Aytu BioPharma (AYTU) 10-K 28 Sep 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Sep. 10, 2021	Dec. 31, 2020
Cover [Abstract]
Entity Registrant Name	AYTU BIOPHARMA, INC.
Entity Central Index Key	0001385818
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Address, Postal Zip Code	80112
Entity Tax Identification Number	47-0883144
Entity Address, Address Line One	373 Inverness ParkwaySuite 206
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	AYTU
Security Exchange Name	NASDAQ
City Area Code	720
Local Phone Number	437-6580
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity File Number	001-38247
Entity Public Float			$ 88.4
Entity Common Stock, Shares Outstanding		27,555,120

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Current assets
Cash and cash equivalents	$ 49,649	$ 48,082
Restricted cash	252	251
Accounts receivable, net	28,176	5,633
Inventory, net	16,339	9,999
Prepaid expenses	9,780	5,715
Other current assets	1,038	5,742
Total current assets	105,234	75,422
Property and equipment, net	5,140	259
Operating lease right-of-use asset	3,563	634
Intangible assets, net	85,464	48,855
Goodwill	65,802	28,090
Other long-term assets	465	33
Total long-term assets	160,434	77,871
Total assets	265,668	153,293
Current liabilities
Accounts payable and other	19,255	11,640
Accrued liabilities	51,295	8,831
Accrued compensation	5,939	3,117
Short-term line of credit	7,934	0
Current portion of debt	16,668	982
Current portion of operating lease liabilities	940	300
Current portion of fixed payment arrangements	3,134	2,340
Current portion of CVR liabilities	218	840
Current portion of contingent consideration	4,055	713
Total current liabilities	109,438	28,763
Long-term debt, net of current portion	180	0
Long-term operating lease liability, net of current portion	2,624	725
Long-term fixed payment arrangements, net of current portion	6,324	11,172
Long-term CVR liabilities, net of current portion	1,177	4,732
Long-term contingent consideration, net of current portion	8,002	12,875
Other long-term liabilities	355	11
Total liabilities	128,100	58,278
Commitments and contingencies
Stockholders' equity
Preferred Stock, par value $.0001; 50,000,000 shares authorized; no shares issued or outstanding as of June 30, 2021 and 2020	0	0
Common Stock, par value $.0001; 200,000,000 shares authorized; shares issued and outstanding 27,490,412 and 12,583,737, respectively, as of June 30, 2021 and 2020	3	1
Additional paid-in capital	315,864	215,024
Accumulated deficit	(178,299)	(120,010)
Total stockholders' equity	137,568	95,015
Total liabilities and stockholders' equity	$ 265,668	$ 153,293

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 08, 2020	Jun. 30, 2020
Condensed Consolidated Balance Sheets
Preferred stock, par value	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	50,000,000		50,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value	$ 0.0001		$ 0.0001
Common stock, shares authorized	200,000,000		200,000,000
Common stock, shares issued	27,490,412		12,583,736
Common stock, shares outstanding	27,490,412		12,583,736

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenues
Product revenue, net	$ 65,632	$ 27,632
Cost of sales	36,432	8,281
Gross profit	29,200	19,351
Operating expenses
Research and development	5,623	1,722
Selling and marketing	30,308	11,403
General and administrative	25,500	19,657
Acquisition related costs	2,919	2,348
Restructuring costs	4,886	667
Impairment of intangible assets	12,825	195
Amortization of intangible assets	6,009	4,490
Total operating expenses	88,070	40,482
Loss from operations	(58,870)	(21,131)
Other (expense) income
Other (expense), net	(2,050)	(2,606)
Gain / (Loss) from contingent consideration	4,459	10,430
Gain (Loss) on extinguishment of debt	(1,569)	(316)
Gain from warrant derivative liability	0	2
Total other (expense) income	840	7,510
Loss before income tax	(58,030)	(13,621)
Income tax expense	259	0
Net loss	$ (58,289)	$ (13,621)
Weighted average number of common shares outstanding	16,746,679	4,519,201
Basic and diluted net loss per common share	$ (3.48)	$ (3.01)

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	WarrantsCommon Stock	WarrantsAdditional Paid-in Capital	Preferred StockPrivate placement	Preferred Stock	Common StockShelf Registration 2020	Common StockMarch 2020 Offerings	Common StockDecember 2020 Offerings	Common Stock	Additional Paid-in CapitalPrivate placement	Additional Paid-in CapitalShelf Registration 2020	Additional Paid-in CapitalMarch 2020 Offerings	Additional Paid-in CapitalDecember 2020 Offerings	Additional Paid-in Capital	Accumulated Deficit	Total
Beginning balance, amount at Jun. 30, 2019													$ 113,477	$ (106,389)
Beginning balance, shares at Jun. 30, 2019				3,594,981				1,753,808
Net loss														(13,621)	$ (13,621)
Stock-based compensation, shares								195,291
Stock-based compensation													1,079
Issuance of stock for business acquisition, net of issuance costs				$ 1									9,965
Issuance of stock for business acquisition, net of issuance costs (in shares)				11,803,747				380,971
Warrants issued from March 2020 offerings											$ 11,182
Issuance of preferred, common stock and warrants, net of cash issuance costs, amount						$ 1			$ 5,250	$ 4,983	$ 33,278
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares			10,000		430,227	3,636,527
Preferred converted into common stock, amount				$ (1)									94
Preferred converted into common stock, shares				(15,408,728)				2,539,873
Issuance of preferred, common stock related to debt conversion, amount		$ 26,990											2,579
Issuance of preferred, common stock related to debt conversion, shares	3,310,276							184,205
Warrants issued									$ 4,009						0
Issuance of common stock to consultants													231
Issuance of common stock to consultants (in shares)								16,500
Issuance of common stock related to settlement													174
Issuance of common stock related to settlement, shares								12,238
Issuance of common stock for CVRs payout													1,733
Issuance of common stock for CVRs payout (in shares)								123,820
Ending balance, amount at Jun. 30, 2020								$ 1					215,024	(120,010)	$ 95,015
Ending balance, shares at Jun. 30, 2020								12,583,736							12,583,736
Net loss														(58,289)	$ (58,289)
Stock-based compensation, shares								1,722,125
Stock-based compensation													3,574
Issuance of stock for business acquisition, net of issuance costs								$ 1					53,102
Issuance of stock for business acquisition, net of issuance costs (in shares)								5,471,804
Issuance of preferred, common stock and warrants, net of cash issuance costs, amount					$ 1					$ 15,569		$ 26,110
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares					2,663,312		4,816,164
Issuance of preferred, common stock related to debt conversion, amount													1,058
Issuance of preferred, common stock related to debt conversion, shares								130,081
Warrants issued															1,628
Tax withholding for stock-based compensation													(5)
Estimated fair value of replacement equity awards													432
Issuance of common stock for CVRs payout													1,000
Issuance of common stock for CVRs payout (in shares)								103,190
Ending balance, amount at Jun. 30, 2021								$ 3					$ 315,864	$ (178,299)	$ 137,568
Ending balance, shares at Jun. 30, 2021								27,490,412							27,490,412

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Private placement
Issuance costs		$ 742
March 2020 Offerings
Issuance costs		4,524
Shelf Registration 2020
Issuance costs	$ 731	$ 1,860
December 2020 Offerings
Issuance costs	$ 2,640

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Operating Activities
Net loss	$ (58,289)	$ (13,621)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation, amortization and accretion	9,201	5,714
Impairment of intangible assets	12,825	195
Stock-based compensation expense	3,574	1,079
Loss (gain) from contingent considerations	(4,459)	(10,430)
Inventory write-down	7,332	1,265
Changes in allowance for bad debt	608	405
Loss on debt extinguishment	1,569	316
Amortization of senior debt discount (premium)	(44)	532
Other noncash adjustments	38	46
Changes in operating assets and liabilities:
Accounts receivable	1,544	(3,561)
Inventory	2,786	(8,216)
Prepaid expenses and other current assets	157	(6,066)
Accounts payable and other	(3,245)	(1,377)
Accrued liabilities	771	5,345
Other operating assets and liabilities, net	(332)	0
Net cash used in operating activities	(25,964)	(28,374)
Investing Activities
Contingent consideration payment	(683)	(203)
Cash received from acquisition	15,722	391
Cash payment for business acquisition	(15,520)	(5,850)
Cash payment for asset acquisition	(2,341)	0
Other investing activities	40	6
Net cash used in investing activities	(2,782)	(5,656)
Financing Activities
Proceeds from issuance of stock	45,051	65,730
Payment of stock issuance costs	(4,903)	(5,404)
Warrant exercises	0	26,992
Payment made to fix payment arrangement	(6,088)	0
Payments made to borrowings	(54,947)	(19,437)
Proceeds from borrowings	51,206	3,188
Other financing activities	(5)	0
Net cash provided by financing activities	30,314	71,069
Net change in cash, restricted cash and cash equivalents	1,568	37,039
Cash, cash equivalents and restricted cash at beginning of period	48,333	11,294
Cash, cash equivalents and restricted cash at end of period	49,901	48,333
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents	49,649	48,082
Restricted cash	252	251
Total cash, cash equivalents and restricted cash	49,901	48,333
Supplemental cash flow data
Cash paid for interest	1,249	1,040
Non-cash investing and financing activities:
Contingent value rights payout	1,000	2,000
Issuance of common stock for note conversion	1,058	2,579
Estimated fair value of replacement equity awards	432	0
Fair value of liabilities assumed	88,700	0
Fair value of non-cash assets acquired	104,322	0
Issuance cost related to S-3	0	1,531
Issuance of stock for business acquisition	53,104	18,365
Other noncash investing and financing activities	0	1,607
Warrants issued	$ 1,628	$ 0

Nature of Business and Financia

Nature of Business and Financial Condition	12 Months Ended
	Jun. 30, 2021
Nature of Business and Financial Condition
Nature of Business and Financial Condition	1. Nature of Business and Financial Condition Aytu BioPharma, Inc. (“Aytu”, the “Company” or “we”), is a commercial-stage specialty pharmaceutical company focused on commercializing novel therapeutics and consumer healthcare products. The Company currently operates the Aytu BioPharma business, consisting of the prescription pharmaceutical products (the “Rx Portfolio”), and Aytu consumer healthcare products business (the “Consumer Health Portfolio”). The Rx Portfolio is focused on commercializing prescription pharmaceutical products for the treatment of attention deficit hyperactivity disorder ("ADHD"), allergies, insomnia and various pediatric conditions. The Aytu consumer health business is focused on commercializing consumer healthcare products. The Company was incorporated as Rosewind Corporation on August 9, 2002 in the State of Colorado and was re-incorporated in the state of Delaware on June 8, 2015. The Rx Portfolio consists of (i) Adzenys XR-ODT (amphetamine) extended-release orally disintegrating tablets, Cotempla XR-ODT (methylphenidate) extended-release orally disintegrating tablets and Adzenys ER (amphetamine) extended-release oral suspension for the treatment of ADHD (ii) Poly-Vi-Flor and Tri-Vi-Flor, two complementary prescription fluoride-based supplement product lines containing combinations of fluoride and vitamins in various formulations for infants and children with fluoride deficiency, (iii) Karbinal ER, an extended-release carbinoxamine (antihistamine) suspension indicated to treat numerous allergic conditions, (iv) ZolpiMist, the only FDA-approved oral spray prescription sleep aid, (v) Tuzistra XR, the only FDA-approved 12-hour codeine-based antitussive syrup and (vi) a generic Tussionex (hydrocodone and chlorpheniramine) (“generic Tussionex”), extended-release oral suspension for the treatment of cough and upper respiratory symptoms of a cold. The Consumer Health Portfolio consists of over thirty consumer health products competing in large healthcare categories, including diabetes management (with a concentration on neuropathy), pain management, digestive health, sexual and urological health and general wellness for men and women, commercialized through direct-to-consumer marketing channels utilizing the Company's proprietary Beyond Human marketing and sales platform and on e-commerce platforms. On April 12, 2021, the Company entered into an asset purchase agreement with Rumpus VEDS, LLC, Rumpus Therapeutics, LLC, Rumpus Vascular, Christopher Brooke and Nathaniel Massari pursuant to which the Company acquired certain rights and other assets, including key commercial global licenses, relating primarily to the pediatric-onset rare disease development asset enzastaurin (now referred to as AR101), which is a pivotal study-ready therapeutic being studied for the treatment of vascular Ehlers-Danlos Syndrome (“vEDS”). This asset was acquired for an up-front fee of $1.5 million in cash and payment of aggregated fees of $0.6 million. Upon the achievement of certain regulatory and commercial milestones, up to $67.5 million in earn-out payments, which are payable in cash or shares of the Company’s common stock, generally at the Company’s option. AR101 (enzastaurin) is an orally available investigational first-in-class small molecule, serine/threonine kinase inhibitor of the PKC beta, PI3K and AKT pathways. On March 31, 2021, the Company and Acerus Pharmaceuticals Corporation (“Acerus”) entered into a termination and transition agreement (the “Termination Agreement”) to terminate the License and Supply Agreement previously entered into on July 29, 2019 related to Natesto®. Pursuant to the Termination Agreement, the Company ceased all sales, marketing and promotion of Natesto, and Acerus agreed to pay the Company an aggregate amount of $7.5 million, payable in equal monthly installment payments of $250,000 for a period of 30 On March 19, 2021, the Company acquired Neos Therapeutics, Inc. (“Neos”), a commercial-stage pharmaceutical company developing and manufacturing central nervous system-focused products (the “Neos Merger”). Neos commercializes Adzenys XR-ODT, Cotempla XR-ODT and Adzenys-ER in the United States using Neos’ internal commercial organization. These commercial products are extended-release (“XR”) medications in patient-friendly, orally disintegrating tablet (“ODT”) or oral suspension dosage forms that utilize Neos' microparticle modified-release drug delivery technology platform. Neos received approval from the U.S. Food and Drug Administration (“FDA”) for these three products. In addition, Neos manufactures and sells a generic Tussionex. On December 8, 2020, the Company effected a reverse stock split in which each common stockholder received one share of common stock for every 10 shares held (herein referred to collectively as the “Reverse Stock Split”). All share and per share amounts in this report have been adjusted to reflect the effect of the Reverse Stock Split. The Company incurred $4.9 million and $0.7 million merger and acquisitions related restructuring costs during the years ended June 30, 2021 and 2020, respectively, all of which was paid during the year ended June 30, 2021. These costs are primarily related to severance payments to employees affected by the change in business structure. The Company’s strategy is to continue building its portfolio of revenue-generating products, leveraging its commercial team’s expertise to build leading brands within large therapeutic markets, while also developing a de-risked, late-stage pipeline focused on pediatric-onset conditions and difficult-to-treat diseases. As of June 30, 2021, the Company had approximately $49.9 million of cash, cash equivalents and restricted cash. The Company’s operations have historically consumed cash and are expected to continue to consume cash. The Company incurred a net loss of approximately $58.3 million and $13.6 million during the years ended June 30, 2021 and 2020, respectively. The Company had an accumulated deficit of approximately $178.3 million and $120.0 million as of June 30, 2021 and 2020, respectively. Cash used in operations was approximately $26.0 million and $28.4 million during the years ended June 30, 2021 and 2020, respectively. Management plans to focus on raising additional capital in order to meet its obligations and execute its business plan or otherwise reduce its expenses or renegotiate its debt facilities. Management believes that the Company has access to capital resources through possible public or private equity offerings, debt financings, or other means; however, the Company cannot provide any assurance that it will be able to raise additional capital or obtain new financing on commercially acceptable terms. If the Company is unable to secure additional capital, it may be required to curtail its operations or delay the execution of its business plan. As of the date of this Report, the Company expects its costs for operations to increase as the Company integrates the Neos acquisition, invests in new product development, continues to focus on revenue growth through increasing product sales and additional acquisitions. The Company’s current assets totaling approximately $105.2 million as of June 30, 2021 and the proceeds expected from ongoing product sales will be used to fund existing operations. The Company may continue to access the capital markets from time-to-time when market conditions are favorable. The timing and amount of capital that may be raised is dependent on the terms and conditions upon which investors would require to provide such capital. There is no guarantee that capital will be available on terms favorable to the Company and its stockholders, or at all. Upon closing of the Neos merger, on March 19, 2021, the Company paid down $15.4 million of Neos' senior secured long-term debt, including accrued interest and $5.5 million of merger costs incurred by Neos. Since the Company has sufficient cash on-hand as of June 30, 2021 to cover potential net cash outflows for the twelve months following the filing date of this Annual Report, the Company reports that there exists no substantial doubt about its ability to continue as a going concern. If the Company is unable to raise adequate capital in the future when it is required, the Company's management can adjust its operating plans to reduce the magnitude of the Company's capital need under its existing operating plan. Some of the adjustments that could be made include delays of and reductions to commercial programs, reductions in headcount, narrowing the scope of the Company’s commercial plans or reductions or delays to its research and development programs. Without sufficient operating capital, the Company could be required to relinquish rights to products or renegotiate to maintain such rights on less favorable terms than it would otherwise choose. This may lead to impairment or other charges, which could materially affect the Company’s balance sheet and operating results.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principals of Consolidation. Basis of Presentation. Use of estimate. Prior Period Reclassification. Cash, Cash Equivalents and Restricted Cash. Accounts Receivable. The Company writes off uncollectible receivables when the likelihood of collection is remote. The Company evaluates the collectability of accounts receivable on a quarterly basis. An allowance, when needed, is based upon various factors, including: the financial condition and payment history of customers; an overall review of collections experience on other accounts; and, economic factors or events expected to affect future collections experience. Allowance for doubtful accounts was $1.0 million and $0.4 million as of June 30, 2021 and 2020, respectively. Inventories. The Company periodically reviews the composition of its inventories in order to identify obsolete, slow-moving, excess or otherwise unsaleable items. Unsaleable items will be written- down to net realizable value in the period identified. The reserve for slow moving inventories was $2.5 million and $1.3 million as of June 30, 2021 and 2020, respectively. Going Concern Determination. conditions and events that are known and reasonably knowable within one year after the date that the financial statements are issued. Recurring operating losses or year over year negative cash flows from operating activities are considered negative trends. Property and equipment. ​ ​ ​ ​ ​ ​ Estimated ​ Useful Lives ​ ​ in years Manufacturing equipment ​ 2 - 7 Leasehold improvements 3 Office equipment, furniture and other 2 - 7 Lab equipment 3 - 7 ​ Leases. Fixed lease payments are recognized over the expected term of the lease using the effective interest method. Variable lease expenses that are not considered fixed, or in substance fixed, are expensed as incurred. Fixed and variable lease expense on operating leases are recognized within cost of goods sold 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 goods sold and interest expense, respectively, in the Company’s consolidated statements of operations. The Company has elected the short-term lease exemption and recognizes a short-term lease expense over lease terms of 12 months or less. Operating leases are included in operating lease ROU assets, current portion of operating lease liabilities and operating lease liabilities in the Company’s consolidated balance sheets. Financing leases are included in property and equipment, net, current portion of long-term debt and long-term debt, net of current portion in the Company’s consolidated balance sheets. Fair Value of Financial Instruments. Cash, cash equivalents and restricted cash, accounts receivable and accounts payable Contingent consideration. are not supported by market activity. The Company estimates the fair value of contingent consideration liabilities using a Monte Carlo models. Changes in the fair value of contingent liabilities in subsequent periods are recorded as a loss (gain) in the statements of operations. Warrants. Contingent value rights Fixed Payment Arrangements Revenue Recognition. Aytu BioPharma Segment Net product sales consist of sales of prescription pharmaceutical products under the Rx Portfolio, principally to a limited number of wholesale distributors and pharmacies in the United States. International sales are made primarily to specialty distributors, as well as to hospitals, laboratories, and clinics, some of which are government owned or supported (collectively, its “Customers”). Products are generally shipped “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 makes estimates of the net sales price, including estimates of variable consideration (e.g., savings offers, prompt payment discounts, product returns, wholesaler (distributor) fees, wholesaler chargebacks and estimated rebates) to be incurred on the respective product sales, and recognizes the estimated amount as revenue when control of the product is transferred to its customers (e.g., upon delivery). Variable consideration is determined using either an expected value or a most likely amount method. The estimate of variable consideration is also subject to a constraint such that some or all of the estimated amount of variable consideration will only be included in the transaction price to the extent that it is probable that a significant reversal of revenue (in the context of the contract) will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Estimating variable consideration and the related constraint requires the use of significant management judgment and other market data. The Company provides for prompt payment discounts, wholesaler fees and wholesaler chargebacks based on customer contractual stipulations. The Company analyzes recent product return history to determine a reliable return rate. Additionally, management analyzes historical savings offers and rebate payments based on patient prescriptions and information obtained from third party providers to determine these respective variable considerations. Savings offers The Company offers savings programs for its patients covered under commercial payor plans in which the cost of a prescription to such patients is discounted. The amount of redeemed savings offers is recorded based on information from third-party providers against the estimated discount recorded as accrued expenses. The estimated discount is recorded as a gross to net sales adjustment at the time revenue is recognized. Historical trends of estimated savings offers will be regularly monitored, which may result in adjustments to such estimates in the future. Prompt payment discounts Prompt payment discounts are based on standard programs with wholesalers and are recorded as a discount allowance against accounts receivable and as a gross to net sales adjustment at the time revenue is recognized. Wholesale distribution fees Wholesale distribution fees are based on definitive contractual agreements for the management of the Company’s products by wholesalers and are recorded as accrued expenses and as a gross to net sales adjustment at the time revenue is recognized. Rebates The Rx Portfolio products are subject to commercial managed care and government managed Medicare and Medicaid programs whereby discounts and rebates are provided to participating managed care organizations and federal and/or state governments. Calculations related to rebate accruals are estimated based on information from third-party providers. Estimated rebates are recorded as accrued expenses and as a gross to net sales adjustments at the time revenue is recognized. Historical trends of estimated rebates will be regularly monitored, which may result in adjustments to such estimates in the future. Returns Wholesalers’ contractual return rights are limited to defective product, product that was shipped in error, product ordered by customer in error, product returned due to overstock, product returned due to dating or product returned due to recall or other changes in regulatory guidelines. The return policy for expired product allows the wholesaler to return such product starting six months prior to expiry date to twelve months post expiry date. Estimated returns are recorded as accrued expenses and as a gross to net sales adjustments at the time revenue is recognized. The Company analyzed return data available from sales since inception date to determine a reliable return rate. Wholesaler chargeback The Rx Portfolio products are subject to certain programs with wholesalers whereby pricing on products is discounted below wholesaler list price to participating entities. These entities purchase products through wholesalers at the discounted price, and the wholesalers charge the difference between their acquisition cost and the discounted price back to the Company. Estimated chargebacks are recorded as a discount allowance against accounts receivable and as a gross to net sales adjustment at the time revenue is recognized based on information provided by third parties. Aytu Consumer Health Segment The Aytu Consumer Health Portfolio generates its revenue from sales of various consumer health products through direct-to-consumer marketing channels utilizing the Company's proprietary Beyond Human marketing and sales platform and on e-commerce platforms. Revenue is generally recognized ”free-on-board” shipping point, as those are the agreed-upon contractual terms. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales. Customer Contract Costs. Credit Risk and Customer Concentrations. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company periodically monitors the credit quality of the financial institutions with which it invests. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company’s customers, sometimes referred to as partners or customers, are primarily large wholesale distributors that resell the Company’s products to retailers. As such, the loss of one or more of these large customers could have a material adverse effect on the Company’s business, operating results or financial condition. The Company is also subject to credit risk from accounts receivable related to product sales. Historically, the Company has not experienced significant credit losses on its accounts receivable and does not expect to have write-offs or adjustments to accounts receivable which would have a material adverse effect on the Company’s financial position, liquidity or results of operations. The following table presents certain customers that contributed more than 10% of gross revenue and accounts receivable : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Percentage of gross revenue ​ Percentage of accounts receivable ​ June 30, ​ 2021 ​ 2020 2021 ​ 2020 Customer A ​ 25 % ​ 16 % ​ 35 % ​ 19 % Customer B ​ 15 % ​ 16 % ​ 29 % ​ 16 % Customer C ​ 14 % ​ 14 % ​ 22 % ​ 14 % Customer D ​ — % ​ — % ​ — % ​ 12 % ​ ​ Costs of Sales. Stock-Based Compensation. Research and Development Intangible Assets and Goodwill. Goodwill is recorded as the difference between the fair value of the purchase consideration and the fair value of the net identifiable tangible and intangible assets acquired. Goodwill and other intangible assets are reviewed for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of an intangible asset may not be recoverable. Useful lives of finite-lived intangible assets by each asset category is summarized below: ​ ​ ​ ​ ​ ​ Estimated ​ Useful Lives ​ ​ in years Licensed asset ​ 7 Product technology rights 10 - 17 Developed technology ​ 17 Product distribution rights ​ 5 - 10 Commercial technology ​ 2 Tradename ​ 1 Customer list ​ 1.5 ​ Impairment of Long-lived Assets. If the estimated future undiscounted cash flows, excluding interest charges, from the use of an asset are less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value. The Company evaluated its long-lived assets for impairment as of June 30, 2021 and 2020 respectively, and recorded an impairment of $12.8 million for the Natesto and Tuzistra licensed asset and $0.2 million for the MiOXSYS patent portfolio. Advertising Costs. Income Taxes. The Company reviews its deferred tax assets for recoverability and establishes a valuation allowance based on historical taxable income, projected future taxable income, remaining carryforward periods, applicable tax strategies and the expected timing of the reversals of existing temporary differences. A valuation allowance is provided when it is more likely than not (likelihood of greater than 50%) that some portion or all of the deferred tax assets will not be realized. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments and which may not accurately anticipate actual outcomes. Tax positions are recognized only when it is more likely than not (likelihood of greater than 50%), based on technical merits, that the positions will be sustained upon examination. Tax positions that meet the more-likely-than-not threshold are measured using a probability weighted approach as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement. Whether the more-likely-than-not recognition threshold is met for a tax position is a matter of judgment based on the individual facts and circumstances of that position evaluated in light of all available evidence. The Company recognizes interest and penalties related to uncertain tax positions in Income tax (provision) benefit in the consolidated statements of operations. As of June 30, 2021, the Company had $0.2 million deferred tax liabilities included in other long-term liabilities in the consolidated balance sheet. There was no such liabilities as of June 30, 2020. Debt issuance costs, discounts (premium). As of the Neos merger date of March 19, 2021, the Company recorded a $0.8 million premium on the Deerfield debt (see Note 18) with a balance remaining of $0.6 million as of June 30, 2021. Segment information. Paragraph IV litigation costs. Business Combination and Contingent considerations. The consideration for our acquisitions and certain licensing agreements 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. Management estimates the fair value of contingent consideration obligations through valuation models that incorporate probability-adjusted assumptions related to the achievement of the milestones and thus likelihood of making related payments. The Company revalues its contingent consideration obligations each reporting period using Monte Carlo simulation. Changes in the fair value of contingent consideration obligations are recognized in the consolidated statements of income. Net Loss Per Common Share. period. Diluted net loss per share reflects the potential of securities that could share in the net loss of Aytu. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company’s net loss position. Restricted stock is considered legally issued and outstanding on the grant date, while RSUs are not considered legally issued and outstanding until the RSUs vest. Once the RSUs vest, equivalent common shares will be issued or issuable to the grantee and therefore the RSUs are not considered for inclusion in total common shares issued and outstanding until vested. The following table sets-forth securities that could be potentially dilutive, but as of the years ended June 30, 2021 and 2020 are anti-dilutive, and therefore are excluded from the calculation of diluted earnings per share. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ ​ ​ 2021 ​ 2020 Warrants to purchase common stock - liability classified (Note 14) ​ 24,105 24,105 Warrant to purchase common stock - equity classified (Note 14) ​ 1,254,952 2,288,454 Employee stock options (Note 13) ​ 109,588 76,594 Employee unvested restricted stock (Note 13) ​ 1,955,426 418,606 Employee unvested restricted stock units (Note 13) ​ 78,318 — ​ ​ ​ ​ 3,422,389 2,807,759 ​ Recent Accounting Pronouncements Fair Value Measurements (“ASU 2018-03”). The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted this as of July 1, 2020, the beginning of the Company’s fiscal year-ended June 30, 2021. The most relevant component of ASU 2018-13 to the Company’s financial statements relates to the need to disclose the range and weighted-average of significant unobservable inputs used in Level 3 fair value measurements. However, the Company discloses on a discrete basis all significant inputs for all Level 3 Fair Value measurements. Financial Instruments – Credit Losses (“ASU 2016-13”). The standard was originally effective for interim and annual reporting periods beginning after December 15, 2019 and early adoption was permitted for interim and annual reporting periods beginning after December 15, 2018. However, in November 2019, the Financial Accounting Standard Board (FASB) issued ASU 2019-10, Financial Instruments—Credit Losses, (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) — Effective Dates ASU 2019-10

Revenues from Contracts with Cu

Revenues from Contracts with Customers	12 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer
Revenue from Contract with Customer	3. Revenues from Contracts with Customers Contract Balances: Revenues by Product Portfolio ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ June 30, 2021 June 30, 2020 ​ ​ (In thousands) Primary care and devices portfolio $ 8,250 $ 7,957 Pediatric portfolio ​ ​ 24,428 ​ ​ 9,292 Consumer Health portfolio ​ ​ 32,954 ​ ​ 10,383 Consolidated revenue $ 65,632 $ 27,632 ​ Revenues by Geographic location. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ 2021 2020 ​ ​ (In thousands) U.S. ​ $ 60,687 ​ $ 24,980 International ​ 4,945 ​ 2,652 Total net revenue ​ $ 65,632 ​ $ 27,632 ​

Acquisitions

Acquisitions	12 Months Ended
	Jun. 30, 2021
Acquisitions
Acquisitions	4. Acquisitions Fiscal Year 2020 acquisitions On October 10, 2019, the Company entered into the Purchase Agreement with Cerecor, Inc. (“Cerecor”) to acquire a line of prescription pediatric products, (the "Pediatric Portfolio"), which closed on November 1, 2019. At closing, the Pediatric Portfolio consisted of four prescription products (i) Cefaclor™ for Oral Suspension, (ii) Karbinal® ER, (iii) Poly-Vi-Flor® and (iv) Tri-Vi-Flor™. Total consideration transferred to Cerecor consisted of $4.5 million in cash and approximately 9.8 million shares of Series G Convertible Preferred Stock. On February 14, 2020, the Company completed the merger with Innovus Pharmaceuticals, Inc. (“Innovus”) after approval by the stockholders of both companies on February 13, 2020 (the "Innovus Merger"). Upon the effectiveness of the Innovus Merger, a subsidiary of the Company merged with and into Innovus, and all outstanding Innovus common stock was exchanged for approximately 380,000 shares of the Company’s common stock and up to $16.0 million of Contingent Value Rights (“CVRs”). The outstanding Innovus warrants at the time of merger with 'cash out' rights were exchanged for approximately 2,000,000 shares of Series H Convertible Preferred stock of the Company over a period of time covering February 26, 2020 through March 10, 2020. The remaining Innovus warrants outstanding at the time of the merger, those without ‘cash out’ rights at the time of the Innovus Merger, remain outstanding, and upon exercise, retain the right to the merger consideration offered to Innovus stockholders, including any remaining claims represented by CVRs at the time of exercise. Innovus is now a 100% wholly-owned subsidiary of the Company, (“Aytu Consumer Health”). Neos Merger On March 19, 2021, the Company completed the Neos Merger with Neos Therapeutics, Inc. after approval by the stockholders of Neos on March 18, 2021 and the approval of the consideration to be delivered by the Company in connection with the merger by the shareholders of Aytu, also on March 18, 2021. Upon the effectiveness of the Neos Merger, a subsidiary of the Company merged with and into Neos, and all outstanding Neos common stock was exchanged for approximately The following table summarized the preliminary fair value of assets acquired and liabilities assumed at the date of acquisition. These estimates are preliminary, pending final evaluation of certain assets and liabilities, and therefore, are subject to revisions that may result in adjustments to the values presented below; ​ ​ ​ ​ ​ ​ March 19, 2021 ​ ​ (In thousands, except share and per-share) Considerations: ​ ​ ​ Fair Value of Aytu Common Stock ​ ​ ​ Total shares issued at close ​ 5,471,804 Estimated fair value per share of Aytu common stock $ 9.73 Estimated fair value of equity consideration transferred $ 53,241 Cash ​ ​ 15,383 Estimated fair value of replacement equity awards ​ ​ 432 Total consideration transferred $ 69,056 ​ ​ ​ ​ ​ ​ ​ March 19, 2021 ​ ​ (In thousands) Total consideration transferred $ 69,056 Recognized amounts of identified assets acquired and liabilities assumed ​ ​ ​ Cash and cash equivalents $ 15,722 Accounts receivable ​ ​ 24,696 Inventory ​ ​ 10,984 Prepaid expenses and other current assets ​ ​ 2,929 Operating leases right-to-use assets ​ ​ 3,515 Property, plant and equipment ​ ​ 5,519 Intangible assets ​ ​ 56,530 Other long-term assets ​ ​ 149 Accounts payable and accrued expenses ​ ​ (56,718) Short-term line of credit ​ ​ (10,707) Long-term debt, including current portion ​ ​ (17,678) Operating lease liabilities ​ ​ (3,515) Other long-term liabilities ​ ​ (82) Total identifiable net assets ​ 31,344 Goodwill $ 37,712 ​ The fair values of intangible assets were determined using variations of the cost approach, excess earnings method and the relief-from-royalties method. The fair value of Neos trade name, in-process R&D and developed product technology, which is the proprietary technology for the development of Adzenys XR-ODT, Adzenys ER, Cotempla XR-ODT and generic Tussionex, were determined using the relief from royalty method. The fair value of developed technology right, which is a proprietary modified-release drug delivery technology, was determined using multi-period excess earnings method. The fair value of RxConnect, which is a developed technology for the Neos-sponsored patient support program that offers affordable and predictable copays to all commercially insured patients, was determined using cost to recreate method. The finite-lived intangible assets are being amortized over a range of between 1 The fair values of the identifiable intangible assets acquired were as follows; ​ ​ ​ ​ ​ ​ ​ March 19, 2021 ​ ​ (In thousands) Identified intangible assets acquired: ​ ​ ​ Developed technology right $ 30,200 Developed products technology ​ ​ 22,700 In-process R&D ​ ​ 2,600 RxConnect ​ ​ 630 Trade name ​ ​ 400 Total intangible assets acquired $ 56,530 ​ Pro Forma Impact due to Business Combinations The following supplemental unaudited proforma financial information presents the Company’s results as if the following acquisitions had occurred on July 1, 2019: ● Acquisition of the Pediatric Portfolio, effective November 1, 2019. ● Merger with Innovus effective February 14, 2020. ● Merger with Neos, effective March 19, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended June 30, ​ 2021 2020 ​ ​ Pro forma ​ Pro forma ​ ​ Unaudited Unaudited (aa) ​ ​ (In thousands) Total revenues, net ​ $ 98,064 ​ $ 97,561 Net (loss) ​ $ (74,710) ​ $ (35,321) ​ (aa) Due to the absence of discrete financial information for Innovus, covering the period from February 1, 2020 through February 13, 2020, the Company did not include the impact of that stub-period for the pro forma results for the year ended June 30, 2020. Since the acquisition of Neos on March 19, 2021, Neos has contributed approximately $11.5 million in net revenues and $8.0 million to net loss. Other acquisitions On April 12, 2021, the Company acquired substantially all the assets of Rumpus Therapeutics, LLC through an asset purchase agreement with Rumpus VEDS, LLC, Rumpus Therapeutics, LLC, Rumpus Vascular, LLC (together with Rumpus VEDS, LLC and Rumpus Therapeutics LLC, “Rumpus”). This asset was acquired for an up-front fee of $1.5 million in cash and payment of aggregated fees of $0.6 million. Upon the achievement of certain regulatory and commercial milestones, up to $67.5 million in earn-out payments, which are payable in cash or shares of common stock, generally at the Company’s option. AR101 (enzastaurin) is an orally available investigational first-in-class small molecule, serine/threonine kinase inhibitor of the PKC beta, PI3K and AKT pathways.

Inventories

Inventories	12 Months Ended
	Jun. 30, 2021
Inventories
Inventories	5. Inventories Inventory balances consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ (In thousands) Raw materials $ 2,269 $ 397 Work in process ​ ​ 3,346 ​ ​ — Finished goods ​ 10,724 ​ 9,602 Inventory, net ​ $ 16,339 ​ $ 9,999 ​ The Company wrote down $7.3 million and $1.3 million of inventory during the years ended June 30, 2021 and 2020, respectively, primarily as a result of changing market conditions for the Company's COVID-19 test kits.

Property and Equipment

Property and Equipment	12 Months Ended
	Jun. 30, 2021
Property and Equipment
Property and Equipment	6. Property and Equipment Property and equipment, net consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Manufacturing equipment ​ $ 3,070 $ 112 Leasehold improvements 959 ​ 229 Office equipment, furniture and other 1,093 ​ 312 Lab equipment 832 ​ 90 Assets under construction 198 ​ — Less accumulated depreciation and amortization ​ ​ (1,012) ​ ​ (484) Property and equipment, net $ 5,140 ​ $ 259 ​ Depreciation expense was $0.6 million and $0.1 million for the years ended June 30, 2021 and 2020, respectively. During the year ended June 30, 2021, the Company recognized a loss of $0.1 million on sale of equipment primarily due to termination of leases. There was no such loss during the year ended June 30, 2020.

Leases

Leases	12 Months Ended
	Jun. 30, 2021
Leases
Leases	7. Leases The Company has entered into various operating lease agreements for certain of its offices, manufacturing facilities and equipment, and finance lease agreements for certain equipment. These leases have original lease periods expiring between 2022 and 2024. Most leases include one or more options to renew and the exercise of a lease renewal option typically occurs at the discretion of both parties. Certain leases also include options to purchase the leased property. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease termination until it is reasonably certain that the Company will exercise that option. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. Upon the closing of the Neos Merger on March 19, 2021, pursuant to the guidance under ASC 805, Neos recognized operating lease ROU asset and lease liability leases that have a remaining lease term of less than twelve months were recognized. The finance leases are related to Neos equipment finance leases with fixed contract terms and an implicit interest rate of approximately 5.9%. The components of lease expenses are as follows; ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ ​ ​ June 30, ​ ​ ​ 2021 2020 Statement of Operations Classification ​ ​ (In thousands) ​ ​ Lease cost: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ $ 476 ​ $ 199 Operating expenses Short-term lease cost ​ 109 ​ 9 Operating expenses Finance lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of leased assets ​ 21 ​ — Cost of sales Interest on lease liabilities ​ ​ 6 ​ ​ — ​ Other (expense), net Total net lease cost ​ $ 612 ​ $ 208 ​ Supplemental balance sheet information related to leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, Balance Sheet Classification ​ ​ 2021 ​ 2020 ​ ​ ​ ​ (In thousands) ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease assets ​ $ 3,563 ​ $ 634 Operating lease right-of-use asset Finance lease assets ​ ​ 329 ​ — Fixed assets, net Total leased assets ​ $ 3,892 ​ $ 634 ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 940 ​ $ 300 ​ Current operating lease liabilities Finance leases ​ ​ 102 ​ ​ — ​ Current portion of debt Long-term ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 2,624 ​ ​ 725 ​ Long-term operating lease liabilities Finance leases ​ ​ 180 ​ ​ — ​ Long-term debt Total lease liabilities ​ $ 3,846 ​ $ 1,025 ​ ​ ​ Remaining lease terms and discount rates used are as follows; ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ Weighted-Average Remaining Lease Term (years) ​ ​ ​ ​ ​ ​ ​ Operating lease assets ​ 3.42 ​ ​ 2.96 ​ Finance lease assets ​ 2.72 ​ ​ — ​ Weighted-Average Discount Rate ​ ​ ​ ​ ​ ​ Operating lease assets ​ 6.62 % ​ 10.02 % Finance lease assets ​ ​ 6.41 % ​ — ​ ​ Supplemental cash flow information related to leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ June 30, ​ 2021 2020 ​ ​ (In thousands) Cash flow classification of lease payments: ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 467 ​ $ 199 Operating cash flows from finance leases ​ $ 5 ​ $ — Financing cash flows from finance leases ​ $ 25 ​ $ — ​ As of June 30, 2021, maturities of lease liabilities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ (In thousands) 2022 ​ $ 1,154 ​ $ 117 2023 ​ ​ 1,182 ​ ​ 104 2024 ​ ​ 1,117 ​ ​ 88 2025 ​ ​ 556 ​ ​ — Total lease payments ​ ​ 4,009 ​ ​ 309 Less: Imputed interest ​ ​ (445) ​ ​ (27) Lease liabilities ​ $ 3,564 ​ $ 282 ​

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Jun. 30, 2021
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	8. Goodwill and Other Intangible Assets During the year ended June 30, 2021, the Company completed the Neos Merger, which resulted in goodwill of $37.7 million (see Note 4). As of June 30, 2021, based on forecast models, there was no impairment of the Company’s net asset value. However, the Company’s market capitalization has been below the carrying value of its assets, which could be indicative of a future impairment of assets. Management will continue to assess those relative valuations. The change in carrying amount of goodwill by reportable segment is as follows;. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aytu BioPharma Aytu Consumer Health Consolidated ​ ​ (In thousands) Balance as of June 30, 2019 ​ $ — ​ $ — ​ $ — Goodwill acquired ​ 19,453 ​ 8,637 ​ 28,090 Balance as of June 30, 2020 ​ ​ 19,453 ​ ​ 8,637 ​ ​ 28,090 Goodwill acquired ​ 37,712 ​ — ​ 37,712 Balance as of June 30, 2021 ​ $ 57,165 ​ $ 8,637 ​ $ 65,802 ​ The Company currently holds the following intangible asset portfolios as of June 30, 2021: (i) Licensed asset, which consist of pharmaceutical product assets that were acquired prior to July 1, 2020; (ii) Product technology rights, acquired from the November 1, 2019 acquisition of the Pediatric Portfolio from Cerecor and the Neos Merger on March 19, 2021, (iii) Proprietary modified-release drug delivery technology right as a result of the Neos Merger, (iv) Acquired product distribution rights and commercial technology consisting of RxConnect and trade names as a result of the Neos Merger, and patents, trade names and the acquired customer lists from the Innovus Merger, (v) Acquired in-process R&D from the Neos Merger related to the NT0502 product candidate for sialorrhea. The following table provides the summary of the Company’s intangible assets as of June 30, 2021 and June 30, 2020, respectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Carrying ​ Accumulated ​ Net Carrying ​ Life (in ​ Amount Amortization Amount years) ​ ​ (In thousands) Licensed asset ​ $ 3,246 ​ $ (1,430) ​ $ 1,816 ​ 3.92 Acquired product technology right ​ 45,400 ​ (4,160) ​ 41,240 12.88 Acquired technology right ​ ​ 30,200 ​ ​ (501) ​ ​ 29,699 ​ 16.75 Acquired product distribution rights ​ 11,354 ​ (2,073) ​ 9,281 8.57 Acquired in-process R&D ​ ​ 2,600 ​ ​ — ​ ​ 2,600 ​ Indefinite-lived Acquired commercial technology ​ ​ 630 ​ ​ (178) ​ ​ 452 ​ 0.75 Acquired trade name ​ ​ 400 ​ ​ (56) ​ ​ 344 ​ 1.75 Acquired customer lists ​ 390 ​ (358) ​ 32 0.01 Total ​ $ 94,220 ​ $ (8,756) ​ $ 85,464 13.47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Net Carrying ​ Life (in ​ Amount Amortization Impairment Amount years) ​ ​ (In thousands) Licensed assets ​ $ 23,649 ​ $ (7,062) ​ $ — ​ $ 16,587 ​ 11.88 MiOXSYS Patent ​ 380 ​ (185) ​ (195) ​ — ​ — Acquired product technology right ​ ​ 22,700 ​ ​ (1,513) ​ ​ — ​ ​ 21,187 ​ 9.34 Acquired product distribution rights ​ ​ 11,354 ​ ​ (565) ​ ​ — ​ ​ 10,789 ​ 7.78 Acquired customer lists ​ ​ 390 ​ ​ (98) ​ ​ — ​ ​ 292 ​ 1.12 Total ​ $ 58,473 ​ $ (9,423) ​ $ (195) ​ $ 48,855 ​ 9.11 ​ The following table summarizes the estimated future amortization expense to be recognized over the next years and periods thereafter: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ (In thousands) 2022 ​ $ 8,038 2023 ​ ​ 7,489 2024 ​ ​ 7,333 2025 ​ ​ 7,099 2026 ​ ​ 6,331 Thereafter ​ ​ 46,574 Total future amortization expense ​ $ 82,864 ​ Certain of the Company’s amortizable intangible assets include renewal options, extending the expected life of the asset. The renewal periods range between approximately 1 to 20 years depending on the license, patent or other agreement. Renewals are accounted for when they are reasonably assured. Intangible assets are amortized using the straight-line method over the estimated useful lives. Amortization expense of intangible assets was $7.1 million and $4.5 million during the years ended June 30, 2021 and 2020, respectively. On March 31, 2021, the Company terminated the Acerus agreement previously entered into on July 29, 2019. Pursuant to the Termination Agreement, the Company ceased all sales, marketing and promotions of Natesto, and Acerus agreed to pay the Company an aggregate amount of $7.5 million, payable in equal monthly installment payments for a period of 30 consecutive months. At the March 31, 2021 termination date, the Company determined that none of the $7.5 million future cash payments could be recognized as of that date, and therefore the remaining $4.3 million carrying value of the licensed intangible asset related to Natesto was impaired. There was no remaining value as of June 30, 2021. On April 12, 2021, the Company acquired substantially all the assets of Rumpus Therapeutics, LLC through an asset purchase agreement with Rumpus VEDS, LLC, Rumpus Therapeutics, LLC, Rumpus Vascular, LLC (together with Rumpus VEDS, LLC and Rumpus Therapeutics LLC, “Rumpus”). This in-process research and development (IPR&D) asset was acquired for an up-front fee of $1.5 million in cash and payment of aggregated fees of $0.6 million. The Company determined that the IPR&D asset has no alternative future use at the time of purchase and was recorded as research and development expense in the statements of operations. Licensed Assets ZolpiMist. Tuzistra XR. 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 acquisitions of Pediatric Portfolio in November 2019 and the Neos Merger in March 2021. The aggregate acquisition date fair value of the acquired Product Technology Rights was $45.4 million and is being amortized on a straight-line over the lives of these rights. Karbinal® ER. 20-year Poly-Vi-Flor and Tri-Vi-Flor. Cefaclor (cefaclor oral suspension). ADHD Portfolio. Developed Technology Right TRRP Technology. Product distribution rights and customer list In connection with the Innovus Merger, the Company obtained 35 products with a combination of over 300 registered trademarks and/or patent rights and customer lists. The acquisition date fair values of these trademarks and/or patent rights was $11.4 million, which is being amortized, on a straight-line, over the estimated life ranging 3 to 10 years. The acquired customer list had an acquisition date fair value of $0.4 million, which is being amortized on a straight-line over the estimated useful life of 1.5 years. In-Process R&D IPR&D – NT0502. Commercial Technology and Tradename RxConnect. As part of the Neos Merger, the Company acquired a commercial program, which is a Company-sponsored network of patient support program that offers affordable and predictable copays to all commercially insured patients. The acquisition date fair value was

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Jun. 30, 2021
Accrued liabilities.
Accrued Liabilities	9. Accrued liabilities Accrued liabilities consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Accrued settlement expense ​ $ — ​ $ 315 Accrued program liabilities ​ 8,689 ​ 959 Accrued product-related fees ​ 2,501 ​ 2,471 Accrued savings offers ​ ​ 20,148 ​ ​ — Accrued distributor fees ​ ​ 2,710 ​ ​ 457 Accrued liabilities for trade partners ​ 6,021 ​ 185 Medicaid liabilities ​ 1,714 ​ 1,842 Return reserve ​ 6,367 ​ 1,329 Other accrued liabilities* ​ 3,145 ​ 1,273 Total accrued liabilities ​ $ 51,295 ​ $ 8,831 * Other accrued liabilities consist of credit card liabilities, taxes payable, accounting fee, samples expense and consultants fee, none of which individually represent greater than five percent of total current liabilities.

Fair Value Considerations

Fair Value Considerations	12 Months Ended
	Jun. 30, 2021
Fair Value Considerations
Fair Value Considerations	10. Fair Value Considerations The Company’s asset and liability classified financial instruments include cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities, warrant derivative liability and contingent consideration. The carrying amounts of financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to their short maturities. The fair value of acquisition-related contingent consideration is based on a Monte Carlo models. The valuation policies are determined by management, and the Company’s Board of Directors is informed of any policy change. Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on reliability of the inputs as follows: Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to Aytu for identical assets or liabilities; Level 2: Inputs include quoted prices for similar assets and liabilities in active or inactive markets or that are observable for the asset or liability either directly or indirectly; and Level 3: Unobservable inputs that are supported by little or no market activity. The Company’s assets and liabilities which are measured at fair value on a recurring basis are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. 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. The Company has consistently applied the valuation techniques discussed below in all periods presented. The following table presents Company’s financial liabilities that were accounted for at fair value on a recurring basis as of June 30, 2021 and 2020, by level within the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2021 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Priced in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for ​ Other ​ Significant ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ Fair Value at June 30, Assets Inputs Inputs ​ ​ 2021 (Level 1) (Level 2) (Level 3) ​ ​ (In thousands) Recurring: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration $ 12,057 $ — $ — $ 12,057 CVR liability ​ 1,395 ​ — ​ — ​ 1,395 Total ​ $ 13,452 $ — $ — ​ $ 13,452 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Priced in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for ​ Other ​ Significant ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ Fair Value at June 30, Assets Inputs Inputs ​ ​ 2020 (Level 1) (Level 2) (Level 3) ​ (In thousands) Recurring: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration ​ $ 13,588 $ — $ — $ 13,588 CVR liability ​ ​ 5,572 ​ — ​ — ​ 5,572 Total ​ $ 19,160 $ — $ — ​ $ 19,160 ​ Contingent Consideration Tuzistra XR. ZolpiMist. On February 14, 2020, the Company recognized approximately $0.2 million in product related contingent consideration as a result of the Innovus Merger. The fair value was based on a discounted value of the future contingent payment using a 30% discount rate based on the estimated risk that the milestones would be achieved. As of June 30, 2021 and June 30, 2020, the contingent consideration was $0.3 million and $0.2 million, respectively. The contingent consideration accretion expense for the year ended June 30, 2021 was $0.1 million and was negligible during the year ended June 30, 2020. In June 2017, Innovus entered into Exclusive License Agreement (“the Agreement”) with University of Iowa Research Foundation (“UIRD”) for the use of patent and technology know-how. Pursuant to the agreement, Innovus will pay to UIRD a total milestone payment of $50,000 every other year beginning on July 1, 2021 for a total payment of $0.2 million. The fair value was based on a discounted value of the future contingent payment using a 26% discount rate based on the estimated risk that the milestones would be achieved The discounted value as of June 30, 2021, was approximately $0.1 million. Contingent value rights. Non-Recurring Fair Value Measurement Fixed payment arrangements. On June 21, 2021, the Company entered into a Waiver, Release and Consent pursuant to which the Company paid $2.8 million to the investor in early satisfaction of the fixed obligation. The company agreed to pay the remaining fixed obligation of $3.0 million in six equal quarterly payments of $0.5 million each over the next six quarters, beginning September 30, 2021. The Company accounted the Waiver, Release and Consent as a debt modification in accordance with ASC 470. Such a modification to the original terms required us to remeasure the related liabilities as of June 30, 2021 using discounted cash flow model. As of June 30, 2021, the fair value of the fixed payment arrangements was $9.5 million. The Company recognized a $1.3 million loss on extinguishment of the fixed obligation for the year ended June 30, 2021. The following able represents Company’s financial liabilities that were accounted for at fair value on a non-recurring basis as of June 30, 2021 and 2020, by level within the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2021 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Priced in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for ​ Other ​ Significant ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Fair Value at June 30, ​ Assets ​ Inputs ​ Inputs ​ ​ 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ ​ (In thousands) Non-recurring ​ ​ ​ ​ Fixed payment arrangements ​ $ 9,458 ​ $ — ​ $ — ​ $ 9,458 ​ ​ $ 9,458 ​ $ — ​ $ — ​ $ 9,458 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Priced in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for ​ Other ​ Significant ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ Fair Value at June 30, Assets Inputs Inputs ​ ​ 2020 (Level 1) (Level 2) (Level 3) ​ (In thousands) Non-recurring ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed payment arrangements ​ $ 13,512 $ — $ — $ 13,512 Total ​ $ 13,512 $ — $ — ​ $ 13,512 ​ Summary of Level 3 Input Changes The following table sets forth a summary of changes to those fair value measures using Level 3 inputs for the year ended June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CVR Contingent ​ ​ Fixed Payment ​ ​ Liability ​ Consideration ​ ​ Arrangements ​ (In thousands) ​ ​ ​ Balance as of June 30, 2019 $ — ​ $ 23,326 ​ $ — Included in earnings 523 ​ (9,741) ​ 1,452 Purchases, issues, sales and settlements: ​ ​ Purchases 7,049 ​ 183 ​ — Issues ​ ​ — ​ ​ — ​ ​ 29,838 Settlements (2,000) ​ (180) ​ (17,778) Balance as of June 30, 2020 ​ ​ 5,572 ​ ​ 13,588 ​ ​ 13,512 Included in earnings ​ (3,177) ​ ​ (848) ​ ​ 2,795 Purchases, issues, sales and settlements: ​ ​ ​ ​ ​ ​ ​ Settlements (1,000) ​ (683) ​ (6,849) Balance as of June 30, 2021 $ 1,395 ​ $ 12,057 ​ $ 9,458 ​ Significant Assumptions Significant assumptions used in valuing the contingent consideration were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 Tuzistra ​ ​ Valuation model ​ Scenario-Based ​ ​ Discounted Cash Flow ​ Leveraged Beta 0.68 ​ 0.36 ​ Market risk premium 6.00 % ​ 6.00 % Risk-free interest rate 1.90 % ​ 3.00 % Discount 15.30 % ​ 5.20 % Company specific discount 15.00 % ​ 15.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ZolpiMist ​ ​ Valuation method ​ Monte Carlo ​ ​ Discounted Cash Flow ​ Leveraged Beta 1.09 ​ 1.17 ​ Market risk premium 6.00 % ​ 6.00 % Risk-free interest rate 0.70 % ​ 3.00 % Discount 10.30 % ​ 5.20 % Company specific discount 15.00 % ​ 5.00 % ​ Significant assumptions used in valuing the CVRs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2021 2020 Contingent Value Rights ​ ​ Valuation method ​ Monte Carlo ​ ​ Monte Carlo ​ Leveraged Beta 0.91 ​ 0.88 ​ Market risk premium ​ 6.00 % ​ 6.17 % Risk-free interest rate ​ 0.36 % ​ 1.15 % Discount ​ 13.00 % ​ 30.00 % Company specific discount 5.00 % 20.00 % ​ Significant assumptions used in valuing the Fixed Payment Arrangements were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 Fixed Payment Obligations ​ ​ Valuation method ​ Discounted Cash Flow ​ ​ Discounted Cash Flow ​ Discount rate - minimum ​ 10.0 % ​ 1.8 % Discount rate - maximum 12.4 % 12.4 % ​

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2021
Income Taxes
Income Taxes	11. Income Taxes The provision for income taxes consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Current: ​ ​ Federal ​ $ — ​ $ — State ​ 16 ​ — Total current tax expense ​ 16 ​ — Deferred: ​ ​ ​ ​ ​ Federal ​ 200 ​ ​ — State ​ 43 ​ ​ — Total deferred tax expense ​ 243 ​ ​ — Provision for income taxes ​ $ 259 ​ $ — ​ ​ Income tax benefit resulting from applying statutory rates in jurisdictions in which the Company is taxed (Federal and various states) differs from the income tax provision (benefit) in the financial statements. Reconciliation of the U.S. federal statutory income tax rates to our effective tax rate is as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 ​ ​ 2020 ​ ​ ​ (In thousands) Tax at statutory rate $ (12,185) (21.00) % $ (2,934) (21.00) % State income taxes, net of federal benefit ​ (2,461) ​ (4.24) % ​ (798) ​ (5.71) % Stock based compensation ​ 43 ​ 0.07 % ​ (35) ​ (0.25) % Contingent consideration ​ (667) ​ (1.15) % ​ 54 ​ 0.39 % 162(m) limitation ​ ​ 235 ​ 0.40 % ​ ​ — ​ 0.00 % Transaction costs ​ ​ 160 ​ 0.28 % ​ ​ — ​ 0.00 % Loss on debt extinguishment and interest expense ​ — ​ 0.00 % ​ 167 ​ 1.20 % Change in valuation allowance ​ 14,483 ​ 24.96 % ​ 3,496 ​ 25.02 % Other ​ 651 ​ 1.13 % ​ 50 ​ 0.35 % Net income tax provision (benefit) $ 259 ​ 0.45 % $ — ​ 0.00 % ​ 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 for the respective periods: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Deferred tax assets: ​ ​ Net operating loss carry forward ​ $ 106,712 ​ $ 37,191 Accrued Rebates ​ ​ 8,412 ​ ​ — Share-based compensation ​ 2,330 ​ 1,891 Accrued expenses ​ ​ 1,507 ​ ​ 855 R&D credits ​ 2,115 ​ 9 Interest ​ ​ 2,064 ​ ​ — Inventory ​ 1,704 ​ 789 Lease liability ​ 1,031 ​ 261 Other ​ ​ 1,526 ​ ​ 358 Total deferred tax assets ​ ​ 127,401 ​ ​ 41,354 Less: valuation allowance ​ ​ (116,494) ​ ​ (39,552) Deferred tax assets, net of valuation allowance ​ ​ 10,907 ​ ​ 1,802 Deferred tax liabilities: ​ ​ ​ ​ ​ ​ Intangibles ​ (9,396) ​ (1,578) ROU asset ​ (1,009) ​ (224) Fixed assets ​ ​ (745) ​ ​ — Total deferred tax liabilities ​ ​ (11,150) ​ ​ (1,802) Net deferred tax liabilities ​ $ (243) ​ $ — ​ The Company has recorded a valuation allowance of $116.5 million and $39.6 million at June 30, 2021 and 2020, respectively, to reserve its net deferred tax assets. The change in valuation allowance is due to the acquisition of Neos, resulting in a $62.5 million valuation allowance being established at the acquisition date and the remainder of the change is due to the change in inventory of deferred items exclusive of indefinite lived deferred tax liabilities which can not be fully offset with existing attributes. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, carry back opportunities and tax planning strategies in making the assessment. The Company believes it is more likely than not it will realize the benefits of these deductible differences, net of the valuation allowance provided. The Company had federal net operating losses of approximately $466.7 million and $147.0 million as of June 30, 2021 and June 30, 2020, respectively that, subject to limitation, may be available in future tax years to offset taxable income. Of the available federal net operating losses, approximately $130.4 million can be carried forward indefinitely while the balance will begin to expire in 2024. As of June 30, 2021, the Company had research and development credits of $2.7 million, which begin to expire in 2024. The available state net operating losses, if not utilized to offset taxable income in future periods, will begin to expire in 2025 through 2038. Under the provisions of the Internal Revenue Code, substantial changes in the Company’s ownership may result in limitations on the amount of NOL carryforwards that can be utilized in future years. Net operating loss 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 be subject to examination for prior NOLs generated as such NOLs are utilized. As of June 30, 2021, the Company had various state NOL carryforwards. The determination of the state NOL carryforwards is dependent on apportionment percentages and state laws that can change from year to year and impact the amount of such carryforwards. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company has no accrued interest related to its uncertain tax positions as they all relate to timing differences that would adjust the Company’s net operating loss carryforward, interest expense carryover or research and development credit carryover and therefore do not require recognition. As a result of these timing differences, at June 30, 2021 and 2020, the Company had gross unrecognized tax benefits related to uncertain tax positions of $11.5 million and $0, respectively. Changes in unrecognized benefits in any given year are recorded as a component of deferred tax expense. A tabular rollforward of the Company’s gross unrecognized tax benefits is below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ ​ (In thousands) ​ Beginning balance ​ $ — ​ $ — ​ Increase resulting from prior period tax positions ​ 12,017 ​ — ​ Increase resulting from current period tax positions ​ ​ 2 ​ ​ — ​ Decrease resulting from current period tax positions ​ (482) ​ — ​ Ending balance ​ $ 11,537 ​ $ — ​ ​ ​ The change in the Company’s gross unrecognized tax benefits relates to the acquisition of Neos, whereby historic tax positions of Neos were inherited in the acquisition. Additionally, Neos pre-acquisition tax years are subject to the same general statute of limitations, resulting in its tax years back to 2004 being subject to examination.

Capital Structure

Capital Structure	12 Months Ended
	Jun. 30, 2021
Capital Structure
Capital Structure	12. Capital Structure 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, 2021 and June 30, 2020, the Company had 27,490,412 and 12,583,736 common shares issued Included in the common stock outstanding are 1,958,876 shares of restricted stock issued to executives, directors and employees. On June 8, 2020, the Company filed a shelf registration statement on Form S-3, which was declared effective by the SEC on June 17, 2020. This shelf registration statement covered the offering, issuance and sale by the Company of up to an aggregate of $100.0 million of its common stock, preferred stock, debt securities, warrants, rights and units (the “2020 Shelf”). The Company simultaneously entered into a sales agreement with Jefferies, LLC, as sales agent, which allows the Company to sell and issue shares of the Company's common stock from time-to-time in “at-the-market” offerings under the 2020 Shelf (“Jefferies ATM”). Through June 30, 2020, the Company has issued 430,230 shares of common stock under the Jefferies ATM, with total gross proceeds of $6.8 million before deducting underwriting discounts, commissions and other offering expenses of $1.9 million, and has issued an additional 352,912 shares of common stock under the Jefferies ATM, with total gross proceeds of $3.6 million before deducting underwriting discounts, commissions and other offering expenses of $0.2 million from July 1, 2020 through June 2, 2021, when the Jefferies ATM was effectively terminated by the Company. On June 4, 2021, the Company entered into a sales agreement with Cantor Fitzgerald & Co., as sales agent, to provide for the offering, issuance and sale by the Company of up to $30.0 million of its common stock from time to time in “at-the-market” offerings under the 2020 Shelf (the “Cantor ATM”). During the year ended June 30, 2021, the Company has issued 2,310,400 shares of common stock under the Cantor ATM, with total gross proceeds of approximately $12.7 million before deducting underwriting discounts, commissions, and other offering expenses of $0.5 million. The Company entered into three separate registered direct stock offerings on March 10, 2020, March 12, 2020 and March 19, 2020 (the “March Offerings”) in which the Company issued a combination of common stock and warrants. In July 2020, the Company issued 92,302 warrants to purchase 92,302 shares of the Company's common stock with a weighted-average exercise price of $15.99 to an investment bank. The warrants have a term of one year from the issuance date. These warrants had at issuance a fair value of approximately $0.4 million and were valued using a Black-Scholes model. On December 8, 2020, the Company effected a reverse stock split in which each common stockholder received one share of common stock for every 10 shares held (herein referred to collectively as the “Reverse Stock Split”). All share and per share amounts in this report have been adjusted to reflect the effect of the Reverse Stock Split. On the date of the Reverse Stock Split, the Company had no preferred shares issued and outstanding On December 10, 2020, the Company entered into an exchange agreement to exchange the $0.8 million of debt outstanding for 130,081 shares of the Company's common stock (see Note 18). On December 10, 2020, the Company entered into an underwriting agreement with H.C. Wainwright & Co., LLC (“Wainwright”) (as amended and restated, the “Underwriting Agreement”). Pursuant to the Underwriting Agreement, the Company agreed to sell, in an upsized firm commitment offering, 4,166,667 shares (the “Shares”) of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), to Wainwright at an offering price to the public of $6.00 per share, less underwriting discounts and commissions. In addition, pursuant to the Underwriting Agreement, the Company granted Wainwright a 30-day option to purchase up to an additional 625,000 shares of Common Stock at the same offering price to the public, less underwriting discounts and commissions. Wainwright exercised their over-allotment option in full, purchasing total common stock of 4,791,667 shares. The Company raised gross proceeds of $28.8 million through this offering. Offering costs totaled $2.6 million resulting in net cash proceeds of $26.2 million. In connection with the offering, the Company issued 311,458 underwriter warrants to purchase up to 311,458 shares of common stock. The exercise price per share of the underwriter warrants is $7.50 (equal to 125% of the public offering price per share for the shares of common stock sold in the offering) and the underwriter warrants have a term of five years from the date of effectiveness of the offering. The underwriter warrants are exercisable immediately. These warrants have fair value of approximately $1.3 million and are classified with the stockholders' equity. Effective June 2, 2021, the Company terminated the Underwriting Agreement with Wainwright; pursuant to such termination, there will be no future sales of the Company’s common stock under the agreement. On March 19, 2021, upon closing of the Neos Merger, the Company issued 5,447,000 shares of its common stock to acquire all the outstanding shares of common stock of Neos. In addition, pursuant to the agreement in the Neos Merger, the Company issued 24,804 shares of common stock to settle the accelerated restricted stock units of former Neos directors and officers (see Note 4). On March 20, 2021, the Company paid the CVR holders 103,190 shares of the Company’s common stock to satisfy one of two $1.0 million 2020 milestones, which relates to the Innovus achievement of $30.0 million in revenues during the 2020 calendar year. Year Ended June 30, 2020 The number of shares of the Company’s common stock and warrant discussed below are adjusted to reflect the December 8, 2020 Reverse Stock Split discussed above in this note. As the preferred stocks were all converted to common stock prior to December 8, 2020, no adjustment has been made to the preferred stock. Preferred stocks conversion In September 2019, investors holding shares of Series C preferred stock exercised their right to convert 443,833 shares of Series C preferred stock into 44,383 shares of common stock. There are no remaining Series C preferred stock outstanding. In October 2019, Armistice Capital converted 2,751,148 shares of Series E convertible preferred stock into 275,115 shares of common stock. There are no remaining Series E preferred stock outstanding. In October 2019, the Company issued 10,000 shares of Series F Convertible preferred stock, with a face value of $1,000 per share, and convertible at a conversion price of $1.00 (the “Current Conversion Price”). The terms of the Series F Convertible Preferred include a conversion price reset provision in the event a future financing transaction is priced below the Current Conversion Price. In November 2019, in connection with the Pediatric Portfolio acquisition, the Company issued 9,805,845 shares of Series G Convertible Preferred stock, which were converted into 980,585 shares of common stock in April 2020. In February 2020, in connection with the Innovus Merger, the Company issued (i) 380,971 shares of the Company’s common stock and (ii) 1,997,902 shares of Series H Convertible Preferred stock, of which, all 1,997,902 shares of the Series H Convertible Preferred stock were converted into 199,774 shares of common stock in March 2020. In addition, in March 2020, the following Convertible Preferred Stock issuances were converted into the Company’s common stock: (i) 400,000 shares of the Series D Convertible Preferred Stock were converted into 40,000 shares of the Company’s common stock, (ii) 10,000 shares of the Series F Convertible Preferred Stock, with a face value of $1,000 per share, and convertible at a conversion price of $1.00 (the “Current Conversion Price”), were converted into 1,000,000 shares of the Company’s common stock. There are no remaining shares of the Series D Convertible Preferred Stock and Series F Convertible Preferred Stock outstanding Cashless warrants In addition and concurrent with the Series F Convertible preferred stock issuance, the Company issued 1,000,000 warrants, with an exercise price of $12.50 and a term of five years. These warrants feature a contingent cashless exercise provision. During the three months ended December 31, 2019, the cashless exercise contingency was satisfied, reducing the strike price of the October 2019 Warrants to $0. During the three months ended March 31, 2020, an investor exercised 500,000 of the warrants using the cashless exercise provision. In April 2020, another investor exercised the remaining 500,000 of the October 2019 warrants using the cashless exercise provision, resulting in no remaining October 2019 warrants. On March 11, 2020, pursuant to the April 18, 2019 Note exchange agreement between the Company and Armistice, Armistice exercised the 291,577 warrants, resulting in no remaining April 2019 warrants. The “March Offerings” On March 19, 2020, the Company entered into a securities purchase agreement with certain institutional investors (the “the March 19, 2020 Purchasers”), pursuant to which the Company agreed to sell and issue, in a registered direct offering, an aggregate of (i) 1,253,920 shares of the Company’s common stock (the “Common Stock”) at a purchase price per share of $15.95 and (ii) warrants to purchase up to 1,253,920 shares of Common Stock (the “March 19, 2020 Warrants”) at an exercise price of $14.70 per share, for aggregate gross proceeds to the Company of $20.0 million, before deducting placement agent fees and other offering expenses payable by the Company. The March 19, 2020 Warrants are exercisable immediately upon issuance and have a term of one year from the issuance date. In addition, the Company issued 81,505 warrants with an exercise price of $19.938 per share to purchase up to 81,505 shares of common stock (the “March 19, 2020 Placement Agent Warrants”). The March 19, 2020 Placement Agent Warrants have a term of five years from the issuance date. Since March 19, 2020, a total of 120,000 March 19, 2020 Warrants have been exercised, for total proceeds of $1.7 million. The remaining 1,133,920 March 19, 2020 Warrants expired on March 19, 2021. On March 12, 2020, the Company entered into a securities purchase agreement with certain institutional investors, pursuant to which the Company agreed to sell and issue, in a registered direct offering, an aggregate of (i) 1,600,000 shares of the Company’s common stock at a purchase price per share of $12.50 and (ii) warrants to purchase up to 1,600,000 shares of Common Stock (the “March 12, 2020 Warrants”) at an exercise price of $12.50 per share, for aggregate gross proceeds to the Company of $20.0 million, before deducting placement agent fees and other offering expenses payable by the Company (the “Registered Offering”). The March 12, 2020 Warrants are exercisable immediately upon issuance and have a term of one year from the issuance date. In addition, the Company issued warrants with an exercise price of $15.625 per share to purchase up to 104,000 shares of common stock (the “March 12, 2020 Placement Agent Warrants”). The March 12, 2020 Placement Agent Warrants have a term of five years from the issuance date and expires on March 12, 2025. Since March 12, 2020, a total of 1,300,000 March 12, 2020 Warrants have been exercised, for total proceeds of approximately $16.3 million. The remaining 300,000 March 12, 2020 Warrants expired on March 11, 2021. On March 10, 2020, Company entered into a securities purchase agreement with an institutional investor, pursuant to which the Company agreed to sell and issue, in a registered direct offering, an aggregate of (i) 445,000 shares of the Company’s common stock (the “Common Stock”) at a purchase price per share of $11.50 and (ii) pre-funded warrants to purchase up to 337,607 shares of Common Stock (the “Pre-Funded Warrants”) at an effective price of $11.50 per share ($11.499 paid to the Company upon the closing of the offering and $0.001 to be paid upon exercise of such Pre- Funded Warrants), for aggregate gross proceeds to the Company of approximately $9.0 million, before deducting placement agent fees and other offering expenses payable by the Company (the “Registered Offering”). The Pre-Funded Warrants were immediately exercised upon close. In addition, the Company issued warrants with an exercise price of $14.375 per share to purchase up to 50,870 shares of common stock (the “March 10, 2020 Placement Agent Warrants”). The March 10, 2020 Placement Agent Warrants have a term of five years from the issuance date and expires on March 10, 2025. Since March 10, 2020, a total of 598,200 shares of the Company’s October 2018 $15.0 Warrants (the “October 18 $15.0 Warrants”) were exercised through April 27, 2020, resulting in proceeds of approximately $9.0 million. The remaining 419,160 October 2018 $15.0 Warrants expires on October 8, 2023. Innovus Notes conversion On April 27, 2020, an investor who held four different notes (Innovus Notes) converted the four outstanding note agreements into 153,370 shares of common stock. In addition, On May 11, 2020, another investor who held two different notes (Innovus Notes) converted the two outstanding note agreements into 30,835 shares of common stock. In April 2020, the issued a total of 16,500 shares of the Company’s common stock to three of the former Innovus board members engaged by the Company as consumer healthcare market advisors. Other issuance On March 31, 2020, the Company issued to the CVR holders 123,820 shares of the Company’s common stock to satisfy the first $2.0 million milestone, which related to the Innovus achievement of $24.0 million in revenues during the 2019 calendar year. In March 2020 and April 2020, a total of 598,200 shares of the Company’s October 2018 $15.0 Warrants (the “October 18 $15.0 Warrants”) were exercised for total proceeds of approximately $9.0 million. The remaining 419,160 October 2018 $15.0 Warrants expires on October 8, 2023. In May 2020, the Company issued 8,967 shares of common stock to Presmar in lieu of the $150,000 cash payment that was due as part of the November 2019 acquisition of Cerecor. In June 2020, the Company issued approximately 3,271 shares of common stock to a former employee upon termination of employment with the Company.

Equity Incentive Plan

Equity Incentive Plan	12 Months Ended
	Jun. 30, 2021
Equity Incentive Plan
Equity Incentive Plan	13. Equity Incentive Plan Aytu 2015 Plan. 3 4 Neos 2015 Plan. 1 Stock Options During the year ended June 30, 2021, there was no stock options granted under the Aytu 2015 Plan. The Company assumed 69,721 stock options previously granted under the Neos 2015 Plan. The fair value of the options is calculated using the Black-Scholes option pricing model. In order to calculate the fair value of the options, certain assumptions are made regarding components of the model, including the estimated fair value of the underlying common stock, risk-free interest rate, volatility, expected dividend yield and expected option life. Changes to the assumptions could cause significant adjustments to valuation. The Company estimates the expected term based on the average of the vesting term and the contractual term of the options. The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of the grant for treasury securities of similar maturity. The fair value of all options granted during the year ended June 30, 2021 utilized the following range of assumptions: ​ ​ ​ ​ ​ ​ ​ June 30, 2021 Expected volatility ​ 100.0 % Expected term (years) ​ 5.00 ​ Risk-free interest rate ​ 0.90 % Dividend yield ​ 0.00 % ​ Stock option activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ Weighted ​ Remaining ​ ​ Number of ​ Average ​ Contractual ​ ​ Options ​ Exercise Price ​ Life in Years Outstanding June 30, 2019 188 ​ $ 3,259.57 6.95 Granted 76,950 ​ ​ 12.42 Exercised (500) ​ ​ 9.70 Expired (24) ​ ​ 3,280.00 Outstanding June 30, 2020 76,614 ​ $ 19.39 9.67 Granted 69,721 ​ ​ 6.35 Forfeited/Cancelled (33,380) ​ ​ 8.61 Expired (3,367) ​ ​ 14.77 Outstanding at June 30, 2021 109,588 ​ $ 14.52 8.07 ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at June 30, 2021 54,539 ​ $ 20.92 7.64 ​ The following table details the options outstanding at June 30, 2021 by range of exercise prices: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ 6.2 - 9.70 58,316 ​ $ 6.41 8.33 16,970 ​ $ 6.51 $ 9.80 - 14.70 51,114 ​ $ 13.75 8.08 37,411 ​ $ 13.79 $ 2,800.00 - 4,200.00 158 ​ $ 3,255.70 4.80 158 ​ $ 3,255.70 ​ ​ 109,588 ​ $ 14.52 8.21 54,539 ​ $ 20.92 ​ The weighted-average grant date fair value of options granted during the years ended years ended June 30, 2021 and June 30, 2020 was $3.81 and $9.68, respectively. As of June 30, 2021, there was $0.4 million of total unrecognized compensation costs adjusted for any estimated forfeitures, related to non-vested stock options granted under the Company’s equity incentive plans. The unrecognized compensation cost is expected to be recognized over a weighted average period of 4.9 years. Restricted Stock On April 16, 2021, the Company granted 1,551,216 shares of restricted stock, with certain accelerated vesting conditions, to its directors pursuant to the Aytu 2015 Plan, of which 1/3 vest on April 16, 2022 and 1/12 on the first day of each quarter thereafter , subject to continuing employment with the Company through each vesting date until April 16, 2024. These restricted stocks grants have a grant date fair value of $6.49 per-share. Furthermore, on April 12, 2021, the Company granted 146,200 shares of restricted stock, with a grant date fair value of $6.84 per-share, to its employees pursuant to the Aytu 2015 Plan, of which 1/4 vested on the grant date and 1/16 each quarter thereafter on the three -month anniversary of the grant date thereafter, subject to continuing employment with the Company through each vesting date until April 12, 2024. Restricted stock activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Grant ​ ​ Number of ​ Date Fair ​ ​ Shares ​ Value Unvested at June 30, 2019 234,623 ​ $ 18.30 Granted 195,292 ​ ​ 10.60 Vested — ​ ​ — Forfeited (11,461) ​ ​ 17.90 Unvested at June 30, 2020 418,454 ​ $ 14.69 Granted 1,697,416 ​ ​ 6.52 Vested (160,602) ​ ​ 11.75 Unvested at June 30, 2021 1,955,268 ​ $ 7.83 ​ As of June 30, 2021, there was $13.4 million of total unrecognized compensation costs adjusted for any estimated forfeitures, related to non-vested restricted stock granted under the Company’s equity incentive plan. The unrecognized compensation cost is expected to be recognized over a weighted average period of 3.6 years. The total fair value of the 160,602 restricted stocks vested during the year ended June 30, 2021 was $1.1 million. The Company previously issued 158 shares of restricted stock outside of the Aytu 2015 Plan, which vest in July 2026. The unrecognized expense related to these shares was $1.0 million as of June 30, 2021 and is expected to be recognized over the weighted average period of 5.02 years. Restricted Stock Units In addition to the 35,728 RSUs that the Company assumed from the Neos 2015 Plan during the year ended June 30, 2021, on March 31, 2021, the Company granted 55,000 RSUs to a member of its management, of which 1/3 1/12 on the first day of each quarter subject to continuing employment with the Company through each vesting date until March 31, 2024 . 13,000 RSUs, with certain accelerated vesting conditions, to its directors. The RSUs have a grant date fair value of $7.17 per-share and fully vest one year from the grant date, subject to continuing employment with the Company through April 8, 2022. The 13,000 RSUs issued to the directors, all of which were unvested, were forfeited upon the resignations of the directors. Restricted stock units activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Grant ​ ​ Number of ​ Date Fair ​ ​ Shares ​ Value Unvested at June 30, 2020 — ​ $ — Granted ​ 103,728 ​ ​ 6.96 Vested (9,962) ​ ​ 4.99 Forfeited ​ (15,448) ​ ​ 7.00 Unvested at June 30, 2021 78,318 ​ $ 7.20 ​ As of June 30, 2021, there was $0.5 million of total unrecognized compensation costs adjusted for any estimated forfeitures, related to non-vested RSUs granted under the Company’s equity incentive plans. The unrecognized compensation cost is expected to be recognized over a weighted average period of 2.3 years. The total fair value of the 9,962 RSUs vested during the year ended June 30, 2021 was $0.1 million. Stock-based compensation expense related to the fair value of stock options and restricted stock and RSUs was included in the statements of operations as set forth in the below table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 2020 ​ ​ (In thousands) Cost of sales ​ $ 16 ​ $ — Research and development ​ ​ 68 ​ ​ — Selling and marketing ​ ​ 27 ​ ​ — General and Administrative ​ 3,463 ​ 1,079 Total stock-based compensation expense ​ $ 3,574 ​ $ 1,079 ​ The stock-based compensation expense included in the table above is attributable to stock options and restricted stock of $0.4 million and $3.2 million, respectively, for the year ended June 30, 2021. The stock-based compensation expense included in the table above is attributable to stock options and restricted stock of $0.1 million and $1.0 million, respectively, for the year ended June 30, 2020. Total recognized tax benefit from stock-based compensation was $1.2 million and $0.4 million during the year ended June 30, 2021 and June 30, 2020.

Warrants

Warrants	12 Months Ended
	Jun. 30, 2021
Warrants
Warrants	14. Warrants In July 2020, the Company issued 92,302 shares of warrants with a weighted average exercise price of $15.99 per share in connection with the March Offerings. The warrants have a term of one year from the issuance date. These warrants have a fair value of On December 15, 2020, the Company issued 311,458 shares of warrants with an exercise price of $7.50 per share in connection with the December 15, 2020 offering. The warrants have a five-year term from the issuance date and expires on December 15, 2025. These warrants have a fair value of approximately $1.3 million and are classified within stockholders' equity. A summary of equity-based warrants is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ Weighted ​ Remaining ​ ​ Number of ​ Average ​ Contractual ​ ​ Warrants ​ Exercise Price ​ Life in Years Outstanding June 30, 2019 1,621,938 ​ $ 31.50 4.36 Warrants issued 4,462,740 ​ 12 — Warrants exercised (3,796,150) ​ — — Outstanding June 30, 2020 2,288,528 ​ $ 30.26 2.00 Warrants issued 403,760 ​ — — Warrants expired (1,437,336) ​ — — Outstanding June 30, 2021 1,254,952 ​ $ 35.85 2.83 ​ On March 19, 2021, the remaining 1,133,920 March 19, 2020 Warrants with a weighted-average exercise price of $14.70 per share expired. There were no remaining March 19, 2020 Warrants outstanding as of June 30, 2021. On March 11, 2021, the remaining 300,000 March 12, 2020 Warrants with a weighted-average exercise price of $12.5 per share expired. There were no remaining March 12, 2020 Warrants outstanding as of June 30, 2021. During the year ended June 30, 2021, an additional 3,416 various other warrants expired. As of June 30, 2021 and 2020, the Company had 24,105 liability warrants outstanding with a weighted-average exercise price of $720.0. These warrants are expected to expire on August 25, 2022.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Jun. 30, 2021
Employee Benefit Plan
Employee Benefit Plan	15. Employee Benefit Plan The Company has a 401(k) plan that allows participants to contribute a portion of their salary, subject to eligibility requirements and annual IRS limits. The Company matches 50% of the first 6% contributed to the plan by employees. The Company’s match was approximately $0.3 million and $0.2 million during the years ended June 30, 2021 and 2020, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2021
Commitments and Contingencies
Commitments and Contingencies	16. Commitments and Contingencies Commitments and contingencies are described below and summarized by the following table as of June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total 2022 2023 2024 2025 2026 Thereafter ​ ​ (In thousands) Prescription database ​ $ 905 ​ $ 905 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Pediatric portfolio fixed payments and product Milestone ​ 11,575 ​ ​ 4,100 ​ ​ 3,100 ​ ​ 2,100 ​ ​ 2,100 ​ ​ 175 ​ ​ — Inventory purchase commitment ​ 1,472 ​ ​ 1,472 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — CVR liability ​ 12,000 ​ ​ 2,000 ​ ​ 5,000 ​ ​ 5,000 ​ ​ — ​ ​ — ​ ​ — Product contingent liability ​ 2,700 ​ ​ 50 ​ ​ — ​ ​ 50 ​ ​ — ​ ​ 550 ​ ​ 2,050 Product milestone payments ​ 3,000 ​ ​ 3,000 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Rumpus earn out payments ​ ​ 852 ​ ​ 580 ​ ​ 32 ​ ​ 35 ​ ​ 35 ​ ​ 35 ​ ​ 135 Other commitments ​ ​ 685 ​ ​ 189 ​ ​ 212 ​ ​ 178 ​ ​ 106 ​ ​ ​ ​ ​ ​ Total ​ $ 33,189 ​ $ 12,296 ​ $ 8,344 ​ $ 7,363 ​ $ 2,241 ​ $ 760 ​ $ 2,185 ​ Prescription Database In May 2016, the Company entered into an agreement with a vendor that provides us with prescription database information. The Company agreed to pay approximately $1.6 million over three years for access to the database of prescriptions certain products. In January 2020, the Company amended the agreement and agreed to pay an additional $0.6 million to add access to the database of prescriptions written for the Pediatric Portfolio. The agreement was further amended to include all prescriptions written for the Rx Portfolio. Pediatric Portfolio Fixed Payments and Product Milestone The Company assumed two fixed, periodic payment obligations to an investor (the “Fixed Obligation”). Beginning November 1, 2019 through January 2021, the Company will pay monthly payments of $86,840, with a balloon payment of $15.0 million that was to be due in January 2021. A second fixed obligation requires the Company pay a minimum of $100,000 monthly through February 2026, except for $210,767 paid in January 2020. On May 29, 2020, the Company entered into an Early Payment Agreement and Escrow Instruction (the “Early Payment Agreement”) pursuant to which the Company agreed to pay $15.0 million to the investor in early satisfaction of the Balloon Payment Obligation. The parties to the Early Payment Agreement acknowledged and agreed that the remaining fixed payments other than the Balloon Payment Obligation remain due and payable pursuant to the terms of the Agreement, and that nothing in the Early Payment Agreement alters, amends or waives any provisions or obligations in the Waiver or the Investor agreement other than as expressly set forth therein. On June 21, 2021, the Company entered into a Waiver, Release and Consent pursuant to which the Company paid $2.8 million to the investor in early satisfaction of the second fixed obligation. The company agreed to pay the remaining fixed obligation of $3.0 million in six equal quarterly payments of $0.5 million over the next six quarters commencing September 30, 2021. As a result of this, the Company recognized a loss of approximately $1.3 million during the year ended June 30, 2021. In addition, the Company acquired a Supply and Distribution Agreement with Tris (the “Karbinal Agreement”), under which the Company is granted the exclusive right to distribute and sell the product in the United States. The initial term of the Karbinal Agreement was 20 years. The Company will pay Tris a royalty equal to 23.5% of net sales. The Karbinal Agreement make-whole payment is capped at $2.1 million each year. The Karbinal Agreement also contains minimum unit sales commitments, which is based on a commercial year that spans from August 1 through July 31, of 70,000 units annually through 2025. The Company is required to pay Tris a royalty make whole payment of $30 for each unit under the 70,000-unit annual minimum sales commitment through 2025. The annual payment is due in August of each year. The Karbinal Agreement also has multiple commercial milestone obligations that aggregate up to $3.0 million based on cumulative net sales, the first of which is triggered at $40.0 million of net revenues. Inventory Purchase Commitment On May 1, 2020, the Company's Innovus subsidiary entered into a Settlement Agreement and Release (the “Settlement Agreement”) with Hikma Pharmaceuticals USA Inc. (“Hikma”). Pursuant to the settlement agreement, Innovus has agreed to purchase and Hikma has agreed to manufacture a minimum amount of our branded fluticasone propionate nasal spray USP, 50 mcg per spray (FlutiCare®), under Hikma’s FDA approved ANDA No. 207957 in the U.S. The commitment requires Innovus to purchase three batches of product through fiscal year 2022 each of which amount to $1.0 million. CVR Liability Upon closing the Innovus Merger, the Company entered into a CVR Agreement (see Note 4). Each CVR entitles its holder to receive its pro rata share, payable in cash or stock, at the option of the Company, of certain payment amounts if the targets are met. If any of the payment amounts is earned, they are to be paid by the end of the first quarter of the calendar year following the year in which they are earned. Multiple revenue milestones can be earned in one year. On March 31, 2020, the Company issued to CVR holders 123,820 shares of the Company’s common stock to satisfy the $2.0 million obligation as a result of Innovus achieving the $24.0 million revenue milestone for calendar year ended December 31, 2019. As a result of this, the Company recognized a gain of approximately $0.3 million during the year ended June 30, 2020. On March 20, 2021, the Company issued to the CVR holders approximately 103,190 shares of the Company’s common stock to satisfy one of two $1.0 million 2020 milestones, which relates to the Innovus achievement of $30.0 million in revenues during the 2020 calendar year. The $1.0 million 2020 milestone for achieving profitability was not met. Product Contingent Liability In February 2015, Innovus acquired Novalere, which included the rights associated with distributing FlutiCare. As part of the Merger, Innovus is obligated to make five additional payments of $0.5 million when certain levels of FlutiCare sales are achieved. The discounted value as of June 30, 2021, is approximately $0.3 million. In June 2017, Innovus entered into Exclusive License Agreement (“the Agreement”) with University of Iowa Research Foundation (“UIRD”) for the use of patent and technology know-how. Pursuant to the agreement, Innovus will pay to UIRD a total milestone payment of $50,000 every other year beginning on July 1, 2021 for a total payment of $0.2 million. The discounted value as of June 30, 2021, is approximately $0.1 million. Product Milestone Payments In connection with its intangible assets, the Company has certain milestone payments, totaling $3.0 million, payable at a future date, are not directly tied to future sales, but upon other events certain to happen. These obligations are included in the valuation of the Company’s contingent consideration (see Note 10). Rumpus Earn Out Payments On April 12, 2021, the Company acquired substantially all of the assets of Rumpus, pursuant to which the Company acquired certain rights and other assets, including key commercial global licenses with Denovo and Johns Hopkins, relating to AR101, which is a pivotal study-ready therapeutic being studied for the treatment of vEDS. This asset was acquired for an up-front fee of $1.5 million in cash and payment of aggregated fees of $0.6 million to Denovo and John Hopkins. Upon the achievement of certain regulatory and commercial milestones, up to $67.5 million in earn-out payments, which are payable in cash or shares of common stock, generally at the Company’s option, are payable to Rumpus. Under the license agreement with Denovo, the Company assumed the responsibility for paying annual maintenance fees of $25,000, a license option fee of $0.6 million payable in April 2022, and upon the achievement of certain regulatory and commercial milestones, up to $101.7 million, and escalating royalties based on net product sales ranging in percentage from the low teens to the high teens. Finally, under the license agreement with Johns Hopkins, the Company assumed the responsibility for paying minimum annual royalties escalating from $5,000 to $20,000 beginning in calendar year 2022, royalties of 3.0% of net product sales, and upon the achievement of certain regulatory and commercial milestones, up to $1.6 million. Other commitments In May 2021, the Company entered into commercial lease agreement for 6,352 square feet of office in Berwyn, Pennsylvania that commences on December 1, 2021 and ends on January 31, 2025. The initial monthly base rent was $14,300 with an approximate 2.5% increase in the base rent amount on an annual basis. On July 19, 2021, the Company and the lessor entered into an amendment, pursuant to which the parties agreed to amend the commencement date from December 1, 2021 to September 1, 2021. The Company will capitalize this lease as operating leases under ASC 842 in September 2021.

Segment Reporting

Segment Reporting	12 Months Ended
	Jun. 30, 2021
Segment Reporting
Segment Information	17. Segment Information The Company’s chief operating decision maker, 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. Aytu manages the Company and aggregated its operational and financial information in accordance with two reportable segments: Aytu BioPharma and Aytu Consumer Health. The Aytu BioPharma segment consists of the Company’s prescription products. The Aytu Consumer Health segment contains the Company’s consumer healthcare products, which was the result of the Innovus Merger. During the year ended June 30, 2021, the Aytu BioPharma segment recognized a total impairment loss of $12.8 million related to divestiture of the Natesto licensed asset and the write-off of Tuzistra licensed asset (see Note 8). Select financial information for these segments is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 2020 ​ ​ (In thousands) Consolidated revenue: ​ ​ ​ Aytu BioPharma ​ $ 32,678 ​ $ 17,249 Aytu Consumer Health ​ 32,954 ​ 10,383 Consolidated revenue ​ $ 65,632 ​ $ 27,632 ​ ​ ​ ​ ​ ​ ​ Consolidated net loss: ​ ​ Aytu BioPharma ​ $ (50,529) ​ $ (10,464) Aytu Consumer Health ​ (7,760) ​ (3,157) Consolidated net loss ​ $ (58,289) ​ $ (13,621) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Total assets: ​ ​ Aytu BioPharma ​ $ 236,449 ​ $ 126,724 Aytu Consumer Health ​ 29,219 ​ 26,569 Consolidated assets ​ $ 265,668 ​ $ 153,293 ​

Debt

Debt	12 Months Ended
	Jun. 30, 2021
Debt
Debt	18. Debt The Aytu BioPharma Note . eight The Innovus Notes . twelve The Neos Revolving Loan . In the event that, for any reason, all or any portion of the lender's commitment to make revolving loans is terminated prior to the scheduled maturity date, in addition to the payment of the principal amount and all unpaid accrued interest and other amounts due thereon, Neos is required to pay to the lender a prepayment fee equal to (i) 1.0% of the revolving loan commitment if such event occurs on or before October 2, 2021, and (ii) 0.5% of the revolving loan commitment if such event occurs after October 2, 2021 but before May 11, 2022. Neos may permanently terminate the revolving loan facility by prepaying all outstanding principal amounts and all unpaid accrued interest and other amounts due thereon, subject to at least five The Agreement contains customary affirmative covenants, negative covenants and events of default, as defined in the Loan Agreement, including covenants and restrictions that, among other things, require Neos to satisfy certain capital expenditure and other financial covenants, and restrict Neos’ ability to incur liens, incur additional indebtedness, engage in mergers and acquisitions or make asset sales without the prior written consent of the Lenders. A failure to comply with these covenants could permit the Lenders to declare Neos’ obligations under the Loan 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. Neos evaluated to determine if the embedded components in the agreement qualified as derivatives requiring separate recognition. In connection with the closing of the Neos Merger, Neos and Encina entered into a Consent, Waiver and First Amendment to the Loan Agreement, dated as of March 19, 2021 (the “Encina Consent, Waiver and Amendment”). Pursuant to the Consent, Waiver and First Amendment, Encina (i) irrevocably waives the right to impose the default rate of interest solely to the extent resulting from the inclusion of a "going concern" qualification in the audited financial statements of Neos on a consolidated basis for the fiscal year ending December 31, 2020 (the “Specified Default), (ii) the right to impose the Default Rate of interest under Section 3.1 of the Loan Agreement, or to collect interest accruing at such Default Rate that Lenders had a lawful right to collect or apply with respect to any such Specified Default, and (iii) makes certain other modifications to the Encina Loan Agreement to reflect the consummation of the Neos Merger and the status of Neos as a wholly-owned subsidiary of Aytu, in each case subject to the terms and conditions of the Encina Consent, Waiver and Amendment. The interest expense was $0.2 million for the period beginning March 20, 2021 and ended June 30, 2021. As of June 30, 2021, $7.9 million borrowing was outstanding under the Revolving Loan and Neos was in compliance with the covenants under the Loan Agreement as amended. The Neos Senior Secured Credit Facility . 66 2/3% 33 1/3% Long-term debt consists of the following; ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ (In thousands) Neos Senior secured credit facility, due on May 11, 2022 ​ $ 15,000 Exit fee ​ ​ 1,000 Unamortized premium ​ ​ 566 Financing leases, maturing through May 2024 ​ ​ 282 Total debt ​ ​ 16,848 Less: current portion ​ ​ (16,668) Long-term debt ​ $ 180 ​ In connection with the Neos Merger, Neos and Deerfield entered into a Consent, Waiver and Sixth Amendment to the Facility, dated as of March 19, 2021 (the “Deerfield Consent, Waiver and Amendment”). Pursuant to the Consent, Waiver and Sixth Amendment, Deerfield (i) consented to certain amendments to the Encina loan documents, (ii) irrevocably waive the Going Concern Conditions as described in the Deerfield Consent, Waiver and Amendment and their right to impose the default rate of interest as provided for in the Facility as of May 11, 2016, or to collect interest accruing at such default rate of interest, that the Lenders had a lawful right to collect or apply with respect to any such Event of Default for failure to satisfy such Going Concern Condition, (iii) subject the Company and its subsidiaries to certain restrictive covenants including limitations on the incurrence of debt, granting of liens and transfers of assets of the Company and its subsidiaries and (iv) makes certain other modifications to the Facility to reflect the consummation of the Neos Merger and the status of Neos as a wholly-owned subsidiary of the Company. Such modifications also include the prepayment of $15.0 million by the Company of the principal of the loan that was otherwise due on May 11, 2021 plus any accrued interest thereon through March 19, 2021, plus a make-whole payment equal to the interest that would otherwise have been due on that $15.0 million for the period beginning March 19, 2021 through May 11, 2021. The Sixth Amendment also eliminated the right of Deerfield to convert outstanding amounts of the loans into conversion shares and the right of Neos to make payments to Deerfield in the form of shares of common stock. The Company is a guarantor under the Facility. Pursuant to the terms of the Facility, as amended, the $15.0 million principal prepayment was paid in cash on March 19, 2021, and the carrying amount of the remaining outstanding debt was $16.6 million. As the Neos Merger was accounted for as a business combination under Topic 805, Neos evaluated and determined that the fair value of the remaining outstanding debt was $17.4 million as of March 20, 2021. Accordingly, Neos recorded a premium of $0.8 million, which is the difference between carrying amount and the fair value of the debt and is being amortized into interest expense using the effective interest method over the remaining term of the debt. As of June 30, 2021, the Company was in compliance with the covenants under the Facility as amended. Total interest expense on the Facility, net of premium amortization, was $0.4 million for the period beginning March 20, 2021 and ended June 30, 2021. Future principal payments of long-term debt, including financing leases, are as follows; ​ ​ ​ ​ ​ ​ June 30, ​ ​ (In thousands) 2022 ​ $ 16,102 2023 ​ ​ 96 2024 ​ ​ 84 2025 ​ ​ — Thereafter ​ ​ — Future principal payments ​ ​ 16,282 Add unamortized premium ​ ​ 566 Less current portion ​ ​ (16,668) Long-term debt ​ $ 180 ​

License Agreements

License Agreements	12 Months Ended
	Jun. 30, 2021
License Agreement
Licensing Agreements	19. License Agreements In October 2018, Neos entered into an Exclusive License Agreement (“NeuRx License”) with NeuRx Pharmaceuticals LLC (“NeuRx”), pursuant to which NeuRx granted Neos an exclusive, worldwide, royalty-bearing license to research, develop, manufacture, and commercialize certain pharmaceutical products containing NeuRx’s proprietary compound designated as NRX-101, referred to by Neos as NT0502. NT0502 is a new chemical entity that is being developed by Neos for the treatment of sialorrhea, which is excessive salivation or drooling. Under the NeuRx License, Neos made an upfront payment of $0.2 million to NeuRx upon the execution of the agreement. Neos made a payment of $0.2 million following receipt of notice of allowance of the first Licensed Patent by the United States Patent and Trademark Office (“USPTO”), as defined in the NeuRx License. Such Licensed Patent subsequently was issued by the USPTO. In April 2020, Neos met the completion of the first Pilot PK Study milestone, as defined in the NeuRx License, triggering the cash payment of $0.3 million. Neos may in the future be required to make certain development and milestone payments and royalties based on annual net sales, as defined in the NeuRx License. Royalties are to be paid on a country-by-country and licensed product-by-licensed product basis, during the period of time beginning on the first commercial sale of such licensed product in such country and continuing until the later of: (i) the expiration of the last-to-expire valid claim in any licensed patent in such country that covers such licensed product in such country; and/or (ii) expiration of regulatory exclusivity of such licensed product in such country. On October 31, 2017, Neos received a paragraph IV certification from Teva Pharmaceuticals USA, Inc. (“Teva”) advising Neos that Teva has filed an Abbreviated New Drug Application (“ANDA”) with the FDA for a generic version of Cotempla XR-ODT, in connection with seeking to market its product prior to the expiration of patents covering Cotempla XR-ODT. On December 13, 2017, Neos filed a patent infringement lawsuit in federal district court in the District of Delaware against Teva alleging that Teva infringed Neos’ Cotempla XR-ODT patents. On December 21, 2018, Neos entered into a Settlement Agreement (the “Teva Settlement Agreement”) and a Licensing Agreement (the “Teva Licensing Agreement” and collectively with the Teva Settlement Agreement, the “Teva Agreement”) with Teva that resolved all ongoing litigation involving Neos’ Cotempla XR-ODT patents and Teva’s ANDA. Under the Teva Licensing Agreement, Neos granted Teva a non-exclusive license to certain patents owned by Neos by which Teva has the right to manufacture and market its generic version of Cotempla XR-ODT under its ANDA beginning on July 1, 2026, or earlier under certain circumstances. The Teva Licensing Agreement has been submitted to the applicable governmental agencies. On July 25, 2016, Neos received a paragraph IV certification from Actavis Laboratories FL, Inc. (“Actavis”) advising Neos that Actavis had filed an ANDA with the FDA for a generic version of Adzenys XR-ODT. On September 1, 2016, Neos filed a patent infringement lawsuit in federal district court against Actavis alleging that Actavis infringed Neos’ Adzenys XR-ODT patents. On October 17, 2017, Neos entered into a Settlement Agreement (the “Actavis Settlement Agreement”) and a Licensing Agreement (the “Actavis Licensing Agreement” and collectively with the Actavis Settlement Agreement, the “Actavis Agreement”) with Actavis that resolved all ongoing litigation involving Neos’ Adzenys XR-ODT patents and Actavis’s ANDA. Under the Actavis Licensing Agreement, Neos granted Actavis a non-exclusive license to certain patents owned by Neos by which Actavis has the right to manufacture and market its generic version of Adzenys XR-ODT under its ANDA beginning on September 1, 2025, or earlier under certain circumstances. The Actavis Licensing Agreement has been submitted to the applicable governmental agencies. In July 2014, Neos entered into a Settlement Agreement and an associated License Agreement (the “2014 License Agreement”) with Shire LLC (“Shire”) for a non-exclusive license to certain patents for certain activities with respect to Neos’ New Drug Application (the “NDA”) No. 204326 for an extended-release orally disintegrating amphetamine polistirex tablet. In accordance with the terms of the 2014 License Agreement, following the receipt of the approval from the FDA for Adzenys XR-ODT, Neos paid a lump sum, non-refundable license fee of an amount less than $1.0 million in February 2016. Neos is paying a single digit royalty on net sales of Adzenys XR-ODT during the life of the patents. In March 2017, Neos entered into a License Agreement (the “2017 License Agreement”) with Shire, pursuant to which Shire granted Neos a non-exclusive license to certain patents owned by Shire for certain activities with respect to Neos’ NDA No. 204325 for an extended-release amphetamine oral suspension. In accordance with the terms of the 2017 License Agreement, following the receipt of the approval from the FDA for Adzenys ER, Neos paid a lump sum, non- refundable license fee of an amount less than $1.0 million in October 2017. Neos is paying a single digit royalty on net sales of Adzenys ER during the life of the patents. The royalties are recorded as cost of goods sold in the same period as the net sales upon which they are calculated. Additionally, each of the 2014 and 2017 License Agreements contains a covenant from Shire not to file a patent infringement suit against Neos alleging that Adzenys XR-ODT or Adzenys ER, respectively, infringes the Shire patents. In April 2020, the Company entered into a licensing agreement with Cedars-Sinai Medical Center to secure worldwide rights to various potential esophageal and nasopharyngeal uses of Healight, an investigational medical device platform technology. Healight has demonstrated safety and efficacy in a proof-of-concept clinical study in SARS-CoV-2 patients, and the Company plans to advance this technology to further assess its safety and efficacy in additional randomized, controlled human studies, initially focused on SARS-CoV-2 patients. The agreement with Cedars-Sinai grants the Company a license to all patent and development related technology rights for the intra-corporeal therapeutic use of ultraviolet light in the field of endotracheal and nasopharyngeal applications. The term of the agreement is on a country-by-country basis and will expire on the latest of the date upon which the last to expire valid claim shall expire, ten years after the first bona fide commercial sale of such licensed product in a country, or the expiration of any market exclusivity period granted by a regulatory agency. Pursuant to the terms of the agreement, the Company paid an initial $0.3 million license fee and approximately $0.1 million in earlier patent prosecution fees. In April 2021, the Company acquired substantially all the assets of Rumpus. Through this transaction the Company secured exclusive global rights to AR101 from Denovo in the fields of rare genetic pediatric onset or congenital disorders outside of oncology. AR101 is a pivotal study-ready therapeutic candidate initially targeting the treatment of vEDS. Under the terms of the transaction, the Company paid an upfront fee of $1.5 million in cash and payment of aggregated fees of $0.6 million to Denovo and John Hopkins. Upon the achievement of certain regulatory and commercial milestones, up to $67.5 million in earn-out payments, which are payable in cash or shares of common stock, generally at the Company’s option, are payable to Rumpus. In addition, the Company received assignments of third-party licenses from Denovo and Johns Hopkins and took over royalty obligations and performance-based milestones under these licenses.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jun. 30, 2021
Related Party Transactions
Related Party Transactions	20. Related Party Transactions Tris Pharma, Inc. On November 2, 2018, the Company entered into a Tris License Agreement. On November 1, 2019, the Company acquired the rights to Karbinal as a result of the acquisition of the Pediatric Portfolio from Cerecor, Inc. (See Notes 4 and 16). Mr. Ketan Mehta served as a Director on the Board of Directors of the Company, and is also the Chief Executive Officer of Tris. During the years ended June 30, 2021 and 2020, the Company paid Tris approximately $3.2 million and $1.3 million, respectively for a combination of royalty payments, inventory purchases and other payments as contractually required. The Company’s liabilities, including accrued royalties, contingent consideration and fixed payment obligations were $19.7 million and $22.9 million as of June 30, 2021 and 2020, respectively. In October 2020, the Company paid Tris approximately $1.6 million related to its Karbinal fixed payment obligation. On March 19, 2021, Mr. Ketan Mehta resigned as a Director on the Board of the Company, and Tris will no longer be considered a related party in the future.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2021
Subsequent Events
Subsequent Events	21. Subsequent Events On July 1, 2021, the Company and Avrio Genetics, LLC (“Avrio Genetics”) mutually agreed to terminate the Avrio agreement, effective as of June 29, 2021. In connection with the termination of the agreement, the Company entered into a termination agreement with Avrio. Pursuant to the terms of this termination agreement, the original Avrio agreement and its amendments are terminated in their entirety, except for certain provisions that survive the termination as specified in such agreement. Subsequent to the Avrio termination, on July 1, 2021, the Company signed an Asset Purchase Agreement (the “Asset Purchase Agreement”) with UAB “Caerus Biotechnologies” (“UAB”). Pursuant to the terms and conditions of the agreement, UAB will acquire all existing intellectual property rights, technical information and know-how related to MiOXSYS as well as all existing inventory and all rights attached and related to the product and manufacturing thereof. As consideration, UAB agreed to pay the Company approximately $0.5 million and make royalty payments to the Company of five percent of net global revenue of the products for five years from the closing date of the transactions contemplated in the Asset Purchase Agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2021
Summary of Significant Accounting Policies
Principals of Consolidation	Principals of Consolidation.
Basis of Presentation	Basis of Presentation.
Use of Estimate	Use of estimate.
Prior Period Reclassification	Prior Period Reclassification.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash.
Accounts Receivable	Accounts Receivable. The Company writes off uncollectible receivables when the likelihood of collection is remote. The Company evaluates the collectability of accounts receivable on a quarterly basis. An allowance, when needed, is based upon various factors, including: the financial condition and payment history of customers; an overall review of collections experience on other accounts; and, economic factors or events expected to affect future collections experience. Allowance for doubtful accounts was $1.0 million and $0.4 million as of June 30, 2021 and 2020, respectively.
Inventories	Inventories. The Company periodically reviews the composition of its inventories in order to identify obsolete, slow-moving, excess or otherwise unsaleable items. Unsaleable items will be written- down to net realizable value in the period identified. The reserve for slow moving inventories was $2.5 million and $1.3 million as of June 30, 2021 and 2020, respectively.
Going Concern Determination	Going Concern Determination. conditions and events that are known and reasonably knowable within one year after the date that the financial statements are issued. Recurring operating losses or year over year negative cash flows from operating activities are considered negative trends.
Property and equipment	Property and equipment. ​ ​ ​ ​ ​ ​ Estimated ​ Useful Lives ​ ​ in years Manufacturing equipment ​ 2 - 7 Leasehold improvements 3 Office equipment, furniture and other 2 - 7 Lab equipment 3 - 7
Leases	Leases. Fixed lease payments are recognized over the expected term of the lease using the effective interest method. Variable lease expenses that are not considered fixed, or in substance fixed, are expensed as incurred. Fixed and variable lease expense on operating leases are recognized within cost of goods sold 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 goods sold and interest expense, respectively, in the Company’s consolidated statements of operations. The Company has elected the short-term lease exemption and recognizes a short-term lease expense over lease terms of 12 months or less. Operating leases are included in operating lease ROU assets, current portion of operating lease liabilities and operating lease liabilities in the Company’s consolidated balance sheets. Financing leases are included in property and equipment, net, current portion of long-term debt and long-term debt, net of current portion in the Company’s consolidated balance sheets.
Fair Value of Financial Instruments	Fair Value of Financial Instruments. Cash, cash equivalents and restricted cash, accounts receivable and accounts payable Contingent consideration. are not supported by market activity. The Company estimates the fair value of contingent consideration liabilities using a Monte Carlo models. Changes in the fair value of contingent liabilities in subsequent periods are recorded as a loss (gain) in the statements of operations. Warrants. Contingent value rights Fixed Payment Arrangements
Revenue Recognition	Revenue Recognition. Aytu BioPharma Segment Net product sales consist of sales of prescription pharmaceutical products under the Rx Portfolio, principally to a limited number of wholesale distributors and pharmacies in the United States. International sales are made primarily to specialty distributors, as well as to hospitals, laboratories, and clinics, some of which are government owned or supported (collectively, its “Customers”). Products are generally shipped “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 makes estimates of the net sales price, including estimates of variable consideration (e.g., savings offers, prompt payment discounts, product returns, wholesaler (distributor) fees, wholesaler chargebacks and estimated rebates) to be incurred on the respective product sales, and recognizes the estimated amount as revenue when control of the product is transferred to its customers (e.g., upon delivery). Variable consideration is determined using either an expected value or a most likely amount method. The estimate of variable consideration is also subject to a constraint such that some or all of the estimated amount of variable consideration will only be included in the transaction price to the extent that it is probable that a significant reversal of revenue (in the context of the contract) will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Estimating variable consideration and the related constraint requires the use of significant management judgment and other market data. The Company provides for prompt payment discounts, wholesaler fees and wholesaler chargebacks based on customer contractual stipulations. The Company analyzes recent product return history to determine a reliable return rate. Additionally, management analyzes historical savings offers and rebate payments based on patient prescriptions and information obtained from third party providers to determine these respective variable considerations. Savings offers The Company offers savings programs for its patients covered under commercial payor plans in which the cost of a prescription to such patients is discounted. The amount of redeemed savings offers is recorded based on information from third-party providers against the estimated discount recorded as accrued expenses. The estimated discount is recorded as a gross to net sales adjustment at the time revenue is recognized. Historical trends of estimated savings offers will be regularly monitored, which may result in adjustments to such estimates in the future. Prompt payment discounts Prompt payment discounts are based on standard programs with wholesalers and are recorded as a discount allowance against accounts receivable and as a gross to net sales adjustment at the time revenue is recognized. Wholesale distribution fees Wholesale distribution fees are based on definitive contractual agreements for the management of the Company’s products by wholesalers and are recorded as accrued expenses and as a gross to net sales adjustment at the time revenue is recognized. Rebates The Rx Portfolio products are subject to commercial managed care and government managed Medicare and Medicaid programs whereby discounts and rebates are provided to participating managed care organizations and federal and/or state governments. Calculations related to rebate accruals are estimated based on information from third-party providers. Estimated rebates are recorded as accrued expenses and as a gross to net sales adjustments at the time revenue is recognized. Historical trends of estimated rebates will be regularly monitored, which may result in adjustments to such estimates in the future. Returns Wholesalers’ contractual return rights are limited to defective product, product that was shipped in error, product ordered by customer in error, product returned due to overstock, product returned due to dating or product returned due to recall or other changes in regulatory guidelines. The return policy for expired product allows the wholesaler to return such product starting six months prior to expiry date to twelve months post expiry date. Estimated returns are recorded as accrued expenses and as a gross to net sales adjustments at the time revenue is recognized. The Company analyzed return data available from sales since inception date to determine a reliable return rate. Wholesaler chargeback The Rx Portfolio products are subject to certain programs with wholesalers whereby pricing on products is discounted below wholesaler list price to participating entities. These entities purchase products through wholesalers at the discounted price, and the wholesalers charge the difference between their acquisition cost and the discounted price back to the Company. Estimated chargebacks are recorded as a discount allowance against accounts receivable and as a gross to net sales adjustment at the time revenue is recognized based on information provided by third parties. Aytu Consumer Health Segment The Aytu Consumer Health Portfolio generates its revenue from sales of various consumer health products through direct-to-consumer marketing channels utilizing the Company's proprietary Beyond Human marketing and sales platform and on e-commerce platforms. Revenue is generally recognized ”free-on-board” shipping point, as those are the agreed-upon contractual terms. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales.
Customer Contract Costs	Customer Contract Costs.
Credit Risk and Customer Concentrations	Credit Risk and Customer Concentrations. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company periodically monitors the credit quality of the financial institutions with which it invests. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company’s customers, sometimes referred to as partners or customers, are primarily large wholesale distributors that resell the Company’s products to retailers. As such, the loss of one or more of these large customers could have a material adverse effect on the Company’s business, operating results or financial condition. The Company is also subject to credit risk from accounts receivable related to product sales. Historically, the Company has not experienced significant credit losses on its accounts receivable and does not expect to have write-offs or adjustments to accounts receivable which would have a material adverse effect on the Company’s financial position, liquidity or results of operations. The following table presents certain customers that contributed more than 10% of gross revenue and accounts receivable : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Percentage of gross revenue ​ Percentage of accounts receivable ​ June 30, ​ 2021 ​ 2020 2021 ​ 2020 Customer A ​ 25 % ​ 16 % ​ 35 % ​ 19 % Customer B ​ 15 % ​ 16 % ​ 29 % ​ 16 % Customer C ​ 14 % ​ 14 % ​ 22 % ​ 14 % Customer D ​ — % ​ — % ​ — % ​ 12 % ​
Costs of Sales	Costs of Sales.
Stock-Based Compensation	Stock-Based Compensation.
Research and Development	Research and Development
Intangible assets and Goodwill	Intangible Assets and Goodwill. Goodwill is recorded as the difference between the fair value of the purchase consideration and the fair value of the net identifiable tangible and intangible assets acquired. Goodwill and other intangible assets are reviewed for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of an intangible asset may not be recoverable. Useful lives of finite-lived intangible assets by each asset category is summarized below: ​ ​ ​ ​ ​ ​ Estimated ​ Useful Lives ​ ​ in years Licensed asset ​ 7 Product technology rights 10 - 17 Developed technology ​ 17 Product distribution rights ​ 5 - 10 Commercial technology ​ 2 Tradename ​ 1 Customer list ​ 1.5 ​
Impairment of Long-lived Assets	Impairment of Long-lived Assets. If the estimated future undiscounted cash flows, excluding interest charges, from the use of an asset are less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value. The Company evaluated its long-lived assets for impairment as of June 30, 2021 and 2020 respectively, and recorded an impairment of $12.8 million for the Natesto and Tuzistra licensed asset and $0.2 million for the MiOXSYS patent portfolio.
Advertising Costs	Advertising Costs.
Income Taxes	Income Taxes. The Company reviews its deferred tax assets for recoverability and establishes a valuation allowance based on historical taxable income, projected future taxable income, remaining carryforward periods, applicable tax strategies and the expected timing of the reversals of existing temporary differences. A valuation allowance is provided when it is more likely than not (likelihood of greater than 50%) that some portion or all of the deferred tax assets will not be realized. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments and which may not accurately anticipate actual outcomes. Tax positions are recognized only when it is more likely than not (likelihood of greater than 50%), based on technical merits, that the positions will be sustained upon examination. Tax positions that meet the more-likely-than-not threshold are measured using a probability weighted approach as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement. Whether the more-likely-than-not recognition threshold is met for a tax position is a matter of judgment based on the individual facts and circumstances of that position evaluated in light of all available evidence. The Company recognizes interest and penalties related to uncertain tax positions in Income tax (provision) benefit in the consolidated statements of operations. As of June 30, 2021, the Company had $0.2 million deferred tax liabilities included in other long-term liabilities in the consolidated balance sheet. There was no such liabilities as of June 30, 2020.
Debt issuance costs, discounts (premium)	Debt issuance costs, discounts (premium). As of the Neos merger date of March 19, 2021, the Company recorded a $0.8 million premium on the Deerfield debt (see Note 18) with a balance remaining of $0.6 million as of June 30, 2021.
Segment information	Segment information.
Paragraph IV litigation costs	Paragraph IV litigation costs.
Business Combination and Contingent considerations	Business Combination and Contingent considerations. The consideration for our acquisitions and certain licensing agreements 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. Management estimates the fair value of contingent consideration obligations through valuation models that incorporate probability-adjusted assumptions related to the achievement of the milestones and thus likelihood of making related payments. The Company revalues its contingent consideration obligations each reporting period using Monte Carlo simulation. Changes in the fair value of contingent consideration obligations are recognized in the consolidated statements of income.
Net Loss Per Common Share	Net Loss Per Common Share. period. Diluted net loss per share reflects the potential of securities that could share in the net loss of Aytu. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company’s net loss position. Restricted stock is considered legally issued and outstanding on the grant date, while RSUs are not considered legally issued and outstanding until the RSUs vest. Once the RSUs vest, equivalent common shares will be issued or issuable to the grantee and therefore the RSUs are not considered for inclusion in total common shares issued and outstanding until vested. The following table sets-forth securities that could be potentially dilutive, but as of the years ended June 30, 2021 and 2020 are anti-dilutive, and therefore are excluded from the calculation of diluted earnings per share. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ ​ ​ 2021 ​ 2020 Warrants to purchase common stock - liability classified (Note 14) ​ 24,105 24,105 Warrant to purchase common stock - equity classified (Note 14) ​ 1,254,952 2,288,454 Employee stock options (Note 13) ​ 109,588 76,594 Employee unvested restricted stock (Note 13) ​ 1,955,426 418,606 Employee unvested restricted stock units (Note 13) ​ 78,318 — ​ ​ ​ ​ 3,422,389 2,807,759
Recent Accounting Pronouncements	Recent Accounting Pronouncements Fair Value Measurements (“ASU 2018-03”). The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted this as of July 1, 2020, the beginning of the Company’s fiscal year-ended June 30, 2021. The most relevant component of ASU 2018-13 to the Company’s financial statements relates to the need to disclose the range and weighted-average of significant unobservable inputs used in Level 3 fair value measurements. However, the Company discloses on a discrete basis all significant inputs for all Level 3 Fair Value measurements. Financial Instruments – Credit Losses (“ASU 2016-13”). The standard was originally effective for interim and annual reporting periods beginning after December 15, 2019 and early adoption was permitted for interim and annual reporting periods beginning after December 15, 2018. However, in November 2019, the Financial Accounting Standard Board (FASB) issued ASU 2019-10, Financial Instruments—Credit Losses, (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) — Effective Dates ASU 2019-10

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2021
Summary of Significant Accounting Policies
Schedule of useful lives of property and equipment	​ ​ ​ ​ ​ ​ Estimated ​ Useful Lives ​ ​ in years Manufacturing equipment ​ 2 - 7 Leasehold improvements 3 Office equipment, furniture and other 2 - 7 Lab equipment 3 - 7
Schedule of concentration of business risk	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Percentage of gross revenue ​ Percentage of accounts receivable ​ June 30, ​ 2021 ​ 2020 2021 ​ 2020 Customer A ​ 25 % ​ 16 % ​ 35 % ​ 19 % Customer B ​ 15 % ​ 16 % ​ 29 % ​ 16 % Customer C ​ 14 % ​ 14 % ​ 22 % ​ 14 % Customer D ​ — % ​ — % ​ — % ​ 12 %
Schedule of useful lives of finite lived intangible assets	​ ​ ​ ​ ​ ​ Estimated ​ Useful Lives ​ ​ in years Licensed asset ​ 7 Product technology rights 10 - 17 Developed technology ​ 17 Product distribution rights ​ 5 - 10 Commercial technology ​ 2 Tradename ​ 1 Customer list ​ 1.5
Schedule of antidilutive securities excluded from the computation of earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ ​ ​ 2021 ​ 2020 Warrants to purchase common stock - liability classified (Note 14) ​ 24,105 24,105 Warrant to purchase common stock - equity classified (Note 14) ​ 1,254,952 2,288,454 Employee stock options (Note 13) ​ 109,588 76,594 Employee unvested restricted stock (Note 13) ​ 1,955,426 418,606 Employee unvested restricted stock units (Note 13) ​ 78,318 — ​ ​ ​ ​ 3,422,389 2,807,759

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	12 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ June 30, 2021 June 30, 2020 ​ ​ (In thousands) Primary care and devices portfolio $ 8,250 $ 7,957 Pediatric portfolio ​ ​ 24,428 ​ ​ 9,292 Consumer Health portfolio ​ ​ 32,954 ​ ​ 10,383 Consolidated revenue $ 65,632 $ 27,632
Schedule of product revenues by geographic location	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ 2021 2020 ​ ​ (In thousands) U.S. ​ $ 60,687 ​ $ 24,980 International ​ 4,945 ​ 2,652 Total net revenue ​ $ 65,632 ​ $ 27,632

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Jun. 30, 2021
Acquisitions
Schedule of assets acquired and liabilities assumed	​ ​ ​ ​ ​ ​ March 19, 2021 ​ ​ (In thousands, except share and per-share) Considerations: ​ ​ ​ Fair Value of Aytu Common Stock ​ ​ ​ Total shares issued at close ​ 5,471,804 Estimated fair value per share of Aytu common stock $ 9.73 Estimated fair value of equity consideration transferred $ 53,241 Cash ​ ​ 15,383 Estimated fair value of replacement equity awards ​ ​ 432 Total consideration transferred $ 69,056 ​ ​ ​ ​ ​ ​ ​ March 19, 2021 ​ ​ (In thousands) Total consideration transferred $ 69,056 Recognized amounts of identified assets acquired and liabilities assumed ​ ​ ​ Cash and cash equivalents $ 15,722 Accounts receivable ​ ​ 24,696 Inventory ​ ​ 10,984 Prepaid expenses and other current assets ​ ​ 2,929 Operating leases right-to-use assets ​ ​ 3,515 Property, plant and equipment ​ ​ 5,519 Intangible assets ​ ​ 56,530 Other long-term assets ​ ​ 149 Accounts payable and accrued expenses ​ ​ (56,718) Short-term line of credit ​ ​ (10,707) Long-term debt, including current portion ​ ​ (17,678) Operating lease liabilities ​ ​ (3,515) Other long-term liabilities ​ ​ (82) Total identifiable net assets ​ 31,344 Goodwill $ 37,712
Schedule of intangible assets acquired	​ ​ ​ ​ ​ ​ ​ March 19, 2021 ​ ​ (In thousands) Identified intangible assets acquired: ​ ​ ​ Developed technology right $ 30,200 Developed products technology ​ ​ 22,700 In-process R&D ​ ​ 2,600 RxConnect ​ ​ 630 Trade name ​ ​ 400 Total intangible assets acquired $ 56,530
Schedule of Pro forma information	​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended June 30, ​ 2021 2020 ​ ​ Pro forma ​ Pro forma ​ ​ Unaudited Unaudited (aa) ​ ​ (In thousands) Total revenues, net ​ $ 98,064 ​ $ 97,561 Net (loss) ​ $ (74,710) ​ $ (35,321)

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Jun. 30, 2021
Inventories
Schedule of Inventory balances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ (In thousands) Raw materials $ 2,269 $ 397 Work in process ​ ​ 3,346 ​ ​ — Finished goods ​ 10,724 ​ 9,602 Inventory, net ​ $ 16,339 ​ $ 9,999

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Jun. 30, 2021
Property and Equipment
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Manufacturing equipment ​ $ 3,070 $ 112 Leasehold improvements 959 ​ 229 Office equipment, furniture and other 1,093 ​ 312 Lab equipment 832 ​ 90 Assets under construction 198 ​ — Less accumulated depreciation and amortization ​ ​ (1,012) ​ ​ (484) Property and equipment, net $ 5,140 ​ $ 259

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2021
Leases
Schedule of Components of lease expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ ​ ​ June 30, ​ ​ ​ 2021 2020 Statement of Operations Classification ​ ​ (In thousands) ​ ​ Lease cost: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ $ 476 ​ $ 199 Operating expenses Short-term lease cost ​ 109 ​ 9 Operating expenses Finance lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of leased assets ​ 21 ​ — Cost of sales Interest on lease liabilities ​ ​ 6 ​ ​ — ​ Other (expense), net Total net lease cost ​ $ 612 ​ $ 208
Schedule of balance sheet information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, Balance Sheet Classification ​ ​ 2021 ​ 2020 ​ ​ ​ ​ (In thousands) ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease assets ​ $ 3,563 ​ $ 634 Operating lease right-of-use asset Finance lease assets ​ ​ 329 ​ — Fixed assets, net Total leased assets ​ $ 3,892 ​ $ 634 ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 940 ​ $ 300 ​ Current operating lease liabilities Finance leases ​ ​ 102 ​ ​ — ​ Current portion of debt Long-term ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 2,624 ​ ​ 725 ​ Long-term operating lease liabilities Finance leases ​ ​ 180 ​ ​ — ​ Long-term debt Total lease liabilities ​ $ 3,846 ​ $ 1,025 ​ ​
Schedule of remaining lease term and discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ Weighted-Average Remaining Lease Term (years) ​ ​ ​ ​ ​ ​ ​ Operating lease assets ​ 3.42 ​ ​ 2.96 ​ Finance lease assets ​ 2.72 ​ ​ — ​ Weighted-Average Discount Rate ​ ​ ​ ​ ​ ​ Operating lease assets ​ 6.62 % ​ 10.02 % Finance lease assets ​ ​ 6.41 % ​ — ​
Schedule of supplemental cash flow information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ June 30, ​ 2021 2020 ​ ​ (In thousands) Cash flow classification of lease payments: ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 467 ​ $ 199 Operating cash flows from finance leases ​ $ 5 ​ $ — Financing cash flows from finance leases ​ $ 25 ​ $ —
Schedule of lease liability maturity	​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ (In thousands) 2022 ​ $ 1,154 ​ $ 117 2023 ​ ​ 1,182 ​ ​ 104 2024 ​ ​ 1,117 ​ ​ 88 2025 ​ ​ 556 ​ ​ — Total lease payments ​ ​ 4,009 ​ ​ 309 Less: Imputed interest ​ ​ (445) ​ ​ (27) Lease liabilities ​ $ 3,564 ​ $ 282

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2021
Goodwill and Other Intangible Assets
Schedule of change in carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aytu BioPharma Aytu Consumer Health Consolidated ​ ​ (In thousands) Balance as of June 30, 2019 ​ $ — ​ $ — ​ $ — Goodwill acquired ​ 19,453 ​ 8,637 ​ 28,090 Balance as of June 30, 2020 ​ ​ 19,453 ​ ​ 8,637 ​ ​ 28,090 Goodwill acquired ​ 37,712 ​ — ​ 37,712 Balance as of June 30, 2021 ​ $ 57,165 ​ $ 8,637 ​ $ 65,802
Schedule of finite lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Carrying ​ Accumulated ​ Net Carrying ​ Life (in ​ Amount Amortization Amount years) ​ ​ (In thousands) Licensed asset ​ $ 3,246 ​ $ (1,430) ​ $ 1,816 ​ 3.92 Acquired product technology right ​ 45,400 ​ (4,160) ​ 41,240 12.88 Acquired technology right ​ ​ 30,200 ​ ​ (501) ​ ​ 29,699 ​ 16.75 Acquired product distribution rights ​ 11,354 ​ (2,073) ​ 9,281 8.57 Acquired in-process R&D ​ ​ 2,600 ​ ​ — ​ ​ 2,600 ​ Indefinite-lived Acquired commercial technology ​ ​ 630 ​ ​ (178) ​ ​ 452 ​ 0.75 Acquired trade name ​ ​ 400 ​ ​ (56) ​ ​ 344 ​ 1.75 Acquired customer lists ​ 390 ​ (358) ​ 32 0.01 Total ​ $ 94,220 ​ $ (8,756) ​ $ 85,464 13.47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Net Carrying ​ Life (in ​ Amount Amortization Impairment Amount years) ​ ​ (In thousands) Licensed assets ​ $ 23,649 ​ $ (7,062) ​ $ — ​ $ 16,587 ​ 11.88 MiOXSYS Patent ​ 380 ​ (185) ​ (195) ​ — ​ — Acquired product technology right ​ ​ 22,700 ​ ​ (1,513) ​ ​ — ​ ​ 21,187 ​ 9.34 Acquired product distribution rights ​ ​ 11,354 ​ ​ (565) ​ ​ — ​ ​ 10,789 ​ 7.78 Acquired customer lists ​ ​ 390 ​ ​ (98) ​ ​ — ​ ​ 292 ​ 1.12 Total ​ $ 58,473 ​ $ (9,423) ​ $ (195) ​ $ 48,855 ​ 9.11
Schedule of Indefinite lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Carrying ​ Accumulated ​ Net Carrying ​ Life (in ​ Amount Amortization Amount years) ​ ​ (In thousands) Licensed asset ​ $ 3,246 ​ $ (1,430) ​ $ 1,816 ​ 3.92 Acquired product technology right ​ 45,400 ​ (4,160) ​ 41,240 12.88 Acquired technology right ​ ​ 30,200 ​ ​ (501) ​ ​ 29,699 ​ 16.75 Acquired product distribution rights ​ 11,354 ​ (2,073) ​ 9,281 8.57 Acquired in-process R&D ​ ​ 2,600 ​ ​ — ​ ​ 2,600 ​ Indefinite-lived Acquired commercial technology ​ ​ 630 ​ ​ (178) ​ ​ 452 ​ 0.75 Acquired trade name ​ ​ 400 ​ ​ (56) ​ ​ 344 ​ 1.75 Acquired customer lists ​ 390 ​ (358) ​ 32 0.01 Total ​ $ 94,220 ​ $ (8,756) ​ $ 85,464 13.47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Net Carrying ​ Life (in ​ Amount Amortization Impairment Amount years) ​ ​ (In thousands) Licensed assets ​ $ 23,649 ​ $ (7,062) ​ $ — ​ $ 16,587 ​ 11.88 MiOXSYS Patent ​ 380 ​ (185) ​ (195) ​ — ​ — Acquired product technology right ​ ​ 22,700 ​ ​ (1,513) ​ ​ — ​ ​ 21,187 ​ 9.34 Acquired product distribution rights ​ ​ 11,354 ​ ​ (565) ​ ​ — ​ ​ 10,789 ​ 7.78 Acquired customer lists ​ ​ 390 ​ ​ (98) ​ ​ — ​ ​ 292 ​ 1.12 Total ​ $ 58,473 ​ $ (9,423) ​ $ (195) ​ $ 48,855 ​ 9.11
Schedule of future amortization expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ (In thousands) 2022 ​ $ 8,038 2023 ​ ​ 7,489 2024 ​ ​ 7,333 2025 ​ ​ 7,099 2026 ​ ​ 6,331 Thereafter ​ ​ 46,574 Total future amortization expense ​ $ 82,864

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Jun. 30, 2021
Accrued liabilities.
Schedule of Accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Accrued settlement expense ​ $ — ​ $ 315 Accrued program liabilities ​ 8,689 ​ 959 Accrued product-related fees ​ 2,501 ​ 2,471 Accrued savings offers ​ ​ 20,148 ​ ​ — Accrued distributor fees ​ ​ 2,710 ​ ​ 457 Accrued liabilities for trade partners ​ 6,021 ​ 185 Medicaid liabilities ​ 1,714 ​ 1,842 Return reserve ​ 6,367 ​ 1,329 Other accrued liabilities* ​ 3,145 ​ 1,273 Total accrued liabilities ​ $ 51,295 ​ $ 8,831 * Other accrued liabilities consist of credit card liabilities, taxes payable, accounting fee, samples expense and consultants fee, none of which individually represent greater than five percent of total current liabilities.

Fair Value Considerations (Tabl

Fair Value Considerations (Tables)	12 Months Ended
	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2021 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Priced in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for ​ Other ​ Significant ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ Fair Value at June 30, Assets Inputs Inputs ​ ​ 2021 (Level 1) (Level 2) (Level 3) ​ ​ (In thousands) Recurring: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration $ 12,057 $ — $ — $ 12,057 CVR liability ​ 1,395 ​ — ​ — ​ 1,395 Total ​ $ 13,452 $ — $ — ​ $ 13,452 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Priced in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for ​ Other ​ Significant ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ Fair Value at June 30, Assets Inputs Inputs ​ ​ 2020 (Level 1) (Level 2) (Level 3) ​ (In thousands) Recurring: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration ​ $ 13,588 $ — $ — $ 13,588 CVR liability ​ ​ 5,572 ​ — ​ — ​ 5,572 Total ​ $ 19,160 $ — $ — ​ $ 19,160
Schedule of fair value on a nonrecurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2021 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Priced in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for ​ Other ​ Significant ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Fair Value at June 30, ​ Assets ​ Inputs ​ Inputs ​ ​ 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ ​ (In thousands) Non-recurring ​ ​ ​ ​ Fixed payment arrangements ​ $ 9,458 ​ $ — ​ $ — ​ $ 9,458 ​ ​ $ 9,458 ​ $ — ​ $ — ​ $ 9,458 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Priced in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for ​ Other ​ Significant ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ Fair Value at June 30, Assets Inputs Inputs ​ ​ 2020 (Level 1) (Level 2) (Level 3) ​ (In thousands) Non-recurring ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed payment arrangements ​ $ 13,512 $ — $ — $ 13,512 Total ​ $ 13,512 $ — $ — ​ $ 13,512 ​
Schedule of changes in Level 3 inputs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CVR Contingent ​ ​ Fixed Payment ​ ​ Liability ​ Consideration ​ ​ Arrangements ​ (In thousands) ​ ​ ​ Balance as of June 30, 2019 $ — ​ $ 23,326 ​ $ — Included in earnings 523 ​ (9,741) ​ 1,452 Purchases, issues, sales and settlements: ​ ​ Purchases 7,049 ​ 183 ​ — Issues ​ ​ — ​ ​ — ​ ​ 29,838 Settlements (2,000) ​ (180) ​ (17,778) Balance as of June 30, 2020 ​ ​ 5,572 ​ ​ 13,588 ​ ​ 13,512 Included in earnings ​ (3,177) ​ ​ (848) ​ ​ 2,795 Purchases, issues, sales and settlements: ​ ​ ​ ​ ​ ​ ​ Settlements (1,000) ​ (683) ​ (6,849) Balance as of June 30, 2021 $ 1,395 ​ $ 12,057 ​ $ 9,458
Contingent Value Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of significant assumptions used in valuation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2021 2020 Contingent Value Rights ​ ​ Valuation method ​ Monte Carlo ​ ​ Monte Carlo ​ Leveraged Beta 0.91 ​ 0.88 ​ Market risk premium ​ 6.00 % ​ 6.17 % Risk-free interest rate ​ 0.36 % ​ 1.15 % Discount ​ 13.00 % ​ 30.00 % Company specific discount 5.00 % 20.00 %
Fixed Payment Arrangements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of significant assumptions used in valuation	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 Fixed Payment Obligations ​ ​ Valuation method ​ Discounted Cash Flow ​ ​ Discounted Cash Flow ​ Discount rate - minimum ​ 10.0 % ​ 1.8 % Discount rate - maximum 12.4 % 12.4 %
Tuzistra XR | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of significant assumptions used in valuation	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 Tuzistra ​ ​ Valuation model ​ Scenario-Based ​ ​ Discounted Cash Flow ​ Leveraged Beta 0.68 ​ 0.36 ​ Market risk premium 6.00 % ​ 6.00 % Risk-free interest rate 1.90 % ​ 3.00 % Discount 15.30 % ​ 5.20 % Company specific discount 15.00 % ​ 15.00 %
ZolpiMist | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of significant assumptions used in valuation	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ZolpiMist ​ ​ Valuation method ​ Monte Carlo ​ ​ Discounted Cash Flow ​ Leveraged Beta 1.09 ​ 1.17 ​ Market risk premium 6.00 % ​ 6.00 % Risk-free interest rate 0.70 % ​ 3.00 % Discount 10.30 % ​ 5.20 % Company specific discount 15.00 % ​ 5.00 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2021
Income Taxes
Provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Current: ​ ​ Federal ​ $ — ​ $ — State ​ 16 ​ — Total current tax expense ​ 16 ​ — Deferred: ​ ​ ​ ​ ​ Federal ​ 200 ​ ​ — State ​ 43 ​ ​ — Total deferred tax expense ​ 243 ​ ​ — Provision for income taxes ​ $ 259 ​ $ — ​
Effective income tax rate reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 ​ ​ 2020 ​ ​ ​ (In thousands) Tax at statutory rate $ (12,185) (21.00) % $ (2,934) (21.00) % State income taxes, net of federal benefit ​ (2,461) ​ (4.24) % ​ (798) ​ (5.71) % Stock based compensation ​ 43 ​ 0.07 % ​ (35) ​ (0.25) % Contingent consideration ​ (667) ​ (1.15) % ​ 54 ​ 0.39 % 162(m) limitation ​ ​ 235 ​ 0.40 % ​ ​ — ​ 0.00 % Transaction costs ​ ​ 160 ​ 0.28 % ​ ​ — ​ 0.00 % Loss on debt extinguishment and interest expense ​ — ​ 0.00 % ​ 167 ​ 1.20 % Change in valuation allowance ​ 14,483 ​ 24.96 % ​ 3,496 ​ 25.02 % Other ​ 651 ​ 1.13 % ​ 50 ​ 0.35 % Net income tax provision (benefit) $ 259 ​ 0.45 % $ — ​ 0.00 %
Deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Deferred tax assets: ​ ​ Net operating loss carry forward ​ $ 106,712 ​ $ 37,191 Accrued Rebates ​ ​ 8,412 ​ ​ — Share-based compensation ​ 2,330 ​ 1,891 Accrued expenses ​ ​ 1,507 ​ ​ 855 R&D credits ​ 2,115 ​ 9 Interest ​ ​ 2,064 ​ ​ — Inventory ​ 1,704 ​ 789 Lease liability ​ 1,031 ​ 261 Other ​ ​ 1,526 ​ ​ 358 Total deferred tax assets ​ ​ 127,401 ​ ​ 41,354 Less: valuation allowance ​ ​ (116,494) ​ ​ (39,552) Deferred tax assets, net of valuation allowance ​ ​ 10,907 ​ ​ 1,802 Deferred tax liabilities: ​ ​ ​ ​ ​ ​ Intangibles ​ (9,396) ​ (1,578) ROU asset ​ (1,009) ​ (224) Fixed assets ​ ​ (745) ​ ​ — Total deferred tax liabilities ​ ​ (11,150) ​ ​ (1,802) Net deferred tax liabilities ​ $ (243) ​ $ —
Tabular rollforward of gross unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ ​ (In thousands) ​ Beginning balance ​ $ — ​ $ — ​ Increase resulting from prior period tax positions ​ 12,017 ​ — ​ Increase resulting from current period tax positions ​ ​ 2 ​ ​ — ​ Decrease resulting from current period tax positions ​ (482) ​ — ​ Ending balance ​ $ 11,537 ​ $ — ​ ​

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	12 Months Ended
	Jun. 30, 2021
Equity Incentive Plan
Significant assumptions used in valuing options/warrants issued	​ ​ ​ ​ ​ ​ ​ June 30, 2021 Expected volatility ​ 100.0 % Expected term (years) ​ 5.00 ​ Risk-free interest rate ​ 0.90 % Dividend yield ​ 0.00 %
Stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ Weighted ​ Remaining ​ ​ Number of ​ Average ​ Contractual ​ ​ Options ​ Exercise Price ​ Life in Years Outstanding June 30, 2019 188 ​ $ 3,259.57 6.95 Granted 76,950 ​ ​ 12.42 Exercised (500) ​ ​ 9.70 Expired (24) ​ ​ 3,280.00 Outstanding June 30, 2020 76,614 ​ $ 19.39 9.67 Granted 69,721 ​ ​ 6.35 Forfeited/Cancelled (33,380) ​ ​ 8.61 Expired (3,367) ​ ​ 14.77 Outstanding at June 30, 2021 109,588 ​ $ 14.52 8.07 ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at June 30, 2021 54,539 ​ $ 20.92 7.64
Stock options outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ 6.2 - 9.70 58,316 ​ $ 6.41 8.33 16,970 ​ $ 6.51 $ 9.80 - 14.70 51,114 ​ $ 13.75 8.08 37,411 ​ $ 13.79 $ 2,800.00 - 4,200.00 158 ​ $ 3,255.70 4.80 158 ​ $ 3,255.70 ​ ​ 109,588 ​ $ 14.52 8.21 54,539 ​ $ 20.92
Restricted stock activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Grant ​ ​ Number of ​ Date Fair ​ ​ Shares ​ Value Unvested at June 30, 2019 234,623 ​ $ 18.30 Granted 195,292 ​ ​ 10.60 Vested — ​ ​ — Forfeited (11,461) ​ ​ 17.90 Unvested at June 30, 2020 418,454 ​ $ 14.69 Granted 1,697,416 ​ ​ 6.52 Vested (160,602) ​ ​ 11.75 Unvested at June 30, 2021 1,955,268 ​ $ 7.83
Restricted stock units activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Grant ​ ​ Number of ​ Date Fair ​ ​ Shares ​ Value Unvested at June 30, 2020 — ​ $ — Granted ​ 103,728 ​ ​ 6.96 Vested (9,962) ​ ​ 4.99 Forfeited ​ (15,448) ​ ​ 7.00 Unvested at June 30, 2021 78,318 ​ $ 7.20
Stock-based compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 2020 ​ ​ (In thousands) Cost of sales ​ $ 16 ​ $ — Research and development ​ ​ 68 ​ ​ — Selling and marketing ​ ​ 27 ​ ​ — General and Administrative ​ 3,463 ​ 1,079 Total stock-based compensation expense ​ $ 3,574 ​ $ 1,079

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Jun. 30, 2021
Warrants
Schedule of equity-based warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ Weighted ​ Remaining ​ ​ Number of ​ Average ​ Contractual ​ ​ Warrants ​ Exercise Price ​ Life in Years Outstanding June 30, 2019 1,621,938 ​ $ 31.50 4.36 Warrants issued 4,462,740 ​ 12 — Warrants exercised (3,796,150) ​ — — Outstanding June 30, 2020 2,288,528 ​ $ 30.26 2.00 Warrants issued 403,760 ​ — — Warrants expired (1,437,336) ​ — — Outstanding June 30, 2021 1,254,952 ​ $ 35.85 2.83

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2021
Commitments and Contingencies
Summary of Commitments and Contingencies	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total 2022 2023 2024 2025 2026 Thereafter ​ ​ (In thousands) Prescription database ​ $ 905 ​ $ 905 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Pediatric portfolio fixed payments and product Milestone ​ 11,575 ​ ​ 4,100 ​ ​ 3,100 ​ ​ 2,100 ​ ​ 2,100 ​ ​ 175 ​ ​ — Inventory purchase commitment ​ 1,472 ​ ​ 1,472 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — CVR liability ​ 12,000 ​ ​ 2,000 ​ ​ 5,000 ​ ​ 5,000 ​ ​ — ​ ​ — ​ ​ — Product contingent liability ​ 2,700 ​ ​ 50 ​ ​ — ​ ​ 50 ​ ​ — ​ ​ 550 ​ ​ 2,050 Product milestone payments ​ 3,000 ​ ​ 3,000 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Rumpus earn out payments ​ ​ 852 ​ ​ 580 ​ ​ 32 ​ ​ 35 ​ ​ 35 ​ ​ 35 ​ ​ 135 Other commitments ​ ​ 685 ​ ​ 189 ​ ​ 212 ​ ​ 178 ​ ​ 106 ​ ​ ​ ​ ​ ​ Total ​ $ 33,189 ​ $ 12,296 ​ $ 8,344 ​ $ 7,363 ​ $ 2,241 ​ $ 760 ​ $ 2,185

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Jun. 30, 2021
Segment Reporting
Segment financial information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended June 30, ​ ​ 2021 2020 ​ ​ (In thousands) Consolidated revenue: ​ ​ ​ Aytu BioPharma ​ $ 32,678 ​ $ 17,249 Aytu Consumer Health ​ 32,954 ​ 10,383 Consolidated revenue ​ $ 65,632 ​ $ 27,632 ​ ​ ​ ​ ​ ​ ​ Consolidated net loss: ​ ​ Aytu BioPharma ​ $ (50,529) ​ $ (10,464) Aytu Consumer Health ​ (7,760) ​ (3,157) Consolidated net loss ​ $ (58,289) ​ $ (13,621) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ (In thousands) Total assets: ​ ​ Aytu BioPharma ​ $ 236,449 ​ $ 126,724 Aytu Consumer Health ​ 29,219 ​ 26,569 Consolidated assets ​ $ 265,668 ​ $ 153,293

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2021
Debt
Schedule of long term debt	​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ (In thousands) Neos Senior secured credit facility, due on May 11, 2022 ​ $ 15,000 Exit fee ​ ​ 1,000 Unamortized premium ​ ​ 566 Financing leases, maturing through May 2024 ​ ​ 282 Total debt ​ ​ 16,848 Less: current portion ​ ​ (16,668) Long-term debt ​ $ 180
Schedule of future principal payments of long term debt	​ ​ ​ ​ ​ ​ June 30, ​ ​ (In thousands) 2022 ​ $ 16,102 2023 ​ ​ 96 2024 ​ ​ 84 2025 ​ ​ — Thereafter ​ ​ — Future principal payments ​ ​ 16,282 Add unamortized premium ​ ​ 566 Less current portion ​ ​ (16,668) Long-term debt ​ $ 180

Nature of Business and Financ_2

Nature of Business and Financial Condition (Details)	Apr. 12, 2021USD ($)	Mar. 31, 2021USD ($)	Mar. 19, 2021USD ($)	Dec. 08, 2020	Mar. 31, 2021USD ($)	Jun. 30, 2021USD ($)product	Jun. 30, 2020USD ($)
Nature of Business and Financial Condition
Revenue from contract with customer						$ 65,632,000	$ 27,632,000
Restructuring costs						4,886,000	667,000
Accounts receivable, net						28,176,000	5,633,000
Accrued liabilities						51,295,000	8,831,000
Cash, cash equivalents and restricted cash						49,900,000
Net loss						(58,289,000)	(13,621,000)
Accumulated deficit						(178,299,000)	(120,010,000)
Net cash used in operating activities						(25,964,000)	(28,374,000)
Current assets						105,234,000	75,422,000
Aytu Consumer Health
Nature of Business and Financial Condition
Revenue from contract with customer						$ 32,954,000	10,383,000
Number of products | product						30
Net loss						$ (7,760,000)	$ (3,157,000)
Reverse Stock Split
Nature of Business and Financial Condition
Stock split, conversion ratio				10
Neos Therapeutics, Inc.
Nature of Business and Financial Condition
Repayments of long-term debt			$ 15,400,000
Payments for merger related costs			$ 5,500,000
Acerus
Nature of Business and Financial Condition
Termination agreement, aggregate amount		$ 7,500,000			$ 7,500,000
Termination agreement, monthly installment payments		$ 250,000
Termination agreement, equal monthly installment payment, period					30 months
In-process R&D | Rumpus
Nature of Business and Financial Condition
Cash transferred	$ 1,500,000
Payment of aggregated fees	600,000
Contingent consideration	$ 67,500,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)	Mar. 19, 2021USD ($)	Jun. 30, 2019USD ($)
Summary of Significant Accounting Policies
Cash, cash equivalents and restricted cash	$ 49,901	$ 48,333		$ 11,294
Reserve for cash discount	1,100	300
Reserve for chargebacks	1,000
Accounts receivable reserve	1,000	400
Reserve for slow moving inventory	$ 2,500	1,300
Term of return of such product	6 months
Period of expiry on return policy	12 months
Advertising costs	$ 15,200	4,700
Impairment of intangible assets, finite-lived	12,825	195
Add unamortized premium	$ 566
Number of reportable segments | segment	2
Other Noncurrent Liabilities [Member]
Summary of Significant Accounting Policies
Deferred tax liabilities	$ 200	$ 0
Neos Therapeutics, Inc. | Senior secured credit facility, due on May 11, 2022
Summary of Significant Accounting Policies
Add unamortized premium	$ 600		$ 800

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Property and equipment (Details)	12 Months Ended
	Jun. 30, 2021
Manufacturing Equipment | Minimum
Property, Plant and Equipment
Estimated useful lives in years	2 years
Manufacturing Equipment | Maximum
Property, Plant and Equipment
Estimated useful lives in years	7 years
Leasehold Improvements
Property, Plant and Equipment
Estimated useful lives in years	3 years
Office Equipment, Furniture and Other | Minimum
Property, Plant and Equipment
Estimated useful lives in years	2 years
Office Equipment, Furniture and Other | Maximum
Property, Plant and Equipment
Estimated useful lives in years	7 years
Lab Equipment | Minimum
Property, Plant and Equipment
Estimated useful lives in years	3 years
Lab Equipment | Maximum
Property, Plant and Equipment
Estimated useful lives in years	7 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Credit Risk and Customer Concentrations (Details) - Customer Concentration Risk	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Customer A | Revenue
Concentration Risk
Percentage of concentration risk	25.00%	16.00%
Customer A | Accounts Receivable
Concentration Risk
Percentage of concentration risk	35.00%	19.00%
Customer B | Revenue
Concentration Risk
Percentage of concentration risk	15.00%	16.00%
Customer B | Accounts Receivable
Concentration Risk
Percentage of concentration risk	29.00%	16.00%
Customer C | Revenue
Concentration Risk
Percentage of concentration risk	14.00%	14.00%
Customer C | Accounts Receivable
Concentration Risk
Percentage of concentration risk	22.00%	14.00%
Customer D | Accounts Receivable
Concentration Risk
Percentage of concentration risk		12.00%

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Intangible Assets and Goodwill (Details)	12 Months Ended
	Jun. 30, 2021
Licensed assets
Finite-Lived Intangible Assets
Estimated useful lives	7 years
Product Technology Right | Maximum
Finite-Lived Intangible Assets
Estimated useful lives	17 years
Product Technology Right | Minimum
Finite-Lived Intangible Assets
Estimated useful lives	10 years
Developed technology right
Finite-Lived Intangible Assets
Estimated useful lives	17 years
Product distribution rights | Maximum
Finite-Lived Intangible Assets
Estimated useful lives	10 years
Product distribution rights | Minimum
Finite-Lived Intangible Assets
Estimated useful lives	5 years
Commercial technology
Finite-Lived Intangible Assets
Estimated useful lives	2 years
Trade name
Finite-Lived Intangible Assets
Estimated useful lives	1 year
Customer lists
Finite-Lived Intangible Assets
Estimated useful lives	1 year 6 months

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Net Loss Per Common Share (Details) - shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities	3,422,389	2,807,759
Liability Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities	24,105	24,105
Equity Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities	1,254,952	2,288,454
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities	109,588	76,594
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities	1,955,426	418,606
Employee unvested restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities	78,318

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details)	Jun. 30, 2021
Accounting Standards Update 2018-03 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jul. 1, 2020
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted	false

Revenues from Contracts with _3

Revenues from Contracts with Customers (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Other Current Assets.
Revenue from Contract with Customer
Contract with customer asset	$ 21,000	$ 0
Accrued Liabilities Current
Revenue from Contract with Customer
Contract with customer liability	$ 200,000	$ 300,000

Revenues from Contracts with _4

Revenues from Contracts with Customers - Revenues by Product Portfolio (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer
Revenue from contract with customer	$ 65,632	$ 27,632
Primary Care and Devices Portfolio
Revenue from Contract with Customer
Revenue from contract with customer	8,250	7,957
Pediatric Portfolio
Revenue from Contract with Customer
Revenue from contract with customer	24,428	9,292
Consumer Health Portfolio
Revenue from Contract with Customer
Revenue from contract with customer	$ 32,954	$ 10,383

Revenues from Contracts with _5

Revenues from Contracts with Customers - Revenues by Geographic Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer
Revenue from contract with customer	$ 65,632	$ 27,632
U.S.
Revenue from Contract with Customer
Revenue from contract with customer	60,687	24,980
International
Revenue from Contract with Customer
Revenue from contract with customer	$ 4,945	$ 2,652

Acquisitions (Details)

Acquisitions (Details) $ / shares in Units, $ in Thousands	Mar. 19, 2021USD ($)$ / sharesshares	Feb. 14, 2020USD ($)shares	Nov. 01, 2019USD ($)productshares	Mar. 10, 2021shares	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Consideration
Number of products acquired | product			4
Cash payment for business acquisition					$ 15,520	$ 5,850
Acquisition related costs					2,919	2,348
Recognized amounts of identifiable assets acquired, and liabilities assumed
Goodwill					$ 65,802	$ 28,090
The Pediatric Portfolio
Consideration
Cash payment for business acquisition			$ 4,500
The Pediatric Portfolio | Series G Convertible Preferred Stock
Consideration
Total shares issued (in shares) | shares			9,800,000
Innovus
Consideration
Fair value of Contingent Value Rights		$ 16,000
Innovus | Aytu Common Stock
Consideration
Total shares issued (in shares) | shares		380,000
Innovus | Series H Convertible Preferred Stock
Consideration
Shares issued in exchange for warrants | shares				2,000,000
Neos Therapeutics, Inc.
Consideration
Cash payment for business acquisition	$ 15,383
Total shares issued (in shares) | shares	5,471,804
Estimated fair value per share of Aytu common stock (in dollars per share) | $ / shares	$ 9.73
Estimated fair value of equity consideration transferred	$ 53,241
Acquisition related costs	2,900
Issuance costs	100
Estimated fair value of replacement equity awards	432
Total consideration transferred	69,056
Recognized amounts of identifiable assets acquired, and liabilities assumed
Cash and cash equivalents	15,722
Accounts receivables, net	24,696
Inventory, net	10,984
Prepaid expenses and other current assets	2,929
Operating leases right-to-use assets	3,515
Property, plant and equipment	5,519
Intangible assets	56,530
Other long-term assets	149
Accounts payable and accrued other expenses	(56,718)
Short-term line of credit	(10,707)
Long-term debt, including current portion	(17,678)
Operating lease liability	(3,515)
Other long-term liabilities	(82)
Total identifiable net assets	31,344
Goodwill	$ 37,712
Minimum | Neos Therapeutics, Inc.
Consideration
Estimated useful lives	1 year
Maximum | Neos Therapeutics, Inc.
Consideration
Estimated useful lives	17 years
Innovus
Consideration
Ownership percentage by parent		100.00%
Neos Therapeutics, Inc.
Consideration
Ownership percentage by parent	100.00%

Acquisitions - Identifiable Int

Acquisitions - Identifiable Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Apr. 12, 2021	Mar. 19, 2021
Neos Therapeutics, Inc.
Acquisitions
Intangible assets		$ 56,530
Neos Therapeutics, Inc. | In-process R&D
Acquisitions
Intangible assets		2,600
Neos Therapeutics, Inc. | Developed technology right
Acquisitions
Intangible assets		30,200
Neos Therapeutics, Inc. | Developed Products Technology [Member]
Acquisitions
Intangible assets		22,700
Neos Therapeutics, Inc. | RXConnect [Member]
Acquisitions
Intangible assets		630
Neos Therapeutics, Inc. | Trade name
Acquisitions
Intangible assets		$ 400
Rumpus | In-process R&D
Acquisitions
Cash transferred	$ 1,500
Payment of aggregated fees	600
Contingent consideration	67,500
Rumpus | In-process R&D | Maximum
Acquisitions
Contingent consideration	$ 67,500

Acquisitions - Unaudited Pro Fo

Acquisitions - Unaudited Pro Forma Results (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Acquisitions
Contributed net revenues	$ 11,500
Total revenues, net		$ 98,064	$ 97,561
Contributed net loss	$ 8,000
Net (loss)		$ (74,710)	$ (35,321)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Inventories
Raw materials	$ 2,269	$ 397
Work in process	3,346
Finished goods	10,724	9,602
Inventory, net	16,339	9,999
Inventory write-down	$ 7,332	$ 1,265

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment
Less accumulated depreciation and amortization	$ (1,012,000)	$ (484,000)
Property and equipment, net	5,140,000	259,000
Depreciation expense	600,000	100,000
Loss on sale of equipment	100,000	0
Manufacturing Equipment
Property, Plant and Equipment
Property and equipment, gross	3,070,000	112,000
Leasehold Improvements
Property, Plant and Equipment
Property and equipment, gross	959,000	229,000
Office Equipment, Furniture and Other
Property, Plant and Equipment
Property and equipment, gross	1,093,000	312,000
Lab Equipment
Property, Plant and Equipment
Property and equipment, gross	832,000	$ 90,000
Asset under Construction
Property, Plant and Equipment
Property and equipment, gross	$ 198,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Mar. 19, 2021	Jun. 30, 2020
Leases
Lessee operating lease option to extend	true
Lessee financing lease option to extend	true
Operating lease right-of-use asset	$ 3,563		$ 634
Operating lease liabilities	$ 3,564
Neos Therapeutics, Inc.
Leases
Operating lease right-of-use asset		$ 3,500
Borrowing rate		6.70%
Interest rate		5.90%
Operating lease liabilities		$ 3,500

Leases - Components of lease ex

Leases - Components of lease expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases
Total net lease cost	$ 612	$ 208
Operating expenses.
Leases
Operating lease cost	476	199
Short-term lease cost	109	$ 9
Cost of sales.
Leases
Amortization of leased assets	21
Other (expense), net.
Leases
Interest on lease liabilities	$ 6

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Leases
Operating lease assets	$ 3,563	$ 634
Finance lease assets	$ 329
Finance Lease, Right-of-Use Asset, Statement of Financial Position	Property and equipment, net	Property and equipment, net
Total leased assets	$ 3,892	$ 634
Current portion of operating lease liabilities	940	$ 300
Current portion of finance lease liabilities	$ 102
Finance Lease, Liability, Current, Statement of Financial Position	Current portion of debt	Current portion of debt
Long-term operating lease liability, net of current portion	$ 2,624	$ 725
Finance leases, long-term	$ 180
Finance Lease, Liability, Noncurrent, Statement of Financial Position	Long-term debt, net of current portion	Long-term debt, net of current portion
Total lease liabilities	$ 3,846	$ 1,025

Leases - Remaining Lease Term (

Leases - Remaining Lease Term (Details)	Jun. 30, 2021	Jun. 30, 2020
Leases
Operating lease assets, weighted-average remaining lease term (years)	3 years 5 months 1 day	2 years 11 months 15 days
Finance lease assets, weighted-average remaining lease term (years)	2 years 8 months 19 days
Operating lease assets, weighted-average discount rate	6.62%	10.02%
Finance lease assets, weighted-average discount rate	6.41%

Leases - Cash Flow Information

Leases - Cash Flow Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases
Operating cash flows from operating leases	$ 467	$ 199
Operating cash flows from finance leases	5
Financing cash flows from finance leases	$ 25

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Operating leases
2022	$ 1,154
2023	1,182
2024	1,117
2025	556
Total lease payments	4,009
Less: Imputed interest	(445)
Lease liabilities	3,564
Finance leases
2022	117
2023	104
2024	88
Total lease payments	309
Less: Imputed interest	(27)
Lease liabilities	$ 282

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) $ in Thousands	Apr. 12, 2021USD ($)	Mar. 19, 2021USD ($)	Feb. 14, 2020USD ($)itemproduct	Nov. 01, 2019product	Mar. 19, 2019	Mar. 31, 2021USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived								$ 12,825	$ 195
Finite-lived intangible assets, net carrying amount								82,864	48,855
Amortization of intangible assets								6,009	4,490
Total amortization expense								7,100	4,500
Goodwill acquired								$ 37,712	28,090
Number of products acquired | product				4
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, period before next renewal or extension (years)								1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, period before next renewal or extension (years)								20 years
Neos Therapeutics, Inc.
Finite-Lived Intangible Assets [Line Items]
Goodwill acquired								$ 37,700
Acquired intangible assets		$ 2,600
Acerus
Finite-Lived Intangible Assets [Line Items]
Termination agreement, aggregate amount						$ 7,500
Termination agreement, equal monthly installment payment, period						30 months
Karbinal ER
Finite-Lived Intangible Assets [Line Items]
Optional initial extension term (years)								20 years
Licensed assets
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net carrying amount								$ 1,816	16,587
Estimated useful lives (in years)								7 years
Licensed assets | Natesto
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived								$ 4,300
Finite-lived intangible assets, net carrying amount								0
Licensed assets | ZolpiMist
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets							$ 3,200
Licensed assets | ZolpiMist | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)							7 years
Licensed assets | Tuzistra XR.
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived								8,500
Product Technology Right
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net carrying amount								41,240	21,187
Acquired intangible assets								$ 45,400
Product Technology Right | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)								10 years
Product Technology Right | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)								17 years
Product Technology Right | ADHD Portfolio
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)					17 years
Developed technology right
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net carrying amount								$ 29,699
Estimated useful lives (in years)								17 years
Developed technology right | Neos Therapeutics, Inc.
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets		$ 30,200
Estimated useful lives (in years)		17 years
Product distribution rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net carrying amount								$ 9,281	10,789
Product distribution rights | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)								5 years
Product distribution rights | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)								10 years
Product distribution rights | Innovus
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets			$ 11,400
Product distribution rights | Innovus | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)			3 years
Product distribution rights | Innovus | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)			10 years
Commercial technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net carrying amount								$ 452
Estimated useful lives (in years)								2 years
Commercial technology | Neos Therapeutics, Inc.
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets		$ 600
Estimated useful lives (in years)		1 year
Trade name
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net carrying amount								$ 344
Estimated useful lives (in years)								1 year
Trade name | Neos Therapeutics, Inc.
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets		$ 400
Estimated useful lives (in years)		2 years
Customer lists
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net carrying amount								$ 32	$ 292
Estimated useful lives (in years)								1 year 6 months
Customer lists | Innovus
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets			$ 400
Estimated useful lives (in years)			1 year 6 months
Product distribution rights and customer list | Innovus
Finite-Lived Intangible Assets [Line Items]
Number of products acquired | product			35
Registered trademarks | item			300
Rumpus | In-process R&D
Finite-Lived Intangible Assets [Line Items]
Up-front fee	$ 1,500
Payment of aggregated fees	$ 600

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 28,090
Goodwill acquired	37,712	$ 28,090
Goodwill, ending balance	65,802	28,090
Aytu Bio Pharma
Goodwill [Roll Forward]
Goodwill, beginning balance	19,453
Goodwill acquired	37,712	19,453
Goodwill, ending balance	57,165	19,453
Aytu Consumer Health
Goodwill [Roll Forward]
Goodwill, beginning balance	8,637
Goodwill acquired		8,637
Goodwill, ending balance	$ 8,637	$ 8,637

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount		$ 58,473
Accumulated amortization	$ (8,756)	(9,423)
Impairment		(195)
Finite-lived intangible assets, net	$ 82,864	$ 48,855
Intangible assets, weighted-average remaining life (in years)	13 years 5 months 19 days	9 years 1 month 9 days
Intangible assets, gross carrying amount	$ 94,220
Intangible assets, net carrying amount	85,464	$ 48,855
In-process R&D
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	2,600
Licensed assets
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	3,246	23,649
Accumulated amortization	(1,430)	(7,062)
Finite-lived intangible assets, net	$ 1,816	$ 16,587
Intangible assets, weighted-average remaining life (in years)	3 years 11 months 1 day	11 years 10 months 17 days
MiOXSYS Patent
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount		$ 380
Accumulated amortization		(185)
Impairment		(195)
Product Technology Right
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	$ 45,400	22,700
Accumulated amortization	(4,160)	(1,513)
Finite-lived intangible assets, net	$ 41,240	$ 21,187
Intangible assets, weighted-average remaining life (in years)	12 years 10 months 17 days	9 years 4 months 2 days
Developed technology right
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	$ 30,200
Accumulated amortization	(501)
Finite-lived intangible assets, net	$ 29,699
Intangible assets, weighted-average remaining life (in years)	16 years 9 months
Product distribution rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	$ 11,354	$ 11,354
Accumulated amortization	(2,073)	(565)
Finite-lived intangible assets, net	$ 9,281	$ 10,789
Intangible assets, weighted-average remaining life (in years)	8 years 6 months 25 days	7 years 9 months 10 days
Commercial technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	$ 630
Accumulated amortization	(178)
Finite-lived intangible assets, net	$ 452
Intangible assets, weighted-average remaining life (in years)	9 months
Trade name
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	$ 400
Accumulated amortization	(56)
Finite-lived intangible assets, net	$ 344
Intangible assets, weighted-average remaining life (in years)	1 year 9 months
Customer lists
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	$ 390	$ 390
Accumulated amortization	(358)	(98)
Finite-lived intangible assets, net	$ 32	$ 292
Intangible assets, weighted-average remaining life (in years)	3 days	1 year 1 month 13 days

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Other Intangible Assets
2022	$ 8,038
2023	7,489
2024	7,333
2025	7,099
2026	6,331
Thereafter	46,574
Finite-lived intangible assets, net	$ 82,864	$ 48,855

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Jun. 30, 2020
Accrued liabilities.
Accrued settlement expense			$ 315
Accrued program liabilities		$ 8,689	959
Accrued product-related fees		2,501	2,471
Accrued savings offers		20,148
Accrued distributor fees		2,710	457
Accrued liabilities for trade partners		6,021	185
Medicaid liabilities		1,714	1,842
Return reserve		6,367	1,329
Other accrued liabilities	[1]	3,145	1,273
Total accrued liabilities		$ 51,295	$ 8,831
[1]	Other accrued liabilities consist of credit card liabilities, taxes payable, accounting fee, samples expense and consultants fee, none of which individually represent greater than five percent of total current liabilities.

Fair Value Considerations - Fin

Fair Value Considerations - Financial Liabilities Accounted for at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Fair Value Considerations
Total	$ 13,452	$ 19,160
Level 3
Fair Value Considerations
Total	13,452	19,160
Contingent Consideration
Fair Value Considerations
Total	12,057	13,588
Contingent Consideration | Level 3
Fair Value Considerations
Total	12,057	13,588
Contingent Value Rights
Fair Value Considerations
Total	1,395	5,572
Contingent Value Rights | Level 3
Fair Value Considerations
Total	$ 1,395	$ 5,572

Fair Value Considerations - Con

Fair Value Considerations - Contingent Consideration (Details)	1 Months Ended	12 Months Ended
	Nov. 30, 2021USD ($)	Jun. 30, 2021USD ($)item	Jun. 30, 2020USD ($)item	Feb. 14, 2020USD ($)	Nov. 02, 2018USD ($)	Jun. 11, 2018USD ($)	Jun. 30, 2017	Feb. 28, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		$ 9,500,000
Contingent consideration accretion expense		(4,459,000)	$ (10,430,000)
Tuzistra XR
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration					$ 8,800,000
Contingent consideration accretion expense		$ 200,000	400,000
Number of milestones achieved | item		0
Milestone payments made		$ 0
Tuzistra XR | Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration			$ 13,200,000
Tuzistra XR | Discounted Cash Flow | Discount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discounted value of future contingent payment			0.0520
Tuzistra XR | Scenario Based
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		$ 11,000,000
Tuzistra XR | Scenario Based | Discount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discounted value of future contingent payment		0.1530
Tuzistra XR | Forecast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment for contingent consideration liability	$ 3,000,000
ZolpiMist
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration						$ 2,600,000
Contingent consideration accretion expense		$ 100,000	$ 200,000
Number of milestones achieved | item			0
Milestone payments made			$ 0
ZolpiMist | Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration			$ 200,000
ZolpiMist | Discounted Cash Flow | Discount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discounted value of future contingent payment			0.0520
ZolpiMist | Monte carlo Mode
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		$ 700,000
ZolpiMist | Monte carlo Mode | Discount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discounted value of future contingent payment		0.1030
Innovus
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		$ 300,000	$ 200,000	$ 200,000				$ 300,000
Contingent consideration accretion expense		100,000
Total milestone payments								$ 500,000
Innovus | University of lowa Research Foundation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		100,000
License agreement milestone payment payable		50,000
Total milestone payments		$ 200,000
Innovus | Discount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discounted value of future contingent payment				0.30
Innovus | Discount | University of lowa Research Foundation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discounted value of future contingent payment							26

Fair Value Considerations - C_2

Fair Value Considerations - Contingent Value Rights (Details) - USD ($) $ in Millions	Mar. 20, 2021	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of shares issued to contingent value rights share holders		123,820
Contingent value rights amount		$ 2
First milestone		$ 24
Innovus
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Additional maximum contingent consideration			$ 16
Maximum shares to be issued to settle CVR shares			470,000
Number of shares issued to contingent value rights share holders	103,190	123,820
Contingent value rights amount	$ 1	$ 2
First milestone		$ 24
Second milestone	$ 30
Milestone not met during the year			$ 1
CVR liability			$ 1.4	$ 5.6

Fair Value Considerations - Fix

Fair Value Considerations - Fixed Payment Arrangements (Details) $ in Thousands	Jun. 21, 2021USD ($)item	Nov. 01, 2019USD ($)	Jan. 31, 2021USD ($)	Jun. 30, 2020USD ($)	Jan. 31, 2020USD ($)	Jun. 30, 2021USD ($)	Sep. 30, 2021USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contractual obligation						$ 33,189
Contingent consideration						9,500
Loss on extinguishment of fixed obligation						$ 1,300
Investor One
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments for variable monthly obligation to investor					$ 200
The Pediatric Portfolio
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Minimum annual royalties		$ 2,100
The Pediatric Portfolio | Investor One
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed monthly payments to Investor		$ 100
Monthly variable payments to investor, percentage of revenues		15.00%
Monthly minimum variable payments to Investor		$ 100
Payments for fixed obligations to investor			$ 15,000	$ 15,000
Variable payments to investor		$ 9,300
Fixed payment arrangement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments for fixed obligations to investor	$ 2,800
Contractual obligation	$ 3,000						$ 500
Number of quarters in remaining fixed obligation to be paid | item	6

Fair Value Considerations - F_2

Fair Value Considerations - Financial Liabilities Accounted for at Fair Value on a Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Fair Value Considerations
Total	$ 9,458	$ 13,512
Level 3
Fair Value Considerations
Total	9,458	13,512
Fixed Payment Arrangements
Fair Value Considerations
Total	9,458	13,512
Fixed Payment Arrangements | Level 3
Fair Value Considerations
Total	$ 9,458	$ 13,512

Fair Value Considerations - Sum

Fair Value Considerations - Summary of changes Using Level 3 Inputs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Contingent Value Rights
Fair Value Considerations
Beginning balance	$ 5,572
Included in earnings	(3,177)	$ 523
Purchases		7,049
Settlements	(1,000)	(2,000)
Ending balance	1,395	5,572
Contingent Consideration
Fair Value Considerations
Beginning balance	13,588	23,326
Included in earnings	(848)	(9,741)
Purchases		183
Settlements	(683)	(180)
Ending balance	12,057	13,588
Fixed Payment Arrangements
Fair Value Considerations
Beginning balance	13,512
Included in earnings	2,795	1,452
Issues		29,838
Settlements	(6,849)	(17,778)
Ending balance	$ 9,458	$ 13,512

Fair Value Considerations - Sig

Fair Value Considerations - Significant Assumptions (Details)	Jun. 30, 2021	Jun. 30, 2020
Discounted Cash Flow | Tuzistra XR | Leveraged Beta
Fair Value Considerations
Contingent consideration, measurement input		0.36
Discounted Cash Flow | Tuzistra XR | Market risk premium
Fair Value Considerations
Contingent consideration, measurement input		0.0600
Discounted Cash Flow | Tuzistra XR | Risk-free interest rate
Fair Value Considerations
Contingent consideration, measurement input		0.0300
Discounted Cash Flow | Tuzistra XR | Discount
Fair Value Considerations
Contingent consideration, measurement input		0.0520
Discounted Cash Flow | Tuzistra XR | Company specific discount
Fair Value Considerations
Contingent consideration, measurement input		0.1500
Discounted Cash Flow | ZolpiMist | Leveraged Beta
Fair Value Considerations
Contingent consideration, measurement input		1.17
Discounted Cash Flow | ZolpiMist | Market risk premium
Fair Value Considerations
Contingent consideration, measurement input		0.0600
Discounted Cash Flow | ZolpiMist | Risk-free interest rate
Fair Value Considerations
Contingent consideration, measurement input		0.0300
Discounted Cash Flow | ZolpiMist | Discount
Fair Value Considerations
Contingent consideration, measurement input		0.0520
Discounted Cash Flow | ZolpiMist | Company specific discount
Fair Value Considerations
Contingent consideration, measurement input		0.0500
Scenario Based | Tuzistra XR | Leveraged Beta
Fair Value Considerations
Contingent consideration, measurement input	0.68
Scenario Based | Tuzistra XR | Market risk premium
Fair Value Considerations
Contingent consideration, measurement input	0.0600
Scenario Based | Tuzistra XR | Risk-free interest rate
Fair Value Considerations
Contingent consideration, measurement input	0.0190
Scenario Based | Tuzistra XR | Discount
Fair Value Considerations
Contingent consideration, measurement input	0.1530
Scenario Based | Tuzistra XR | Company specific discount
Fair Value Considerations
Contingent consideration, measurement input	0.1500
Monte carlo Mode | ZolpiMist | Leveraged Beta
Fair Value Considerations
Contingent consideration, measurement input	1.09
Monte carlo Mode | ZolpiMist | Market risk premium
Fair Value Considerations
Contingent consideration, measurement input	0.0600
Monte carlo Mode | ZolpiMist | Risk-free interest rate
Fair Value Considerations
Contingent consideration, measurement input	0.0070
Monte carlo Mode | ZolpiMist | Discount
Fair Value Considerations
Contingent consideration, measurement input	0.1030
Monte carlo Mode | ZolpiMist | Company specific discount
Fair Value Considerations
Contingent consideration, measurement input	0.1500
Contingent Value Rights | Monte carlo Mode | Leveraged Beta
Fair Value Considerations
Contingent value rights, measurement input	0.91	0.88
Contingent Value Rights | Monte carlo Mode | Market risk premium
Fair Value Considerations
Contingent value rights, measurement input	0.0600	0.0617
Contingent Value Rights | Monte carlo Mode | Risk-free interest rate
Fair Value Considerations
Contingent value rights, measurement input	0.0036	0.0115
Contingent Value Rights | Monte carlo Mode | Discount
Fair Value Considerations
Contingent value rights, measurement input	0.1300	0.3000
Contingent Value Rights | Monte carlo Mode | Company specific discount
Fair Value Considerations
Contingent value rights, measurement input	0.0500	0.2000

Fair Value Considerations - F_3

Fair Value Considerations - Fixed Payment Obligations (Details) - Discounted Cash Flow	Jun. 30, 2021	Jun. 30, 2020
Minimum
Fair Value Considerations
Fixed payment obligations discount rate	10.00%	1.80%
Maximum
Fair Value Considerations
Fixed payment obligations discount rate	12.40%	12.40%

Income Taxes - Provision for in

Income Taxes - Provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
State	$ 16
Total current tax expense	16
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	200
State	43
Total deferred tax expense	243
Provision for income taxes	$ 259	$ 0

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of income tax provision (benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Tax at statutory rate	$ (12,185)	$ (2,934)
State income taxes, net of federal benefit	(2,461)	(798)
Stock based compensation	43	(35)
Contingent consideration	(667)	54
162(m) limitation	235	0
Transaction costs	160	0
Loss on debt extinguishment and interest expense	0	167
Change in valuation allowance	14,483	3,496
Other	651	50
Provision for income taxes	$ 259	$ 0
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Benefit at statutory rate, percentage	(21.00%)	(21.00%)
State income taxes, net of federal benefit, percentage	(4.24%)	(5.71%)
Stock based compensation, percentage	0.07%	(0.25%)
Contingent consideration, percentage	(1.15%)	0.39%
162(m) limitation, percentage	0.40%	0.00%
Transaction costs, percentage	0.28%	0.00%
Loss on debt extinguishment and interest expense, percentage	0.00%	1.20%
Change in valuation allowance, percentage	24.96%	25.02%
Other, percentage	1.13%	0.35%
Net income tax provision (benefit), percentage	0.45%	0.00%

Income Taxes - Deferred tax ass

Income Taxes - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Deferred tax assets:
Net operating loss carry forward	$ 106,712	$ 37,191
Accrued Rebates	8,412
Share-based compensation	2,330	1,891
Accrued expenses	1,507	855
R&D credits	2,115	9
Interest	2,064
Inventory	1,704	789
Lease liability	1,031	261
Other	1,526	358
Total deferred tax assets	127,401	41,354
Less: valuation allowance	(116,494)	(39,552)
Deferred tax assets, net of valuation allowance	10,907	1,802
Deferred tax liabilities:
Intangibles	(9,396)	(1,578)
ROU asset	(1,009)	(224)
Fixed assets	(745)
Total deferred tax liabilities	(11,150)	$ (1,802)
Net deferred tax liabilities	$ (243)

Income Taxes - Valuation allowa

Income Taxes - Valuation allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Deferred Tax Assets, Net of Valuation Allowance [Abstract]
Valuation allowance	$ 116,494	$ 39,552
Neos Therapeutics, Inc.
Deferred Tax Assets, Net of Valuation Allowance [Abstract]
Valuation allowance, increase (decrease), amount	$ 62,500

Income Taxes - Operating loss c

Income Taxes - Operating loss carry forwards (Details) - Federal - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020
Operating Loss Carryforwards [Line Items]
Net operating losses	$ 466.7	$ 147
Operating loss carryforwards not subject to expiration	$ 130.4

Income Taxes - Tax credit carry

Income Taxes - Tax credit carry forwards (Details) $ in Millions	Jun. 30, 2021USD ($)
Research Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carry forward	$ 2.7

Income Taxes - Unrecognized tax

Income Taxes - Unrecognized tax benefits - General information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Income Taxes
Unrecognized tax benefits	$ 11,537	$ 0

Income Taxes - Unrecognized t_2

Income Taxes - Unrecognized tax benefits - Roll forward (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 0
Increase resulting from prior period tax positions	12,017
Increase resulting from current period tax positions	2
Decrease resulting from current period tax positions	(482)
Ending balance	$ 11,537

Capital Structure - Narrative (

Capital Structure - Narrative (Details)	Jun. 02, 2021USD ($)shares	Mar. 20, 2021USD ($)shares	Mar. 19, 2021shares	Dec. 10, 2020USD ($)$ / sharesshares	Dec. 08, 2020shares	Oct. 18, 2020$ / shares	May 11, 2020itemshares	Apr. 27, 2020itemshares	Mar. 31, 2020USD ($)shares	Oct. 31, 2020$ / shares	Jul. 31, 2020USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	May 31, 2020USD ($)shares	Apr. 30, 2020USD ($)itemshares	Mar. 31, 2020USD ($)shares	Feb. 29, 2020shares	Oct. 31, 2019shares	Oct. 31, 2018$ / sharesshares	Jun. 02, 2021USD ($)	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 04, 2021USD ($)	Jun. 08, 2020USD ($)	Mar. 19, 2020	Mar. 12, 2020	Mar. 10, 2020$ / shares	Sep. 30, 2019shares
Capital Structure
Common stock, shares authorized												200,000,000								200,000,000	200,000,000
Common stock, par value | $ / shares												$ 0.0001								$ 0.0001	$ 0.0001
Preferred stock, shares authorized												50,000,000								50,000,000	50,000,000
Preferred stock, par value | $ / shares												$ 0.0001								$ 0.0001	$ 0.0001
Preferred stock, shares outstanding					0							0								0	0
Offering costs | $																				$ 4,903,000	$ 5,404,000
Exercise price of warrants (in dollars per share) | $ / shares						$ 15				$ 15
Warrants outstanding term																								5 years	5 years	5 years
Number of shares exchange for the notes							30,835	153,370
Proceeds from issuance of stock | $																				45,051,000	65,730,000
Issuance of stock for business acquisition, net of issuance costs (in shares)													8,967			380,971
Number of shares issued to contingent value rights share holders									123,820
Contingent value rights amount | $									$ 2,000,000
First milestone | $									$ 24,000,000						$ 24,000,000
Number of notes held | item							2	4
Number of notes converted | item							2	4
Issuance of common stock to consultants (in shares)														16,500
Number of shares issued to board members | item														3
Warrants exercised														598,200	598,200			419,160
Warrant exercises | $														$ 9,000,000	$ 9,000,000					$ 0	$ 26,992,000
Issuance of Series H preferred stock and common stock due to acquisition of Innovus, amount | $													$ 150,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares																		$ 15								$ 14.375
Common stock, shares issued												12,583,736								27,490,412	12,583,736
Common stock, shares outstanding												12,583,736								27,490,412	12,583,736
Preferred stock, shares issued					0							0								0	0
Shares issued for former employee upon termination												3,271
Series C Preferred Stock
Capital Structure
Preferred stock, shares outstanding																											0
Series F Convertible Preferred Stock
Capital Structure
Preferred stock, shares outstanding												0									0
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares															10,000		10,000
Reverse Stock Split
Capital Structure
Stock split, conversion ratio					10
Neos Therapeutics, Inc.
Capital Structure
Issuance of stock for business acquisition, net of issuance costs (in shares)			5,447,000
Innovus
Capital Structure
Number of shares issued to contingent value rights share holders		103,190							123,820
Contingent value rights amount | $		$ 1,000,000							$ 2,000,000
First milestone | $									$ 24,000,000						$ 24,000,000
Second milestone | $		$ 30,000,000
Wainwright
Capital Structure
Common stock, par value | $ / shares				$ 0.0001
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares				4,791,667
Issuance of preferred, common stock and warrants, net of cash issuance costs, amount | $				$ 28,800,000
Offering costs | $				$ 2,600,000
Number of shares issued in commitment offering (in shares)				4,166,667
Shares issued, price per share (in dollars per share) | $ / shares				$ 6
Additional shares issued on offering (in shares)				625,000
Proceeds from issuance of stock | $				$ 26,200,000
Former Neos Directors And Officers | Neos Therapeutics, Inc.
Capital Structure
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares)			24,804
Conversion of Debt to Common Stock
Capital Structure
Debt conversion amount | $				$ 800,000
Number of shares exchange for the notes				130,081
Warrants Issued in Connection with March Offerings
Capital Structure
Warrants issued, number of warrants (in shares)											92,302
Exercise price of warrants (in dollars per share) | $ / shares											$ 15.99
Warrants outstanding term											1 year
Warrants outstanding | $											$ 100,000
Warrants Issued in Connection With Wainwright Offering
Capital Structure
Warrants issued, number of warrants (in shares)				311,458
Number of warrants issued to purchase shares (in shares)				311,458
Exercise price of warrants (in dollars per share) | $ / shares				$ 7.50
Warrants outstanding term				5 years
Warrants outstanding | $				$ 1,300,000
Percentage of exercise price of shares sold in offering				125.00%
Shelf Registration 2020
Capital Structure
Shelf registration, amount authorized | $																							$ 100,000,000
At-the-market Offering | Jefferies, LLC
Capital Structure
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares	352,912											430,230
Issuance of preferred, common stock and warrants, net of cash issuance costs, amount | $	$ 3,600,000											$ 6,800,000
Offering costs | $												$ 1,900,000							$ 200,000
At-the-market Offering | Cantor Fitzgerald & Co
Capital Structure
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares																				2,310,400
Issuance of preferred, common stock and warrants, net of cash issuance costs, amount | $																				$ 12,700,000
Offering costs | $																				$ 500,000
Sales agreement, amount authorized for issuance | $																						$ 30,000,000
The March Offerings | Warrants Issued in Connection with March Offerings
Capital Structure
Warrants issued, number of warrants (in shares)											92,302
Number of warrants issued to purchase shares (in shares)											92,302
Exercise price of warrants (in dollars per share) | $ / shares											$ 15.99
Warrants outstanding term											1 year
Warrants outstanding | $											$ 400,000
Restricted Stock
Capital Structure
Common stock, shares outstanding																				1,958,876

Capital Structure - Preferred s

Capital Structure - Preferred stocks conversion (Details)	1 Months Ended
	May 31, 2020shares	Mar. 31, 2020USD ($)$ / sharesshares	Feb. 29, 2020shares	Nov. 30, 2019shares	Oct. 31, 2019$ / sharesshares	Sep. 30, 2019shares	Jun. 30, 2021shares	Dec. 08, 2020shares	Jun. 30, 2020shares
Issuance of stock for business acquisition, net of issuance costs (in shares)	8,967		380,971
Preferred stock, shares outstanding							0	0	0
Series C Preferred Stock
Conversion of stock, Shares converted						443,833
Conversion of stock, Shares issued						44,383
Preferred stock, shares outstanding						0
Series D Convertible Preferred Stock
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares		400,000
Conversion of stock, Shares converted		40,000
Preferred stock, shares outstanding									0
Series E Convertible Preferred Stock
Conversion of stock, Shares converted					2,751,148
Conversion of stock, Shares issued					275,115
Preferred stock, shares outstanding					0
Series F Convertible Preferred Stock
Per share face value		1,000			1,000
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares		10,000			10,000
Conversion of stock, Shares converted		1,000,000
Preferred stock, Conversion price | $ / shares		$ 1			$ 1
Preferred stock, shares outstanding									0
Series G Convertible Preferred Stock
Issuance of preferred, common stock and warrants, net of cash issuance costs, shares				9,805,845
Conversion of stock, Shares issued				980,585
Series H Convertible Preferred Stock
Issuance of stock for business acquisition, net of issuance costs (in shares)			1,997,902
Conversion of stock, Shares converted			1,997,902
Conversion of stock, Shares issued			199,774

Capital Structure - Cashless wa

Capital Structure - Cashless warrants (Details) - USD ($) $ / shares in Units, $ in Thousands

Oct. 18, 2020

Mar. 11, 2020

Oct. 31, 2019

Oct. 31, 2020

Apr. 30, 2020

Mar. 31, 2020

Oct. 31, 2019

Oct. 31, 2018

Mar. 31, 2020

Jun. 30, 2021

Jun. 30, 2020

Mar. 19, 2020

Mar. 12, 2020

Mar. 10, 2020

Dec. 31, 2019

Exercise price of warrants (in dollars per share)

$ 15

$ 15

Warrants outstanding term

5 years

5 years

5 years

Exercise price of warrants (in dollars per share)

$ 15

$ 14.375

Warrants exercised

598,200

598,200

419,160

Warrant exercises

$ 9,000

$ 9,000

$ 0

$ 26,992

Cashless Warrants

Warrants outstanding term

5 years

5 years

Outstanding warrants

0

0

0

Exercise price of warrants (in dollars per share)

$ 12.50

$ 12.50

$ 0

Warrants exercised

291,577

500,000

500,000

Warrants issued shares

1,000,000

Cashless Warrants | Series F Convertible Preferred Stock

Warrants issued shares

1,000,000

Capital Structure - March Offer

Capital Structure - March Offerings (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 19, 2020	Mar. 12, 2020	Mar. 10, 2020	Apr. 30, 2020	Mar. 31, 2020	Oct. 31, 2018	Jun. 30, 2021	Jun. 30, 2020
Capital Structure
Exercise price of warrants (in dollars per share)			$ 14.375			$ 15
Proceeds from Issuance of Common Stock							$ 45,051	$ 65,730
Warrants outstanding term	5 years	5 years	5 years
Warrants exercised				598,200	598,200	419,160
Number of warrants expired		300,000
Effective price paid per share in agreement (in dollars per share)			$ 0.001
Warrant exercises				$ 9,000	$ 9,000		$ 0	$ 26,992
March 19, 2020 Placement Agent Warrants
Capital Structure
Exercise price of warrants (in dollars per share)	$ 19.938
Warrants outstanding term	1 year
Warrants issued shares	81,505
Warrants exercised	120,000
Number of warrants expired	1,133,920
Warrant exercises	$ 1,700
March 12, 2020 Placement Agent Warrants
Capital Structure
Exercise price of warrants (in dollars per share)		$ 15.625
Warrants outstanding term		1 year
Warrants issued shares		104,000
Warrants exercised		1,300,000
Warrant exercises		$ 16,300
Pre Funded Warrants
Capital Structure
Shares authorized for issuance in agreement			445,000
Share price			$ 11.50
Number of warrants issued to purchase shares (in shares)			337,607
Exercise price of warrants (in dollars per share)			$ 11.50
Proceeds from Issuance of Common Stock			$ 9,000
Warrants issued shares			50,870
Effective price paid per share in agreement (in dollars per share)			$ 11.499
October 18, 15 Dollars Warrants
Capital Structure
Exercise price of warrants (in dollars per share)			$ 15
Warrants exercised			598,200
Number of warrants expired			419,160
Warrant exercises			$ 9,000
March 19, 2020 Offerings
Capital Structure
Shares authorized for issuance in agreement	1,253,920
Share price	$ 15.95
Number of warrants issued to purchase shares (in shares)	1,253,920
Exercise price of warrants (in dollars per share)	$ 14.70
Proceeds from Issuance of Common Stock	$ 20,000
March 12, 2020 Offerings
Capital Structure
Shares authorized for issuance in agreement		1,600,000
Share price		$ 12.50
Number of warrants issued to purchase shares (in shares)		1,600,000
Exercise price of warrants (in dollars per share)		$ 12.50
Proceeds from Issuance of Common Stock		$ 20,000

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 16, 2021	Apr. 12, 2021	Apr. 08, 2021	Mar. 31, 2021	Mar. 19, 2021	Jun. 30, 2021	Jun. 30, 2020	Apr. 19, 2021	Feb. 13, 2020	Jul. 31, 2017
Equity Incentive Plan
Options, Grants in period, Gross (in shares)						69,721
Share-based Payment Arrangement, Expense						$ 3,574	$ 1,079
Weighted-average grant date fair value of options granted						$ 3.81	$ 9.68
Employee unvested restricted stock
Equity Incentive Plan
RSU Grants in period (in shares)						103,728
unrecognized compensation costs, period for recognition (in Years)						2 years 3 months 18 days
unrecognized compensation costs excluding options						$ 500
Granted, weighted average grant date fair value (in dollars per share)						$ 6.96
Employee stock options
Equity Incentive Plan
Options, Grants in period, Gross (in shares)						69,721	76,950
Unrecognized compensation costs						$ 400
unrecognized compensation costs, period for recognition (in Years)						4 years 10 months 24 days
Share-based Payment Arrangement, Expense						$ 400	$ 100
Restricted Stock
Equity Incentive Plan
RSU Grants in period (in shares)						1,697,416	195,292
unrecognized compensation costs, period for recognition (in Years)						3 years 7 months 6 days
unrecognized compensation costs excluding options						$ 13,400
Granted, weighted average grant date fair value (in dollars per share)						$ 6.52	$ 10.60
Share-based Payment Arrangement, Expense						$ 3,200	$ 1,000
Aytu 2015 Plan
Equity Incentive Plan
Number of shares authorized (in shares)									5,000,000	3,000,000
Number of shares available for grant (in shares)						2,937,710
Options, Grants in period, Gross (in shares)						0
Aytu 2015 Plan | Employee unvested restricted stock
Equity Incentive Plan
RSU Grants in period (in shares)			13,000	55,000
Granted, weighted average grant date fair value (in dollars per share)			$ 7.17	$ 7.60
Vesting period			1 year			4 years
Aytu 2015 Plan | Employee unvested restricted stock | Director
Equity Incentive Plan
RSU Grants in period (in shares)			13,000
Aytu 2015 Plan | Employee stock options
Equity Incentive Plan
Term of award						10 years
Aytu 2015 Plan | Restricted Stock
Equity Incentive Plan
RSU Grants in period (in shares)	1,551,216	146,200
Granted, weighted average grant date fair value (in dollars per share)	$ 6.49	$ 6.84
Aytu 2015 Plan | Maximum | Employee stock options
Equity Incentive Plan
Vesting period						4 years
Aytu 2015 Plan | Maximum | Restricted Stock
Equity Incentive Plan
Vesting period						10 years
Aytu 2015 Plan | Minimum | Employee stock options
Equity Incentive Plan
Vesting period						3 years
Aytu 2015 Plan | Minimum | Restricted Stock
Equity Incentive Plan
Vesting period						4 years
Neos 2015 Plan
Equity Incentive Plan
Number of shares available for grant (in shares)						1,271,657		105,449
Options, Grants in period, Gross (in shares)						69,721
Neos 2015 Plan | Employee unvested restricted stock
Equity Incentive Plan
Non-option equity instruments, Granted (in shares)					35,728	35,728
Neos 2015 Plan | Employee stock options
Equity Incentive Plan
Term of award						10 years
Neos 2015 Plan | Maximum | Employee unvested restricted stock
Equity Incentive Plan
Vesting period						4 years
Neos 2015 Plan | Maximum | Employee stock options
Equity Incentive Plan
Vesting period						4 years
Neos 2015 Plan | Minimum | Employee unvested restricted stock
Equity Incentive Plan
Vesting period						2 years
Neos 2015 Plan | Minimum | Employee stock options
Equity Incentive Plan
Vesting period						1 year
Non-plan | Restricted Stock
Equity Incentive Plan
unrecognized compensation costs, period for recognition (in Years)						5 years 7 days
unrecognized compensation costs excluding options						$ 1,000
Number of shares outstanding						158
Legacy Neos Plan
Equity Incentive Plan
Number of shares available for grant (in shares)								1,255,310

Equity Incentive Plan - Assumpt

Equity Incentive Plan - Assumptions (Details) - Employee stock options	12 Months Ended
	Jun. 30, 2021
Equity Incentive Plan
Expected volatility	100.00%
Expected term (years)	5 years
Risk-free interest rate	0.90%
Dividend yield	0.00%

Equity Incentive Plan - Stock O

Equity Incentive Plan - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Equity Incentive Plan
Granted	69,721
Employee stock options
Equity Incentive Plan
Number of options outstanding, beginning balance	76,614	188
Granted	69,721	76,950
Exercised		(500)
Forfeited/cancelled	(33,380)
Expired	(3,367)	(24)
Number of options outstanding, ending balance	109,588	76,614	188
Number of options exercisable	54,539
Weighted average exercise price outstanding, beginning balance	$ 19.39	$ 3,259.57
Granted	6.35	12.42
Exercised		9.70
Forfeited/cancelled	8.61
Expired	14.77	3,280
Weighted average exercise price outstanding, ending balance	14.52	$ 19.39	$ 3,259.57
Weighted average exercise price exercisable	$ 20.92
Outstanding, weighted average remaining contractual life (Year)	8 years 25 days	9 years 8 months 1 day	6 years 11 months 12 days
Weighted average remaining contractual life in years exercisable	7 years 7 months 20 days

Equity Incentive Plan - Range o

Equity Incentive Plan - Range of Exercise Prices (Details)	12 Months Ended
	Jun. 30, 2021$ / sharesshares
Equity Incentive Plan
Weighted average exercise price	$ 14.52
Weighted average remaining contractual life of options outstanding	8 years 2 months 15 days
Weighted average exercise price	$ 20.92
Exercise Price Range 1
Equity Incentive Plan
Number of options outstanding | shares	58,316
Weighted average exercise price	$ 6.41
Weighted average remaining contractual life of options outstanding	8 years 3 months 29 days
Number of options exercisable | shares	16,970
Weighted average exercise price	$ 6.51
Exercise Price Range 1 | Minimum
Equity Incentive Plan
Range of exercise prices	6.2
Exercise Price Range 1 | Maximum
Equity Incentive Plan
Range of exercise prices	$ 9.70
Exercise Price Range 2
Equity Incentive Plan
Number of options outstanding | shares	51,114
Weighted average exercise price	$ 13.75
Weighted average remaining contractual life of options outstanding	8 years 29 days
Number of options exercisable | shares	37,411
Weighted average exercise price	$ 13.79
Exercise Price Range 2 | Minimum
Equity Incentive Plan
Range of exercise prices	9.80
Exercise Price Range 2 | Maximum
Equity Incentive Plan
Range of exercise prices	$ 14.70
Exercise Price Range 3
Equity Incentive Plan
Number of options outstanding | shares	158
Weighted average exercise price	$ 3,255.70
Weighted average remaining contractual life of options outstanding	4 years 9 months 18 days
Number of options exercisable | shares	158
Weighted average exercise price	$ 3,255.70
Exercise Price Range 3 | Minimum
Equity Incentive Plan
Range of exercise prices	2,800
Exercise Price Range 3 | Maximum
Equity Incentive Plan
Range of exercise prices	$ 4,200
Employee stock options
Equity Incentive Plan
Number of options outstanding | shares	109,588
Number of options exercisable | shares	54,539

Equity Incentive Plan - Restric

Equity Incentive Plan - Restricted Stock Activity (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 16, 2021	Apr. 12, 2021	Apr. 08, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Restricted Stock
Equity Incentive Plan
Number of unvested restricted stock outstanding, beginning balance						418,454	234,623
Granted						1,697,416	195,292
Vested						(160,602)	0
Forfeited							(11,461)
Number of unvested restricted stock outstanding, ending balance					1,955,268	1,955,268	418,454
Unvested weighted average grant date fair value outstanding, beginning balance						$ 14.69	$ 18.30
Granted, weighted average grant date fair value (in dollars per share)						6.52	10.60
Vested						11.75	0
Forfeited							17.90
Unvested, weighted average grant date fair value (in dollars per share)					$ 7.83	$ 7.83	$ 14.69
Total fair value						$ 1.1
Employee unvested restricted stock
Equity Incentive Plan
Granted						103,728
Vested					(9,962)	(9,962)
Forfeited						(15,448)
Number of unvested restricted stock outstanding, ending balance					78,318	78,318
Granted, weighted average grant date fair value (in dollars per share)						$ 6.96
Vested						4.99
Forfeited						7
Unvested, weighted average grant date fair value (in dollars per share)					$ 7.20	$ 7.20
Total fair value						$ 0.1
Aytu 2015 Plan | Restricted Stock
Equity Incentive Plan
Granted	1,551,216	146,200
Granted, weighted average grant date fair value (in dollars per share)	$ 6.49	$ 6.84
Aytu 2015 Plan | Restricted Stock | Tranche One | Director
Equity Incentive Plan
Vesting percentage	33.33%
Aytu 2015 Plan | Restricted Stock | Tranche One | Employee
Equity Incentive Plan
Vesting percentage		25.00%
Aytu 2015 Plan | Restricted Stock | Tranche Two | Director
Equity Incentive Plan
Vesting percentage	8.33%
Aytu 2015 Plan | Restricted Stock | Tranche Two | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Three | Director
Equity Incentive Plan
Vesting percentage	8.33%
Aytu 2015 Plan | Restricted Stock | Tranche Three | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Four | Director
Equity Incentive Plan
Vesting percentage	8.33%
Aytu 2015 Plan | Restricted Stock | Tranche Four | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Five | Director
Equity Incentive Plan
Vesting percentage	8.33%
Aytu 2015 Plan | Restricted Stock | Tranche Five | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Six | Director
Equity Incentive Plan
Vesting percentage	8.33%
Aytu 2015 Plan | Restricted Stock | Tranche Six | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Seven | Director
Equity Incentive Plan
Vesting percentage	8.33%
Aytu 2015 Plan | Restricted Stock | Tranche Seven | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Eight | Director
Equity Incentive Plan
Vesting percentage	8.33%
Aytu 2015 Plan | Restricted Stock | Tranche Eight | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Nine | Director
Equity Incentive Plan
Vesting percentage	8.33%
Aytu 2015 Plan | Restricted Stock | Tranche Nine | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Ten | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Eleven | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Twelve | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Restricted Stock | Tranche Thirteen | Employee
Equity Incentive Plan
Vesting percentage		6.25%
Aytu 2015 Plan | Employee unvested restricted stock
Equity Incentive Plan
Granted			13,000	55,000
Granted, weighted average grant date fair value (in dollars per share)			$ 7.17	$ 7.60
Aytu 2015 Plan | Employee unvested restricted stock | Director
Equity Incentive Plan
Granted			13,000

Equity Incentive Plan - Restr_2

Equity Incentive Plan - Restricted Stock Unit Activity (Details) - Employee unvested restricted stock - USD ($) $ / shares in Units, $ in Millions	Apr. 08, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2021
Equity Incentive Plan
Granted				103,728
Vested			(9,962)	(9,962)
Forfeited				(15,448)
Number of unvested restricted stock outstanding, ending balance			78,318	78,318
Granted, weighted average grant date fair value (in dollars per share)				$ 6.96
Vested				$ 4.99
Total fair value				$ 0.1
Unvested, weighted average grant date fair value (in dollars per share)			$ 7.20	$ 7.20
Aytu 2015 Plan
Equity Incentive Plan
Granted	13,000	55,000
Granted, weighted average grant date fair value (in dollars per share)	$ 7.17	$ 7.60
Aytu 2015 Plan | Director
Equity Incentive Plan
Granted	13,000
Aytu 2015 Plan | Management | Tranche One
Equity Incentive Plan
Vesting percentage		33.33%
Aytu 2015 Plan | Management | Tranche Two
Equity Incentive Plan
Vesting percentage		8.33%
Aytu 2015 Plan | Management | Tranche Three
Equity Incentive Plan
Vesting percentage		8.33%
Aytu 2015 Plan | Management | Tranche Four
Equity Incentive Plan
Vesting percentage		8.33%
Aytu 2015 Plan | Management | Tranche Five
Equity Incentive Plan
Vesting percentage		8.33%
Aytu 2015 Plan | Management | Tranche Six
Equity Incentive Plan
Vesting percentage		8.33%
Aytu 2015 Plan | Management | Tranche Seven
Equity Incentive Plan
Vesting percentage		8.33%
Aytu 2015 Plan | Management | Tranche Eight
Equity Incentive Plan
Vesting percentage		8.33%
Aytu 2015 Plan | Management | Tranche Nine
Equity Incentive Plan
Vesting percentage		8.33%

Equity Incentive Plan - Stock-b

Equity Incentive Plan - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Equity Incentive Plan
Total share-based compensation expense	$ 3,574	$ 1,079
Total recognized tax benefit from stock-based compensation	1,200	400
Cost of sales.
Equity Incentive Plan
Total share-based compensation expense	16
Research and development
Equity Incentive Plan
Total share-based compensation expense	68
Selling and Marketing
Equity Incentive Plan
Total share-based compensation expense	27
General and Administrative
Equity Incentive Plan
Total share-based compensation expense	$ 3,463	$ 1,079

Warrants - Narrative (Details)

Warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 15, 2020	Oct. 18, 2020	Oct. 31, 2020	Jul. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 19, 2020	Mar. 12, 2020	Mar. 10, 2020	Oct. 31, 2018
Warrants
Exercise price of warrants (in dollars per share)		$ 15	$ 15
Warrants and Rights Outstanding, Term (Year)							5 years	5 years	5 years
Exercise price of warrants (in dollars per share)									$ 14.375	$ 15
Warrants Issued in Connection with March Offerings
Warrants
Class of Warrant or Right, Issued During Period (in shares)				92,302
Exercise price of warrants (in dollars per share)				$ 15.99
Warrants and Rights Outstanding, Term (Year)				1 year
Warrants outstanding				$ 0.1
December 15, 2020 Offering
Warrants
Class of Warrant or Right, Issued During Period (in shares)	311,458
Exercise price of warrants (in dollars per share)	$ 7.50
Warrants and Rights Outstanding, Term (Year)	5 years
Warrants outstanding	$ 1.3
Liability Warrants
Warrants
Outstanding warrants					24,105	24,105
Other Warrants Expired
Warrants
Warrants expired					3,416
Weighted Average | Liability Warrants
Warrants
Exercise price of warrants (in dollars per share)					$ 720	$ 720

Warrants - Summary of Equity-ba

Warrants - Summary of Equity-based Warrants (Details) - Equity Warrants - $ / shares	Mar. 19, 2021	Mar. 11, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Warrants
Outstanding, number of warrants (in shares)			2,288,528	1,621,938
Warrants issued, number of warrants (in shares)			403,760	4,462,740
Warrants expired, number of warrants (in shares)	1,133,920	300,000	(1,437,336)
Warrants exercised (in shares)				(3,796,150)
Outstanding, number of warrants (in shares)			1,254,952	2,288,528	1,621,938
Outstanding, weighted average remaining contractual life (Year)			2 years 9 months 29 days	2 years	4 years 4 months 9 days
Weighted Average
Warrants
Outstanding, weighted average exercise price (in dollars per share)			$ 30.26	$ 31.50
Outstanding, number of warrants (in shares)			0
Weighted average exercise price (in dollars per share)				12
Outstanding, weighted average exercise price (in dollars per share)			$ 35.85	$ 30.26	$ 31.50
Expired	$ 14.70	$ 12.5

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Employee Benefit Plan
Percentage employer matches of employee's contribution	50.00%
Percentage of employees' salary with employer matching contribution	6.00%
Employee benefit plan contribution	$ 0.3	$ 0.2

Commitments and Contingencies -

Commitments and Contingencies - Description and summarization table (Details) $ in Thousands	Jun. 30, 2021USD ($)
Commitments and Contingencies
2022	$ 12,296
2023	8,344
2024	7,363
2025	2,241
2026	760
Thereafter	2,185
Total	33,189
Prescription Database
Commitments and Contingencies
2022	905
2023	0
2024	0
2025	0
2026	0
Thereafter	0
Total	905
Pediatric Portfolio Fixed Payments and Product Minimums
Commitments and Contingencies
2022	4,100
2023	3,100
2024	2,100
2025	2,100
2026	175
Total	11,575
Inventory Purchase Commitment
Commitments and Contingencies
2022	1,472
2023	0
2024	0
2025	0
2026	0
Thereafter	0
Total	1,472
Contingent Value Rights
Commitments and Contingencies
2022	2,000
2023	5,000
2024	5,000
2025	0
2026	0
Thereafter	0
Total	12,000
Product Contingent Liability
Commitments and Contingencies
2022	50
2023	0
2024	50
2025	0
2026	550
Thereafter	2,050
Total	2,700
Product Milestone Payments
Commitments and Contingencies
2022	3,000
2023	0
2024	0
2025	0
2026	0
Thereafter	0
Total	3,000
Rumpus Earn Out Payments
Commitments and Contingencies
2022	580
2023	32
2024	35
2025	35
2026	35
Thereafter	135
Total	852
Other Commitments
Commitments and Contingencies
2022	189
2023	212
2024	178
2025	106
Total	$ 685

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details)

Jun. 21, 2021USD ($)

Apr. 12, 2021USD ($)

Mar. 20, 2021USD ($)shares

May 29, 2020USD ($)

Mar. 31, 2020USD ($)shares

Aug. 31, 2021USD ($)

May 31, 2021USD ($)ft²

May 31, 2016USD ($)

Jun. 30, 2021USD ($)

Jun. 30, 2020USD ($)

Jul. 31, 2021USD ($)

May 01, 2020USD ($)

Feb. 14, 2020USD ($)

Jan. 31, 2020USD ($)

Nov. 01, 2019USD ($)

Feb. 28, 2015USD ($)payment

Commitments and Contingencies

Number of shares issued to contingent value rights share holders | shares

123,820

Contingent value rights amount

$ 2,000,000

First milestone

$ 24,000,000

Contingent consideration

$ 9,500,000

Contractual obligation

$ 33,189,000

Other Commitments

Commitments and Contingencies

Area of property leased | ft²

6,352

Percentage of annual increase in base rent

2.50%

Initial monthly base rent

$ 14,300

Karbinal Agreement

Commitments and Contingencies

Supply and distribution commitment, period (in Years)

20 years

Percentage of net sales on royalty

23.50%

Maximum yearly make-whole payment

$ 2,100,000

Minimum sales per year

70,000

Tris Pharma, Inc.

Commitments and Contingencies

Minimum sales per year

70,000

Make-whole payment per unit for sales under minimum

$ 30

The Pediatric Portfolio

Commitments and Contingencies

Minimum annual royalties

$ 2,100,000

The Pediatric Portfolio | Karbinal Agreement

Commitments and Contingencies

Maximum milestone obligations

$ 3,000,000

First milestone, minimum net revenues

$ 40,000,000

Innovus

Commitments and Contingencies

Number of shares issued to contingent value rights share holders | shares

103,190

123,820

Contingent value rights amount

$ 1,000,000

$ 2,000,000

First milestone

$ 24,000,000

Second milestone

$ 30,000,000

Milestone not met during the year

1,000,000

Number of Payments | payment

5

Total milestone payments

$ 500,000

Contingent consideration

300,000

$ 200,000

$ 200,000

$ 300,000

Innovus | University of lowa Research Foundation

Commitments and Contingencies

Total milestone payments

200,000

Contingent consideration

100,000

Milestone payment payable

50,000

Prescription Database

Commitments and Contingencies

Payment

$ 1,600,000

Term of payment

3 years

Contractual obligation

905,000

Prescription Database | The Pediatric Portfolio

Commitments and Contingencies

Payment

$ 600,000

First Pediatric Portfolio Fixed Obligation

Commitments and Contingencies

Payment

210,767

Monthly payment

100,000,000

86,840,000

Balloon payment

$ 15,000,000

Payments for fixed obligations to investor

$ 15,000,000

Second Pediatric Portfolio Fixed Obligation

Commitments and Contingencies

Payments for fixed obligations to investor

$ 2,800,000

Repayments of fixed obligation

3,000,000

Loss on early satisfaction of fixed obligation

1,300,000

Inventories. | Hikma Pharmaceuticals USA, Inc.

Commitments and Contingencies

Payment

$ 1,000,000

Product Milestone Payments

Commitments and Contingencies

Contractual obligation

3,000,000

Rumpus Earn Out Payments

Commitments and Contingencies

Contractual obligation

$ 852,000

Over Next Six Quarters Commencing September 30, 2021 | Second Pediatric Portfolio Fixed Obligation

Commitments and Contingencies

Repayments of fixed obligation

$ 500,000

Contingent Value Rights | Innovus

Commitments and Contingencies

Number of shares issued to contingent value rights share holders | shares

103,190

123,820

Contingent value rights amount

$ 1,000,000

$ 2,000,000

First milestone

$ 24,000,000

Second milestone

30,000,000

Milestone not met during the year

$ 1,000,000

Gain (loss) from change in fair value of CVR

$ 300,000

In-process R&D | Rumpus

Commitments and Contingencies

Up-front fee

$ 1,500,000

Payment of aggregated fees

600,000

Contingent consideration

67,500,000

In-process R&D | Maximum | Rumpus

Commitments and Contingencies

Contingent consideration

67,500,000

In-process R&D | Denovo Biopharma L L C | Rumpus

Commitments and Contingencies

Contingent consideration

101,700,000

Annual maintenance fee payable

25,000

License option fee payable

600,000

In-process R&D | Johns Hopkins University | Rumpus

Commitments and Contingencies

Contingent consideration

1,600,000

Minimum annual royalties

$ 5,000

Percentage of revenues on royalty payments

3.00%

In-process R&D | Beginning 2022 | Johns Hopkins University | Rumpus

Commitments and Contingencies

Minimum annual royalties

$ 20,000

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)
Segment Reporting
Number of reportable segments | segment	2
Impairment of intangible assets, finite-lived	$ 12,825	$ 195
Natesto | Licensed assets
Segment Reporting
Impairment of intangible assets, finite-lived	4,300
Aytu Bio Pharma | Natesto | Licensed assets
Segment Reporting
Impairment of intangible assets, finite-lived	$ 12,800

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting
Revenue from contract with customer	$ 65,632	$ 27,632
Net loss	(58,289)	(13,621)
Total assets	265,668	153,293
Goodwill	65,802	28,090
Aytu Bio Pharma
Segment Reporting
Revenue from contract with customer	32,678	17,249
Net loss	(50,529)	(10,464)
Total assets	236,449	126,724
Goodwill	57,165	19,453
Aytu Consumer Health
Segment Reporting
Revenue from contract with customer	32,954	10,383
Net loss	(7,760)	(3,157)
Total assets	29,219	26,569
Goodwill	$ 8,637	$ 8,637

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands

Mar. 19, 2021

Dec. 10, 2020

May 11, 2020

Apr. 27, 2020

Feb. 27, 2020

Jan. 09, 2020

Oct. 02, 2019

May 11, 2016

Jun. 30, 2021

Jun. 30, 2021

Jun. 30, 2020

Mar. 20, 2021

Debt

Number of shares exchange for the notes

30,835

153,370

Unamortized premium

$ 566

$ 566

Deerfield Private Design Fund III LP

Debt

Debt borrowing structure (as a percent)

66.67%

Deerfield Partners

Debt

Debt borrowing structure (as a percent)

33.33%

Neos Therapeutics, Inc. | Loan Agreement

Debt

Maximum borrowing capacity

$ 25,000

Maximum borrowing capacity portion available for short-term swingline loans

$ 2,500

Percentage of eligible accounts receivable against which short-term swingline loans may be made

85.00%

Unused capacity commitment fee percentage

0.50%

Period of notice required before prepaying the debt instrument

5 days

Interest expense

200

Outstanding amount

7,900

7,900

Neos Therapeutics, Inc. | Loan Agreement | Event Occurs On or Before October 2, 2021

Debt

Prepayment fee percentage

1.00%

Neos Therapeutics, Inc. | Loan Agreement | Event Occurs After October 2, 2021 but Before May 11, 2022

Debt

Prepayment fee percentage

0.50%

Neos Therapeutics, Inc. | Loan Agreement | London Interbank Offered Rate (LIBOR)

Debt

Basis spread on variable rate

4.50%

Neos Therapeutics, Inc. | Senior secured credit facility, due on May 11, 2022

Debt

Face amount

$ 60,000

Percentage of prepayment premium on principal prepaid

6.25%

Long-term debt

$ 15,600

Long-term debt current maturities

$ 600

Interest rate

12.95%

Cash on deposit

$ 5,000

Repayments of debt

15,000

Carrying amount of the remaining outstanding debt

16,600

15,000

15,000

Fair value of the remaining outstanding debt

$ 17,400

Non-refundable exit fee

$ 1,000

Unamortized premium

566

566

$ 800

Interest expense

$ 400

Conversion of Debt to Common Stock

Debt

Number of shares exchange for the notes

130,081

Debt conversion amount

$ 800

Non cash loss

300

Notes Payable

Debt

Face amount

$ 800

Proceeds from notes payable

$ 600

Debt instrument term

8 months

Debt discount

$ 200

Amortization

$ 47

$ 100

Notes Payable | Innovus

Debt

Face amount

$ 500

Proceeds from notes payable

$ 400

Debt instrument term

12 months

Required equal monthly payments

$ 45

Long-term debt

$ 200

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 20, 2021	Mar. 19, 2021	Jun. 30, 2020
Debt
Unamortized premium	$ 566
Financing leases, maturing through May 2024	282
Less current portion	(16,668)			$ (982)
Long-term Debt and Lease Obligation	180			$ 0
Senior secured credit facility, due on May 11, 2022 | Neos Therapeutics, Inc.
Debt
Senior secured credit facility, due on May 11, 2022	15,000		$ 16,600
Exit fee	1,000
Unamortized premium	566	$ 800
Financing leases, maturing through May 2024	282
Total debt	16,848
Less current portion	(16,668)
Long-term Debt and Lease Obligation	$ 180

Debt - Long-term Debt Maturitie

Debt - Long-term Debt Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Debt
2022	$ 16,102
2023	96
2024	84
Future principal payments	16,282
Add unamortized premium	566
Less current portion	(16,668)	$ (982)
Long-term Debt and Lease Obligation	$ 180	$ 0

License Agreements (Details)

License Agreements (Details) - USD ($) $ in Millions	Apr. 12, 2021	Apr. 30, 2020	Oct. 31, 2018	Oct. 31, 2017	Feb. 29, 2016	Jun. 30, 2021
License Agreement 2014 | Maximum | Neos Therapeutics, Inc.
Lump sum non-refundable license fee					$ 1
License Agreement 2017 | Maximum | Neos Therapeutics, Inc.
Lump sum non-refundable license fee				$ 1
License Agreement 2014 and 2017 | Neos Therapeutics, Inc.
License agreement term		10 years
License fee		$ 0.3
Patent prosecution fees		0.1
NeuRx License, Royalty Bearing License Agreement
Payments for license agreement			$ 0.2			$ 0.2
Payments for contingent consideration on license agreement		$ 0.3
In-process R&D | Rumpus
Contingent consideration	$ 67.5
Cash transferred	1.5
Payment of aggregated fees	0.6
In-process R&D | Rumpus | Maximum
Contingent consideration	$ 67.5

Related Party Transactions (Det

Related Party Transactions (Details) - Tris Pharma, Inc. - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Tris License Agreement
Related Party Transactions
Payment of karbinal fixed payment obligation		$ 3.2	$ 1.3
Due to related parties		$ 19.7	$ 22.9
Karbinal Fixed Payment Obligation
Related Party Transactions
Payment of karbinal fixed payment obligation	$ 1.6

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - Disposal Group, Disposed of by Sale, Not Discontinued Operations - MiOXSYS $ in Millions	1 Months Ended
	Jul. 31, 2021USD ($)
Subsequent Events
Consideration	$ 0.5
Percentage of royalty payments	5.00%
Royalty payments period	5 years