provides for Luoxis (now Aytu) to pay $ 6,000 615,000 60.5

Convertible Promissory Notes

Convertible Promissory Notes	6 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 7 – Convertible Promissory Notes During July and August 2015, Aytu closed on note purchase agreements with institutional and high net worth individual investors for the purchase and sale of convertible promissory notes (“Notes”) with an aggregate principal amount of $ 5.2 401,000 103,000 The Notes were an unsecured obligation. Aytu did not have the right to prepay the Notes prior to the maturity date. Interest accrued on the Notes in the following amounts: (i) 8 12 Placement agents for the offering sold the institutional portion of the offering of the Notes. Aytu sold the balance of the Notes to individuals and entities with whom Aytu had an established relationship. For Notes sold by the placement agent, Aytu paid the placement agent 8 8 20,000 The warrants were recorded at fair value as long-term liabilities on the Balance Sheet and upon conversion were moved to equity classification. Upon Aytu’s adoption of ASU 2015-3, the issuance costs associated with the Notes were recorded as a long–term liability and were presented in the Balance Sheet as a direct reduction of the carrying amount of the Notes on their inception date. Pursuant to the terms of the convertible promissory note agreements, if Aytu sold equity securities at any time while the Notes were outstanding in a financing transaction that was not a Qualified Financing (a public offering of Aytu stock resulting in gross proceeds of at least $ 5.0 7.80 4,125,000 143,000 656,591 In May 2016, Aytu completed a registered public offering which was considered a Qualified Financing and all outstanding Notes were automatically converted on the same terms as in the offering. At the insistence of the underwriters of the offering, all outstanding noteholders had signed lockup agreements which granted them an extra 10% on the conversion, increasing it to 130% of shares calculated by dividing such Note balance by $4.80, which was the per share purchase price in the registered offering. On May 6, 2016, the date of conversion, an aggregate of $ 1,050,000 78,000 305,559 305,559 In connection with the conversion of the Aytu notes, Aytu was obligated to issue to the placement agents for the convertible note offering warrants for an amount of shares equal to 8% of the number of shares of Aytu’s common stock for the Notes sold by the placement agents issued upon conversion of the notes. As a result of the optional note conversion, on February 10, 2016, Aytu issued warrants to the placement agents to purchase an aggregate of 22,254 7.80 22,564 4.80 Also in connection with the conversion of the Notes, Aytu recorded a beneficial conversion feature of $ 4.9

Common Stock

Common Stock	6 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 8 – Common Stock Capital Stock At December 31, 2016 and June 30, 2016, Aytu had 10,845,566 3,741,944 100 0.0001 50 0.0001 In May 2016, we raised gross proceeds of approximately $ 7.5 1,562,500 1.2 6.3 6.00 2.1 234,375 170,822 0.12 resulting in proceeds of $ 20,000 In July 2016, we entered into a purchase agreement (the ‘‘Purchase Agreement’’), together with a registration rights agreement (the ‘‘Registration Rights Agreement’’), with Lincoln Park Capital Fund, LLC (‘‘Lincoln Park’’). Upon signing the Purchase Agreement, Lincoln Park agreed to purchase 133,690 500,000 52,500 40,000 131,000 24,000 607,000 In July 2016, we issued 1,000,000 July 7, 2026 This expense is included in sales, general and administrative. For the three and six months ended December 31, 2016, the expense was $ 75,000 157,000 In August 2016, we issued an aggregate of 142,457 In November 2016, we raised gross proceeds of approximately $ 8.6 5,735,000 998,000 7.6 We also issued underwriter warrants in connection with the offering with a fair value of $ 293,000 7.3 3.7 and a fair value of $ 4.4 1.86 3.5 and a fair value of $ 4.2 860,250 285,245 0.01 173,000 a fair value of $ 208,000 3,000

Equity Instruments

Equity Instruments	6 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 9 – Equity Instruments Stock Option Repricing In July 2016, our Board of Directors approved a common stock option repricing program whereby previously granted and unexercised options held by our then current employees, consultants and directors with exercise prices above $6.00 per share were repriced on a one-for-one basis to $3.23 per share which represented the per share fair value of our common stock as of the date of the repricing. There was no other modification to the vesting schedule of the previously issued options. As a result, 316,051 6.72 18.12 We treated the repricing as a modification of the original awards and calculated additional compensation costs for the difference between the fair value of the modified award and the fair value of the original award on the modification date. The repricing resulted in incremental stock-based compensation expense of $ 318,000 Options On June 1, 2015, Aytu’s stockholders approved the 2015 Stock Option and Incentive Plan (the “2015 Plan”), which provides for the award of stock options, stock appreciation rights, restricted stock and other equity awards for up to an aggregate of 2,000,000 Pursuant to the 2015 Stock Plan, 2,000,000 Expected volatility 182% - 185% Risk free interest rate 0.97 % - 1.14% Expected term (years) 5.0 - 6.5 Dividend yield 0% Weighted Weighted Average Number of Average Remaining Contractual Options Exercise Price Life in Years Outstanding June 30, 2016 322,302 $ 18.01 9.33 Granted 441,999 $ 3.23 Exercised - $ - Forfeited/Cancelled (17,646) $ 4.99 Outstanding December 31, 2016 746,655 $ 3.52 9.21 Exercisable at December 31, 2016 323,755 $ 3.40 9.10 Available for grant at December 31, 2016 1,253,345 Stock-based compensation expense related to the fair value of stock options was included in the statements of operations as research and development expenses and selling, general and administrative expenses as set forth in the table below. Aytu determined the fair value as of the date of grant using the Black-Scholes option pricing model and expenses the fair value ratably over the vesting period. Three Months Ended December 31, Six Months Ended December 31, 2016 2015 2016 2015 Research and development expenses Stock options $ - $ 20,000 $ - $ 25,000 Selling, general and administrative expenses Stock options 381,000 $ 163,000 1,425,000 226,000 $ 381,000 $ 183,000 $ 1,425,000 $ 251,000 Unrecognized expense at December 31, 2016 $ 1,435,000 Weighted average remaining years to vest 2.26 Warrants Weighted Average Remaining Number of Warrants Weighted Average Exercise Price Contractual Life in Years Outstanding June 30, 2016 2,201,627 $ 6.19 4.71 Issuance of settlement warrants to initial investors 88,032 $ 4.00 Warrants issued to investors in connection with the registered offering 6,020,245 $ 1.86 Warrants issued to placement agents for the registered offering 401,450 $ 1.86 Outstanding December 31, 2016 8,711,354 $ 2.98 4.51 Included in the warrant balance at June 30, 2016 are warrants to purchase common stock of 109,375 80,000 During the six months ended December 31, 2016, Aytu issued warrants to purchase 88,032 4.00 7,000 596,000 In connection with our November 2016 public offering, we issued warrants to purchase an aggregate of 401,450 1.86 Also in connection with our November 2016 public offering, we issued to investors warrants to purchase an aggregate of 6,020,245 1.86 The warrants issued in connection with our November registered offering are all registered and tradable on the OTCQX under the ticker symbol “AYTUZ”. All warrants were valued using the Black-Scholes option pricing model. In order to calculate the fair value of the warrants, certain assumptions were made regarding components of the model, including the selling price of the underlying common stock, risk-free interest rate, volatility, expected dividend yield, and expected life. Changes to the assumptions could cause significant adjustments to valuation. The Company estimated a volatility factor utilizing a weighted average of comparable published volatilities of peer companies. The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of the grant for treasury securities of similar maturity. During the three months ended December 31, 2016, Aytu sold 5,735,000 1.86 1.50 0.77 0.73 Expected volatility 186.7% - 229.8% Risk free interest rate 1.02% - 1.33% Contractual term (years) 4.68 - 5.0 Dividend yield 0%

Related Party Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 10 – Related Party Transactions Executive/Director Stock Purchases When Aytu completed the November registered offering, our executive officers Joshua Disbrow, Jarrett Disbrow and Gregory Gould and our director, Gary Cantrell, participated in this offering, purchasing 166,666 166,666 66,666 33,333 Ampio Loan Agreements On April 16, 2015, Ampio received 396,816 10.0 12.0 10.0 5.0 5.0 Services Agreement The Company has a service agreement with Ampio which is described in Note 6. Sponsored Research Agreement The Company has a service agreement with TRLLC which is described in Note 6.

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 11 – Subsequent Events On January 27, 2017, the Company commenced a tender offer to the beneficial holders of certain series of warrants, offering them the opportunity to exercise such warrants at a temporarily reduced cash exercise price of $0.75 per share of common stock. The tender offer is being made pursuant to the Offer to Amend and Exercise Warrants to Purchase Common Stock, as filed with the Securities and Exchange Commission on January 27, 2017, which has been mailed to the beneficial holders of the applicable series of warrants. The warrants subject to the tender offer are (i) outstanding warrants to purchase 1,733,322 6.00 6,020,245 1.86 0.75 February 27, 2017 In addition, the solicitation agents retained by the Company in the foregoing tender offer collectively own (together with certain affiliates) an aggregate of 510,825 6.00 1.86 0.75 . Subsequent to December 31, 2016, Aytu has sold approximately one third of its investment in Acerus generating nearly $400,000 in net proceeds.

Business, Basis of Presentati20

Business, Basis of Presentation and Business Combinations (Policies)	6 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation These unaudited financial statements represent the financial statements of Aytu. These unaudited financial statements should be read in conjunction with Aytu’s Annual Report on Form 10-K for the year ended June 30, 2016, which included all disclosures required by generally accepted accounting principles (“GAAP”). In the opinion of management, these unaudited financial statements contain all adjustments necessary to present fairly the financial position of Aytu for the balance sheet, the results of operations and cash flows for the interim periods presented. The results of operations for the period ended December 31, 2016 are not necessarily indicative of expected operating results for the full year. The information presented throughout this report as of and for the period ended December 31, 2016 is unaudited. Through a multi-step reverse triangular merger, on April 16, 2015, Vyrix Pharmaceuticals, Inc. (‘‘Vyrix’’) and Luoxis Diagnostics, Inc. (‘‘Luoxis’’) merged with and into our Company (herein referred to as the Merger) and we abandoned our pre-Merger business plans to solely pursue the specialty healthcare market, including the business of Vyrix and Luoxis. In the Merger, we acquired the RedoxSYS, MiOXSYS and Zertane products. On June 8, 2015, we reincorporated as a domestic Delaware corporation under Delaware General Corporate Law and changed our name from Rosewind Corporation to Aytu BioScience, Inc., and effected a reverse stock split in which each common stockholder received one share of common stock for every 12.174 shares outstanding. On June 30, 2016, Aytu effected another reverse stock split in which each common stockholder received one share of common stock for every 12 shares outstanding (herein referred to collectively as the “Reverse Stock Splits”). All share and per share amounts in this report have been adjusted to reflect the effect of these Reverse Stock Splits.
Business Combinations Policy [Policy Text Block]	Business Combination—ProstaScint In May 2015, Aytu entered into and closed on an asset purchase agreement with Jazz Pharmaceuticals, Inc. (the “Seller”). Pursuant to the agreement, Aytu purchased assets related to the Seller’s product known as ProstaScint® (capromab pendetide), including certain intellectual property and contracts, and the product approvals, inventory and work in progress (together, the “ProstaScint Business”), and assumed certain of the Seller’s liabilities, including those related to product approvals and the sale and marketing of ProstaScint. The purchase price consisted of the upfront payment of $ 1.0 500,000 227,000 8 2.5 664,000 2.4 Fair Value Tangible assets $ 727,000 Intangible assets 1,590,000 Goodwill 74,000 Total assets acquired $ 2,391,000 Included in the intangible assets is developed technology of $ 790,000 720,000 80,000 40,000 80,000 As of December 31, 2016, the contingent consideration had increased to $ 730,000 Business Combination—Primsol In October 2015, Aytu entered into and closed on an Asset Purchase Agreement with FSC Laboratories, Inc. (the “Seller”). Pursuant to the agreement, Aytu purchased assets related to the Seller’s product known as Primsol® (trimethoprim solution), including certain intellectual property and contracts, inventory, work in progress and all marketing and sales assets and materials related solely to Primsol (together, the “Primsol Business”), and assumed certain of the Seller’s liabilities, including those related to the sale and marketing of Primsol arising after the closing. Aytu paid $ 500,000 142,000 102,000 40,000 500,000 500,000 250,000 Fair Value Tangible assets $ 182,000 Intangible assets 1,470,000 Goodwill 147,000 Total assets acquired $ 1,799,000 Included in tangible assets is $ 102,000 80,000 520,000 810,000 140,000 61,000 51,000 122,000 51,000 License and Supply Agreement—Natesto In April 2016, Aytu entered into and closed a license and supply agreement to acquire the exclusive U.S. rights to Natesto® (testosterone) nasal gel from Acerus Pharmaceuticals Corporation, or Acerus, which rights we acquired effective upon the expiration of the former licensee’s rights, which occurred on June 30, 2016. The license’s term runs for the greater of eight years or until the expiry of the latest to expire patent including claims covering Natesto and until the entry on the market of at least one AB-rated generic product. Aytu paid Acerus an upfront fee of $ 2.0 2,000,000 4.0 12,245,411 2,534,800 0.207 0.16 In addition to the upfront payments, we must make the following one-time, non-refundable payments to Acerus within 45 days of the occurrence of the following event (provided that, the maximum aggregate amount payable under such milestone payments will be $ 37,500,000 ⋅ $ 2,500,000 25,000,000 ⋅ $ 5,000,000 50,000,000 ⋅ $ 7,500,000 75,000,000 ⋅ $ 10,000,000 100,000,000 ⋅ $ 12,500,000 125,000,000 The fair value of the net identifiable asset acquired totaled $ 10.5 330,000 659,000 As of December 31, 2016, the accretion expense was $ 620,000 4.0 The contingent consideration was valued at $ 3.2 58,000 104,000 3.3
New Accounting Pronouncements, Policy [Policy Text Block]	Adoption of Newly Issued Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-18, "Statement of Cash Flows: Restricted Cash". The amendments address diversity in practice that exists in the classification and presentation of changes in restricted cash on the statement of cash flows. ASU 2016-18 is effective for the fiscal year commencing after December 15, 2017. As of the quarter ended December 31, 2016, the Company has early adopted this pronouncement, the impact of which was very minimal as the Company just recently set aside restricted cash, which is now shown on the statements of cash flows within cash and cash equivalents. In August 2016, the FASB issued ASU 2016-15 Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which provides guidance on the presentation of certain cash receipts and cash payments in the statement of cash flows in order to reduce diversity in existing practice. ASU 2016-15 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted. During the quarter ended September 30, 2016, the Company early adopted this standard. The primary cash flow categorization that will impact the Company will be contingent consideration payments, however, no such payments have been made to date. Recently Issued Accounting Pronouncements, Not Adopted as of December 31, 2016 In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805) Clarifying the Definition of a Business.” The amendment clarifies the definition of a business, which is fundamental in the determination of whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This determination is important given the diverging accounting models used for each type of transaction. The guidance is generally expected to result in fewer transactions qualifying as business combinations. The amendment is effective prospectively for public business entities for annual periods beginning after December 15, 2017, including interim periods within those periods. Early adoption is permitted. The Company does not expect an immediate impact from this codification however, if Aytu seeks to purchase additional assets in the future it could have an impact if that purchase is accounted for as a business combination or an asset purchase. In March 2016, the FASB issued ASU 2016-09, “Compensation –Stock Compensation (Topic 718): Improvements to Employee Share Based Payment Accounting”. The standard includes multiple provisions intended to simplify various aspects of the accounting for share based payments. The amendments are expected to impact net income, earnings per share, and the statement of cash flows. Implementation and administration may present challenges to companies with significant share based payment activities. The amendments are effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted in any interim or annual period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of this standard on its financial statements however, the Company believes that the impact will not be material. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for leases for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the impact of its adoption of this standard on its financial statements. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which requires that all equity investments be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendment is effective for financial statements issued for fiscal years beginning after December 15, 2017. Early adoption is not permitted. The Company is currently evaluating the impact of this standard on its financial statements. In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory.” ASU 2015-11 clarifies that inventory should be held at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price, less the estimated costs to complete, dispose and transport such inventory. ASU 2015-11 will be effective for fiscal years and interim periods beginning after December 15, 2016. ASU 2015-11 is required to be applied prospectively and early adoption is permitted. The adoption of ASU 2015-11, when required, is not expected to have a material impact on the Company’s financial statements. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for reporting periods ending after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact the adoption of ASU 2014-15 will have on its financial statements. In May 2014, the FASB issuing ASU 2014-09, Topic 606, Revenue from Contracts with Customers (the "New Revenue Standard"). The amendments in this ASU provide a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the new ASU is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of the New Revenue Standard. In 2016, the FASB issued ASU 2016-08, ASU 2016-10, ASU 2016-11, and ASU 2016-12 to clarify, among other things, the implementation guidance related to principal versus agent considerations, identifying performance obligations, and accounting for licenses of intellectual property. The New Revenue Standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application is not permitted. The amendments in this update are to be applied on a retrospective basis, either to each prior reporting period presented or by presenting the cumulative effect of applying the update recognized at the date of initial application. The New Revenue Standard will be effective for the Company in fiscal 2019. The Company is evaluating the adoption methodology and the impact of this ASU on its financial statements.

Business, Basis of Presentati21

Business, Basis of Presentation and Business Combinations (Tables)	6 Months Ended
	Dec. 31, 2016
Primsol Business [Member]
Business Description And Basis Of Presentation [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The Company’s allocation of consideration transferred for Primsol as of the purchase date of October 5, 2015 is as follows: Fair Value Tangible assets $ 182,000 Intangible assets 1,470,000 Goodwill 147,000 Total assets acquired $ 1,799,000
Prostascint Business [Member]
Business Description And Basis Of Presentation [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The Company’s allocation of consideration transferred for ProstaScint as of the purchase date of May 20, 2015 is as follows: Fair Value Tangible assets $ 727,000 Intangible assets 1,590,000 Goodwill 74,000 Total assets acquired $ 2,391,000

Fixed Assets (Tables)

Fixed Assets (Tables)	6 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Fixed assets are recorded at cost and, once placed in service, are depreciated on the straight-line method over the estimated useful lives. Fixed assets consist of the following: Estimated As of December 31, As of June 30, Useful Lives in years 2016 2016 Office equipment and furniture 3 - 5 $ 240,000 $ 201,000 Leasehold improvements 3 112,000 45,000 Lab equipment 3 - 5 90,000 90,000 Manufacturing equipment 5 7,000 7,000 Less accumulated depreciation and amortization (157,000) (112,000) Fixed assets, net $ 292,000 $ 231,000

Patents (Tables)

Patents (Tables)	6 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Patents consist of the following: As of December 31, As of June 30, 2016 2016 Patents $ 880,000 $ 880,000 Less accumulated amortization (596,000) (583,000) Patents, net $ 284,000 $ 297,000

Fair Value Considerations (Tabl

Fair Value Considerations (Tables)	6 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Financial Assets And Liabilities Not Measured At Fair Value On Recurring Basis [Table Text Block]	The following table presents Aytu’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2016, by level within the fair value hierarchy: Fair Value Measurements Using Level 1 Level 2 Level 3 Total December 31, 2016 ASSETS Investment in Acerus $ 1,272,000 $ - $ - $ 1,272,000 LIABILITIES Warrant derivative liability $ - $ - $ 80,000 $ 80,000 Contingent consideration $ - $ - $ 4,003,000 $ 4,003,000 June 30, 2016 ASSETS Investment in Acerus $ 1,041,000 $ - $ - $ 1,041,000 LIABILITIES Warrant derivative liability $ - $ - $ 276,000 $ 276,000 Contingent consideration $ - $ - $ 3,869,000 $ 3,869,000
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block]	The estimated fair value of the Company’s marketable securities is determined using the quoted price in the active market based on the closing price as of the balance sheet date. Unrealized As of December 31, 2016 Maturity in Years Value at June 30, 2016 Gains Losses Fair Value Investment in Acerus Less than 1 year $ 1,041,000 $ 231,000 $ $ 1,272,000
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]	Significant assumptions in valuing the warrant derivative liability, based on estimates of the value of Aytu common stock and various factors regarding the warrants, were as follows as of December 31, 2016 and at issuance: December 31, 2016 At Issuance Warrants: Volatility 186.7 % 75.0 % Equivalent term (years) 4.34 5.00 Risk-free interest rate 1.33 % 1.32 % Dividend yield 0.00 % 0.00 %
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table sets forth a reconciliation of changes in the fair value of financial liabilities classified as Level 3 in the fair value hierarchy: Derivative Instruments Balance as of June 30, 2016 $ 276,000 Warrant issuances - Change in fair value included in earnings (196,000) Balance as of December 31, 2016 $ 80,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies Disclosure [Table Text Block]	Commitments and contingencies are described below and summarized by the following table for the designated fiscal years ending June 30, as of December 31, 2016: Remaining Total 2017 2018 2019 2020 2021 Thereafter Prescription database $ 1,736,000 $ 565,000 $ 598,000 $ 573,000 $ - $ - $ - Natesto 6,500,000 4,000,000 - - 2,500,000 - - Manufacturing/commercial supply agreements - - - - - - - Service agreement 72,000 72,000 - - - - - Office lease 247,000 72,000 145,000 30,000 - - - Sponsored research agreement with related party 41,000 41,000 - - - - - $ 8,596,000 $ 4,750,000 $ 743,000 $ 603,000 $ 2,500,000 $ - $ -
Schedule of Rent Expense [Table Text Block]	Rent expense for the respective periods is as follows: Three Months Ended December 31, Six Months Ended December 31, 2016 2015 2016 2015 Rent expense $ 35,000 $ 34,000 $ 70,000 $ 51,000

Equity Instruments (Tables)

Equity Instruments (Tables)	6 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The assumptions used for the six months ended December 31, 2016 are as follows: Expected volatility 182% - 185% Risk free interest rate 0.97 % - 1.14% Expected term (years) 5.0 - 6.5 Dividend yield 0%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Stock option activity is as follows: Weighted Weighted Average Number of Average Remaining Contractual Options Exercise Price Life in Years Outstanding June 30, 2016 322,302 $ 18.01 9.33 Granted 441,999 $ 3.23 Exercised - $ - Forfeited/Cancelled (17,646) $ 4.99 Outstanding December 31, 2016 746,655 $ 3.52 9.21 Exercisable at December 31, 2016 323,755 $ 3.40 9.10 Available for grant at December 31, 2016 1,253,345
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	The following table summarizes stock-based compensation expense for the three and six months ended December 31, 2016 and three and six months ended December 31, 2015: Three Months Ended December 31, Six Months Ended December 31, 2016 2015 2016 2015 Research and development expenses Stock options $ - $ 20,000 $ - $ 25,000 Selling, general and administrative expenses Stock options 381,000 $ 163,000 1,425,000 226,000 $ 381,000 $ 183,000 $ 1,425,000 $ 251,000 Unrecognized expense at December 31, 2016 $ 1,435,000 Weighted average remaining years to vest 2.26
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	A summary of all warrants is as follows: Weighted Average Remaining Number of Warrants Weighted Average Exercise Price Contractual Life in Years Outstanding June 30, 2016 2,201,627 $ 6.19 4.71 Issuance of settlement warrants to initial investors 88,032 $ 4.00 Warrants issued to investors in connection with the registered offering 6,020,245 $ 1.86 Warrants issued to placement agents for the registered offering 401,450 $ 1.86 Outstanding December 31, 2016 8,711,354 $ 2.98 4.51
Schedule of Share-based Payment Award, Warrants, Valuation Assumptions [Table Text Block]	Significant assumptions in valuing the warrants issued during the December 31, 2016 quarter were as follows: Expected volatility 186.7% - 229.8% Risk free interest rate 1.02% - 1.33% Contractual term (years) 4.68 - 5.0 Dividend yield 0%

Business, Basis of Presentati27

Business, Basis of Presentation and Business Combinations (Details) - USD ($)	Dec. 31, 2016	Jun. 30, 2016	Oct. 05, 2015	May 31, 2015	May 20, 2015
Business Acquisition [Line Items]
Goodwill	$ 221,000	$ 221,000
Prostascint Business [Member]
Business Acquisition [Line Items]
Tangible assets					$ 727,000
Intangible assets					1,590,000
Goodwill					74,000
Total assets acquired				$ 2,400,000	$ 2,391,000
Primsol Business [Member]
Business Acquisition [Line Items]
Tangible assets			$ 182,000
Intangible assets			1,470,000
Goodwill			147,000
Total assets acquired			$ 1,799,000

Business, Basis of Presentati28

Business, Basis of Presentation and Business Combinations (Details Textual)	1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 28, 2016USD ($)$ / sharesshares	Oct. 31, 2015USD ($)	May 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2016USD ($)	Apr. 28, 2016CADCAD / shares	Oct. 05, 2015USD ($)	May 20, 2015USD ($)
Business Acquisition [Line Items]
Stockholders' Equity, Reverse Stock Split						On June 8, 2015, we reincorporated as a domestic Delaware corporation under Delaware General Corporate Law and changed our name from Rosewind Corporation to Aytu BioScience, Inc., and effected a reverse stock split in which each common stockholder received one share of common stock for every 12.174 shares outstanding. On June 30, 2016, Aytu effected another reverse stock split in which each common stockholder received one share of common stock for every 12 shares outstanding (herein referred to collectively as the Reverse Stock Splits). All share and per share amounts in this report have been adjusted to reflect the effect of these Reverse Stock Splits.
Amortization of Intangible Assets				$ 437,014	$ 108,489	$ 874,029	$ 165,936
Developed Technology Rights [Member]
Business Acquisition [Line Items]
Amortization of Intangible Assets						520,000
Trade Names [Member]
Business Acquisition [Line Items]
Amortization of Intangible Assets						810,000
Customer Contracts [Member]
Business Acquisition [Line Items]
Amortization of Intangible Assets						140,000
Prostascint Business [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total			$ 2,400,000								$ 2,391,000
Payments to Acquire Businesses, Gross			1,000,000
Business Combination, Consideration Transferred, Liabilities Incurred			227,000
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High			$ 2,500,000
Business Combination Contingent Consideration Percentage			8.00%
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Asset			$ 664,000			730,000
Amortization of Intangible Assets				40,000	40,000	80,000	80,000
Business Combination Consideration Transferred Product Inventory			$ 500,000
Jazz Pharmaceuticals Inc [Member] | Prosta Scint [Member] | Developed Technology Rights [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Assets, Gross				790,000		790,000
Jazz Pharmaceuticals Inc [Member] | Prosta Scint [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Assets, Gross				80,000		80,000
Jazz Pharmaceuticals Inc [Member] | Prosta Scint [Member] | Customer Contracts [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Assets, Gross				720,000		720,000
Primsol Business [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total										$ 1,799,000
Payments to Acquire Businesses, Gross		$ 500,000
Business Combination, Consideration Transferred, Liabilities Incurred		142,000
Amortization of Intangible Assets				61,000	$ 51,000	122,000	$ 51,000
Business Combination Consideration Transferred Inventory		102,000				102,000
Business Combination Consideration Transferred Product Inventory		40,000
Business Combination Consideration Transferred Work In Process Inventory						80,000
Primsol Business [Member] | Paid on April 1, 2016 [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred		500,000
Primsol Business [Member] | No Later Than July 01, 2016 [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred		500,000
Primsol Business [Member] | No Later Than November 30, 2016 [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred		$ 250,000
Natesto [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total				10,500,000		10,500,000
Payments to Acquire Businesses, Gross	$ 2,000,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Asset						3,300,000		$ 3,200,000
Amortization of Intangible Assets				330,000		659,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	12,245,411
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | CAD									CAD 2,534,800
Business Acquisition, Share Price | (per share)	$ 0.16								CAD 0.207
One Time Non-Refundable Payments	$ 37,500,000
Other Accrued Liabilities				620,000		620,000
Accretion Expense				58,000		104,000
Natesto [Member] | License And Supply Agreement [Member]
Business Acquisition [Line Items]
Other Accrued Liabilities				$ 4,000,000		$ 4,000,000
Natesto [Member] | First Milestone [Member] | License And Supply Agreement [Member]
Business Acquisition [Line Items]
One Time Non-Refundable Payments	2,500,000
Sales Revenue Target	25,000,000
Natesto [Member] | Second Milestone [Member] | License And Supply Agreement [Member]
Business Acquisition [Line Items]
One Time Non-Refundable Payments	5,000,000
Sales Revenue Target	50,000,000
Natesto [Member] | Third Milestone [Member] | License And Supply Agreement [Member]
Business Acquisition [Line Items]
One Time Non-Refundable Payments	7,500,000
Sales Revenue Target	75,000,000
Natesto [Member] | Forth Milestone [Member] | License And Supply Agreement [Member]
Business Acquisition [Line Items]
One Time Non-Refundable Payments	10,000,000
Sales Revenue Target	100,000,000
Natesto [Member] | Fifth Milestone [Member] | License And Supply Agreement [Member]
Business Acquisition [Line Items]
One Time Non-Refundable Payments	12,500,000
Sales Revenue Target	125,000,000
Natesto [Member] | Second Upfront [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred	2,000,000
Natesto [Member] | Third Upfront [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 4,000,000

Fixed Assets (Details)

Fixed Assets (Details) - USD ($)	6 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Property, Plant and Equipment [Line Items]
Less accumulated depreciation and amortization	$ (157,000)	$ (112,000)
Fixed assets, net	292,169	231,430
Office equipment and furniture [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 240,000	201,000
Office equipment and furniture [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Office equipment and furniture [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 112,000	45,000
Estimated useful lives	3 years
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 90,000	90,000
Lab equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Lab equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Manufacturing equipment [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 7,000	$ 7,000
Estimated useful lives	5 years

Fixed Assets (Details Textual)

Fixed Assets (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation	$ 26,000	$ 12,000	$ 45,000	$ 19,000

Patents (Details)

Patents (Details) - USD ($)	Dec. 31, 2016	Jun. 30, 2016
Indefinite-lived Intangible Assets [Line Items]
Patents, net	$ 283,944	$ 296,611
Patents [Member]
Indefinite-lived Intangible Assets [Line Items]
Patents	880,000	880,000
Less accumulated armortization	(596,000)	(583,000)
Patents, net	$ 284,000	$ 297,000

Patents (Details Textual)

Patents (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 437,014	$ 108,489	$ 874,029	$ 165,936
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	880,000		880,000		$ 880,000
Amortization of Intangible Assets	6,000	$ 18,000	13,000	$ 36,000
Zertane Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	500,000		$ 500,000
Finite-Lived Intangible Assets, Remaining Amortization Period			11 years
ORP [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 380,000		$ 380,000
Finite-Lived Intangible Assets, Remaining Amortization Period			15 years

Revenue Recognition (Details Te

Revenue Recognition (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Revenue Recognition [Line Items]
Revenue, Net, Total	$ 794,000	$ 448,000	$ 1,492,000	$ 914,000
Deferred Revenue					$ 426,000
License and Maintenance Revenue	0	$ 21,000	0	$ 43,000
KOREA, REPUBLIC OF | Korean Pharmaceutical Company [Member]
Revenue Recognition [Line Items]
Deferred Revenue	500,000		$ 500,000
Deferred Revenue Recognition Period			10 years
CANADA | Canadian Based Supplier [Member]
Revenue Recognition [Line Items]
Deferred Revenue	$ 250,000		$ 250,000
Deferred Revenue Recognition Period			7 years

Fair Value Considerations (Deta

Fair Value Considerations (Details) - USD ($)	Dec. 31, 2016	Jun. 30, 2016	Aug. 31, 2015
ASSETS
Investment in Acerus	$ 1,272,000	$ 1,041,000
LIABILITIES
Warrant derivative liability	79,844	275,992	$ 103,000
Contingent consideration	4,003,229	3,869,122
Fair Value, Inputs, Level 1 [Member]
ASSETS
Investment in Acerus	1,272,000	1,041,000
LIABILITIES
Warrant derivative liability	0	0
Contingent consideration	0	0
Fair Value, Inputs, Level 2 [Member]
ASSETS
Investment in Acerus	0	0
LIABILITIES
Warrant derivative liability	0	0
Contingent consideration	0	0
Fair Value, Inputs, Level 3 [Member]
ASSETS
Investment in Acerus	0	0
LIABILITIES
Warrant derivative liability	80,000	276,000
Contingent consideration	$ 4,003,000	$ 3,869,000

Fair Value Considerations (De35

Fair Value Considerations (Details 1) - USD ($)	Dec. 31, 2016	Jun. 30, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Initial Cost		$ 1,041,000
Unrealized Gains	$ 231,000
Unrealized Losses	0
Fair Value	$ 1,272,000	$ 1,041,000

Fair Value Considerations (De36

Fair Value Considerations (Details 2) - Warrant [Member]	6 Months Ended
	Dec. 31, 2016
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Volatility	186.70%
Equivalent term (years)	4 years 4 months 2 days
Risk-free interest rate	1.33%
Dividend yield	0.00%
Issuance Date [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Volatility	75.00%
Equivalent term (years)	5 years
Risk-free interest rate	1.32%
Dividend yield	0.00%

Fair Value Considerations (De37

Fair Value Considerations (Details 3) - Fair Value, Inputs, Level 3 [Member]	6 Months Ended
	Dec. 31, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance as of June 30, 2016	$ 276,000
Warrant issuances	0
Change in fair value included in earnings	(196,000)
Balance as of December 31, 2016	$ 80,000

Fair Value Considerations (De38

Fair Value Considerations (Details Textual) - USD ($)	Dec. 31, 2016	Jun. 30, 2016
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure	$ 1,272,000	$ 1,041,000

Commitments and Contingencies39

Commitments and Contingencies (Details) - USD ($)	Dec. 31, 2016	Apr. 30, 2016
Unrecorded Unconditional Purchase Obligation [Line Items]
Total	$ 8,596,000
2,017	4,750,000
2,018	743,000
2,019	603,000
2,020	2,500,000
2,021	0
Thereafter	0
Prescription Database [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Total	1,736,000
2,017	565,000
2,018	598,000
2,019	573,000
2,020	0
2,021	0
Thereafter	0
Natesto [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Total	6,500,000	$ 8,000,000
2,017	4,000,000
2,018	0
2,019	0
2,020	2,500,000
2,021	0
Thereafter	0
Manufacturing/commercial supply agreements [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Total	0
2,017	0
2,018	0
2,019	0
2,020	0
2,021	0
Thereafter	0
Service agreement [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Total	72,000
2,017	72,000
2,018	0
2,019	0
2,020	0
2,021	0
Thereafter	0
Office Lease [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Total	247,000
2,017	72,000
2,018	145,000
2,019	30,000
2,020	0
2,021	0
Thereafter	0
Sponsored research agreement with related party [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Total	41,000
2,017	41,000
2,018	0
2,019	0
2,020	0
2,021	0
Thereafter	$ 0

Commitments and Contingencies40

Commitments and Contingencies (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Commitments And Contingencies Rent Expense [Line Items]
Rent expense	$ 35,000	$ 34,000	$ 70,000	$ 51,000

Commitments and Contingencies41

Commitments and Contingencies (Details Textual) - USD ($)	1 Months Ended						6 Months Ended
	Jan. 31, 2017	Oct. 31, 2016	Apr. 30, 2016	Jun. 30, 2015	Mar. 31, 2014	Jun. 30, 2013	Dec. 31, 2016
Unrecorded Unconditional Purchase Obligation [Line Items]
Contractual Obligation, Total							$ 8,596,000
Ampio [Member] | First Installment [Member] | Scenario, Plan [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Prepaid Expenses Amortization Period					60 months 15 days
Ampio [Member] | Second Installment [Member] | Scenario, Plan [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Property Subject to or Available for Operating Lease, Net					$ 615,000
Ampio [Member] | Second Installment [Member] | After Amendment [Member] | Scenario, Plan [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Operating Lease Monthly Rental Payment						$ 6,000
Natesto [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Contractual Obligation, Total			$ 8,000,000				6,500,000
First Milestone Payable							2,500,000
Natesto [Member] | First Installment [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Payment Of Contractual Obligations		$ 2,000,000
Natesto [Member] | Second Installment [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Payment Of Contractual Obligations			$ 2,000,000
Natesto [Member] | Subsequent Event [Member] | Final Installment [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Payment Of Contractual Obligations	$ 4,000,000
Management Fee [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Management Fee Payable Per Month							12,000
Prescription Database [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Contractual Obligation, Total							1,736,000
Prescription Database [Member] | Over Three Years [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Contractual Obligation, Total							1,900,000
Office Lease [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Operating Leases Monthly Base Rent Initial Year				$ 3,000			$ 9,000
Lessee Leasing Arrangements, Operating Leases, Term of Contract				37 months			37 months
Operating Leases, Rent Expense				$ 112,000			$ 318,000
Contractual Obligation, Total							$ 247,000

Convertible Promissory Notes (D

Convertible Promissory Notes (Details Textual) - USD ($)	May 06, 2016	Feb. 10, 2016	Feb. 10, 2015	Aug. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016	Jan. 20, 2016
Debt Conversion [Line Items]
Debt Instrument, Face Amount				$ 5,200,000
Unamortized Debt Issuance Expense				401,000
Derivative Liability, Noncurrent				$ 103,000	$ 79,844		$ 275,992
Proceeds from Convertible Debt					$ 0	$ 5,175,000
Debt Instrument, Convertible, Terms of Conversion Feature					At the insistence of the underwriters of the offering, all outstanding noteholders had signed lockup agreements which granted them an extra 10% on the conversion, increasing it to 130% of shares calculated by dividing such Note balance by $4.80
Debt Related Commitment Fees and Debt Issuance Costs					$ 20,000
Placement Agents Cash Fee Percentage				8.00%	8.00%
Warrants Issued to Purchase of common stock	22,564	22,254
Warrants Exercise Price Per share	$ 4.80	$ 7.80
Warrants Exercisable Term	5 years
Convertible Promissory Notes [Member]
Debt Conversion [Line Items]
Proceeds from Convertible Debt					$ 5,000,000
Debt Conversion, Original Debt, Amount	$ 1,050,000		$ 4,125,000
Debt Conversion Accrued Interest Amount	$ 78,000		$ 143,000
Debt Conversion, Converted Instrument, Shares Issued	305,559		656,591
Debt Instrument, Convertible, Beneficial Conversion Feature					$ 4,900,000
Debt Instrument, Convertible, Conversion Price								$ 7.80
Debt Conversion, Converted Instrument, Warrants or Options Issued	305,559
Convertible Promissory Notes [Member] | Minimum [Member]
Debt Conversion [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					8.00%
Convertible Promissory Notes [Member] | Maximum [Member]
Debt Conversion [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					12.00%

Common Stock (Details Textual)

Common Stock (Details Textual) - USD ($)	1 Months Ended					3 Months Ended	6 Months Ended
	Nov. 30, 2016	Sep. 30, 2016	Aug. 31, 2016	Jul. 31, 2016	May 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Common Stock [Line Items]
Common Stock, Shares Authorized						100,000,000	100,000,000		100,000,000
Common Stock, Par or Stated Value Per Share						$ 0.0001	$ 0.0001		$ 0.0001
Preferred Stock, Shares Authorized						50,000,000	50,000,000		50,000,000
Preferred Stock, Par or Stated Value Per Share						$ 0.0001	$ 0.0001		$ 0.0001
Common Stock, Shares, Outstanding						10,845,566	10,845,566		3,741,944
Stockholders' Equity, Reverse Stock Split							On June 8, 2015, we reincorporated as a domestic Delaware corporation under Delaware General Corporate Law and changed our name from Rosewind Corporation to Aytu BioScience, Inc., and effected a reverse stock split in which each common stockholder received one share of common stock for every 12.174 shares outstanding. On June 30, 2016, Aytu effected another reverse stock split in which each common stockholder received one share of common stock for every 12 shares outstanding (herein referred to collectively as the Reverse Stock Splits). All share and per share amounts in this report have been adjusted to reflect the effect of these Reverse Stock Splits.
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 1.86	$ 1.86
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross							441,999
Warrants and Rights Outstanding	$ 173,000
Stock Issued During Period, Value, New Issues							$ 607,234
Payments of Stock Issuance Costs							24,247	$ 0
Proceeds from Issuance of Common Stock							631,481	$ 0
Adjustments To Additional Paid In Capital Warrants Issued In Connection With Equity Financing To Placement Agents For Over Allotment Option							172,629
Proceeds from Issuance of Warrants	3,000						2,852
Over Allotment Warrants [Member]
Common Stock [Line Items]
Equity, Fair Value Disclosure	208,000
Equity Relative Fair Value	173,000
Selling, General and Administrative Expenses [Member]
Common Stock [Line Items]
Allocated Share-based Compensation Expense						$ 75,000	157,000
Executive Officer [Member]
Common Stock [Line Items]
Stock Issued During Period, Shares, Issued for Services			142,457
Director [Member]
Common Stock [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures				1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date				Jul. 7, 2026
Lincoln Park Capital Fund LLC Purchase Agreement [Member]
Common Stock [Line Items]
Stock Issued During Period, Value, New Issues		$ 131,000
Payments of Stock Issuance Costs							24,000
Common Stock, Shares Agreed To Purchase				133,690
Common Stock, Value Agreed To Purchase				$ 500,000
Stock Issued During Period, Shares, Issued for Services				52,500
Stock Issued During Period, Shares, New Issues		40,000
Proceeds from Issuance of Common Stock							$ 607,000
Common Stock [Member]
Common Stock [Line Items]
Stockholders' Equity, Reverse Stock Split							On June 30, 2016, Aytu effected a reverse stock split in which each common stock holder received one share of common stock for each 12 shares. All share and per share amounts for all periods presented in this report have been adjusted to reflect the effect of this reverse stock split.
Equity, Fair Value Disclosure	4,400,000
Stock Issued During Period, Value, New Issues							$ 23
Stock Issued During Period, Shares, Issued for Services							142,457
Stock Issued During Period, Shares, New Issues							226,190
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures							1,000,000
Adjustments To Additional Paid In Capital Warrants Issued In Connection With Equity Financing To Placement Agents For Over Allotment Option							$ 0
Equity Relative Fair Value	3,700,000
Warrant [Member]
Common Stock [Line Items]
Equity, Fair Value Disclosure	4,200,000
Equity Relative Fair Value	3,500,000
IPO [Member]
Common Stock [Line Items]
Proceeds from Issuance Initial Public Offering	$ 7,600,000				$ 6,300,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.86				$ 6
Stock Issued During Period, Value, New Issues	$ 8,600,000				$ 7,500,000
Payments of Stock Issuance Costs	$ 998,000				$ 1,200,000
Stock Issued During Period, Shares, New Issues	5,735,000				1,562,500
Over-Allotment Option [Member]
Common Stock [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01				$ 0.12
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	860,250				234,375
Underwriters Exercised of Over-Allotment Option	285,245				170,822
Adjustments To Additional Paid In Capital Warrants Issued In Connection With Equity Financing To Placement Agents For Over Allotment Option	$ 293,000
Proceeds from Issuance of Warrants	$ 7,300,000				$ 20,000

Equity Instruments (Details)

Equity Instruments (Details) - 2015 Stock Option and Incentive Plan [Member]	6 Months Ended
	Dec. 31, 2016
Assumptions Used To Determine Fair Value Options [Line Items]
Risk free interest rate, Minimum	0.97%
Risk free interest rate, Maximum	1.14%
Dividend yield	0.00%
Minimum [Member]
Assumptions Used To Determine Fair Value Options [Line Items]
Expected volatility	182.00%
Expected term (years)	5 years
Maximum [Member]
Assumptions Used To Determine Fair Value Options [Line Items]
Expected volatility	185.00%
Expected term (years)	6 years 6 months

Equity Instruments (Details 1)

Equity Instruments (Details 1) - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Number of Options
Number of Options, Beginning Balance	322,302
Number of Options, Granted	441,999
Number of Options, Exercised	0
Number of Options, Forfeited/Cancelled	(17,646)
Number of Options, Ending Balance	746,655	322,302
Number of Options Exercisable	323,755
Available for grant at December 31, 2016	1,253,345
Weighted Average Exercise Price
Weighted Average Exercise Price, Beginning Balance	$ 18.01
Weighted Average Exercise Price, Granted	3.23
Weighted Average Exercise Price, Exercised	0
Weighted Average Exercise Price, Forfeited/Cancelled	4.99
Weighted Average Exercise Price, Ending Balance	3.52	$ 18.01
Weighted Average Exercise Price, Exercisable	$ 3.4
Weighted Average Remaining Contractual Life
Weighted Average Remaining Contractual Life, Excercisable (in years)	9 years 1 month 6 days
Weighted Average Remaining Contractual Life, Outstanding (in years)	9 years 2 months 16 days	9 years 3 months 29 days

Equity Instruments (Details 2)

Equity Instruments (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized expense at December 31, 2016			$ 1,435,000
Weighted average remaining years to vest (in years)			2 years 3 months 4 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 381,000	$ 183,000	$ 1,425,000	$ 251,000
Research and Development Expense [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	0	20,000	0	25,000
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	75,000		157,000
Selling, General and Administrative Expenses [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 381,000	$ 163,000	$ 1,425,000	$ 226,000

Equity Instruments (Details 3)

Equity Instruments (Details 3) - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Number of Warrants Outstanding
Number of Warrants Outstanding, Beginning Balance	2,201,627
Issuance of settlement warrants to initial investors	88,032
Warrants issued to investors in connection with the registered offering	6,020,245
Warrants issued to placement agents for the registered offering	401,450
Number of Warrants Outstanding, Ending Balance	8,711,354	2,201,627
Warrants, Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 6.19
Issuance of settlement warrants to initial investors	4
Warrants issued to investors in connection with the registered offering	1.86
Warrants issued to placement agents for the registered offering	1.86
Weighted Average Exercise Price, Outstanding Ending Balance	$ 2.98	$ 6.19
Weighted Average Remaining Contractual Life
Weighted Average Remaining Contractual Life, Warrants Outstanding (in years)	4 years 6 months 4 days	4 years 8 months 16 days

Equity Instruments (Details 4)

Equity Instruments (Details 4) - Warrant [Member]	6 Months Ended
	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate, Minimum	1.02%
Risk free interest rate, Maximum	1.33%
Dividend yield	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	229.80%
Contractual term (years)	5 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	186.70%
Contractual term (years)	4 years 8 months 5 days

Equity Instruments (Details Tex

Equity Instruments (Details Textual) - USD ($)	1 Months Ended		3 Months Ended	6 Months Ended	12 Months Ended
	Nov. 30, 2016	Jul. 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Jun. 30, 2016	Jun. 02, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Share Warrants Issued On Placement Agents For Registered Offering				401,450
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				441,999
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price				$ 3.23
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost		$ 318,000
Number Of Units Sold			5,735,000
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 1.86	1.86
Shares Issued, Price Per Share			1.50	$ 1.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			0.77
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 0.73
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class Of Warrants And Rights Issuance Cost			$ 7,000	$ 596,000
Placement Agent warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants Not Settleable in Cash, Fair Value Disclosure			$ 80,000	$ 80,000
Share Based Compensation Share Warrants Issued On Placement Agents For Registered Offering					109,375
Share Based Compensation Share Warrants Issued To Investors	401,450			88,032
Share Based Compensation Share Warrants Issued Weighted Average Exercise Price	$ 1.86			$ 4
Placement Agent warrants [Member] | Over Allotment Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Share Warrants Issued To Investors	6,020,245
Share Based Compensation Share Warrants Issued Weighted Average Exercise Price	$ 1.86
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		316,051
Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 6.72
Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 18.12
2015 Stock Option and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance						2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			2,000,000	2,000,000

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($) $ in Millions	1 Months Ended
	Nov. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Apr. 16, 2015	Dec. 31, 2016	Jun. 30, 2016	Aug. 31, 2015
Related Party Transaction [Line Items]
Common Stock, Shares, Issued					10,845,566	3,741,944
Debt Instrument, Face Amount							$ 5.2
Joshua Disbrow [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues	166,666
Jarrett Disbrow [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues	166,666
Gregory Gould [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues	66,666
Gary Cantrell [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues	33,333
Ampio [Member]
Related Party Transaction [Line Items]
Common Stock, Shares, Issued				396,816
Ampio [Member] | Promissory Note [Member]
Related Party Transaction [Line Items]
Debt Instrument, Face Amount				$ 10
Proceeds from Related Party Debt		$ 5	$ 5
Ampio [Member] | Promissory Note [Member] | Vyrix Pharmaceuticals Inc [Member]
Related Party Transaction [Line Items]
Debt Instrument, Decrease, Forgiveness				10
Ampio [Member] | Promissory Note [Member] | Luoxis Diagnostics [Member]
Related Party Transaction [Line Items]
Debt Instrument, Decrease, Forgiveness				$ 12

Subsequent Events (Details Text

Subsequent Events (Details Textual) - USD ($)	1 Months Ended
	Jan. 27, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 1.86
Subsequent Event [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.75
Class Of Warrants Or Right Expiration Date	Feb. 27, 2017
Subsequent Event [Member] | May 2016 Warrant [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,733,322
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 6
Subsequent Event [Member] | October 2016 Warrant [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	6,020,245
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.86
Subsequent Event [Member] | Acerus Pharmaceuticals Corporation [Member]
Subsequent Event [Line Items]
Proceeds from Sale of Short-term Investments	$ 400,000
Subsequent Event [Member] | Underwriter [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	510,825
Subsequent Event [Member] | Underwriter [Member] | Exercise Price One [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 6
Subsequent Event [Member] | Underwriter [Member] | Exercise Price Two [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	1.86
Subsequent Event [Member] | Underwriter [Member] | Exercise Price Three [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.75