Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2024 | Sep. 16, 2024 | Dec. 29, 2023 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001385818 | ||
Entity Registrant Name | AYTU BIOPHARMA, INC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --06-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2024 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jun. 30, 2024 | ||
Document Transition Report | false | ||
Entity File Number | 001-38247 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 47-0883144 | ||
Entity Address, Address Line One | 7900 East Union Avenue, Suite 920 | ||
Entity Address, City or Town | Denver | ||
Entity Address, State or Province | CO | ||
Entity Address, Postal Zip Code | 80237 | ||
City Area Code | 720 | ||
Local Phone Number | 437-6580 | ||
Title of 12(b) Security | Common Stock, par value $0.0001 per share | ||
Trading Symbol | AYTU | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 10,712,951 | ||
Entity Common Stock, Shares Outstanding | 6,148,993 | ||
Auditor Firm ID | 248 | ||
Auditor Name | GRANT THORNTON LLP | ||
Auditor Location | Denver, Colorado |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 20,006 | $ 22,985 |
Accounts receivable, net | 23,617 | 28,937 |
Inventories | 12,633 | 11,995 |
Prepaid expenses and other current assets | 5,635 | 7,162 |
Total current assets | 61,891 | 71,079 |
Non-current assets: | ||
Property, Plant and Equipment, Net | 693 | 1,815 |
Operating lease right-of-use assets | 829 | 2,054 |
Intangible assets, net | 52,453 | 58,970 |
Other non-current assets | 2,229 | 2,545 |
Total non-current assets | 56,204 | 65,384 |
Total assets | 118,095 | 136,463 |
Liabilities, Current [Abstract] | ||
Accounts payable | 10,440 | 13,478 |
Accrued liabilities | 38,574 | 46,799 |
Revolving credit facility | 2,395 | 1,563 |
Long-Term Debt, Current Maturities | 1,857 | 85 |
Other Liabilities, Current | 8,962 | 7,090 |
Total current liabilities | 62,228 | 69,015 |
Liabilities, Noncurrent [Abstract] | ||
Debt, net of current portion | 10,877 | 14,713 |
Derivative warrant liabilities | 12,745 | 6,403 |
Other Liabilities, Noncurrent | 4,529 | 6,975 |
Total non-current liabilities | 28,151 | 28,091 |
Commitments and contingencies (note 18) | ||
Stockholders’ equity | ||
Preferred stock, par value $.0001; 50,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock, par value $.0001; 200,000,000 shares authorized; 5,972,638 and 5,517,174 shares issued and outstanding, respectively | 1 | 1 |
Additional paid-in capital | 347,688 | 343,485 |
Accumulated deficit | (319,973) | (304,129) |
Total stockholders’ equity | 27,716 | 39,357 |
Total liabilities and stockholders’ equity | $ 118,095 | $ 136,463 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jun. 30, 2024 | Jun. 30, 2023 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, authorizzed (in shares) | 50,000,000 | 50,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 5,972,638 | 5,517,174 |
Common stock, outstanding (in shares) | 5,972,638 | 5,517,174 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Net revenue | $ 81,002 | $ 107,399 |
Cost of sales | 26,416 | 40,767 |
Gross profit | 54,586 | 66,632 |
Operating expenses: | ||
Selling and marketing | 26,958 | 41,448 |
General and administrative | 22,514 | 28,630 |
Research and development | 2,791 | 4,095 |
Amortization of intangible assets | 5,212 | 4,788 |
Restructuring costs | 2,365 | 0 |
Impairment expense | 0 | 5,705 |
Gain from contingent consideration | 0 | (969) |
Total operating expenses | 59,840 | 83,697 |
Loss from operations | (5,254) | (17,065) |
Other income, net | 568 | 184 |
Interest expense | (4,792) | (4,963) |
Derivative, Gain (Loss) on Derivative, Net | (4,004) | 4,793 |
Loss before income tax | (14,076) | (17,051) |
Income tax expense | (1,768) | 0 |
Net loss | $ (15,844) | $ (17,051) |
Basic and diluted weighted-average common shares outstanding (in shares) | 5,537,957 | 3,339,906 |
Basic and diluted net loss per share (in dollars per share) | $ (2.86) | $ (5.11) |
Avenue Capital Loan [Member] | ||
Operating expenses: | ||
Loss on extinguishment of debt | $ (594) | $ 0 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Jun. 30, 2022 | 1,928,941 | |||
Balance at Jun. 30, 2022 | $ 0 | $ 331,386 | $ (287,078) | $ 44,308 |
Stock-based compensation expense (in shares) | (18,180) | |||
Stock-based compensation expense | $ 0 | 6,046 | 0 | 6,046 |
Issuance of common stock, net of $1,004 issuance cost (in shares) | 3,606,413 | |||
Issuance of common stock, net of $1,004 issuance cost | $ 1 | 6,053 | 0 | 6,054 |
Net loss | $ 0 | (17,051) | (17,051) | |
Balance (in shares) at Jun. 30, 2023 | 5,517,174 | |||
Balance at Jun. 30, 2023 | $ 1 | 343,485 | (304,129) | 39,357 |
Stock-based compensation expense (in shares) | 14,250 | |||
Stock-based compensation expense | $ 0 | 2,913 | 0 | 2,913 |
Net loss | $ 0 | (15,844) | (15,844) | |
Issuance of common stock from exercise of warrants (in shares) | 441,214 | |||
Issuance of common stock from exercise of warrants | $ 0 | 1,290 | 0 | 1,290 |
Balance (in shares) at Jun. 30, 2024 | 5,972,638 | |||
Balance at Jun. 30, 2024 | $ 1 | $ 347,688 | $ (319,973) | $ 27,716 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) $ in Thousands | 12 Months Ended |
Jun. 30, 2023 USD ($) | |
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 1,004 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ (15,844) | $ (17,051) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Depreciation, amortization and accretion | 8,272 | 8,815 |
Stock-based compensation expense | 2,913 | 6,046 |
Derivative warrant liabilities loss (gain) | 4,004 | (4,793) |
Amortization of debt discount and issuance costs | 597 | 559 |
Inventory write-down | 2,270 | 2,351 |
Asset Impairment Charges | 0 | 5,705 |
Gain from contingent consideration | 0 | (969) |
Non-cash loss on extinguishment of debt | 400 | 0 |
Other non-cash adjustments | 660 | 7 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 5,320 | (7,153) |
Inventories | (2,908) | (3,609) |
Prepaid expenses and other current assets | 1,527 | 846 |
Accounts payable | (2,879) | 2,384 |
Accrued liabilities | (9,567) | 3,605 |
Other operating assets and liabilities, net | 3,847 | (1,872) |
Net cash used in operating activities | (1,388) | (5,129) |
Cash flows from investing activities: | ||
Other investing activities | (329) | (117) |
Net cash used in investing activities | (329) | (117) |
Cash flows from financing activities: | ||
Net proceeds from issuance of common stock and warrants | 3,467 | 15,575 |
Payment made to fixed payment arrangement | (2,566) | (4,266) |
Net proceeds (payments) made on revolving credit facility | 832 | (2,250) |
Payments made to borrowings | (15,722) | (96) |
Proceeds from borrowings | 13,000 | 0 |
Payment for debt issuance costs | (273) | (92) |
Net cash (used in) provided by financing activities | (1,262) | 8,871 |
Net change in cash and cash equivalents | (2,979) | 3,625 |
Cash and cash equivalents at beginning of period | 22,985 | 19,360 |
Cash and cash equivalents at end of period | 20,006 | 22,985 |
Supplemental disclosure of cash flows information: | ||
Cash paid for interest | 4,039 | 3,812 |
Cash paid for income taxes | 1,608 | 0 |
Non-cash investing and financing activities: | ||
Other non-cash investing and financing activities | $ 787 | $ 147 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Financial Condition | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Aytu BioPharma, Inc. (“Aytu,” the “Company,” “we,” “us,” or “our”), is a pharmaceutical company focused on commercializing novel therapeutics. The Company was originally incorporated as Rosewind Corporation on August 9, 2002, June 8, 2015. March 2021 ( The Company’s strategy is to become a leading pharmaceutical company that improves the lives of patients. The Company uses a focused approach of in-licensing, acquiring, developing, and commercializing novel prescription therapeutics in order to continue building its portfolio of revenue-generating products and leveraging its commercial team’s expertise to build leading brands within large therapeutic markets. The Company’s primary focus is on commercializing innovative prescription products that address conditions frequently developed or diagnosed in childhood, including attention deficit hyperactivity disorder (“ADHD”). The Company operates through two third The Rx Segment primarily consists of two first second first two The Consumer Health Segment consisted of multiple consumer health products competing in large healthcare categories including allergy, hair regrowth, diabetes support, digestive health, sexual and urological health and general wellness, which was commercialized through direct mail and e-commerce marketing channels. The Company began to wind down the Consumer Health Segment in fiscal 2024. first 2025, During the fourth 2024, January 2025, June 2028. June 2028 June 30, 2024 ( Note 10 Note 11 2024 June 30, 2024, 10 June 30, 2024 ( 10 10 not The Company’s consolidated financial Statements and notes thereto have been prepared assuming that the Company will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business within one |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Principals of Consolidation The Company’s consolidated financial statements and notes thereto include the accounts of: Aytu Therapeutics, LLC, Innovus Pharmaceuticals, Inc. and Neos Therapeutics, Inc. and their respective wholly owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. Basis of Presentation The Company’s consolidated financial statements and notes thereto have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) Going Concern Determination In connection with the preparation for each annual and interim financial reporting period, management evaluates whether there are events that, in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern within one one Note 1 Use of Estimates The preparation of financial statements and footnotes requires the use of management estimates, judgments and assumptions. Actual results may not Prior Period Reclassification . Certain prior year amounts in the Company’s consolidated financial statements and the notes thereto have been reclassified to conform to the current year presentation. These reclassifications did not June 30, 2024, 2023, June 30, 2024 June 30, 2023 Previously Reported Prepaid Expenses Information During the year ended June 30, 2024, June 30, 2023, June 30, 2023. No. 99, not 10 Cash and Cash Equivalents The Company’s primary objectives for investment of available cash are the preservation of capital and the maintenance of liquidity. The Company invests its available cash balances in bank deposits and money market funds. The cash balances in bank deposits are subject to the Federal Deposit Insurance Corporation (“FDIC”) insurance limits, and cash balances in the money market funds are not three Accounts Receivable, Net Accounts receivable represent amounts due from customers less allowances for credit losses, discounts and pricing chargebacks. An allowance for credit losses, when needed, is based on the best estimate of the amount of probable credit losses in existing accounts receivable, which is determined from the Company’s historical write-off experience and expected future default probabilities based on ongoing evaluations of Company’s customers’ financial condition; payment history; collections experience on other accounts; and economic factors or events expected to affect future collections. An allowance for credit losses, when needed, consists of an amount identified for specific customers and an amount based on overall estimated exposure. Accounts receivable are customer obligations due under normal trade terms. Recovery of bad debt amounts which were previously written off are recorded as a reduction of bad debt expense in the period the payment is collected. If the Company’s actual collection experience changes, revisions to the Company’s allowance for credit losses may zero June 30, 2024, 2023. June 30, 2024, 2023, June 30, 2024, 2023. The table below presents the opening and closing balances of accounts receivable, gross from customers. Accounts Receivable, Gross (in thousands) Balance, June 30, 2022 $ 24,219 Increase in accounts receivable, gross 7,708 Balance, June 30, 2023 31,927 Decrease in accounts receivable, gross (6,488 ) Balance, June 30, 2024 $ 25,439 The table below details the change in allowance for discounts and allowance for chargebacks for the periods presented. Allowance for Discounts Allowance for Chargebacks Total Allowance (in thousands) Balances, June 30, 2022 $ 1,301 $ 1,206 $ 2,507 Reduction of net revenue 9,074 4,554 13,628 Payments (8,597 ) (4,548 ) (13,145 ) Balances, June 30, 2023 1,778 1,212 2,990 Reduction of net revenue 4,886 3,812 8,698 Payments (6,024 ) (3,842 ) (9,866 ) Balances, June 30, 2024 $ 640 $ 1,182 $ 1,822 Inventories Inventories consist of raw materials, work in process and finished goods and are recorded at the lower of cost or net realizable value, with cost determined on a first first The Company periodically reviews the composition of its inventories in order to identify obsolete, slow-moving or otherwise unsaleable items. In the event that such items are identified and there are no Property and Equipment Property and equipment are recorded at cost less accumulated depreciation. Furniture and equipment are depreciated on a straight-line basis over their estimated useful lives which are generally two seven Leases At the inception of an arrangement, the Company determines if an arrangement is, or contains, a lease. Lease classification, recognition and measurement are determined at the lease commencement date. Lease liabilities and right-of-use (“ROU”) assets are recorded based on the present value of lease payments over the expected lease term, including options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. In determining the present value of the lease payments, the Company uses the implicit interest rate when readily determinable and uses the Company’s incremental borrowing rate when the implicit rate is not Fixed lease payments, or in substance fixed, are recognized over the expected term of the lease using the effective interest method. Variable lease payments are expensed as incurred. Fixed and variable lease expenses on operating leases are recognized within cost of sales and operating expenses in the Company’s consolidated statements of operations. ROU asset amortization and interest costs on financing leases are recorded within cost of sales and interest expense, respectively, in the Company’s consolidated statements of operations. The Company has elected to account for payments on short-term leases as lease expense on a straight-line basis over lease terms of 12 Operating leases are included in other liabilities in the Company’s consolidated balance sheets. Financing leases are included in property and equipment, net, current portion of debt and debt, net of current portion in the Company’s consolidated balance sheets. Fair Value of Financial Instruments Acquisitions In an acquisition of a business or a group of assets, the Company uses the acquisition method of accounting which identifies, recognizes, and measures the identifiable assets acquired, liabilities assumed and any non-controlling interest at their acquisition date fair values. Any excess of the purchase consideration over the fair values of the net identifiable assets acquired is recorded as goodwill. If the Company determines the assets acquired do not not Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, 480” 815, 815” 480, 480, 815, Revenue Recognition The Company generates revenue from product sales through its Rx Segment and its Consumer Health Segment. The Company evaluates its contracts with customers to determine revenue recognition using the following five 1 2 3 4 5 not Rx Segment Net product sales for the Rx Segment (which includes the ADHD Portfolio and the Pediatric Portfolio) consist of sales of prescription pharmaceutical products, principally to a limited number of wholesale distributors and pharmacies in the United States. Rx Segment net revenue is recognized at the point in time that control of the product transfers to the customer in accordance with shipping terms (i.e., upon delivery), which is generally “free-on-board” destination when shipped domestically within the United States and “free-on-board” shipping point when shipped internationally consistent with the contractual terms. The Company expenses the incremental costs to obtain a contract as incurred, since they are satisfied within one Rx Segment net revenue is recognized net of consideration paid to the Company’s customers and other adjustments to the transaction price (known as “Gross to Net” adjustments). Significant judgement is required in estimating Gross to Net adjustments considering legal interpretations of applicable laws and regulations, historical experience, payer channel mix, current contract prices under applicable programs, unbilled claims, processing time lags and inventory levels in the distribution channel. The Gross to Net adjustments include: ● Savings offers. ● Prompt payment discounts. ● Wholesale distribution fees. ● Rebates. third ● Wholesaler chargebacks. ● Returns. six twelve Savings offers, rebates and wholesaler chargebacks reflect the terms of underlying agreements, which may may not not Consumer Health Segment The Consumer Health Segment, which was divested of in the first 2025, one Concentration of Credit Risk . Financial instruments that potentially subject the Company to credit risk concentrations consist of cash, cash equivalents and accounts receivable. The Company maintains deposits in financial institutions in excess of federally insured limits. The Company periodically monitors the credit quality of the financial institutions with which it invests and believes that the Company is not The Company is also subject to credit risk from accounts receivable related to product sales. The Company’s customers, sometimes referred to as partners or customers, are primarily large wholesale distributors that resell the Company’s products to retailers. The loss of one not thirty sixty The following table presents customers that contributed more than 10% : Percentage of Gross Revenue Percentage of Accounts Receivable June 30, June 30, 2024 2023 2024 2023 Customer A 33 % 43 % 40 % 50 % Customer B 20 % 18 % 29 % 19 % Customer C 17 % 17 % 11 % 14 % Costs of Sales Costs of sales consists primarily of manufactured product cost, products acquired from third may third Stock-Based Compensation Expense The Company accounts for stock-based payment compensation expense using a fair value based model. Restricted stock and restricted stock unit grants are valued based on the estimated grant date fair value of the Company’s common stock and recognized ratably over the requisite service period. Stock option grants are valued using the Black-Scholes option pricing model and compensation costs are recognized ratably over the period of service using the graded method. The Black-Scholes option pricing model requires the Company to estimate the expected term of the award, the expected volatility, the risk-free interest rate, and the expected dividends. The expected term is determined using the “simplified method,” which is the midpoint between the vesting date and the end of the contractual term and is utilized by the Company as it does not not Employee Benefits Plan The Company has a 401 401 401 first 401 June 30, 2024, 2023. Research and Development Research and development costs are expensed as incurred and include salaries and benefits; facilities costs; overhead costs; raw materials; laboratory and clinical supplies; clinical trial costs; contract services; milestone payments and fees paid to regulatory authorities for review and approval of the Company’s product candidates; and other related costs. Intangible Assets The Company records acquired intangible assets based on fair value on the date of acquisition. Finite-lived intangible assets are recorded at cost and amortized on a straight-line basis over the estimated lives of the assets. Indefinite-lived intangible assets are not Impairment of Long-lived Assets The Company assesses impairment of asset groups, including intangible assets, when events or changes in circumstances indicate that their carrying amount may not not not Contingent Consideration The consideration for the Company's acquired businesses and licenses often includes future payments that are contingent upon the occurrence of a particular event or events. The Company records an obligation for such contingent payments at fair value on the acquisition date. Changes in the fair value of contingent consideration obligations are recognized in the consolidated statements of income, which resulted in a gain from contingent consideration of zero June 30, 2024, 2023, not June 30, 2024, 2023. Advertising and Direct Marketing Costs Advertising and direct marketing costs consist of the direct marketing activities related to the Consumer Health Segment. The Company expenses all advertising costs as incurred. The Company incurred $4.9 million and $17.2 million of advertising costs for the years ended June 30, 2024, 2023 Income Taxes The provision for income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and net operating loss and tax credit carryforwards. The amount of deferred taxes on these temporary differences is determined using the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, as applicable, based on tax rates and laws in the respective tax jurisdiction enacted as of the balance sheet date. A valuation allowance is recorded to reduce the net deferred tax asset when it is more likely than not not The Company recognizes the effect of income tax positions only if those positions are more likely than not Debt Discount and Issuance Costs Debt issuance costs reflect fees paid to lenders and third Segment Information The Company’s operating segments engage in business activities from which it may two Paragraph IV Litigation Costs Legal costs incurred by the Company in the enforcement of the Company’s intellectual property rights are charged to expense. Business Combinations The Company recognizes the identifiable tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The excess of purchase price over the aggregate fair values is recorded as goodwill. The Company calculates the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed to allocate the purchase price at the acquisition date. Employee Retention Credit On March 27, 2020, 19 70% December 31, 2020, September 30, 2021. 19 As there is no 20, 20” 20, first 2024. 20, 1986, first 2024. Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing the net income (loss) available to the common stockholders by the weighted average number of common shares outstanding during that period. Diluted net income (loss) per share reflects the potential of securities that could share in the net income (loss) of the Company. For the years ended June 30, 2024, 2023 not The following table sets forth securities excluded from the calculation of diluted earnings per share. June 30, 2024 2023 Warrants to purchase common stock - liability classified (Note 16) 6,057,766 6,498,980 Warrants to purchase common stock - equity classified (Note 16) 18,114 39,072 Employee stock options (Note 15) 146,539 52,762 Employee unvested restricted stock (Note 15) 25,360 40,996 Employee unvested restricted stock units (Note 15) 1,775 4,963 Total 6,249,554 6,636,773 Recently Adopted Accounting Pronouncements Financial Instruments - Credit Losses In June 2016, No. 2016 13, Financial Instruments—Credit Losses 2016 13” 2016 13 December 15, 2019. October 2019, December 15, 2022. 2022 02 2016 13. 2016 13 2019 05 July 1, 2023. 2016 13, 2019 05, 2022 02 not Recent Accounting Pronouncements Not Debt Debt with Conversion and Other Options In August 2020, No. 2020 06, Debt—Debt with Conversion and Other Options (Subtopic 470 20 815 40 no December 15, 2023, July 1, 2024, not Segment Reporting In November 2023, No. 2023 07, Segment Reporting (Topic 280 2023 07” 2023 07 2023 07 December 15, 2023, December 15, 2024. Other than the application of IAS 20 no no not June 30, 2024 10 |
Note 3 - Revenue
Note 3 - Revenue | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 3 The Company disaggregates its revenue into two first 2025. ten Revenues by Segment Net revenue disaggregated by segment for the years ended June 30, 2024, 2023 Year Ended June 30, 2024 2023 (in thousands) Rx Segment net revenue $ 65,183 $ 73,799 Consumer Health Segment net revenue 15,819 33,600 Total net revenue $ 81,002 $ 107,399 Revenues by Product Portfolio Net revenue disaggregated by significant product portfolios in the Rx Segment for the years ended June 30, 2024, 2023 Year Ended June 30, 2024 2023 (in thousands) ADHD Portfolio net revenue $ 57,784 $ 46,855 Pediatric Portfolio net revenue 7,280 25,377 Other 119 1,567 Total Rx Segment net revenue $ 65,183 $ 73,799 Other includes discontinued and deprioritized products in the Rx Segment. The Consumer Health Segment was comprised of one Revenues by Geographic Location Net revenue disaggregated by geographic location as determined by the billing address of the Company’s customers for the years ended June 30, 2024, 2023 Year Ended June 30, 2024 2023 (in thousands) United States net revenue $ 80,911 $ 106,918 International net revenue 91 481 Total net revenue $ 81,002 $ 107,399 |
Note 4 - Inventories
Note 4 - Inventories | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 4 Inventories consist of the following: June 30, 2024 2023 (in thousands) Raw materials $ 266 $ 1,301 Work in process 5,725 2,956 Finished goods 6,642 7,738 Inventories $ 12,633 $ 11,995 The Company incurred inventory write-downs of $2.3 million for the year ended June 30, 2024, June 30, 2023, |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5 Property and equipment, net consist of the following: June 30, 2024 2023 (in thousands) Manufacturing equipment $ 1,117 $ 2,433 Office equipment, furniture and other 945 1,125 Lab equipment 721 832 Leasehold improvements 35 999 Assets under construction — 107 Property and equipment, gross 2,818 5,496 Less accumulated depreciation and amortization (2,125 ) (3,681 ) Property and equipment, net $ 693 $ 1,815 Depreciation expense was $0.9 million and $1.3 million during the years ended June 30, 2024, 2023 June 30, 2024, not June 30, 2023 |
Note 6 - Leases
Note 6 - Leases | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Leases Disclosure [Text Block] | Note 6 The Company’s operating leases are for its offices, manufacturing facilities and equipment, and its finance leases were for equipment. These leases have original lease periods expiring between 2022 2030. may not June 30, 2024. In connection with the Neos Acquisition, Aytu assumed an operating lease ROU asset and lease liability of $3.5 million, which represented the present value of the remaining lease payments as of the acquisition date, for the office space and manufacturing facilities at Grand Prairie, Texas. As the lease agreement does not During the fourth 2024, December 31, 2026, December 31, 2024, In June 2024, July 2024. July 31, 2030, one five July 2035. not July 2024. In May 2023, September 2023 ( five not Note 18 The components of lease expenses are as follows: Year Ended June 30, 2024 2023 Statement of Operations Classification (in thousands) Lease cost: Operating lease cost $ 2,247 $ 1,402 Operating expenses Short-term lease cost 94 97 Operating expenses Finance lease cost: Amortization of leased assets 53 66 Cost of sales Interest on lease liabilities 3 9 Interest expense Total lease cost $ 2,397 $ 1,574 Supplemental balance sheet information related to leases is as follows: June 30, 2024 2023 Balance Sheet Classification (in thousands) Assets: Operating lease assets $ 829 $ 2,054 Operating lease right-of-use assets Finance lease assets — 159 Property and equipment, net Total lease assets $ 829 $ 2,213 Liabilities: Current: Operating leases $ 712 $ 1,258 Other current liabilities Finance leases — 85 Current portion of debt Non-current: Operating leases 577 832 Other liabilities Total lease liabilities $ 1,289 $ 2,175 The remaining weighted-average lease term and discount rate used are as follows: June 30, 2024 2023 Weighted-average remaining lease term (years): Operating lease assets 2.7 1.7 Finance lease assets — 0.9 Weighted-average discount rate: Operating lease assets 10.0 % 7.8 % Finance lease assets — % 6.5 % Supplemental cash flow information related to leases is as follows: Year Ended June 30, 2024 2023 (in thousands) Cash flow classification of lease payments: Operating cash flows from operating leases $ 1,812 $ 1,436 Operating cash flows from finance leases $ 3 $ 9 Financing cash flows from finance leases $ 85 $ 96 As of June 30, 2024 not June 30, 2024 Operating (in thousands) 2025 $ 970 2026 399 2027 377 2028 386 2029 359 Thereafter 249 Total lease payments 2,740 Less: imputed interest (555 ) Lease liabilities $ 2,185 |
Note 7 - Intangible Assets
Note 7 - Intangible Assets - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Income Statement [Abstract] | ||
Asset Impairment Charges | $ 0 | $ 5,705 |
Notes to Financial Statements | ||
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 A summary of the Company’s intangible assets as of June 30, 2024 June 30, 2023 June 30, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-Average Remaining Life (in thousands) (in years) Acquired product technology rights $ 41,268 $ (13,184 ) $ 28,084 10.5 Acquired technology rights 30,200 (5,831 ) 24,369 13.8 Total definite-lived intangible assets $ 71,468 $ (19,015 ) $ 52,453 12.0 June 30, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-Average Remaining Life (in thousands) (in years) Acquired product technology rights $ 42,176 $ (10,881 ) $ 31,295 11.5 Acquired technology rights 30,200 (4,054 ) 26,146 14.8 Acquired product distribution rights 6,207 (4,678 ) 1,529 1.0 Total definite-lived intangible assets $ 78,583 $ (19,613 ) $ 58,970 12.7 Gross carrying amounts are net of any impairment charges from prior periods. An intangible asset with zero not June 30, 2024, 2023 The following table summarizes the estimated future amortization expense of intangible assets to be recognized over the next five June 30, (in thousands) 2025 $ 4,989 2026 4,989 2027 4,989 2028 4,989 2029 4,989 Thereafter 27,508 Total future amortization expense $ 52,453 Acquired Product Technology Rights The acquired product technology rights are related to the rights to production, supply and distribution agreements of various products pursuant to the acquisition of the Pediatric Portfolio in November 2019 March 2021. Karbinal The Company acquired and assumed all rights and obligations pursuant to the supply and distribution agreement, as amended, with Tris Pharma, Inc. (“Tris”) for the exclusive rights to commercialize Karbinal in the United States (the “Tris Karbinal Agreement”). The Tris Karbinal Agreement’s initial term terminates in August 2033, Poly-Vi-Flor and Tri-Vi-Flor The Company acquired and assumed all rights and obligations pursuant to a supply and license agreement and various assignment and release agreements, including a previously agreed to settlement and license agreements (the “Poly-Tri Agreements”) for the exclusive rights to commercialize Poly-Vi-Flor and Tri-Vi-Flor in the United States. ADHD Portfolio As part of the Neos Acquisition, the Company acquired developed product technology for the production and sale of Adzenys and Cotempla. The formulations for the ADHD products are protected by patented technology. The estimated economic life of these proprietary technologies is 16 years. Acquired Technology Right TRRP Proprietary Technology As part of the Neos Acquisition, the Company acquired time release resin particle (“TRRP”) proprietary technology, which is a proprietary drug delivery technology protected by the Company as a trade secret that allows the Company to modify the drug release characteristics of each of its respective products. The TRRP technology underlines each of the ADHD Portfolio core products and can potentially be used in future product development initiatives as well. Acquired Product Distribution Rights In connection with the acquisition of Innovus Pharmaceuticals, Inc. (“Innovus”) in February 2020 ( 35 300 June 30, 2023, impaired June 30, 2024, Acquired In-Process R&D IPR&D NT0502 As part of the Neos Acquisition, the Company acquired in-process research and development associated with NT0502, June 30, 2023, NT0502. NT0502, second 2023. |
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Accrued Liabilities [Text Block] | Note 8 Accrued liabilities consist of the following: June 30, 2024 2023 (in thousands) Accrued savings offers $ 11,054 $ 15,739 Accrued program liabilities 9,964 11,012 Accrued customer and product related fees 5,395 6,579 Accrued compensation 4,935 5,675 Return reserve 4,835 5,777 Other accrued liabilities 2,391 2,017 Total accrued liabilities $ 38,574 $ 46,799 Accrued savings offers represent programs for the Company’s patients covered under commercial payor plans in which the cost of a prescription to such patients is discounted. Accrued program liabilities include government and commercial rebates. Accrued customer and product related fees include accrued expenses and deductions for rebates, wholesaler chargebacks and fees, and other product-related fees and deductions such as royalties for Pediatric Portfolio products, accrued distributor fees, and Medicaid liabilities. Accrued employee compensation includes sales commissions, paid time off earned, accrued payroll and accrued bonus. The return reserve represents the Company’s accrual for estimated product returns. Other accrued liabilities consist of various other accruals, none five The following table details the change in return reserve for the periods presented: Return Reserve (in thousands) Balance, June 30, 2022 $ 5,770 Reduction of net revenue 8,353 Payments (8,346 ) Balance, June 30, 2023 5,777 Reduction of net revenue 6,128 Payments (7,070 ) Balance, June 30, 2024 $ 4,835 |
Note 9 - Other Liabilities
Note 9 - Other Liabilities | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | Note 9 Other liabilities consist of the following: June 30, 2024 2023 (in thousands) Fixed payment arrangements $ 8,337 $ 10,420 Employee retention credit 3,759 — Operating lease liabilities 1,289 2,090 Other 106 1,555 Total other liabilities 13,491 14,065 Less: current portion of other liabilities (8,962 ) (7,090 ) Total other liabilities, non-current $ 4,529 $ 6,975 Fixed payment arrangements Fixed payment arrangements represent obligations to an investor assumed as part of the acquisition of products from Cerecor, Inc. in 2019, In May 2022, November 2, 2018, June 30, 2024, July 2024. The Tris Karbinal Agreement grants the Company exclusive right to distribute and sell the product in the United States. The initial term of the agreement was 20 years. The Company pays Tris a royalty equal to 23.5% of net revenue from the product. The Tris Karbinal Agreement also contains minimum unit sales commitments, which is based on a commercial year that spans from August 1 July 31, 2025. 2025. August first June 30, 2024, Employee Retention Credit The $3.8 million ERC accrual in other non-current liabilities as of June 30, 2024, first 2024. Note 2 Operating Lease Liabilities The Company has entered into various operating lease agreements for certain of its offices, manufacturing facilities and equipment. Please refer to Note 6 Other Other consists of taxes payable, deferred cost related to the Company’s technology transfer, and various other accruals, none five |
Note 10 - Revolving Credit Faci
Note 10 - Revolving Credit Facility | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] | Note 10 On June 12, 2024, No. 5 No. 5” October 2, 2019, No. 1, March 19, 2021, No. 2, January 26, 2022, No. 3, June 1, 2022, No. 4 March 24, 2023, No. 5 No. 5, two Note 11 June 12, 2028, June 30, 2024. In the event that, for any reason, all or any portion of the Eclipse Agreement is terminated prior to the scheduled maturity date, in addition to the payment of all outstanding principal and unpaid accrued interest, the Company is required to pay a fee equal to (i) 2.0% of the Eclipse Revolving Loan commitment if such event occurs on or before June 12, 2025, ( June 12, 2025, June 12, 2026, June 12, 2026, June 12, 2028. may Note 11 may The Eclipse Agreement contains customary affirmative covenants, negative covenants and events of default, as defined in the agreement, including covenants and restrictions that, among other things, require the Company to satisfy certain capital expenditure limitations and other financial covenants, and restrict the Company’s ability to incur liens, incur additional indebtedness, make certain dividends and distributions with respect to equity securities, engage in mergers and acquisitions or make asset sales without the prior written consent of Eclipse. A failure to comply with these covenants could permit Eclipse to declare the Company’s obligations under the Eclipse Agreement, together with accrued interest and fees, to be immediately due and payable, plus any applicable additional amounts relating to a prepayment or termination, as described above. As of June 30, 2024 The Company allocated debt issuance costs of $0.1 million related to the Eclipse Revolving Loan, bringing to the total debt issuance costs related to the Eclipse Revolving Loan to $0.2 million, which will be amortized straight-line over the term of the loan. June 30, 2024, 2023 June 30, 2024, 2023 June 30, 2024 |
Note 11 - Long-term Debt
Note 11 - Long-term Debt | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note 11 Avenue Capital Loan On January 26, 2022 ( January 26, 2025. Pursuant to the Avenue Capital Agreement, the Company was required to make interest only payments for the first 18 six June 15, 2023, 1” six December 31, 2023, ( 1 12 On January 26, 2022 ( June 30, 2022, January 31, 2027. not On March 7, 2022, Note 15 July 7, 2022, March 7, 2022, On October 25, 2022, January 2022, January 2024. August 2022 On June 13, 2023, Note 16 January 26, 2025. In addition to the debt discount discussed above, the Company also incurred $0.4 million loan origination, legal and other fees. The debt discount and issuance costs were being amortized over the term of the loan, using the effective interest method resulting in an effective rate of 16.6%. Total interest expense on the Avenue Capital loan including debt discount amortization, were $3.4 million and $2.7 million for the years ended June 30, 2024, 2023 . On June 12, 2024, fourth 2024. Eclipse Term Loan On June 12, 2024, No. 5, Note 10 four June 12, 2028, seven four June 12, 2028, June 30, 2024. In the event that, for any reason, all or any portion of the Eclipse Agreement is terminated prior to the scheduled maturity date, in addition to the payment of all outstanding principal and unpaid accrued interest, the Company is required to pay a fee equal to (i) 3.0% of the Eclipse Term Loan if such event occurs on or before June 12, 2025, ( June 12, 2025, June 12, 2026, ( June 12, 2026, June 12, 2027, June 12, 2026, June 12, 2028. may Note 10 may The Eclipse Agreement contains customary affirmative covenants, negative covenants and events of default, as defined in the agreement, including covenants and restrictions that, among other things, require the Company to satisfy certain capital expenditure limitations and other financial covenants, and restricts the Company’s ability to incur liens, incur additional indebtedness, make certain dividends and distributions with respect to equity securities, engage in mergers and acquisitions or make certain asset sales without the prior written consent of the Eclipse Lender. A failure to comply with these covenants could permit the Eclipse Lender to declare the Company’s obligations under the agreement, together with accrued interest and fees, to be immediately due and payable, plus any applicable additional amounts relating to a prepayment or termination, as described above. As of June 30, 2024 The Company recorded total debt discount and allocated debt issuance costs of $0.3 million related to the Eclipse Term Loan, which will be amortized over the term of the loan. The Company incurred interest expense on the Eclipse Term Loan, including debt discount and issuance costs amortization, of $0.1 million for the year ended June 30, 2024. Long-term debt consists of the following: June 30, 2024 2023 (in thousands) Term loan principal amount $ 13,000 $ 15,000 Unamortized debt discount and issuance costs (266 ) (925 ) Final payment fee — 638 Financing leases — 85 Total debt 12,734 14,798 Less: current portion of debt (1,857 ) (85 ) Total debt, net of current portion $ 10,877 $ 14,713 Future principal payments of long-term debt are as follows: June 30, (in thousands) 2025 $ 1,857 2026 1,857 2027 1,857 2028 7,429 Total future term loan principal payments 13,000 Less: unamortized debt discount and issuance costs (266 ) Less: current portion of debt (1,857 ) Total debt, net of current portion $ 10,877 |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Income Statement [Abstract] | ||
Asset Impairment Charges | $ 0 | $ 5,705 |
Notes to Financial Statements | ||
Fair Value Disclosures [Text Block] | Note 12 The Company determines the fair value of financial and non-financial assets using the fair value hierarchy, which establishes three may Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to Aytu for identical assets or liabilities; Level 2: Inputs 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 The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, derivative warrant liabilities, contingent consideration liabilities, fixed payment arrangements, and current and non-current debt. The carrying amounts of certain short-term financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to their short maturities. Current and non-current debt are reported at their amortized costs on the Company’s consolidated balance sheets. The remaining financial instruments are reported on the Company’s consolidated balance sheets at amounts that approximate current fair values. The Company’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. There were no 1, 2 3 Recurring Fair Value Measurement The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2024, 2023 Fair Value at Fair Value Measurements at June 30, 2024 June 30, 2024 (Level 1) (Level 2) (Level 3) (in thousands) Liabilities: Derivative warrant liabilities $ 12,745 $ — $ — $ 12,745 Total $ 12,745 $ — $ — $ 12,745 Fair Value at Fair Value Measurements at June 30, 2023 June 30, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Liabilities: Derivative warrant liabilities $ 6,403 $ — $ — $ 6,403 Total $ 6,403 $ — $ — $ 6,403 Cash and cash equivalents in the consolidated balance sheets include bank deposits and money market funds and reflect their fair value at Level 1 Non-Recurring Fair Value Measurement The Company’s financial assets and liabilities that were accounted for at fair value on a non-recurring basis during the years ended June 30, 2024, 2023 Fixed payment arrangements are recognized at their amortized cost basis using market appropriate discount rates and are accreted up to their notional face value over time. Significant assumptions used in valuing the fixed payment arrangements were discount rates from 10.0% to 15.4% and are classified as Level 3 May 2022, Note 9 Based on the Company’s impairment analyses for fiscal 2024 2023 not June 30, 2024 impairment charge June 30, 2023 3 may Note 7 Note 2 Summary of Level 3 The following table sets forth a summary of changes to those fair value measures using Level 3 June 30, 2024 Derivative Warrant Liabilities (in thousands) Balance as of June 30, 2022 $ 1,796 Issued 10,998 Settlements — Included in earnings (6,391 ) Balance as of June 30, 2023 6,403 Issued (1) 5,148 Settlements (1) (2,810 ) Included in earnings 4,004 Balance as of June 30, 2024 $ 12,745 ( 1 Primarily relates to warrants to purchase 2,173,912 common shares issued with the Company’s June 2023 June 2024. Note 14 Note 16 Level 3 Significant assumptions as of June 30, 2024, June 2023 Warrants Warrants Tranche A Other (1) Monte Carlo & Black-Scholes Black-Scholes Aytu closing stock price $ 2.92 $ 2.92 Equivalent term (years) 3.9 2.6 - 3.2 Expected volatility 80.3 % 83.2% - 87.5% Risk-free rate 4.4 % 4.5% - 4.6% Dividend yield 0 % 0% ( 1 Includes August 2022 March 2022 Note 16 |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 13 For fiscal 2024 382 June 30, 2024 For fiscal 2023, zero zero June 30, 2023, Section 382 Under the provisions of the IRC, substantial changes in the Company’s ownership have resulted in limitations on the amount of NOL carryforwards that can be utilized in future years. NOL carryforwards are subject to examination in the year they are utilized regardless of whether the tax year in which they are generated has been closed by statute. The amount subject to disallowance is limited to the NOL utilized. Accordingly, the Company may As part of the Company’s Section 382 March 2022 2023 80% June 2023 382 June 30, 2023. 2024, June 2023 382 The Company had federal net operating losses of $519.6 million as of June 30, 2024, 2037. June 30, 2024, 2025 382 not 2025 2039. As of June 30, 2024 The Company notes there is diversity in practice regarding the treatment of deductions or loss carryforwards that are expected to expire unutilized. Generally, it is not zero may zero not zero In review of the Company’s consolidated deferred position, excluding NOLs and other tax attributes, the Company is in a net DTA position and therefore all NOLs are being fully valued and not The provision for income taxes consisted of the following: Year Ended June 30, 2024 2023 (in thousands) Current: Federal $ 1,549 $ 80 State 219 46 Total current tax expense 1,768 126 Deferred: Federal — (109 ) State — (17 ) Total deferred tax expense — (126 ) Provision for income taxes $ 1,768 $ — Income tax expense resulting from applying statutory rates in jurisdictions in which the Company is taxed (federal and various states) differs from the income tax expense in the financial statements. A reconciliation of the United States federal statutory income tax rates to the Company’s effective tax rate is as follows. Year Ended June 30, 2024 2023 (in thousands, except tax rate) Tax at statutory rate $ (2,956 ) 21.0 % $ (3,581 ) 21.0 % State income taxes, net of federal benefit (779 ) 5.5 % (430 ) 2.5 % Stock-based compensation expense 19 (0.1 )% — — % Contingent consideration — — % (193 ) 1.2 % Change in valuation allowance 5,447 (38.7 )% 4,087 (24.0 )% Other 37 (0.3 )% 117 (0.7 )% Net income tax expense $ 1,768 (12.6 )% $ — (0.0 )% Deferred income taxes arise from temporary differences in the recognition of certain items for income tax and financial reporting purposes. The approximate tax effects of significant temporary differences, which comprise the deferred tax assets and liabilities, are as follows: June 30, 2024 2023 (in thousands) Deferred tax assets: Net operating loss carry forward $ 119,170 $ 113,819 Interest 4,845 4,188 Accrued rebates 3,819 6,994 Warrant derivatives 3,061 1,504 Research and development credits 2,416 2,416 Stock-based compensation expense 1,259 4,250 Accrued expenses 1,027 758 Section 174 capitalization 780 836 Inventory 256 743 Lease liability 305 492 Fixed assets 99 — Other 975 1,332 Total deferred tax assets 138,012 137,332 Less: valuation allowance (137,250 ) (135,954 ) Deferred tax assets, net of valuation allowance 762 1,378 Deferred tax liabilities: Intangibles (563 ) (845 ) ROU asset (199 ) (483 ) Fixed assets — (50 ) Total deferred tax liabilities (762 ) (1,378 ) Net deferred tax liabilities $ — $ — The Company has recorded a valuation allowance of $137.3 million and $136.0 million at June 30, 2024, 2023 not not not The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company has no not June 30, 2024, 2023 A tabular roll-forward of the Company’s gross unrecognized tax benefit related to uncertain tax positions is below. June 30, 2024 2023 (in thousands) Beginning balances $ 2,948 $ 2,822 Decrease resulting from current period tax positions (1,996 ) (120 ) Increase resulting from current period tax positions 361 246 Ending balances $ 1,313 $ 2,948 The change in the Company’s gross unrecognized tax benefits relates to filed method changes with the IRS for the tax return year ending June 30, 2023. 2005 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 14 Equity The Company has 200.0 million shares of common stock authorized with a par value of $0.0001 per share and 50.0 million shares of preferred stock authorized with a par value of $0.0001 per share. As of June 30, 2024, 2023 June 30, 2024, On June 8, 2020, 3, June 17, 2020. June 4, 2021, 2020 June 30, 2023, 2020 June 2023 July 2023. On September 28, 2021, 3, October 7, 2021. “2021 June 30, 2024, 2021 1.B.6 3. 2021 October 2024. 2021 10 “2024 On March 7, 2022, 2021 “March 2022 one April 2022. six five March 2022 Note 16 On August 11, 2022, “August 2022 2021 one one August 2022. five August 2022 Note 16 On June 8, 2023, “June 2023 may June 2023 one may five 30 200% 40 June 2024 June 2023 not Note 16 On June 14, 2024, Note 11 |
Note 15 - Equity Incentive Plan
Note 15 - Equity Incentive Plans | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 15 2023 On May 18, 2023, 2023 “2023 2023 2015 2015 2015 2015 2015 “2015 2023 2015 2023 2015 2023 2023 no 2015 2023 June 30, 2024 2023 Aytu 2015 On June 1, 2015, 2015 July 2017, February 13, 2020, 2015 2015 2023 Neos 2015 Pursuant to the Neos Acquisition, the Company assumed 3,486 stock options and 1,786 restricted stock units previously granted under the Neos 2015 April 19, 2021, 2015 2015 Stock Options During the year ended June 30, 2024 June 30, 2024 June 30, 2024 June 30, 2023, June 30, 2023, June 30, 2023, Stock option activity is as follows: Weighted Average Weighted Remaining Number of Average Contractual Options Exercise Price Life in Years Outstanding at June 30, 2023 52,762 $ 18.37 9.1 Granted 113,500 $ 1.74 9.2 Forfeited/cancelled (16,610 ) $ 3.20 — Expired (3,113 ) $ 66.84 — Outstanding at June 30, 2024 146,539 $ 6.18 8.8 Exercisable at June 30, 2024 25,068 $ 26.06 8.0 The following table details the options outstanding at June 30, 2024 Weighted Average Remaining Weighted Contractual Range of Number of Average Life of Number of Weighted Exercise Options Exercise Options Options Average Prices Outstanding Price Outstanding Exercisable Exercise Price $1.73 102,000 $ 1.73 9.1 — $ — $2.53 1,500 $ 2.53 9.6 — $ — $4.00 - $290.00 43,039 $ 16.85 8.1 25,068 $ 225.74 146,539 $ 6.18 8.8 25,068 $ 225.74 Restricted Stock During the year ended June 30, 2024, 2023 1/3 1/12 first During the year ended June 30, 2023, two On December 19, 2022, 2021 June 30, 2023. During the year ended June 30, 2023, 2015 1/3 1/12 first Restricted stock activity under the 2023 Weighted Average Grant Number of Date Fair Shares Value Unvested at June 30, 2023 38,075 $ 142.20 Granted 12,500 $ 1.77 Vested (25,971 ) $ 113.37 Forfeited/cancelled (499 ) $ 147.15 Unvested at June 30, 2024 24,105 $ 100.34 As of June 30, 2024 June 30, 2024 The Company previously issued 4 shares of restricted stock outside of the Aytu 2015 July 2026. January 17, 2022, 2015 1/3 January 17, 2023, 1/12 January 17, 2025. June 30, 2024 Restricted Stock Units For the years ended June 30, 2024 2023, not Weighted Average Grant Number of Date Fair Shares Value Unvested at June 30, 2023 4,963 $ 25.62 Vested (2,249 ) $ 24.28 Forfeited/cancelled (939 ) $ 31.60 Unvested at June 30, 2024 1,775 $ 24.14 As of June 30, 2024 June 30, 2024 Stock-based compensation expense related to the fair value of stock options, restricted stock and RSUs was included in the consolidated statements of operations as set forth in the below table: Year Ended June 30, 2024 2023 (in thousands) Cost of sales $ 2 $ 28 Research and development 6 30 Selling and marketing — 23 General and administrative 2,905 5,965 Total stock-based compensation expense $ 2,913 $ 6,046 |
Note 16 - Warrants
Note 16 - Warrants | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Warrants or Rights Disclosure [Text Block] | Note 16 Liability Classified Warrants The Company accounts for liability classified warrants by recording the fair value of each instrument in its entirety and recording the fair value of the warrant derivative liability. The fair value of liability classified derivative financial instruments was calculated using either the Black-Scholes option pricing model or the Monte Carlo simulation model and is revalued every quarter. Changes in the fair value of liability classified derivative financial instruments in subsequent periods are recorded as unrealized derivative gain or loss in the consolidated statements of operations. On June 8, 2023, June 2023 may June 2023 one may five 30 200% 40 June 2024 June 2023 not Note 14 On June 14, 2024, not Note 11 On August 11, 2022, August 2022 one one August 2022. five x five 20 16th second Note 14 In November 2022 December 31, 2022, August 2022 January 6, 2023, 1 five twenty December 30, 2022. June 2023, August 2022 On March 7, 2022, one April 2022. six five Note 14 On January 26, 2022, Note 11 June 30, 2022, January 31, 2027. not Note 11 Outstanding warrants that are classified as derivative warrant liabilities in the consolidated balance sheets are marked to market at each reporting period (see Note 12 A summary of warrants is as follows: Weighted Average Weighted Remaining Number of Average Contractual Warrants Exercise Price Life in Years (4) Outstanding June 30, 2023 (1) 6,538,052 $ 4.42 4.7 Warrants issued (2) 1,806,434 $ 0.0001 N/A Warrants exercised (2,247,648 ) $ 1.61 — Warrants expired (20,958 ) $ 300.00 — Outstanding June 30, 2024 (3) 6,075,880 $ 3.71 3.1 ( 1 The number of warrants outstanding as of June 30, 2023, June 2023 ( 2 The warrants issued during fiscal 2024 ( 3 The number of warrants outstanding as of June 30, 2024, June 2023 ( 4 As pre-funded warrants do not |
Note 17 - Restructuring Costs
Note 17 - Restructuring Costs | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | Note 17 As part of the Company’s previously announced restructuring activities related to the wind down and divestiture of the Consumer Health Segment and the closure of the Grand Prairie, Texas manufacturing site (Rx Segment), the Company has incurred expenses that qualify as exit and disposal costs under U.S. GAAP. These include severance and employee benefit costs as well as other direct separation benefit costs, right of use asset impairment charges, fixed asset and other asset impairment charges, accelerated depreciation of fixed assets, contract termination costs, and inventory write-downs. Severance and employee benefit costs primarily relate to cash severance. The expense associated with severance and employee benefits and exit and disposal activities are included in restructuring costs in the consolidated statements of operations and expense associated with inventory write-downs is recorded in cost of sales in the consolidated statements of operations. The Company does not 2025. June 30, 2024, not June 30, 2024, A summary of restructuring costs incurred during the year ended June 30, 2024, Year Ended June 30, 2024 Severance and Employee Benefits (1) Exit and Disposal Activities (1) Inventory Write-Down (2) Total (in thousands) Wind down of Consumer Health Segment (3) $ 20 $ 189 $ 730 $ 939 Closure of Grand Prairie, Texas manufacturing site (4) 1,125 1,031 — 2,156 Total $ 1,145 $ 1,220 $ 730 $ 3,095 ( 1 Expense associated with severance and employee benefits and exit and disposal activities are included in restructuring costs in the consolidated statements of operations. ( 2 Expense associated with inventory write-downs is recorded in cost of sales in the consolidated statements of operations. ( 3 Expense associated with the wind down of the Consumer Health Segment is related to the Consumer Health Segment. ( 4 Expense associated with the closure of the Grand Prairie, Texas manufacturing site is related to the Rx Segment. |
Note 18 - Commitments and Conti
Note 18 - Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 18 Pediatric Portfolio Fixed Payments and Product Milestone The Company assumed two fixed, periodic payment obligations to an investor (the “Fixed Obligation”). Under the first November 1, 2019, January 2021, January 2021 second February 2026, January 2020. On May 29, 2020, first January 2021. On June 21, 2021, second six six September 30, 2021. January 2023. The Company acquired the Tris Karbinal Agreement, under which the Company is granted the exclusive right to distribute and sell Karbinal in the United States. The initial term of the agreement was 20 years. The Company pays Tris a royalty equal to 23.5% of net revenue from the product. The Tris Karbinal Agreement also contains minimum unit sales commitments, which is based on a commercial year that spans from August 1 July 31, 2025. 70,000 2025. August first June 30, 2024, Operating Lease In June 2024, July 2024. March 1, 2025, July 31, 2030, one five July 2035. In May 2023, October 1, 2023, five one five March 2034. Legal Matters Witmer Class-Action Securities Litigation A stockholder derivative suit was filed on September12, 2022, April 5, 2023. 2019 2020 not Sabby Litigation A complaint was filed on February 22, 2023, may October 2023, Stein Litigation Cielo Stein (“Stein”), a former sales specialist, filed a complaint on February 1, 2023, 16 June 3, 2024. August 5, 2024. |
Note 19 - License Agreements
Note 19 - License Agreements | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Licensing Agreements [Text Block] | Note 19 Healight In April 2020, ten first As a result of the Company’s focus on the revenue growth of its commercial business, the Company terminated the licensing agreement with Cedars-Sinai Medical Center, effective May 9, 2023. NeuRx In October 2018, 101, NT0502. NT0502 may first In April 2023, NT0502 NT0502. Teva On December 21, 2018, July 1, 2026, June 19, 2020. Actavis On October 17, 2017, September 1, 2025, June 22, 2023. Shire In July 2014, “2014 No. 204326 2014 February 2016. May 2023. |
Note 20 - Segment Information
Note 20 - Segment Information | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 20 The Company’s CODM, who is the Company’s Chief Executive Officer, allocates resources and assesses performance based on financial information of the Company. The CODM reviews financial information presented for each reportable segment for purposes of making operating decisions and assessing financial performance. The Company manages and aggregates its operational and financial information in accordance with two not not Select financial information for these segments is as follows: Rx Consumer Health Consolidated (in thousands) Year Ended June 30, 2024 Net revenue $ 65,183 $ 15,819 $ 81,002 Loss from operations $ (1,590 ) $ (3,664 ) $ (5,254 ) Depreciation and amortization $ 5,909 $ 1,547 $ 7,456 Stock-based compensation expense $ 2,373 $ 540 $ 2,913 Restructuring costs $ 2,156 $ 209 $ 2,365 Year Ended June 30, 2023 Net revenue $ 73,799 $ 33,600 $ 107,399 Loss from operations $ (7,358 ) $ (9,707 ) $ (17,065 ) Depreciation and amortization $ 6,271 $ 1,116 $ 7,387 Stock-based compensation expense $ 5,722 $ 324 $ 6,046 Impairment expense $ 2,730 $ 2,975 $ 5,705 |
Note 21 - Subsequent Events
Note 21 - Subsequent Events | 12 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 21 Wind Down and Subsequent Divestiture of Consumer Health Business In July 2024, July 31, 2024, July 31, 2024. |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Jun. 30, 2024 | |
Insider Trading Arr Line Items | |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principals of Consolidation The Company’s consolidated financial statements and notes thereto include the accounts of: Aytu Therapeutics, LLC, Innovus Pharmaceuticals, Inc. and Neos Therapeutics, Inc. and their respective wholly owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The Company’s consolidated financial statements and notes thereto have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) |
Going Concern [Policy Text Block] | Going Concern Determination In connection with the preparation for each annual and interim financial reporting period, management evaluates whether there are events that, in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern within one one Note 1 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements and footnotes requires the use of management estimates, judgments and assumptions. Actual results may not |
Reclassification, Comparability Adjustment [Policy Text Block] | Prior Period Reclassification . Certain prior year amounts in the Company’s consolidated financial statements and the notes thereto have been reclassified to conform to the current year presentation. These reclassifications did not June 30, 2024, 2023, June 30, 2024 June 30, 2023 Previously Reported Prepaid Expenses Information During the year ended June 30, 2024, June 30, 2023, June 30, 2023. No. 99, not 10 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company’s primary objectives for investment of available cash are the preservation of capital and the maintenance of liquidity. The Company invests its available cash balances in bank deposits and money market funds. The cash balances in bank deposits are subject to the Federal Deposit Insurance Corporation (“FDIC”) insurance limits, and cash balances in the money market funds are not three |
Accounts Receivable [Policy Text Block] | Accounts Receivable, Net Accounts receivable represent amounts due from customers less allowances for credit losses, discounts and pricing chargebacks. An allowance for credit losses, when needed, is based on the best estimate of the amount of probable credit losses in existing accounts receivable, which is determined from the Company’s historical write-off experience and expected future default probabilities based on ongoing evaluations of Company’s customers’ financial condition; payment history; collections experience on other accounts; and economic factors or events expected to affect future collections. An allowance for credit losses, when needed, consists of an amount identified for specific customers and an amount based on overall estimated exposure. Accounts receivable are customer obligations due under normal trade terms. Recovery of bad debt amounts which were previously written off are recorded as a reduction of bad debt expense in the period the payment is collected. If the Company’s actual collection experience changes, revisions to the Company’s allowance for credit losses may zero June 30, 2024, 2023. June 30, 2024, 2023, June 30, 2024, 2023. The table below presents the opening and closing balances of accounts receivable, gross from customers. Accounts Receivable, Gross (in thousands) Balance, June 30, 2022 $ 24,219 Increase in accounts receivable, gross 7,708 Balance, June 30, 2023 31,927 Decrease in accounts receivable, gross (6,488 ) Balance, June 30, 2024 $ 25,439 The table below details the change in allowance for discounts and allowance for chargebacks for the periods presented. Allowance for Discounts Allowance for Chargebacks Total Allowance (in thousands) Balances, June 30, 2022 $ 1,301 $ 1,206 $ 2,507 Reduction of net revenue 9,074 4,554 13,628 Payments (8,597 ) (4,548 ) (13,145 ) Balances, June 30, 2023 1,778 1,212 2,990 Reduction of net revenue 4,886 3,812 8,698 Payments (6,024 ) (3,842 ) (9,866 ) Balances, June 30, 2024 $ 640 $ 1,182 $ 1,822 |
Inventory, Policy [Policy Text Block] | Inventories Inventories consist of raw materials, work in process and finished goods and are recorded at the lower of cost or net realizable value, with cost determined on a first first The Company periodically reviews the composition of its inventories in order to identify obsolete, slow-moving or otherwise unsaleable items. In the event that such items are identified and there are no |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are recorded at cost less accumulated depreciation. Furniture and equipment are depreciated on a straight-line basis over their estimated useful lives which are generally two seven |
Lessee, Leases [Policy Text Block] | Leases At the inception of an arrangement, the Company determines if an arrangement is, or contains, a lease. Lease classification, recognition and measurement are determined at the lease commencement date. Lease liabilities and right-of-use (“ROU”) assets are recorded based on the present value of lease payments over the expected lease term, including options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. In determining the present value of the lease payments, the Company uses the implicit interest rate when readily determinable and uses the Company’s incremental borrowing rate when the implicit rate is not Fixed lease payments, or in substance fixed, are recognized over the expected term of the lease using the effective interest method. Variable lease payments are expensed as incurred. Fixed and variable lease expenses on operating leases are recognized within cost of sales and operating expenses in the Company’s consolidated statements of operations. ROU asset amortization and interest costs on financing leases are recorded within cost of sales and interest expense, respectively, in the Company’s consolidated statements of operations. The Company has elected to account for payments on short-term leases as lease expense on a straight-line basis over lease terms of 12 Operating leases are included in other liabilities in the Company’s consolidated balance sheets. Financing leases are included in property and equipment, net, current portion of debt and debt, net of current portion in the Company’s consolidated balance sheets. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Acquisitions In an acquisition of a business or a group of assets, the Company uses the acquisition method of accounting which identifies, recognizes, and measures the identifiable assets acquired, liabilities assumed and any non-controlling interest at their acquisition date fair values. Any excess of the purchase consideration over the fair values of the net identifiable assets acquired is recorded as goodwill. If the Company determines the assets acquired do not not Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, 480” 815, 815” 480, 480, 815, |
Revenue [Policy Text Block] | Revenue Recognition The Company generates revenue from product sales through its Rx Segment and its Consumer Health Segment. The Company evaluates its contracts with customers to determine revenue recognition using the following five 1 2 3 4 5 not Rx Segment Net product sales for the Rx Segment (which includes the ADHD Portfolio and the Pediatric Portfolio) consist of sales of prescription pharmaceutical products, principally to a limited number of wholesale distributors and pharmacies in the United States. Rx Segment net revenue is recognized at the point in time that control of the product transfers to the customer in accordance with shipping terms (i.e., upon delivery), which is generally “free-on-board” destination when shipped domestically within the United States and “free-on-board” shipping point when shipped internationally consistent with the contractual terms. The Company expenses the incremental costs to obtain a contract as incurred, since they are satisfied within one Rx Segment net revenue is recognized net of consideration paid to the Company’s customers and other adjustments to the transaction price (known as “Gross to Net” adjustments). Significant judgement is required in estimating Gross to Net adjustments considering legal interpretations of applicable laws and regulations, historical experience, payer channel mix, current contract prices under applicable programs, unbilled claims, processing time lags and inventory levels in the distribution channel. The Gross to Net adjustments include: ● Savings offers. ● Prompt payment discounts. ● Wholesale distribution fees. ● Rebates. third ● Wholesaler chargebacks. ● Returns. six twelve Savings offers, rebates and wholesaler chargebacks reflect the terms of underlying agreements, which may may not not Consumer Health Segment The Consumer Health Segment, which was divested of in the first 2025, one |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk . Financial instruments that potentially subject the Company to credit risk concentrations consist of cash, cash equivalents and accounts receivable. The Company maintains deposits in financial institutions in excess of federally insured limits. The Company periodically monitors the credit quality of the financial institutions with which it invests and believes that the Company is not The Company is also subject to credit risk from accounts receivable related to product sales. The Company’s customers, sometimes referred to as partners or customers, are primarily large wholesale distributors that resell the Company’s products to retailers. The loss of one not thirty sixty The following table presents customers that contributed more than 10% : Percentage of Gross Revenue Percentage of Accounts Receivable June 30, June 30, 2024 2023 2024 2023 Customer A 33 % 43 % 40 % 50 % Customer B 20 % 18 % 29 % 19 % Customer C 17 % 17 % 11 % 14 % |
Cost of Goods and Service [Policy Text Block] | Costs of Sales Costs of sales consists primarily of manufactured product cost, products acquired from third may third |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation Expense The Company accounts for stock-based payment compensation expense using a fair value based model. Restricted stock and restricted stock unit grants are valued based on the estimated grant date fair value of the Company’s common stock and recognized ratably over the requisite service period. Stock option grants are valued using the Black-Scholes option pricing model and compensation costs are recognized ratably over the period of service using the graded method. The Black-Scholes option pricing model requires the Company to estimate the expected term of the award, the expected volatility, the risk-free interest rate, and the expected dividends. The expected term is determined using the “simplified method,” which is the midpoint between the vesting date and the end of the contractual term and is utilized by the Company as it does not not |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Employee Benefits Plan The Company has a 401 401 401 first 401 June 30, 2024, 2023. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are expensed as incurred and include salaries and benefits; facilities costs; overhead costs; raw materials; laboratory and clinical supplies; clinical trial costs; contract services; milestone payments and fees paid to regulatory authorities for review and approval of the Company’s product candidates; and other related costs. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets The Company records acquired intangible assets based on fair value on the date of acquisition. Finite-lived intangible assets are recorded at cost and amortized on a straight-line basis over the estimated lives of the assets. Indefinite-lived intangible assets are not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-lived Assets The Company assesses impairment of asset groups, including intangible assets, when events or changes in circumstances indicate that their carrying amount may not not not |
Business Combinations, Contingent Consideration [Policy Text Block] | Contingent Consideration The consideration for the Company's acquired businesses and licenses often includes future payments that are contingent upon the occurrence of a particular event or events. The Company records an obligation for such contingent payments at fair value on the acquisition date. Changes in the fair value of contingent consideration obligations are recognized in the consolidated statements of income, which resulted in a gain from contingent consideration of zero June 30, 2024, 2023, not June 30, 2024, 2023. |
Advertising Cost [Policy Text Block] | Advertising and Direct Marketing Costs Advertising and direct marketing costs consist of the direct marketing activities related to the Consumer Health Segment. The Company expenses all advertising costs as incurred. The Company incurred $4.9 million and $17.2 million of advertising costs for the years ended June 30, 2024, 2023 |
Income Tax, Policy [Policy Text Block] | Income Taxes The provision for income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and net operating loss and tax credit carryforwards. The amount of deferred taxes on these temporary differences is determined using the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, as applicable, based on tax rates and laws in the respective tax jurisdiction enacted as of the balance sheet date. A valuation allowance is recorded to reduce the net deferred tax asset when it is more likely than not not The Company recognizes the effect of income tax positions only if those positions are more likely than not |
Debt, Policy [Policy Text Block] | Debt Discount and Issuance Costs Debt issuance costs reflect fees paid to lenders and third |
Segment Reporting, Policy [Policy Text Block] | Segment Information The Company’s operating segments engage in business activities from which it may two |
Legal Costs, Policy [Policy Text Block] | Paragraph IV Litigation Costs Legal costs incurred by the Company in the enforcement of the Company’s intellectual property rights are charged to expense. |
Business Combinations Policy [Policy Text Block] | Business Combinations The Company recognizes the identifiable tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The excess of purchase price over the aggregate fair values is recorded as goodwill. The Company calculates the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed to allocate the purchase price at the acquisition date. |
Employee Retention Credit [Policy Text Block] | Employee Retention Credit On March 27, 2020, 19 70% December 31, 2020, September 30, 2021. 19 As there is no 20, 20” 20, first 2024. 20, 1986, first 2024. |
Earnings Per Share, Policy [Policy Text Block] | Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing the net income (loss) available to the common stockholders by the weighted average number of common shares outstanding during that period. Diluted net income (loss) per share reflects the potential of securities that could share in the net income (loss) of the Company. For the years ended June 30, 2024, 2023 not The following table sets forth securities excluded from the calculation of diluted earnings per share. June 30, 2024 2023 Warrants to purchase common stock - liability classified (Note 16) 6,057,766 6,498,980 Warrants to purchase common stock - equity classified (Note 16) 18,114 39,072 Employee stock options (Note 15) 146,539 52,762 Employee unvested restricted stock (Note 15) 25,360 40,996 Employee unvested restricted stock units (Note 15) 1,775 4,963 Total 6,249,554 6,636,773 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements Financial Instruments - Credit Losses In June 2016, No. 2016 13, Financial Instruments—Credit Losses 2016 13” 2016 13 December 15, 2019. October 2019, December 15, 2022. 2022 02 2016 13. 2016 13 2019 05 July 1, 2023. 2016 13, 2019 05, 2022 02 not Recent Accounting Pronouncements Not Debt Debt with Conversion and Other Options In August 2020, No. 2020 06, Debt—Debt with Conversion and Other Options (Subtopic 470 20 815 40 no December 15, 2023, July 1, 2024, not Segment Reporting In November 2023, No. 2023 07, Segment Reporting (Topic 280 2023 07” 2023 07 2023 07 December 15, 2023, December 15, 2024. Other than the application of IAS 20 no no not June 30, 2024 10 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Accounts Receivable, Gross (in thousands) Balance, June 30, 2022 $ 24,219 Increase in accounts receivable, gross 7,708 Balance, June 30, 2023 31,927 Decrease in accounts receivable, gross (6,488 ) Balance, June 30, 2024 $ 25,439 |
Accounts Receivable, Allowance for Credit Loss [Table Text Block] | Allowance for Discounts Allowance for Chargebacks Total Allowance (in thousands) Balances, June 30, 2022 $ 1,301 $ 1,206 $ 2,507 Reduction of net revenue 9,074 4,554 13,628 Payments (8,597 ) (4,548 ) (13,145 ) Balances, June 30, 2023 1,778 1,212 2,990 Reduction of net revenue 4,886 3,812 8,698 Payments (6,024 ) (3,842 ) (9,866 ) Balances, June 30, 2024 $ 640 $ 1,182 $ 1,822 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Percentage of Gross Revenue Percentage of Accounts Receivable June 30, June 30, 2024 2023 2024 2023 Customer A 33 % 43 % 40 % 50 % Customer B 20 % 18 % 29 % 19 % Customer C 17 % 17 % 11 % 14 % |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | June 30, 2024 2023 Warrants to purchase common stock - liability classified (Note 16) 6,057,766 6,498,980 Warrants to purchase common stock - equity classified (Note 16) 18,114 39,072 Employee stock options (Note 15) 146,539 52,762 Employee unvested restricted stock (Note 15) 25,360 40,996 Employee unvested restricted stock units (Note 15) 1,775 4,963 Total 6,249,554 6,636,773 |
Note 3 - Revenue (Tables)
Note 3 - Revenue (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended June 30, 2024 2023 (in thousands) Rx Segment net revenue $ 65,183 $ 73,799 Consumer Health Segment net revenue 15,819 33,600 Total net revenue $ 81,002 $ 107,399 Year Ended June 30, 2024 2023 (in thousands) ADHD Portfolio net revenue $ 57,784 $ 46,855 Pediatric Portfolio net revenue 7,280 25,377 Other 119 1,567 Total Rx Segment net revenue $ 65,183 $ 73,799 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year Ended June 30, 2024 2023 (in thousands) United States net revenue $ 80,911 $ 106,918 International net revenue 91 481 Total net revenue $ 81,002 $ 107,399 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2024 2023 (in thousands) Raw materials $ 266 $ 1,301 Work in process 5,725 2,956 Finished goods 6,642 7,738 Inventories $ 12,633 $ 11,995 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2024 2023 (in thousands) Manufacturing equipment $ 1,117 $ 2,433 Office equipment, furniture and other 945 1,125 Lab equipment 721 832 Leasehold improvements 35 999 Assets under construction — 107 Property and equipment, gross 2,818 5,496 Less accumulated depreciation and amortization (2,125 ) (3,681 ) Property and equipment, net $ 693 $ 1,815 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended June 30, 2024 2023 Statement of Operations Classification (in thousands) Lease cost: Operating lease cost $ 2,247 $ 1,402 Operating expenses Short-term lease cost 94 97 Operating expenses Finance lease cost: Amortization of leased assets 53 66 Cost of sales Interest on lease liabilities 3 9 Interest expense Total lease cost $ 2,397 $ 1,574 June 30, 2024 2023 Weighted-average remaining lease term (years): Operating lease assets 2.7 1.7 Finance lease assets — 0.9 Weighted-average discount rate: Operating lease assets 10.0 % 7.8 % Finance lease assets — % 6.5 % Year Ended June 30, 2024 2023 (in thousands) Cash flow classification of lease payments: Operating cash flows from operating leases $ 1,812 $ 1,436 Operating cash flows from finance leases $ 3 $ 9 Financing cash flows from finance leases $ 85 $ 96 |
Schedule of Lease by Balance Sheet Information [Table Text Block] | June 30, 2024 2023 Balance Sheet Classification (in thousands) Assets: Operating lease assets $ 829 $ 2,054 Operating lease right-of-use assets Finance lease assets — 159 Property and equipment, net Total lease assets $ 829 $ 2,213 Liabilities: Current: Operating leases $ 712 $ 1,258 Other current liabilities Finance leases — 85 Current portion of debt Non-current: Operating leases 577 832 Other liabilities Total lease liabilities $ 1,289 $ 2,175 |
Lessee, Liability, Maturity [Table Text Block] | Operating (in thousands) 2025 $ 970 2026 399 2027 377 2028 386 2029 359 Thereafter 249 Total lease payments 2,740 Less: imputed interest (555 ) Lease liabilities $ 2,185 |
Note 7 - Intangible Assets (Tab
Note 7 - Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-Average Remaining Life (in thousands) (in years) Acquired product technology rights $ 41,268 $ (13,184 ) $ 28,084 10.5 Acquired technology rights 30,200 (5,831 ) 24,369 13.8 Total definite-lived intangible assets $ 71,468 $ (19,015 ) $ 52,453 12.0 June 30, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-Average Remaining Life (in thousands) (in years) Acquired product technology rights $ 42,176 $ (10,881 ) $ 31,295 11.5 Acquired technology rights 30,200 (4,054 ) 26,146 14.8 Acquired product distribution rights 6,207 (4,678 ) 1,529 1.0 Total definite-lived intangible assets $ 78,583 $ (19,613 ) $ 58,970 12.7 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | June 30, (in thousands) 2025 $ 4,989 2026 4,989 2027 4,989 2028 4,989 2029 4,989 Thereafter 27,508 Total future amortization expense $ 52,453 |
Note 8 - Accrued Liabilities (T
Note 8 - Accrued Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, 2024 2023 (in thousands) Accrued savings offers $ 11,054 $ 15,739 Accrued program liabilities 9,964 11,012 Accrued customer and product related fees 5,395 6,579 Accrued compensation 4,935 5,675 Return reserve 4,835 5,777 Other accrued liabilities 2,391 2,017 Total accrued liabilities $ 38,574 $ 46,799 |
Summary of Valuation Allowance [Table Text Block] | Return Reserve (in thousands) Balance, June 30, 2022 $ 5,770 Reduction of net revenue 8,353 Payments (8,346 ) Balance, June 30, 2023 5,777 Reduction of net revenue 6,128 Payments (7,070 ) Balance, June 30, 2024 $ 4,835 |
Note 9 - Other Liabilities (Tab
Note 9 - Other Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Other Liabilities [Table Text Block] | June 30, 2024 2023 (in thousands) Fixed payment arrangements $ 8,337 $ 10,420 Employee retention credit 3,759 — Operating lease liabilities 1,289 2,090 Other 106 1,555 Total other liabilities 13,491 14,065 Less: current portion of other liabilities (8,962 ) (7,090 ) Total other liabilities, non-current $ 4,529 $ 6,975 |
Note 11 - Long-term Debt (Table
Note 11 - Long-term Debt (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | June 30, 2024 2023 (in thousands) Term loan principal amount $ 13,000 $ 15,000 Unamortized debt discount and issuance costs (266 ) (925 ) Final payment fee — 638 Financing leases — 85 Total debt 12,734 14,798 Less: current portion of debt (1,857 ) (85 ) Total debt, net of current portion $ 10,877 $ 14,713 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | June 30, (in thousands) 2025 $ 1,857 2026 1,857 2027 1,857 2028 7,429 Total future term loan principal payments 13,000 Less: unamortized debt discount and issuance costs (266 ) Less: current portion of debt (1,857 ) Total debt, net of current portion $ 10,877 |
Note 12 - Fair Value Measurem_2
Note 12 - Fair Value Measurements (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value at Fair Value Measurements at June 30, 2024 June 30, 2024 (Level 1) (Level 2) (Level 3) (in thousands) Liabilities: Derivative warrant liabilities $ 12,745 $ — $ — $ 12,745 Total $ 12,745 $ — $ — $ 12,745 Fair Value at Fair Value Measurements at June 30, 2023 June 30, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Liabilities: Derivative warrant liabilities $ 6,403 $ — $ — $ 6,403 Total $ 6,403 $ — $ — $ 6,403 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Derivative Warrant Liabilities (in thousands) Balance as of June 30, 2022 $ 1,796 Issued 10,998 Settlements — Included in earnings (6,391 ) Balance as of June 30, 2023 6,403 Issued (1) 5,148 Settlements (1) (2,810 ) Included in earnings 4,004 Balance as of June 30, 2024 $ 12,745 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | June 2023 Warrants Warrants Tranche A Other (1) Monte Carlo & Black-Scholes Black-Scholes Aytu closing stock price $ 2.92 $ 2.92 Equivalent term (years) 3.9 2.6 - 3.2 Expected volatility 80.3 % 83.2% - 87.5% Risk-free rate 4.4 % 4.5% - 4.6% Dividend yield 0 % 0% |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended June 30, 2024 2023 (in thousands) Current: Federal $ 1,549 $ 80 State 219 46 Total current tax expense 1,768 126 Deferred: Federal — (109 ) State — (17 ) Total deferred tax expense — (126 ) Provision for income taxes $ 1,768 $ — |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended June 30, 2024 2023 (in thousands, except tax rate) Tax at statutory rate $ (2,956 ) 21.0 % $ (3,581 ) 21.0 % State income taxes, net of federal benefit (779 ) 5.5 % (430 ) 2.5 % Stock-based compensation expense 19 (0.1 )% — — % Contingent consideration — — % (193 ) 1.2 % Change in valuation allowance 5,447 (38.7 )% 4,087 (24.0 )% Other 37 (0.3 )% 117 (0.7 )% Net income tax expense $ 1,768 (12.6 )% $ — (0.0 )% |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | June 30, 2024 2023 (in thousands) Deferred tax assets: Net operating loss carry forward $ 119,170 $ 113,819 Interest 4,845 4,188 Accrued rebates 3,819 6,994 Warrant derivatives 3,061 1,504 Research and development credits 2,416 2,416 Stock-based compensation expense 1,259 4,250 Accrued expenses 1,027 758 Section 174 capitalization 780 836 Inventory 256 743 Lease liability 305 492 Fixed assets 99 — Other 975 1,332 Total deferred tax assets 138,012 137,332 Less: valuation allowance (137,250 ) (135,954 ) Deferred tax assets, net of valuation allowance 762 1,378 Deferred tax liabilities: Intangibles (563 ) (845 ) ROU asset (199 ) (483 ) Fixed assets — (50 ) Total deferred tax liabilities (762 ) (1,378 ) Net deferred tax liabilities $ — $ — |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | June 30, 2024 2023 (in thousands) Beginning balances $ 2,948 $ 2,822 Decrease resulting from current period tax positions (1,996 ) (120 ) Increase resulting from current period tax positions 361 246 Ending balances $ 1,313 $ 2,948 |
Note 15 - Equity Incentive Pl_2
Note 15 - Equity Incentive Plans (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Weighted Remaining Number of Average Contractual Options Exercise Price Life in Years Outstanding at June 30, 2023 52,762 $ 18.37 9.1 Granted 113,500 $ 1.74 9.2 Forfeited/cancelled (16,610 ) $ 3.20 — Expired (3,113 ) $ 66.84 — Outstanding at June 30, 2024 146,539 $ 6.18 8.8 Exercisable at June 30, 2024 25,068 $ 26.06 8.0 |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Weighted Average Remaining Weighted Contractual Range of Number of Average Life of Number of Weighted Exercise Options Exercise Options Options Average Prices Outstanding Price Outstanding Exercisable Exercise Price $1.73 102,000 $ 1.73 9.1 — $ — $2.53 1,500 $ 2.53 9.6 — $ — $4.00 - $290.00 43,039 $ 16.85 8.1 25,068 $ 225.74 146,539 $ 6.18 8.8 25,068 $ 225.74 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Weighted Average Grant Number of Date Fair Shares Value Unvested at June 30, 2023 38,075 $ 142.20 Granted 12,500 $ 1.77 Vested (25,971 ) $ 113.37 Forfeited/cancelled (499 ) $ 147.15 Unvested at June 30, 2024 24,105 $ 100.34 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Weighted Average Grant Number of Date Fair Shares Value Unvested at June 30, 2023 4,963 $ 25.62 Vested (2,249 ) $ 24.28 Forfeited/cancelled (939 ) $ 31.60 Unvested at June 30, 2024 1,775 $ 24.14 |
Share-Based Payment Arrangement, Cost by Plan [Table Text Block] | Year Ended June 30, 2024 2023 (in thousands) Cost of sales $ 2 $ 28 Research and development 6 30 Selling and marketing — 23 General and administrative 2,905 5,965 Total stock-based compensation expense $ 2,913 $ 6,046 |
Note 16 - Warrants (Tables)
Note 16 - Warrants (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Average Weighted Remaining Number of Average Contractual Warrants Exercise Price Life in Years (4) Outstanding June 30, 2023 (1) 6,538,052 $ 4.42 4.7 Warrants issued (2) 1,806,434 $ 0.0001 N/A Warrants exercised (2,247,648 ) $ 1.61 — Warrants expired (20,958 ) $ 300.00 — Outstanding June 30, 2024 (3) 6,075,880 $ 3.71 3.1 |
Note 17 - Restructuring Costs (
Note 17 - Restructuring Costs (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Year Ended June 30, 2024 Severance and Employee Benefits (1) Exit and Disposal Activities (1) Inventory Write-Down (2) Total (in thousands) Wind down of Consumer Health Segment (3) $ 20 $ 189 $ 730 $ 939 Closure of Grand Prairie, Texas manufacturing site (4) 1,125 1,031 — 2,156 Total $ 1,145 $ 1,220 $ 730 $ 3,095 |
Note 20 - Segment Information (
Note 20 - Segment Information (Tables) | 12 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Rx Consumer Health Consolidated (in thousands) Year Ended June 30, 2024 Net revenue $ 65,183 $ 15,819 $ 81,002 Loss from operations $ (1,590 ) $ (3,664 ) $ (5,254 ) Depreciation and amortization $ 5,909 $ 1,547 $ 7,456 Stock-based compensation expense $ 2,373 $ 540 $ 2,913 Restructuring costs $ 2,156 $ 209 $ 2,365 Year Ended June 30, 2023 Net revenue $ 73,799 $ 33,600 $ 107,399 Loss from operations $ (7,358 ) $ (9,707 ) $ (17,065 ) Depreciation and amortization $ 6,271 $ 1,116 $ 7,387 Stock-based compensation expense $ 5,722 $ 324 $ 6,046 Impairment expense $ 2,730 $ 2,975 $ 5,705 |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Financial Condition (Details Textual) $ in Millions | 12 Months Ended | |
Jun. 30, 2024 USD ($) | Jun. 30, 2023 | |
Number of Operating Segments | 2 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 5.6 | |
Proceeds from Warrant Exercises | 3.5 | |
Avenue Capital Loan [Member] | ||
Extinguishment of Debt, Amount | 15 | |
Eclipse Term loan [Member] | ||
Proceeds from Issuance of Debt | 13 | |
Maximum [Member] | ||
Revenue-based Royalty Costs | $ 0.5 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 10 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 USD ($) | Apr. 29, 2024 | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | |
Prepaid Expense, Current | $ 5,635 | $ 7,162 | |||
Accounts Receivable, Allowance for Credit Loss | 0 | 0 | |||
Accounts Receivable, Allowance for Discounts | 640 | 1,778 | $ 1,301 | ||
Accounts Receivable, Allowance for Pricing Chargebacks | 1,182 | 1,212 | $ 1,206 | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 700 | ||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 0 | (969) | |||
Advertising Expense | $ 4,900 | 17,200 | |||
Number of Reportable Segments | 2 | 2 | |||
Employee Retention Credit | $ 3,759 | 0 | |||
Employee Retention Credit, Vendor Fee | $ 400 | ||||
Other Noncurrent Liabilities [Member] | |||||
Employee Retention Credit | $ 3,800 | $ 3,800 | |||
Neos Plan [Member] | First Three Percent Contribution By Employees [Member] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100% | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3% | ||||
Neos Plan [Member] | Next Four Percent and Five Percent Contribution By Employees [Member] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50% | ||||
Neos Plan [Member] | Next Four Percent Contribution By Employees [Member] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4% | ||||
Neos Plan [Member] | Next Five Percent Contribution By Employees [Member] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 5% | ||||
Minimum [Member] | |||||
Accounts Receivable, Credit Terms (Day) | 30 days | ||||
Maximum [Member] | |||||
Accounts Receivable, Credit Terms (Day) | 60 days | ||||
Furniture and Equipment [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 2 years | ||||
Furniture and Equipment [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 7 years | ||||
Immaterial Error Correction of Prepaid Expenses from Current Asset to Noncurrent Asset [Member] | Previously Reported [Member] | |||||
Prepaid Expense, Current | $ 1,800 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Balance | $ 31,927 | $ 24,219 |
Increase (decrease) in accounts receivable, gross | (6,488) | 7,708 |
Balance | $ 25,439 | $ 31,927 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Allowance for Credit Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Balance, allowance for discount | $ 1,778 | $ 1,301 |
Balance, allowance for chargeback | 1,212 | 1,206 |
Balance | 2,990 | 2,507 |
Reduction of net revenue, allowance for discount | 4,886 | 9,074 |
Reduction of net revenue, allowance for chargeback | 3,812 | 4,554 |
Reduction of net revenue | 8,698 | 13,628 |
Payments, allowance for discount | (6,024) | (8,597) |
Payments, allowance for chargeback | (3,842) | (4,548) |
Payments | (9,866) | (13,145) |
Reduction of net revenue | 8,698 | 13,628 |
Balance, allowance for discount | 640 | 1,778 |
Balance, allowance for chargeback | 1,182 | 1,212 |
Balance | $ 1,822 | $ 2,990 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Customer Concentration Risk [Member] | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Customer A [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Customer concentration risk | 33% | 43% |
Customer A [Member] | Accounts Receivable [Member] | ||
Customer concentration risk | 40% | 50% |
Customer B [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Customer concentration risk | 20% | 18% |
Customer B [Member] | Accounts Receivable [Member] | ||
Customer concentration risk | 29% | 19% |
Customer C [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Customer concentration risk | 17% | 17% |
Customer C [Member] | Accounts Receivable [Member] | ||
Customer concentration risk | 11% | 14% |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies - Securities Excluded from Calculation of Earnings Per Share (Details) - shares | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Securites excluded (in shares) | 6,249,554 | 6,636,773 |
Liability Warrants [Member] | ||
Securites excluded (in shares) | 6,057,766 | 6,498,980 |
Equity Warrants [Member] | ||
Securites excluded (in shares) | 18,114 | 39,072 |
Share-Based Payment Arrangement, Option [Member] | ||
Securites excluded (in shares) | 146,539 | 52,762 |
Restricted Stock [Member] | ||
Securites excluded (in shares) | 25,360 | 40,996 |
Restricted Stock Units (RSUs) [Member] | ||
Securites excluded (in shares) | 1,775 | 4,963 |
Note 3 - Revenue (Details Textu
Note 3 - Revenue (Details Textual) | 10 Months Ended | 12 Months Ended |
Apr. 29, 2024 | Jun. 30, 2024 | |
Number of Reportable Segments | 2 | 2 |
Consumer Health [Member] | Minimum [Member] | ||
Number of Products | 10 |
Note 3 - Revenue - Disaggregati
Note 3 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Revenue | $ 81,002 | $ 107,399 |
Rx Segment [Member] | ||
Revenue | 65,183 | 73,799 |
Rx Segment [Member] | ADHD Portfolio [Member] | ||
Revenue | 57,784 | 46,855 |
Rx Segment [Member] | The Pediatric Portfolio [Member] | ||
Revenue | 7,280 | 25,377 |
Rx Segment [Member] | Product and Service, Other [Member] | ||
Revenue | 119 | 1,567 |
Consumer Health [Member] | ||
Revenue | $ 15,819 | $ 33,600 |
Note 3 - Revenue - Revenue by G
Note 3 - Revenue - Revenue by Geographic Location (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Revenue | $ 81,002 | $ 107,399 |
UNITED STATES | ||
Revenue | 80,911 | 106,918 |
Non-US [Member] | ||
Revenue | $ 91 | $ 481 |
Note 4 - Inventories (Details T
Note 4 - Inventories (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | ||
Inventory Write-down | $ 2,270 | $ 2,351 | |
Restructuring Costs | 3,095 | ||
Inventory Write Downs [Member] | |||
Restructuring Costs | [1] | 730 | |
Inventory Write Downs [Member] | Consumer Health Segment [Member] | |||
Restructuring Costs | [1],[2] | $ 730 | |
[1]Expense associated with inventory write-downs is recorded in cost of sales in the consolidated statements of operations.[2]Expense associated with the wind down of the Consumer Health Segment is related to the Consumer Health Segment. |
Note 4 - Inventories - Schedule
Note 4 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Raw materials | $ 266 | $ 1,301 |
Work in process | 5,725 | 2,956 |
Finished goods | 6,642 | 7,738 |
Inventories | $ 12,633 | $ 11,995 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Depreciation | $ 900 | $ 1,300 |
Gain (Loss) on Disposition of Property Plant Equipment | $ 0 | $ 100 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Property and equipment, gross | $ 2,818 | $ 5,496 |
Less accumulated depreciation and amortization | (2,125) | (3,681) |
Property and equipment, net | 693 | 1,815 |
Manufacturing Equipment [Member] | ||
Property and equipment, gross | 1,117 | 2,433 |
Office Equipment, Furniture and Other [Member] | ||
Property and equipment, gross | 945 | 1,125 |
Lab Equipment [Member] | ||
Property and equipment, gross | 721 | 832 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 35 | 999 |
Asset under Construction [Member] | ||
Property and equipment, gross | $ 0 | $ 107 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | Jun. 30, 2024 | Jun. 30, 2023 | May 31, 2023 | Mar. 19, 2021 | Feb. 28, 2015 |
Finance Lease, Liability | $ 0 | $ 85,000 | |||
Operating Lease, Right-of-Use Asset | 829,000 | 2,054,000 | |||
Operating Lease, Liability | 1,289,000 | $ 2,090,000 | |||
Office Space And Manufacturing Facilities Grand Prairie Texas [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 3,500,000 | ||||
Lessee, Operating Lease, Discount Rate | 6.70% | ||||
Operating Lease, Liability | $ 3,500,000 | ||||
Office Space in Berwyn, Pennsylvania [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 500,000 | ||||
Lessee, Operating Lease, Discount Rate | 12.30% | ||||
Operating Lease, Undiscounted Minimum Monthly Payment | $ 13,000 | ||||
Operating Lease, Liability | $ 500,000 | ||||
Principal Office Denver Colorado [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 800,000 | ||||
Lessee, Operating Lease, Discount Rate | 10.30% | ||||
Operating Lease, Undiscounted Minimum Monthly Payment | $ 15,500 | ||||
Operating Lease, Liability | $ 800,000 | ||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years 6 months | 5 years |
Note 6 - Leases - Lease Cost (D
Note 6 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Total lease cost | $ 2,397 | $ 1,574 |
Operating lease assets (Year) | 2 years 8 months 12 days | 1 year 8 months 12 days |
Finance lease assets (Year) | 10 months 24 days | |
Operating lease assets | 10% | 7.80% |
Finance lease assets | 0% | 6.50% |
Operating cash flows from operating leases | $ 1,812 | $ 1,436 |
Operating cash flows from finance leases | 3 | 9 |
Financing cash flows from finance leases | 85 | 96 |
Operating Expense [Member] | ||
Operating lease cost | 2,247 | 1,402 |
Short-term lease cost | 94 | 97 |
Cost of Sales [Member] | ||
Amortization of leased assets | 53 | 66 |
Other Expense [Member] | ||
Interest on lease liabilities | $ 3 | $ 9 |
Note 6 - Leases - Lease Balance
Note 6 - Leases - Lease Balance Sheet Information (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Operating lease right-of-use assets | $ 829 | $ 2,054 |
Finance lease assets | 0 | 159 |
Total lease assets | 829 | 2,213 |
Operating leases, current | 712 | 1,258 |
Finance leases, current | 0 | 85 |
Operating leases, non-current | 577 | 832 |
Total lease liabilities | $ 1,289 | $ 2,175 |
Note 6 - Leases - Lease Balan_2
Note 6 - Leases - Lease Balance Sheet Information (Details) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Assets [Abstract] | ||
Property, Plant and Equipment, Net | $ 693 | $ 1,815 |
Liabilities, Current [Abstract] | ||
Other Liabilities, Current | 8,962 | 7,090 |
Long-Term Debt, Current Maturities | 1,857 | 85 |
Liabilities, Noncurrent [Abstract] | ||
Liabilities, Noncurrent | 28,151 | 28,091 |
Other Liabilities, Noncurrent | $ 4,529 | $ 6,975 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Property, Plant and Equipment, Net | Property, Plant and Equipment, Net |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Other Liabilities, Current | Other Liabilities, Current |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Long-Term Debt, Current Maturities | Long-Term Debt, Current Maturities |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Other Liabilities, Noncurrent | Other Liabilities, Noncurrent |
Note 6 - Leases - Schedule of L
Note 6 - Leases - Schedule of Lease Liability Maturity (Details) $ in Thousands | Jun. 30, 2024 USD ($) |
2025 | $ 970 |
2026 | 399 |
2027 | 377 |
2028 | 386 |
2029 | 359 |
Thereafter | 249 |
Total lease payments | 2,740 |
Less: imputed interest | (555) |
Lease liabilities | $ 2,185 |
Note 7 - Intangible Assets (Det
Note 7 - Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2022 | Jun. 30, 2024 | Jun. 30, 2023 | |
Income Statement [Abstract] | |||
Asset Impairment Charges | $ 0 | $ 5,705 | |
Goodwill | 0 | ||
Amortization Expense of Intangible Assets | $ 6,500 | $ 6,100 | |
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration] | Asset Impairment Charges | ||
Impairment of Intangible Assets, Finite-Lived | $ 3,000 | ||
Neos Therapeutics, Inc. [Member] | |||
Impairment of Intangible Assets, Finite-Lived | $ 2,600 | ||
Patented Technology [Member] | ADHD Portfolio [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 16 years | ||
Tris Karbinal Agreement [Member] | |||
Supply and Distribution Agreement, Extension Term (Year) | 20 years | ||
Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life, Renewable Period (Year) | 1 year | ||
Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life, Renewable Period (Year) | 20 years |
Note 7 - Intangible Assets - Sc
Note 7 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Finite-lived intangible assets, gross | $ 71,468 | $ 78,583 |
Finite-lived intangible assets, amortization | (19,015) | (19,613) |
Finite-lived intangible assets, net | $ 52,453 | $ 58,970 |
Finite-lived intangible assets, remaining life (Year) | 12 years | 12 years 8 months 12 days |
Technology-Based Intangible Assets [Member] | ||
Finite-lived intangible assets, gross | $ 41,268 | $ 42,176 |
Finite-lived intangible assets, amortization | (13,184) | (10,881) |
Finite-lived intangible assets, net | $ 28,084 | $ 31,295 |
Finite-lived intangible assets, remaining life (Year) | 10 years 6 months | 11 years 6 months |
Developed Technology Rights [Member] | ||
Finite-lived intangible assets, gross | $ 30,200 | $ 30,200 |
Finite-lived intangible assets, amortization | (5,831) | (4,054) |
Finite-lived intangible assets, net | $ 24,369 | $ 26,146 |
Finite-lived intangible assets, remaining life (Year) | 13 years 9 months 18 days | 14 years 9 months 18 days |
Distribution Rights [Member] | ||
Finite-lived intangible assets, gross | $ 6,207 | |
Finite-lived intangible assets, amortization | (4,678) | |
Finite-lived intangible assets, net | $ 1,529 | |
Finite-lived intangible assets, remaining life (Year) | 1 year |
Note 7 - Intangible Assets - Fu
Note 7 - Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
2025, future amortization expense | $ 4,989 | |
2026, future amortization expense | 4,989 | |
2027, future amortization expense | 4,989 | |
2028, future amortization expense | 4,989 | |
2029, future amortization expense | 4,989 | |
Thereafter, future amortization expense | 27,508 | |
Total future amortization expense | $ 52,453 | $ 58,970 |
Note 8 - Accrued Liabilities -
Note 8 - Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Accrued savings offers | $ 11,054 | $ 15,739 |
Accrued program liabilities | 9,964 | 11,012 |
Accrued customer and product related fees | 5,395 | 6,579 |
Accrued compensation | 4,935 | 5,675 |
Return reserve | 4,835 | 5,777 |
Other accrued liabilities | 2,391 | 2,017 |
Total accrued liabilities | $ 38,574 | $ 46,799 |
Note 8 - Accrued Liabilities _2
Note 8 - Accrued Liabilities - Schedule of Return Reserve (Details) - SEC Schedule, 12-09, Reserve, Return [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Balance | $ 5,777 | $ 5,770 |
Reduction of net revenue | 6,128 | 8,353 |
Payments | (7,070) | (8,346) |
Balance | $ 4,835 | $ 5,777 |
Note 9 - Other Liabilities (Det
Note 9 - Other Liabilities (Details Textual) | 12 Months Ended | ||
Jun. 30, 2024 USD ($) | Mar. 31, 2024 USD ($) | Jun. 30, 2023 USD ($) | |
Fixed Payment Arrangements | $ 8,337,000 | $ 10,420,000 | |
Employee Retention Credit | 3,759,000 | $ 0 | |
Business Combination, Contingent Consideration, Liability | 0 | ||
Other Noncurrent Liabilities [Member] | |||
Employee Retention Credit | 3,800,000 | $ 3,800,000 | |
Tris License Agreement [Member] | Other Current Liabilities [Member] | |||
Settlement Liabilities, Current | $ 6,200,000 | ||
Tris Karbinal Agreement [Member] | |||
Supply and Distribution Commitment, Period (Year) | 20 years | ||
Supply and Distribution Commitment, Royalty, Percentage of Net Sales | 23.50% | ||
Supply and Distribution Agreement, Minimum Sales Per Year | 70,000 | ||
Supply and Distribution Agreement, Royalty Make Whole Payment Under Annual Minimum Sales Commitment, Per Unit | $ 30 | ||
Supply and Distribution Agreement, Maximum Yearly Make-whole Payment | 2,100,000 | ||
Supply and Distribution Agreement, Maximum Milestone Obligations | 3,000,000 | ||
Supply and Distribution Agreement, First Milestone, Minimum Net Revenues | 40,000,000 | ||
Tris Karbinal Agreement [Member] | Other Current Liabilities [Member] | |||
Fixed Payment Arrangements | 1,900,000 | ||
Tris Karbinal Agreement [Member] | Other Noncurrent Liabilities [Member] | |||
Fixed Payment Arrangements | $ 200,000 |
Note 9 - Other Liabilities - Sc
Note 9 - Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Fixed payment arrangements | $ 8,337 | $ 10,420 |
Employee retention credit | 3,759 | 0 |
Operating Lease, Liability | 1,289 | 2,090 |
Other | 106 | 1,555 |
Total other liabilities | 13,491 | 14,065 |
Less: current portion of other liabilities | (8,962) | (7,090) |
Total other liabilities, non-current | $ 4,529 | $ 6,975 |
Note 10 - Revolving Credit Fa_2
Note 10 - Revolving Credit Facility (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |||
Jun. 12, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | Mar. 24, 2024 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 5.6 | |||
Eclipse Business Capital LLC Loan Agreement [Member] | Secured Debt [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 14.5 | |||
Debt Instrument, Basis Spread on Variable Rate | 4.50% | |||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | |||
Debt Instrument, Interest Rate, Effective Percentage | 9.90% | |||
Debt Issuance Costs, Current, Net | $ 0.1 | |||
Debt Issuance Costs, Net | 0.2 | |||
Interest Expense, Debt | 0.1 | $ 0.7 | ||
Long-Term Line of Credit | 2.4 | $ 1.6 | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 5.6 | |||
Eclipse Business Capital LLC Loan Agreement [Member] | Secured Debt [Member] | On or Before January 26, 2023 [Member] | ||||
Line of Credit Facility, Termination, Fee, Percentage of Commitment | 2% | |||
Eclipse Business Capital LLC Loan Agreement [Member] | Secured Debt [Member] | After January 26, 2023 But Before January 26, 2024 [Member] | ||||
Line of Credit Facility, Termination, Fee, Percentage of Commitment | 1% | |||
Eclipse Business Capital LLC Loan Agreement [Member] | Secured Debt [Member] | After January 26, 2024 But Before January 26, 2025 [Member] | ||||
Line of Credit Facility, Termination, Fee, Percentage of Commitment | 0.50% |
Note 11 - Long-term Debt (Detai
Note 11 - Long-term Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||
Jun. 12, 2024 | Jan. 26, 2022 | Jun. 30, 2024 | Jun. 30, 2023 | Oct. 25, 2022 | Mar. 07, 2022 | |
Debt Instrument, Final Payment | $ 0 | $ 638 | ||||
Long-Term Debt, Maturity, Year Four | 7,429 | |||||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $ 266 | 925 | ||||
Avenue Capital Issuance [Member] | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 25 | |||||
Avenue Capital Warrants [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 24.2 | $ 8.6 | $ 24.2 | |||
Warrants and Rights Outstanding | $ 600 | |||||
Avenue Capital Loan [Member] | ||||||
Debt Instrument, Face Amount | $ 15,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | |||||
Loan Processing Fee | $ 400 | |||||
Debt Instrument, Prepayment Fee, Percentage | 16.60% | |||||
Interest Expense, Debt | $ 3,400 | 2,700 | ||||
Debt Instrument, Final Payment | 600 | |||||
Gain (Loss) on Extinguishment of Debt | $ (594) | $ 0 | ||||
Avenue Capital Loan [Member] | After January 26, 2024 But Before January 26, 2025 [Member] | ||||||
Debt Instrument, Prepayment Fee, Percentage | 1% | |||||
Debt Instrument, Prepayment Fee, Amount | $ 200 | |||||
Avenue Capital Loan [Member] | Prime Rate [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 7.40% | |||||
Eclipse Term loan [Member] | ||||||
Debt Instrument, Face Amount | $ 13,000 | |||||
Interest Expense, Debt | 100 | |||||
Debt Instrument, Term (Year) | 4 years | |||||
Debt Instrument, Amortization Period (Year) | 7 years | |||||
Long-Term Debt, Maturity, Year Four | $ 5,600 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 12.40% | |||||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $ 300 | |||||
Eclipse Term loan [Member] | On or Before June 12 2025 [Member] | ||||||
Debt Instrument, Termination Fee, Percentage | 3% | |||||
Eclipse Term loan [Member] | After June 12, 2025, but on or before June 12, 2026 [Member] | ||||||
Debt Instrument, Termination Fee, Percentage | 2% | |||||
Eclipse Term loan [Member] | After June 12, 2026, but on or before June 12, 2027 [Member] | ||||||
Debt Instrument, Termination Fee, Percentage | 1% | |||||
Eclipse Term loan [Member] | After June 12, 2026, but on or before June 12, 2028 [Member] | ||||||
Debt Instrument, Termination Fee, Percentage | 0.50% | |||||
Eclipse Term loan [Member] | Secured Overnight Financing Rate (SOFR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 7% |
Note 11 - Long-term Debt - Sche
Note 11 - Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Term loan principal amount | $ 13,000 | $ 15,000 |
Less: unamortized debt discount and issuance costs | (266) | (925) |
Final payment fee | 0 | 638 |
Financing leases | 0 | 85 |
Total debt | 12,734 | 14,798 |
Less: current portion of debt | (1,857) | (85) |
Total debt, net of current portion | $ 10,877 | $ 14,713 |
Note 11 - Long-term Debt - Futu
Note 11 - Long-term Debt - Future Principal Payments (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
2025 | $ 1,857 | |
2026 | 1,857 | |
2027 | 1,857 | |
Long-Term Debt, Maturity, Year Four | 7,429 | |
Total future term loan principal payments | 13,000 | |
Less: unamortized debt discount and issuance costs | (266) | $ (925) |
Less: current portion of debt | (1,857) | (85) |
Total debt, net of current portion | $ 10,877 | $ 14,713 |
Note 12 - Fair Value Measurem_3
Note 12 - Fair Value Measurements (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Jun. 14, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 08, 2023 | May 31, 2022 | |
Income Statement [Abstract] | |||||
Asset Impairment Charges | $ 0 | $ 5,705 | |||
Fixed Payment Arrangements | 8,337 | 10,420 | |||
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | $ 5,600 | |||
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration] | Asset Impairment Charges | ||||
Tranche B Common Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,806,434 | 2,173,912 | |||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 367,478 | ||||
Tranche B Pre-Funded Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,806,434 | 1,806,434 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | ||||
Fair Value, Nonrecurring [Member] | |||||
Fixed Payment Arrangements | $ 7,600 | ||||
Fair Value, Nonrecurring [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | |||||
Fixed Payment Arrangements, Measurement Input | 10% | ||||
Fair Value, Nonrecurring [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | |||||
Fixed Payment Arrangements, Measurement Input | 15.40% |
Note 12 - Fair Value Measurem_4
Note 12 - Fair Value Measurements - Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Derivative warrant liabilities | $ 12,745 | $ 6,403 |
Financial liabilities, fair value | 12,745 | 6,403 |
Fair Value, Inputs, Level 1 [Member] | ||
Derivative warrant liabilities | 0 | 0 |
Financial liabilities, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Derivative warrant liabilities | 0 | 0 |
Financial liabilities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Derivative warrant liabilities | 12,745 | 6,403 |
Financial liabilities, fair value | $ 12,745 | $ 6,403 |
Note 12 - Fair Value Measurem_5
Note 12 - Fair Value Measurements - Summary of Level 3 Changes (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | ||
Balance | $ 6,403 | $ 1,796 | |
Issued | 5,148 | [1] | 10,998 |
Settlements | (2,810) | [1] | 0 |
Included in earnings | 4,004 | (6,391) | |
Balance | $ 12,745 | $ 6,403 | |
[1]Primarily relates to warrants to purchase 2,173,912 common shares issued with the Company’s June 2023 equity financing that were exercised in June 2024. The warrants were converted into 367,478 shares of common stock (“Settlements”) and 1,806,434 pre-funded warrants to purchase shares of common stock with an exercise price of $0.0001 per share (“Issued”). See Note 14 - Stockholders’ Equity and Note 16 - Warrants for further detail. |
Note 12 - Fair Value Measurem_6
Note 12 - Fair Value Measurements - Summary of Level 3 Changes (Details) (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Income Statement [Abstract] | ||
Derivative, Gain (Loss) on Derivative, Net | $ (4,004) | $ 4,793 |
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Derivative, Gain (Loss) on Derivative, Net | Derivative, Gain (Loss) on Derivative, Net |
Note 12 - Fair Value Measurem_7
Note 12 - Fair Value Measurements - Valuation Assumptions (Details) | Jun. 30, 2024 | |
Measurement Input, Share Price [Member] | June 2023 Warrants Tranche A [Member] | ||
Derivative liability, measurement input | 2.92 | |
Measurement Input, Share Price [Member] | Other Warrants [Member] | ||
Derivative liability, measurement input | 2.92 | [1] |
Measurement Input, Expected Term [Member] | June 2023 Warrants Tranche A [Member] | ||
Derivative liability, measurement input | 3.9 | |
Measurement Input, Expected Term [Member] | Other Warrants [Member] | Minimum [Member] | ||
Derivative liability, measurement input | 2.6 | [1] |
Measurement Input, Expected Term [Member] | Other Warrants [Member] | Maximum [Member] | ||
Derivative liability, measurement input | 3.2 | [1] |
Measurement Input, Price Volatility [Member] | June 2023 Warrants Tranche A [Member] | ||
Derivative liability, measurement input | 0.803 | |
Measurement Input, Price Volatility [Member] | Other Warrants [Member] | Minimum [Member] | ||
Derivative liability, measurement input | 0.832 | [1] |
Measurement Input, Price Volatility [Member] | Other Warrants [Member] | Maximum [Member] | ||
Derivative liability, measurement input | 0.875 | [1] |
Measurement Input, Risk Free Interest Rate [Member] | June 2023 Warrants Tranche A [Member] | ||
Derivative liability, measurement input | 0.044 | |
Measurement Input, Risk Free Interest Rate [Member] | Other Warrants [Member] | Minimum [Member] | ||
Derivative liability, measurement input | 0.045 | [1] |
Measurement Input, Risk Free Interest Rate [Member] | Other Warrants [Member] | Maximum [Member] | ||
Derivative liability, measurement input | 0.046 | [1] |
Measurement Input, Expected Dividend Rate [Member] | June 2023 Warrants Tranche A [Member] | ||
Derivative liability, measurement input | 0 | |
Measurement Input, Expected Dividend Rate [Member] | Other Warrants [Member] | ||
Derivative liability, measurement input | 0 | [1] |
[1]Includes August 2022 Warrants, March 2022 Warrants and Avenue Capital Warrants. |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Income Tax Expense (Benefit) | $ 1,768 | $ 0 | |
Effective Income Tax Rate Reconciliation, Percent | (12.60%) | 0% | |
Deferred Tax Assets, Gross | $ 138,012 | $ 137,332 | |
Deferred Tax Liabilities, Gross | 762 | 1,378 | |
Accrued Income Taxes, Current | 300 | 100 | |
Operating Loss Carryforwards, Limitations on Use, Ownership Change, Post-change Net Operating Loss, Fully Available to Offset Current Fiscal Year Pre-Change Income Subject to Limitation | 12,000 | ||
Operating Loss Carryforwards, Limitations on Use, Ownership Change, Post-change Net Operating Loss, Disallowed Recognized Built-in Loss, Carried Forward as Operating Loss | 8,800 | 300 | |
Operating Loss Carryforwards | 519,600 | ||
Operating Loss Carryforwards, Not Subject to Expiration | 186,600 | ||
Operating Loss Carryforward, Subject To Expire | 333,000 | ||
Operating Loss Carryforward, Expirations, Ownership Change | 329,200 | ||
Deferred Tax Assets, Valuation Allowance | 137,250 | 135,954 | |
Unrecognized Tax Benefits | 1,313 | 2,948 | $ 2,822 |
Research Tax Credit Carryforward [Member] | |||
Tax Credit Carryforward, Amount | 3,000 | ||
Other Noncurrent Assets [Member] | |||
Deferred Tax Assets, Gross | 800 | 1,400 | |
Other Noncurrent Liabilities [Member] | |||
Deferred Tax Liabilities, Gross | $ 800 | $ 1,400 |
Note 13 - Income Taxes - Provis
Note 13 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Federal | $ 1,549 | $ 80 |
State | 219 | 46 |
Total current tax expense | 1,768 | 126 |
Federal | 0 | (109) |
State | 0 | (17) |
Total deferred tax expense | 0 | (126) |
Net income tax expense, amount | $ 1,768 | $ 0 |
Note 13 - Income Taxes - Effect
Note 13 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Tax at statutory rate, amount | $ (2,956) | $ (3,581) |
Tax at statutory rate | 21% | 21% |
State income taxes, net of federal benefit, amount | $ (779) | $ (430) |
State income taxes, net of federal benefit | 5.50% | 2.50% |
Stock-based compensation expense, amount | $ 19 | $ 0 |
Stock-based compensation expense | (0.10%) | 0% |
Contingent consideration, amount | $ 0 | $ (193) |
Contingent consideration | 0% | 1.20% |
Change in valuation allowance, amount | $ 5,447 | $ 4,087 |
Change in valuation allowance | (38.70%) | (24.00%) |
Other, amount | $ 37 | $ 117 |
Other | (0.30%) | (0.70%) |
Net income tax expense, amount | $ 1,768 | $ 0 |
Net income tax expense | (12.60%) | 0% |
Note 13 - Income Taxes - Schedu
Note 13 - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Jun. 30, 2023 |
Net operating loss carry forward | $ 119,170 | $ 113,819 |
Interest | 4,845 | 4,188 |
Accrued rebates | 3,819 | 6,994 |
Warrant derivatives | 3,061 | 1,504 |
Research and development credits | 2,416 | 2,416 |
Stock-based compensation expense | 1,259 | 4,250 |
Accrued expenses | 1,027 | 758 |
Section 174 capitalization | 780 | 836 |
Inventory | 256 | 743 |
Lease liability | 305 | 492 |
Fixed assets | 99 | 0 |
Other | 975 | 1,332 |
Total deferred tax assets | 138,012 | 137,332 |
Less: valuation allowance | (137,250) | (135,954) |
Deferred tax assets, net of valuation allowance | 762 | 1,378 |
Intangibles | (563) | (845) |
ROU asset | (199) | (483) |
Fixed assets | 0 | (50) |
Total deferred tax liabilities | (762) | (1,378) |
Net deferred tax liabilities | $ 0 | $ 0 |
Note 13 - Income Taxes - Sche_2
Note 13 - Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Balance | $ 2,948 | $ 2,822 |
Decrease resulting from current period tax positions | (1,996) | (120) |
Increase resulting from current period tax positions | 361 | 246 |
Balance | $ 1,313 | $ 2,948 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||||||||||
Jun. 14, 2024 | Jun. 08, 2023 | Aug. 11, 2022 | Mar. 07, 2022 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 28, 2021 | Jun. 04, 2021 | Jun. 17, 2020 | ||
Common Stock, Shares Authorized (in shares) | 200,000,000 | 200,000,000 | |||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | |||||||||
Preferred Stock, Shares Authorized (in shares) | 50,000,000 | 50,000,000 | |||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | |||||||||
Common Stock, Shares, Issued (in shares) | 5,972,638 | 5,517,174 | |||||||||
Preferred Stock, Shares Issued (in shares) | 0 | 0 | |||||||||
Common Stock, Shares, Outstanding (in shares) | 5,972,638 | 5,517,174 | |||||||||
Proceeds from Warrant Exercises | $ 3.5 | ||||||||||
Class of Warrant or Right, Issued During Period (in shares) | [1] | 1,806,434 | |||||||||
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 | |||||||||
March 2022 Prefunded Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 151,500 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.002 | ||||||||||
March 2022 Common Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 333,300 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 26 | ||||||||||
March 2022 Common and Prefunded Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1.1 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||
Payment of Financing and Stock Issuance Costs | $ 2.8 | ||||||||||
August 2022 Prefunded Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 87,500 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.02 | ||||||||||
August 2022 Common Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,265,547 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 8.6 | $ 2.32 | $ 3.3 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||
August 2022 Common and Prefunded Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||
Sale of Stock, Price Per Share (in dollars per share) | $ 8.58 | ||||||||||
Warrants and Rights Outstanding | $ 6 | ||||||||||
Pre-Funded Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 430,217 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | $ 0.02 | |||||||||
Tranche A Common Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,173,912 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.18 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||
Tranche B Common Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,173,912 | 1,806,434 | |||||||||
Proceeds from Warrant Exercises | $ 3.5 | ||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 367,478 | ||||||||||
Common Warrants [Member] | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.59 | ||||||||||
Common Warrants Exchanged for PreFunded Warrants [Member] | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.5899 | ||||||||||
Securities Purchase Agreement Warrants [Member] | |||||||||||
Warrants and Rights Outstanding | $ 5 | ||||||||||
Payments of Stock Issuance Costs | $ 0.6 | ||||||||||
Tranche B Pre-Funded Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,806,434 | 1,806,434 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | ||||||||||
Warrants and Rights Outstanding | $ 5.1 | ||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 1,806,434 | ||||||||||
The 2020 Shelf [Member] | |||||||||||
Sale of Stock, Maximum Amount of Equity Issuable | $ 100 | ||||||||||
At-the-market Offering [Member] | |||||||||||
Sale of Stock, Maximum Amount of Equity Issuable | $ 30 | ||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 699,929 | ||||||||||
Proceeds from Issuance of Common Stock | $ 2.9 | ||||||||||
The 2021 Shelf [Member] | |||||||||||
Sale of Stock, Maximum Amount of Equity Issuable | $ 82.4 | $ 100 | |||||||||
The 2024 Shelf [Member] | |||||||||||
Sale of Stock, Maximum Amount of Equity Issuable | $ 100 | ||||||||||
The March 2022 Offering [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 151,500 | ||||||||||
Proceeds from Issuance or Sale of Equity | $ 7.6 | ||||||||||
Payment of Financing and Stock Issuance Costs | $ 0.8 | ||||||||||
The August 2022 Offering [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,075,290 | ||||||||||
Proceeds from Issuance or Sale of Equity | $ 10 | ||||||||||
Payment of Financing and Stock Issuance Costs | $ 0.9 | ||||||||||
Sale of Stock, Price Per Share (in dollars per share) | $ 8.6 | ||||||||||
Securities Purchase Agreement [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,743,695 | ||||||||||
Proceeds from Issuance or Sale of Equity | $ 4 | ||||||||||
Payment of Financing and Stock Issuance Costs | $ 3.4 | ||||||||||
Restricted Stock [Member] | |||||||||||
Common Stock, Shares, Outstanding (in shares) | 25,360 | ||||||||||
[1]The warrants issued during fiscal 2024 were a result of 1,806,434 Tranche B Warrants being exercise to 1,806,434 Tranche B Pre-Funded Warrants. |
Note 15 - Equity Incentive Pl_3
Note 15 - Equity Incentive Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||||
May 18, 2023 | Dec. 19, 2022 | Jan. 17, 2022 | Apr. 19, 2021 | Jun. 01, 2015 | Jun. 30, 2024 | Jun. 30, 2023 | Feb. 13, 2020 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 146,539 | 52,762 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 113,500 | 49,212 | ||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 1.74 | $ 4 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 8 months 12 days | |||||||
Share-Based Payment Arrangement, Expense | $ 2,913 | $ 6,046 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | 0 | |||||||
Share-Based Payment Arrangement, Option [Member] | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 200 | $ 100 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | |||||||
Restricted Stock [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 24,105 | 38,075 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 12,500 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.77 | |||||||
Restricted Stock Units (RSUs) [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 1,775 | 4,963 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 0 | 0 | ||||||
The 2023 Equity Incentive Plan [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 200,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 87,129 | 182,322 | ||||||
The 2023 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||||
The 2023 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
The 2023 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||||||
The 2023 Equity Incentive Plan [Member] | Restricted Stock and Restricted Stock Units (RSUs) [Member] | Minimum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
The 2023 Equity Incentive Plan [Member] | Restricted Stock and Restricted Stock Units (RSUs) [Member] | Maximum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||||||
The 2023 Equity Incentive Plan [Member] | Restricted Stock [Member] | Management [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 12,500 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.77 | |||||||
The 2023 Equity Incentive Plan [Member] | Restricted Stock [Member] | Management [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.333% | |||||||
The 2023 Equity Incentive Plan [Member] | Restricted Stock [Member] | Management [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 8.333% | |||||||
The 2015 Plan [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 250,000 | |||||||
The 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||||
The 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
The 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 6 months | |||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 1,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 100 | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Management [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 6,825 | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Management [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.333% | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Management [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 8.333% | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Two Former Board Members [Member] | ||||||||
Share-Based Payment Arrangement, Expense | $ 1,500 | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Board Members [Member] | ||||||||
Share-Based Payment Arrangement, Expense | $ 600 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Percentage of Grants Rescinded | 25% | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Minimum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Minimum [Member] | Management [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.31 | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Maximum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 10 years | |||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Maximum [Member] | Management [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 13.4 | |||||||
The 2015 Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||||||
Neos 2015 Plan [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 5,272 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 3,486 | |||||||
Neos 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||||
Neos 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 1 year | |||||||
Neos 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||||||
Neos 2015 Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 1,786 | |||||||
Non-plan [Member] | Restricted Stock [Member] | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 7 months 6 days | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 4 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 200 | |||||||
Non-plan [Member] | Restricted Stock [Member] | Management [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 27 | |||||||
Non-plan [Member] | Restricted Stock [Member] | Management [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.333% | |||||||
Non-plan [Member] | Restricted Stock [Member] | Management [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 8.333% |
Note 15 - Equity Incentive Pl_4
Note 15 - Equity Incentive Plans - Stock Option Activity (Details) - $ / shares | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Outstanding, options (in shares) | 52,762 | |
Outstanding, options, weighted average exercise price (in dollars per share) | $ 18.37 | |
Outstanding, options, weighted average remaining contractual life (Year) | 8 years 9 months 18 days | 9 years 1 month 6 days |
Granted, options (in shares) | 113,500 | 49,212 |
Granted, options, weighted average exercise price (in dollars per share) | $ 1.74 | $ 4 |
Granted, options, weighted average remaining contractual life (Year) | 9 years 2 months 12 days | |
Forfeited/Cancelled, options (in shares) | (16,610) | |
Forfeited/Cancelled, options, weighted average exercise price (in dollars per share) | $ 3.2 | |
Expired, options (in shares) | (3,113) | |
Expired, options, weighted average exercise price (in dollars per share) | $ 66.84 | |
Outstanding, options (in shares) | 146,539 | 52,762 |
Outstanding, options, weighted average exercise price (in dollars per share) | $ 6.18 | $ 18.37 |
Exercisable, options (in shares) | 25,068 | |
Exercisable, options, weighted average exercise price (in dollars per share) | $ 26.06 | |
Exercisable, options, weighted average remaining contractual life (Year) | 8 years |
Note 15 - Equity Incentive Pl_5
Note 15 - Equity Incentive Plans - Stock Options Outstanding (Details) | 12 Months Ended |
Jun. 30, 2024 $ / shares shares | |
Range of exercise prices (in dollars per share) | $ 6.18 |
Number of options outstanding (in shares) | shares | 146,539 |
Weighted average remaining contractual life of options outstanding (Year) | 8 years 9 months 18 days |
Number of options exercisable (in shares) | shares | 25,068 |
Weighted average exercise price (in dollars per share) | $ 225.74 |
Exercise Price Range One [Member] | |
Range of exercise prices (in dollars per share) | $ 1.73 |
Number of options outstanding (in shares) | shares | 102,000 |
Weighted average remaining contractual life of options outstanding (Year) | 9 years 1 month 6 days |
Exercise Price Range Two [Member] | |
Range of exercise prices (in dollars per share) | $ 2.53 |
Number of options outstanding (in shares) | shares | 1,500 |
Weighted average remaining contractual life of options outstanding (Year) | 9 years 7 months 6 days |
Exercise Price Range Three [Member] | |
Range of exercise prices (in dollars per share) | $ 16.85 |
Number of options outstanding (in shares) | shares | 43,039 |
Weighted average remaining contractual life of options outstanding (Year) | 8 years 1 month 6 days |
Number of options exercisable (in shares) | shares | 25,068 |
Weighted average exercise price (in dollars per share) | $ 225.74 |
Exercise Price Range Three [Member] | Minimum [Member] | |
Range of exercise prices (in dollars per share) | 4 |
Exercise Price Range Three [Member] | Maximum [Member] | |
Range of exercise prices (in dollars per share) | $ 290 |
Note 15 - Equity Incentive Pl_6
Note 15 - Equity Incentive Plans - Restricted Stock Activity (Details) - Restricted Stock [Member] | 12 Months Ended |
Jun. 30, 2024 $ / shares shares | |
Unvested, shares (in shares) | shares | 38,075 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 142.2 |
Granted, shares (in shares) | shares | 12,500 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.77 |
Vested, shares (in shares) | shares | (25,971) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 113.37 |
Forfeited/cancelled, shares (in shares) | shares | (499) |
Forfeited/cancelled, weighted average grant date fair value (in dollars per share) | $ / shares | $ 147.15 |
Unvested, shares (in shares) | shares | 24,105 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 100.34 |
Note 15 - Equity Incentive Pl_7
Note 15 - Equity Incentive Plans - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] | 12 Months Ended |
Jun. 30, 2024 $ / shares shares | |
Unvested, shares (in shares) | shares | 4,963 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 25.62 |
Vested, shares (in shares) | shares | (2,249) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 24.28 |
Forfeited/cancelled, shares (in shares) | shares | (939) |
Forfeited/cancelled, weighted average grant date fair value (in dollars per share) | $ / shares | $ 31.6 |
Unvested, shares (in shares) | shares | 1,775 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 24.14 |
Note 15 - Equity Incentive Pl_8
Note 15 - Equity Incentive Plans - Stock Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Total stock-based compensation expense | $ 2,913 | $ 6,046 |
Cost of Sales [Member] | ||
Total stock-based compensation expense | 2 | 28 |
Research and Development Expense [Member] | ||
Total stock-based compensation expense | 6 | 30 |
Selling and Marketing Expense [Member] | ||
Total stock-based compensation expense | 0 | 23 |
General and Administrative Expense [Member] | ||
Total stock-based compensation expense | $ 2,905 | $ 5,965 |
Note 16 - Warrants (Details Tex
Note 16 - Warrants (Details Textual) $ / shares in Units, $ in Millions | 12 Months Ended | |||||||||||
Jun. 14, 2024 USD ($) $ / shares shares | Jun. 08, 2023 USD ($) $ / shares shares | Jan. 06, 2023 | Mar. 07, 2022 USD ($) $ / shares shares | Jun. 30, 2024 USD ($) shares | Jun. 30, 2023 $ / shares shares | Dec. 31, 2022 $ / shares | Oct. 25, 2022 $ / shares | Aug. 11, 2022 $ / shares shares | Jan. 26, 2022 USD ($) $ / shares | |||
Proceeds from Warrant Exercises | $ | $ 3.5 | |||||||||||
Class of Warrant or Right, Outstanding (in shares) | 6,075,880 | [1] | 6,538,052 | [2] | ||||||||
Reverse Stock Split [Member] | ||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 | |||||||||||
Pre-Funded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 430,217 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.0001 | $ 0.02 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||
Tranche A Common Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,173,912 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 3.18 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||
Tranche B Common Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,173,912 | 1,806,434 | ||||||||||
Proceeds from Warrant Exercises | $ | $ 3.5 | |||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 367,478 | |||||||||||
Common Warrants [Member] | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.59 | |||||||||||
Common Warrants Exchanged for PreFunded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.5899 | |||||||||||
Tranche B Pre-Funded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,806,434 | 1,806,434 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.0001 | |||||||||||
Warrants and Rights Outstanding | $ | $ 5.1 | |||||||||||
August 2022 Prefunded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 87,500 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.02 | |||||||||||
August 2022 Common Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,265,547 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.32 | $ 3.3 | $ 8.6 | |||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||
August 2022 Common Warrants [Member] | Minimum [Member] | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.32 | |||||||||||
August 2022 Common Warrants [Member] | Maximum [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,325,581 | |||||||||||
March 2022 Prefunded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 151,500 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.002 | |||||||||||
March 2022 Common Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 333,300 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 26 | |||||||||||
March 2022 Common and Prefunded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1.1 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||
Payment of Financing and Stock Issuance Costs | $ | $ 2.8 | |||||||||||
Avenue Capital Warrants [Member] | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 24.2 | $ 8.6 | $ 24.2 | |||||||||
Warrants and Rights Outstanding | $ | $ 0.6 | |||||||||||
Liability Warrants [Member] | ||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 3,821,115 | 6,068,763 | ||||||||||
Liability Pre-Funded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 430,217 | 430,217 | ||||||||||
Equity Warrants [Member] | ||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 18,114 | 39,072 | ||||||||||
Liability Tranche B Prefunded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 1,806,434 | |||||||||||
Securities Purchase Agreement [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,743,695 | |||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 4 | |||||||||||
Payment of Financing and Stock Issuance Costs | $ | 3.4 | |||||||||||
Securities Purchase Agreement Warrants [Member] | ||||||||||||
Warrants and Rights Outstanding | $ | 5 | |||||||||||
Payments of Stock Issuance Costs | $ | $ 0.6 | |||||||||||
The March 2022 Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 151,500 | |||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 7.6 | |||||||||||
Payment of Financing and Stock Issuance Costs | $ | $ 0.8 | |||||||||||
[1]The number of warrants outstanding as of June 30, 2024, is comprised of 3,821,115 liability classified warrants, 430,217 liability classified June 2023 Pre-Funded Warrants, 1,806,434 liability classified Tranche B Pre-Funded Warrants and 18,114 equity classified warrants.[2]The number of warrants outstanding as of June 30, 2023, is comprised of 6,068,763 liability classified warrants, 430,217 liability classified June 2023 Pre-Funded Warrants and 39,072 equity classified warrants. |
Note 16 - Warrants - Schedule o
Note 16 - Warrants - Schedule of Warrants Outstanding (Details) - $ / shares | 12 Months Ended | ||||
Jun. 30, 2024 | Jun. 30, 2023 | [1] | |||
Outstanding, balance (in shares) | [1] | 6,538,052 | |||
Outstanding, weighted average remaining contractual term (Year) | [2] | 3 years 1 month 6 days | [3] | 4 years 8 months 12 days | |
Warrants issued (2) (in shares) | [4] | 1,806,434 | |||
Warrants exercised (in shares) | (2,247,648) | ||||
Warrants expired (in shares) | (20,958) | ||||
Outstanding, balance (in shares) | 6,075,880 | [3] | 6,538,052 | ||
Weighted Average [Member] | |||||
Outstanding, weighted average exercise price (in dollars per share) | [1] | $ 4.42 | |||
Warrants issued, weighted average exercise price (in dollars per share) | [4] | 0.0001 | |||
Warrants exercised, weighted average exercise price (in dollars per share) | 1.61 | ||||
Warrants expired, weighted average exercise price (in dollars per share) | 300 | ||||
Outstanding, weighted average exercise price (in dollars per share) | $ 3.71 | [3] | $ 4.42 | ||
[1]The number of warrants outstanding as of June 30, 2023, is comprised of 6,068,763 liability classified warrants, 430,217 liability classified June 2023 Pre-Funded Warrants and 39,072 equity classified warrants.[2]As pre-funded warrants do not have an expiration date, they have been excluded from the calculation of the weighted average remaining contractual life in years.[3]The number of warrants outstanding as of June 30, 2024, is comprised of 3,821,115 liability classified warrants, 430,217 liability classified June 2023 Pre-Funded Warrants, 1,806,434 liability classified Tranche B Pre-Funded Warrants and 18,114 equity classified warrants.[4]The warrants issued during fiscal 2024 were a result of 1,806,434 Tranche B Warrants being exercise to 1,806,434 Tranche B Pre-Funded Warrants. |
Note 17 - Restructuring Costs_2
Note 17 - Restructuring Costs (Details Textual) - Grand Prairie, Texas Manufacturing Site [Member] $ in Millions | 12 Months Ended |
Jun. 30, 2024 USD ($) | |
Severance Costs | $ 0.9 |
Business Exit Costs | $ 0.4 |
Note 17 - Restructuring Costs -
Note 17 - Restructuring Costs - Summary of Restructuring Costs (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 USD ($) | ||
Restructuring costs | $ 3,095 | |
Employee Severance [Member] | ||
Restructuring costs | 1,145 | [1] |
Exit and Disposal Activities [Member] | ||
Restructuring costs | 1,220 | [1] |
Inventory Write Downs [Member] | ||
Restructuring costs | 730 | [2] |
Consumer Health Segment [Member] | Consumer Health Segment [Member] | ||
Restructuring costs | 939 | [3] |
Consumer Health Segment [Member] | Employee Severance [Member] | ||
Restructuring costs | 20 | [1],[3] |
Consumer Health Segment [Member] | Exit and Disposal Activities [Member] | ||
Restructuring costs | 189 | [1],[3] |
Consumer Health Segment [Member] | Inventory Write Downs [Member] | ||
Restructuring costs | 730 | [2],[3] |
Grand Prairie, Texas Manufacturing Site [Member] | ||
Restructuring costs | 2,156 | [4] |
Grand Prairie, Texas Manufacturing Site [Member] | Employee Severance [Member] | ||
Restructuring costs | 1,125 | [1],[4] |
Grand Prairie, Texas Manufacturing Site [Member] | Exit and Disposal Activities [Member] | ||
Restructuring costs | 1,031 | [1],[4] |
Grand Prairie, Texas Manufacturing Site [Member] | Inventory Write Downs [Member] | ||
Restructuring costs | $ 0 | [2],[4] |
[1]Expense associated with severance and employee benefits and exit and disposal activities are included in restructuring costs in the consolidated statements of operations.[2]Expense associated with inventory write-downs is recorded in cost of sales in the consolidated statements of operations.[3]Expense associated with the wind down of the Consumer Health Segment is related to the Consumer Health Segment.[4]Expense associated with the closure of the Grand Prairie, Texas manufacturing site is related to the Rx Segment. |
Note 18 - Commitments and Con_2
Note 18 - Commitments and Contingencies (Details Textual) | 12 Months Ended | ||||||||
Jun. 21, 2021 USD ($) | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | May 31, 2023 USD ($) | Feb. 22, 2023 shares | May 29, 2020 USD ($) | Jan. 31, 2020 USD ($) | Nov. 01, 2019 USD ($) | Feb. 28, 2015 | |
Fixed Payment Arrangements | $ 8,337,000 | $ 10,420,000 | |||||||
Sabby Volatility Warrant Master Fund Ltd. [Member] | Sabby Litigation [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 312,908 | ||||||||
Sabby Volatility Warrant Master Fund Ltd. [Member] | Sabby Litigation [Member] | Sabby Litigation Warrants [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 575,000 | ||||||||
Walleye Opportunities Master Fund Ltd. [Member] | Sabby Litigation [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 54,146 | ||||||||
Walleye Opportunities Master Fund Ltd. [Member] | Sabby Litigation [Member] | Sabby Litigation Warrants [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 100,000 | ||||||||
Office Space in Berwyn, Pennsylvania [Member] | |||||||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | ||||||||
Operating Lease, Undiscounted Minimum Monthly Payment | $ 13,000 | ||||||||
Principal Office Denver Colorado [Member] | |||||||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | ||||||||
Operating Lease, Undiscounted Minimum Monthly Payment | $ 15,500 | ||||||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years 6 months | 5 years | |||||||
Tris Karbinal Agreement [Member] | |||||||||
Supply and Distribution Commitment, Period (Year) | 20 years | ||||||||
Supply and Distribution Commitment, Royalty, Percentage of Net Sales | 23.50% | ||||||||
Supply and Distribution Agreement, Minimum Sales Per Year | 70,000 | ||||||||
Supply and Distribution Agreement, Royalty Make Whole Payment Under Annual Minimum Sales Commitment, Per Unit | $ 30 | ||||||||
Supply and Distribution Agreement, Maximum Milestone Obligations | 3,000,000 | ||||||||
Supply and Distribution Agreement, First Milestone, Minimum Net Revenues | 40,000,000 | ||||||||
Tris Karbinal Agreement [Member] | Other Current Liabilities [Member] | |||||||||
Fixed Payment Arrangements | 1,900,000 | ||||||||
Tris Karbinal Agreement [Member] | Other Noncurrent Liabilities [Member] | |||||||||
Fixed Payment Arrangements | 200,000 | ||||||||
Tris Karbinal Agreement [Member] | Maximum [Member] | |||||||||
Supply and Distribution Agreement, Royalty Make Whole Payment Under Annual Minimum Sales Commitment, Per Unit | 2,100 | ||||||||
Fixed Payment Arrangement Assumed from Cerecor Inc. [Member] | |||||||||
Fixed Payment Arrangements, Periodic Payment Obligations, Number | 2 | ||||||||
Fixed Payment Arrangements, Monthly Payment Amount | $ 100,000 | ||||||||
Fixed Payment Arrangements, Balloon Payment Amount | $ 15,000,000 | $ 15,000,000 | |||||||
Fixed Payment Arrangements, Payment Amount, Paid | $ 2,800,000 | ||||||||
Fixed Payment Arrangements | 3,000,000 | ||||||||
Fixed Payment Arrangement, Quarterly Payments | $ 500,000 | ||||||||
Fixed Payment Arrangement Assumed from Cerecor Inc. [Member] | The Pediatric Portfolio [Member] | |||||||||
Fixed Payment Arrangements, Balloon Payment Amount | $ 100,000 | $ 200,000 |
Note 19 - License Agreements (D
Note 19 - License Agreements (Details Textual) - USD ($) $ in Millions | 1 Months Ended | |
Apr. 30, 2020 | Feb. 29, 2016 | |
Healight [Member] | ||
License Agreement, Initial License Fee Paid | $ 0.3 | |
License Agreement, Patent Prosecution Fees Paid | $ 0.1 | |
The 2014 License Agreement, Shire [Member] | ||
License Agreement, Up-front, Non-refundable License Fee Paid, Maximum | $ 1 |
Note 20 - Segment Information_2
Note 20 - Segment Information (Details Textual) | 10 Months Ended | 12 Months Ended |
Apr. 29, 2024 | Jun. 30, 2024 | |
Number of Reportable Segments | 2 | 2 |
Note 20 - Segment Information -
Note 20 - Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Net revenue | $ 81,002 | $ 107,399 |
Income (loss) from operations | (5,254) | (17,065) |
Depreciation and amortization | 7,456 | 7,387 |
Stock-based compensation expense | 2,913 | 6,046 |
Restructuring costs | 2,365 | 0 |
Impairment and write-off expense | 5,705 | |
Rx Segment [Member] | ||
Net revenue | 65,183 | 73,799 |
Income (loss) from operations | (1,590) | (7,358) |
Depreciation and amortization | 5,909 | 6,271 |
Stock-based compensation expense | 2,373 | 5,722 |
Restructuring costs | 2,156 | |
Impairment and write-off expense | 2,730 | |
Consumer Health [Member] | ||
Net revenue | 15,819 | 33,600 |
Income (loss) from operations | (3,664) | (9,707) |
Depreciation and amortization | 1,547 | 1,116 |
Stock-based compensation expense | 540 | 324 |
Restructuring costs | $ 209 | |
Impairment and write-off expense | $ 2,975 |
Note 21 - Subsequent Events (De
Note 21 - Subsequent Events (Details Textual) $ in Millions | 1 Months Ended |
Jul. 31, 2024 USD ($) | |
Subsequent Event [Member] | |
Revenue-based Royalty Costs | $ 0.5 |