Aytu BioPharma (AYTU) 10-K 26 Sep 19 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2019	Aug. 31, 2019	Dec. 31, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	AYTU BIOSCIENCE, INC
Entity Central Index Key	0001385818
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	10-K
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Public Float			$ 6,900,000
Entity Common Stock, Shares Outstanding		17,688,071

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Current assets
Cash and cash equivalents	$ 11,044,227	$ 7,012,527
Restricted cash	250,000	100,000
Accounts receivable, net	1,740,787	578,782
Inventory, net	1,440,069	1,338,973
Prepaid expenses and other	957,781	440,009
Total current assets	15,432,864	9,470,291
Fixed assets, net	203,733	218,684
Licensed assets, net	18,861,983	11,120,086
Patents, net	220,611	245,944
Deposits	2,200	5,088
Total long-term assets	19,288,527	11,589,802
Total assets	34,721,391	21,060,093
Current liabilities
Accounts payable and other	2,297,270	2,119,672
Accrued liabilities	1,147,740	185,882
Accrued compensation	849,498	540,674
Current deferred rent	0	1,450
Current contingent consideration	1,078,068	547,100
Total current liabilities	5,372,576	3,394,778
Long-term contingent consideration	22,247,796	4,146,829
Warrant derivative liability	13,201	93,981
Total liabilities	27,633,573	7,635,588
Stockholders' equity
Preferred Stock, par value $.0001; 50,000,000 shares authorized; shares issued and outstanding 3,594,981 and 0, respectively as of June 30, 2019 and 2018	359	0
Common Stock, par value $.0001; 100,000,000 shares authorized; shares issued and outstanding 17,538,071 and 1,794,762, respectively as of June 30, 2019 and 2018	1,754	179
Additional paid-in capital	113,475,205	92,681,918
Accumulated deficit	(106,389,500)	(79,257,592)
Total stockholders' equity	7,087,818	13,424,505
Total liabilities and stockholders' equity	$ 34,721,391	$ 21,060,093

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Jun. 30, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ .0001	$ .0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	3,594,981	0
Preferred stock, shares outstanding	3,594,981	0
Common stock, par value	$ .0001	$ .0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	17,538,071	1,794,762
Common stock, shares outstanding	17,538,071	1,794,762

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Product revenue, net	$ 7,314,581	$ 3,660,120
License revenue, net	5,776	0
Total revenue	7,320,357	3,660,120
Operating expenses
Cost of sales	2,202,041	2,050,544
Research and development	589,072	167,595
Selling, general and administrative	18,887,783	17,732,490
Selling, general and administrative - related party (Note 14)	351,843	0
Impairment of intangible assets	0	1,856,020
Amortization of intangible assets	2,136,255	1,553,705
Total operating expenses	24,166,994	23,360,354
Loss from operations	(16,846,637)	(19,700,234)
Other (expense) income
Other expense, net	(535,500)	(749,423)
(Loss) / gain from change in fair value of contingent consideration	(9,830,550)	6,277,873
Gain from warrant derivative liability	80,779	3,983,921
Total other (expense) income	(10,285,271)	9,512,371
Net loss	$ (27,131,908)	$ (10,187,863)
Weighted average number of common shares outstanding	7,794,489	665,605
Basic and diluted net loss per common share	$ (3.48)	$ (15.31)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, shares at Jun. 30, 2017	0	41,244
Beginning balance, amount at Jun. 30, 2017	$ 0	$ 4	$ 73,069,541	$ (69,069,729)	$ 3,999,816
Stock-based compensation, shares		38,350
Stock-based compensation, amount		$ 4	596,930		596,934
Earn-out payment to Nuelle shareholders, shares		3,208
Earn-out payment to Nuelle shareholders, amount			250,000		250,000
Issuance of preferred and common stock, net of cash issuance costs, shares	113	159,834
Issuance of preferred and common stock, net of cash issuance costs, amount	$ 1	$ 16	6,319,150		6,319,167
Issuance of preferred stock and common stock, net of cash issuance costs, shares	161	1,076,000
Issuance of preferred stock and common stock, net of cash issuance costs, amount	$ 1	$ 108	9,166,316		9,166,425
Warrants issued in connection with registered offering			2,439,360		2,439,360
Preferred stock converted into common stock, shares	(274)	394,839
Preferred stock converted into common stock, amount	$ (2)	$ 39	(37)
S-3 registered offering cost			(60,450)		(60,450)
Warrant exercises, shares		80,750
Warrant exercises, amount		$ 8	677,092		677,100
Issuance of warrants			179,287		179,287
Warrant amendment			4,633		4,633
Warrant exercise of derivative warrants			40,096		40,096
Adjustment for rounding of shares due to stock split, shares		537
Net loss				(10,187,863)	(10,187,863)
Ending balance, shares at Jun. 30, 2018	0	1,794,762
Ending balance, amount at Jun. 30, 2018	$ 0	$ 179	92,681,918	(79,257,592)	13,424,505
Stock-based compensation, shares		2,681,422
Stock-based compensation, amount		$ 270	1,021,931		1,022,201
Common stock issued to employee, shares		9,000
Common stock issued to employee, amount		$ 1	11,689		11,690
Issuance of preferred and common stock, net of cash issuance costs, shares	8,342,993	1,777,007
Issuance of preferred and common stock, net of cash issuance costs, amount	$ 834	$ 178	11,810,373		11,811,385
Issuance of preferred stock and common stock, net of cash issuance costs, shares	400,000
Issuance of preferred stock and common stock, net of cash issuance costs, amount	$ 40		519,560		519,600
Warrants issued in connection with registered offering			1,827,628		1,827,628
Warrants issued in connection with the registered offering to the placement agents, non-cash issuance costs			61,024		61,024
Preferred stock converted into common stock, shares	(7,899,160)	7,899,160
Preferred stock converted into common stock, amount	$ (790)	$ 789	1
Issuance of preferred, common stock related to debt conversion, shares	2,751,148	3,120,064
Issuance of preferred, common stock related to debt conversion, amount	$ 275	$ 312	4,666,897		4,667,484
Warrants issued in connection with debt conversion			499,183		499,183
Warrant exercises, shares		250,007
Warrant exercises, amount		$ 25	375,001		375,026
Adjustment for rounding of shares due to stock split, shares		6,649
Net loss				(27,131,908)	(27,131,908)
Ending balance, shares at Jun. 30, 2019	3,594,981	17,538,071
Ending balance, amount at Jun. 30, 2019	$ 359	$ 1,754	$ 113,475,205	$ (106,389,500)	$ 7,087,818

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net loss	$ (27,131,908)	$ (10,187,863)
Adjustments to reconcile net loss to cash used in operating activities
Depreciation, amortization and accretion	2,727,067	2,591,270
Impairment of intangible assets	0	1,856,020
Stock-based compensation expense	1,022,202	596,934
(Loss) / gain from cahnge in fair value of contingent consideration	9,830,550	(6,277,873)
Warrants issuance and amendments	0	183,920
Issuance of common stock to employee	11,690	0
Derivative income	(80,779)	(3,983,921)
Changes in operating assets and liabilities:
(Increase) in accounts receivable	(1,162,005)	(50,743)
(Increase) decrease in inventory	(101,096)	(26,752)
(Increase) in prepaid expenses and other	(517,772)	(129,249)
Increase / (decrease) in accounts payable and other	134,775	(109,707)
Increase (decrease) in accrued liabilities	961,858	(596,654)
Increase in accrued compensation	308,824	200,970
Increase in interest payable - related party	166,667	0
(Decrease) in deferred rent	(1,450)	(6,674)
Net cash used in operating activities	(13,831,377)	(15,940,322)
Cash flows used in investing activities
Deposits	2,888	(2,200)
Purchases of fixed assets	(59,848)	(74,707)
Contingent consideration payment	(505,025)	(7,385)
Purchase of assets	(500,000)	(400,000)
Net cash used in investing activities	(1,061,985)	(484,292)
Cash flows from financing activities
Issuance of preferred, common stock and warrants	15,180,000	11,839,995
Issuance costs related to preferred, common stock and warrants	(1,479,964)	(1,402,831)
Issuance of preferred, common stock and warrant	0	12,900,020
Issuance costs related to preferred, common stock and warrant	0	(1,294,235)
Warrant exercises	375,026	677,100
S-3 registered offering cost	0	(60,450)
Proceeds of debt - related party	5,000,000	0
Net cash provided by financing activities	19,075,062	22,659,599
Net change in cash, cash equivalents and restricted cash	4,181,700	6,234,985
Cash, cash equivalents and restricted cash at beginning of period	7,112,527	877,542
Cash, cash equivalents and restricted cash at end of period	11,294,227	7,112,527
Warrants issued to investors and underwriters (see Note 13)	1,888,652	4,117,997
Warrant exercise of derivative warrants	0	40,096
Contingent consideration included in accounts payable	42,821	8,980
Earn-out payment to Nuelle Shareholders	0	250,000
Purchase of asset included in contingent consideration	0	293,216
Contingent consideration related to product acquisition (Note 4)	8,833,219	2,553,169
Issuance of preferred stock related to purchase of asset	519,600	0
Conversion of debt to equity	$ 5,166,667	$ 0

Nature of Business and Financia

Nature of Business and Financial Condition	12 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Financial Condition	Nature of Business. (low testosterone) and plans to expand opportunistically into other therapeutic areas. The Company is currently focused on commercialization of four products, (i) Natesto®, a testosterone replacement therapy, or TRT, (ii) Tuzistra® XR, a codeine–based antitussive, (iii) ZolpiMistTM, a short-term insomnia treatment and (iv), MiOXSYS®, a novel in vitro diagnostic system for male infertility assessment. In the future the Company will look to acquire additional commercial-stage or near-market products, including existing products we believe can offer distinct commercial advantages. The management team’s prior experience has involved identifying both clinical-stage and commercial-stage assets that can be launched or re-launched to increase value, with a focused commercial infrastructure specializing in novel, niche products. Financial Condition. The Company’s operations have historically consumed cash and are expected to continue to require cash, but at a declining rate. Revenues have increased 100% and 14% for each of the years ended June 30, 2019 and 2018, respectively, and is expected to continue to increase, allowing the Company to rely less on its existing cash and cash equivalents, and proceeds from financing transactions. Despite increased revenue, cash used in operations during fiscal year 2019 was $13.8 million compared to $16.0 million in 2018, due to the Company completing the build-out of the Company’s commercial infrastructure in 2019. As of the date of this Report, the Company expects its commercial costs to remain approximately flat or to increase modestly as the Company continues to focus on revenue growth. The Company’s current asset position of $34.8 million plus the proceeds expected from ongoing product sales will be used to fund operations. The Company will access the capital markets to fund operations if and when needed, and to the extent it becomes probable that existing cash and cash equivalents, and other current assets may become exhausted. The timing and amount of capital that may be raised is dependent on market conditions and the terms and conditions upon which investors would require to provide such capital. There is no guarantee that capital will be available on terms that the Company considers to be favorable to the Company and its stockholders, or at all. However, the Company has been successful in accessing the capital markets in the past and is confident in its ability to access the capital markets again, if needed. Since the Company does not have sufficient cash and cash equivalents on-hand as of June 30, 2019, to cover potential net cash outflows for the twelve months following the filing date of this Annual Report, ASU 2014-15, Presentation of Financial Statements—Going Concern If the Company is unable to raise adequate capital in the future when it is required, the Company can adjust its operating plans to reduce the magnitude of the capital need under its existing operating plan. Some of the adjustments that could be made include delays of and reductions to product support programs, reductions in headcount, narrowing the scope of one or more of the Company’s commercialization programs, or reductions to its research and development programs. Without sufficient operating capital, the Company could be required to relinquish rights to product candidates 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. The Company has incurred accumulated net losses since inception, and at June 30, 2019, we had an accumulated deficit of $106.4 million. Our net loss increased to $27.1 million from $10.2 million for fiscal 2019 and 2018, respectively. The Company used $13.8 million and $16.0 million in cash from operations during fiscal 2019 and 2018. Reverse Stock Split.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Principals of Consolidation. Basis of Presentation. Use of Estimates. Cash, Cash Equivalents and Restricted Cash. Accounts Receivable. Inventories. Fixed Assets. Fair Value of Financial Instruments. Aytu accounts for liability warrants by recording the fair value of each instrument in its entirety and recording the fair value of the warrant derivative liability. The fair value of the financial instruments was calculated using a lattice valuation model. Changes in the fair value in subsequent periods was recorded as derivative income or expense for the warrants. The fair value of the warrants issued to the placement agents in connection with the registered offering were valued using the lattice valuation methodology. Changes in the fair value in subsequent periods were recorded to derivative income. Revenue Recognition. Product sales consist of sales of the Company’s four products: (i) Natesto, (ii) Tuzistra XR, (iii) ZolpiMist, and (iv), MiOXSYS. Products are generally shipped “free-on-board” destination. Collectibility of revenue is reasonably assured based on historical evidence of collectibility between the Company and its customers, or for new customers, upon review of customer financial condition and credit history. Revenue from product sales is recorded at the net sales price, or “transaction price,” which includes estimates of variable consideration that result from coupons, discounts, chargebacks and distributor fees, processing fees, as well as allowances for returns and government rebates. The Company constrains revenue by giving consideration to factors that could otherwise lead to a probable reversal of revenue. Provision balances related to estimated amounts payable to direct customers are netted against accounts receivable from such customers. Balances related to indirect customers are included in accounts payable and accrued liabilities. Where appropriate, the Company utilizes the expected value method to determine the appropriate amount for estimates of variable consideration based on factors such as the Company’s historical experience and specific known market events and trends. License sales consist of amounts generated from the Company’s sublicense agreement to a third-party for certain of its patented products. Revenue is recognized when earned, based on sales of products under the specified sub-license agreement. Customer Concentrations. Year Ended June 30, 2019 2018 Customer A 19 % 32 % Customer C 26 % 30 % Customer B 20 % 24 % Customer D 22 % 0 % The loss of one or more of the Company's significant partners or collaborators could have a material adverse effect on its business, operating results or financial condition. We are also subject to credit risk from our accounts receivable related to our product sales. Historically, we have not experienced significant credit losses on our accounts receivable and we do not expect to have write-offs or adjustments to accounts receivable which would have a material adverse effect on our financial position, liquidity or results of operations. As of June 30, 2019, four customers accounted for 88% of gross accounts receivable. As of June 30, 2018, four customers accounted for 93% of gross accounts receivable. Year Ended June 30, 2019 2018 Customer A 9 % 27 % Customer B 20 % 19 % Customer C 36 % 35 % Customer E 23 % 0 % Other 0 % 12 % Estimated Sales Returns and Allowances. Costs of Goods Sold. Stock-Based Compensation. Research and Development Patents. Impairment of Long-lived Assets. The Company evaluated its long-lived assets for impairment as of June 30, 2019 and 2018 respectively, and there was $0 and $1.9 million of impairment recorded. Income Taxes. Net Loss Per Common Share. The following table sets-forth securities that could be potentially dilutive, but as of the years ended June 30, 2019 and 2018 are anti-dilutive, and therefore excluded from the calculation of diluted earnings per share. Year Ended June 30, 2019 2018 Warrants to purchase common stock - liability classified (Note 13) 240,755 240,755 Warrant to purchase common stock - equity classified (Note 13) 16,218,908 1,641,906 Employee stock options (Note 12) 1,607 1,798 Employee unvested restricted stock (Note 12) 2,347,754 38,740 Convertible preferred stock (Note 11) 3,594,981 – 22,404,005 1,923,199 Adoption of New Accounting Pronouncements Revenue from Contracts with Customers (“ASU 2014-09”). In May 2014, the FASB issued ASU 2014-09, Topic 606, Revenue from Contracts with Customers Contracts with Customers Effective July 1, 2018, the Company adopted ASC 606 through the modified retrospective method and did not result in a cumulative adjustment to retained earnings or accumulated deficit as of the adoption date. This is due to the fact that the impact of adopting the new standard is not significant as it relates to historical revenues, future revenues, or accounting for incremental costs of obtaining contracts with our customers. We adopted the new standard through applying the following conclusions (resulting from a thorough analysis of all contract types): (1) The new guidance did not materially change our existing policy and practice for identifying contracts with customers, nor did it give rise to changes to our existing policy and practice or create new concern surrounding the collectability of our receivables from customers, (2) none of our contracts with customers contain multiple performance obligations that are not fulfilled at the same time, (3) the new guidance did not change our existing policy and practice regarding the recording of variable consideration, and (4) we did not identify any customer acquisition costs that are incremental and that are expected to be recovered at a future time. As mentioned above, the modified retrospective method of transition did not result in a cumulative adjustment as of July 1, 2018. The Company did not utilize either the (i) significant financing component practical expedient, or the (ii) contract cost practical expedient, as these did not apply to the Company's contracts, and there was no impact to the financial statements. Additionally, no other line items in the statement of operations or the balance sheet reflect any changes due to the adoption of the new standard. Adoption of the standards related to revenue recognition had no impact to cash from or used in operating, financing, or investing on our consolidated cash flows statement. 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. Early adoption is permitted upon issuance of ASU 2018-13. An entity is permitted to early adopt any removed or modified disclosures upon issuance of ASU 2018-13 and delay adoption of the additional disclosures until their effective date. The Company is currently assessing the impact that ASU 2018-13 will have on its financial statements. Financial Instruments – Credit Losses (“ASU 2016-03”). Leases (“ASU 2016-02”). Topic 842 Leases. Future minimum lease obligations for leases accounted for as operating leases at June 30, 2019 totaled approximately $0.3 million. While the Company has not yet completed its evaluation, it anticipates that the adoption of ASU 2016-02 will require the Company to recognize approximately $0.4 - $0.5 million of right-to-use assets and related lease liabilities related to the Company’s corporate office leases. The Company has not yet completed its determination whether leases qualify as (i) operating or (ii) financing under the new standard. The Company has elected to apply the short-term scope exception for leases with terms of 12 months or less at the inception of the lease, and will continue to recognize rent expense on a straight-line basis. The impact from electing this scope exception is expected to be less than $0.1 million.

Revenues from Contracts with Cu

Revenues from Contracts with Customers	12 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	The Company sells its products principally to a limited number of wholesale distributors and pharmacies in the United States, which account for the largest portion of our total revenue. International sales are made primarily to specialty distributors, as well as hospitals, laboratories, and clinics, some of which are government owned or supported (collectively, its “Customers”). The Company’s Customers in the United States subsequently resell the products to patients and pharmacies. Revenue from product sales is recorded at the net sales price, or “transaction price,” which includes estimates of variable consideration that result from coupons, discounts, chargebacks and distributor fees, processing fees, as well as allowances for returns and government rebates. In accordance with ASC 606, the Company recognizes net revenues from product sales when the Customer obtains control of the Company’s product, which typically occurs upon delivery to the Customer. The Company’s payment terms are between 30 to 60 days in the United States and consistent with prevailing practice in international markets. Revenues by Geographic location. Year Ended June 30, 2019 2018 U.S. 6,462,000 3,213,000 International 858,000 447,000 Total net revenue 7,320,000 3,660,000

Product Licenses

Product Licenses	12 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Product Licenses	The Company currently licenses three of its existing product offerings from third parties: (i) Natesto; (ii) ZolpiMist, and (ii) Tuzistra XR. Each of these license agreements are subject to terms and conditions specific to each agreement. The Company capitalized the acquisition cost of each license, which included a combination of both upfront considerations, as well as the estimated future contingent consideration estimated at the acquisition date. License and Supply Agreement—Natesto. In April 2016, Aytu entered into a license and supply agreement to acquire the exclusive U.S. rights to commercialize Natesto (testosterone) nasal gel from Acerus Pharmaceuticals Corporation, or Acerus. We acquired the rights effective upon the expiration of the former licensee’s rights, which occurred on June 30, 2016. The term of the license runs for the greater of eight years or until the expiry of the latest to expire patent, including claims covering Natesto or until the entry on the market of at least one AB-rated generic product. In addition to the previously disclosed upfront payments made to Acerus, we agreed to make one-time, non-refundable milestone payments to Acerus within 45 days of the occurrence of certain agreed upon milestones. The maximum aggregate amount payable under such milestone payments is $37.5 million. The fair value of the net identifiable Natesto asset acquired was determined to be $10.5 million, which is being amortized over eight years. The aggregate amortization expense for fiscal 2019 and fiscal 2018 was $1.3 million, respectively. The estimated future amortization of Natesto after June 30, 2019 is as follows: Year-Ended June 30, 2020 1,319,000 2021 1,319,000 2022 1,319,000 2023 1,319,000 2024 1,318,000 $ 6,594,000 The contingent consideration was initially valued at $3.2 million using a Monte Carlo simulation, as of June 30, 2016. As of June 30, 2019, the contingent consideration was revalued at $5.1 million using the same Monte Carlo simulation methodology. The contingent consideration accretion expense for fiscal 2019 and fiscal 2018 was $0.07 million, and $0.7 million respectively. As of June 30, 2019, no milestone payments have been made. License and Supply Agreement—ZolpiMist In June 2018, Aytu signed an exclusive license agreement for ZolpiMist™ (zolpidem tartrate oral spray) from Magna Pharmaceuticals, Inc., (“Magna”). This agreement allows for Aytu’s exclusive commercialization of ZolpiMist in the U.S. and Canada. Aytu made an upfront payment of $0.4 million to Magna upon execution of the agreement. In July 2018, we paid an additional $0.3 million of which, $297,000 was included in current contingent consideration at June 30, 2018. We also agreed to make certain royalty payments to Magna which will be calculated as a percentage of ZolpiMist net sales and are payable within 45 days of the end of the quarter during which the applicable net sales occur. The ZolpiMist license agreement was valued at $3.2 million and will be amortized over the life of the license agreement up to seven years. The amortization expense for fiscal 2019 and fiscal 2018 was $0.5 million and $0.04 million, respectively. The estimated future amortization of ZolpiMist after June 30, 2019 is as follows: Year Ended June 30, 2020 464,000 2021 464,000 2022 464,000 2023 464,000 2024 464,000 Thereafter 424,000 $ 2,744,000 The contingent consideration, related to these royalty payments, was valued at $2.6 million using a Monte Carlo simulation, as of June 11, 2018. As of June 30, 2019, the contingent consideration was revalued at $2.3 million (Note 9). The contingent consideration accretion expense for fiscal 2019 and 2018 was $0.3 million and $0.02 million, respectively. License, Development, Manufacturing and Supply Agreement—Tuzistra XR On November 2, 2018, the Company entered into a License, Development, Manufacturing and Supply Agreement (the “Tris License Agreement”) with TRIS Pharma, Inc. (“TRIS”). Pursuant to the Tris License Agreement, TRIS granted the Company an exclusive license in the United States to commercialize Tuzistra XR. In addition, TRIS granted the Company an exclusive license in the United States to commercialize a complementary antitussive referred to as “CCP-08” (together with Tuzistra XR, the “Products”) for which marketing approval has been sought by TRIS under a New Drug Application filed with the Food and Drug Administration (“FDA”). As consideration for the Products license, the Company: (i) made an upfront cash payment to TRIS; (ii) issued shares of Series D Convertible preferred stock to TRIS; and (iii) will pay certain royalties to TRIS throughout the license term in accordance with the Tris License Agreement. The Tris License Agreement was valued at $9.9 million and will be amortized over the life of the Tris License Agreement up to twenty years. The amortization expense for fiscal 2019 and 2018 was $0.3 million and $0, respectively. The estimated future amortization of Tuzistra after June 30, 2019 is as follows: Year Ended June 30, 2020 493,000 2021 493,000 2022 493,000 2023 493,000 2024 493,000 Thereafter 7,059,000 $ 9,524,000 We also agreed to make certain quarterly royalty payments to TRIS which will be calculated as a percentage of our Tuzistra XR net sales, payable within 45 days of the end of the applicable quarter. As of November 2, 2018, the contingent consideration, related to this asset, was valued at $8.8 million using a Monte Carlo simulation. As of June 30, 2019, the contingent consideration was revalued at $16.0 million. The contingent consideration accretion expense for fiscal 2019 and 2018 was $0.2 million, and $0, respectively (Note 9).

Inventories

Inventories	12 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventory balances consist of the following: June 30, 2019 2018 Raw materials $ 117,000 $ 239,000 Finished goods 1,323,000 1,100,000 $ 1,440,000 $ 1,339,000 There was no work-in-process inventory as of June 30, 2019 or 2018, respectively.

Fixed Assets

Fixed Assets	12 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Fixed Assets	Fixed assets consist of the following: Estimated June 30, Useful Lives in years 2019 2018 Manufacturing equipment 2 - 5 $ 83,000 $ 213,000 Leasehold improvements 3 112,000 112,000 Office equipment, furniture and other 2 - 5 315,000 344,000 Lab equipment 3 - 5 90,000 90,000 Less accumulated depreciation and amortization (396,000 ) (540,000 ) Fixed assets, net $ 204,000 $ 219,000 During the year ended June 30, 2019, the Company derecognized the fully impaired fixed assets related to the Fiera product line, which was discontinued during the year ended June 30, 2018. Aytu recorded depreciation and amortization expense of $0.1 million and $0.3 million for the years ended June 30, 2019 and 2018, respectively.

Patents

Patents	12 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Patents	Aytu recorded the amortization expense totaling $0.03 and $0.03 million for the years ended June 30, 2019 and 2018, respectively. Patents consist of the following: June 30, 2019 2018 Patents $ 380,000 $ 380,000 Less accumulated amortization (159,000 ) (134,000 ) Patents, net $ 221,000 $ 246,000 Future amortization from the year ended June 30, 2019 is as follows: Fiscal Year Year Ended June 30, 2020 $ 25,000 2021 25,000 2022 25,000 2023 25,000 2024 25,000 Thereafter 96,000 $ 221,000

Accrued liabilities

Accrued liabilities	12 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
Accrued liabilities	Accrued liabilities consist of the following: June 30, 2019 2018 Accrued accounting fee 85,000 71,000 Accrued legal-related fees − 26,000 Accrued program liabilities 736,000 − Accrued product-related fees 295,000 − Customer overpayment − 43,000 Other accrued liabilities* 32,000 46,000 Total accrued liabilities $ 1,148,000 $ 186,000 * Other accrued liabilities consist of employee relocation expense, samples and consultants, none of which individually represent greater than five percent of total current liabilities.

Fair Value Considerations

Fair Value Considerations	12 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Considerations	Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of Aytu. Unobservable inputs are inputs that reflect Aytu’s assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on reliability of the inputs as follows: Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to Aytu for identical assets or liabilities; Level 2: Inputs include quoted prices for similar assets and liabilities in active or inactive markets or that are observable for the asset or liability either directly or indirectly; and Level 3: Unobservable inputs that are supported by little or no market activity. Aytu’s assets and liabilities which are measured at fair value on a recurring basis are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Aytu’s policy is to recognize transfers in and/or out of fair value hierarchy as of the date in which the event or change in circumstances caused the transfer. Aytu has consistently applied the valuation techniques discussed below in all periods presented. The following table presents Aytu’s financial liabilities that were accounted for at fair value on a recurring basis as of June 30, 2019 and 2018, by level within the fair value hierarchy: Fair Value Measurements at June 30, 2019 Fair Value at June 30, 2019 Quoted Priced in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs(Level 2) Significant Unobservable Inputs(Level 3) Recurring: Warrant derivative liability $ 13,000 $ - $ - $ 13,000 Contingent consideration 23,326,000 - - 23,326,000 $ 23,339,000 $ - $ - $ 23,339,000 Fair Value Measurements at June 30, 2018 Fair Value at June 30, 2018 Quoted Priced in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs(Level 2) Significant Unobservable Inputs(Level 3) Recurring: Warrant derivative liability $ 94,000 $ - $ - $ 94,000 Contingent consideration 4,694,000 - - 4,694,000 $ 4,788,000 $ - $ - $ 4,788,000 Warrant Derivative Liability. As of June 30, 2019 As of June 30, 2018 At Issuance Warrant Derivative Liability Volatility 163.2 % 173.4 % 188.0 % Equivalent term (years) 3.13 4.13 5.00 Risk-free interest rate 1.71 % 2.69 % 1.83 % Dividend yield 0.00 % 0.00 % 0.00 % The following table sets forth a reconciliation of changes in the warrant derivative liability for the period ended June 30, 2019: Liability Classified Warrants Balance as of June 30, 2017 $ - Warrant issuances 4,118,000 Warrant exercises (40,000 ) Change in fair value included in earnings (3,984,000 ) Balance as of June 30, 2018 $ 94,000 Change in fair value included in earnings (81,000 ) Balance as of June 30, 2019 $ 13,000 Contingent Consideration. Contingent Consideration Balance as of June 30, 2016 $ 3,869,000 Increase due to purchase of assets 1,927,000 Increase due to accretion 306,000 Increase due to remeasurement 2,256,000 Decrease due to impairment (710,000 ) Balance as of June 30, 2017 $ 7,648,000 Increase due to purchase of assets 2,846,000 Increase due to accretion 801,000 Decrease due to contractual payment (266,000 ) Decrease due to remeasurement (6,335,000 ) Balance as of June 30, 2018 $ 4,694,000 Increase due to purchase of assets 8,833,000 Increase due to accretion 516,000 Decrease due to contractual payment (548,000 ) Increase due to remeasurement 9,831,000 Balance as of June 30, 2019 $ 23,326,000 The contingent consideration was valued using the Monte-Carlo valuation methodology because that model embodies all of the relevant assumptions that address the features underlying these instruments. Contingent consideration is not actively traded and therefore classified as Level 3. Significant assumptions in valuing the contingent consideration were as follows as of June 30, 2019 and as of June 30, 2018: As of June 30, 2019 As of June 30, 2018 Natesto Relevered Beta 0.83 0.99 Maket risk premium 5.50 % 5.50 % Risk-free interest rate 3.50 % 4.00 % Discount 10.20 % 10.40 % As of June 30, 2019 As of June 30, 2018 ZolpiMist Relevered Beta 1.16 1.07 Maket risk premium 5.50 % 5.00 % Risk-free interest rate 3.50 % 3.50 % Discount 10.20 % 10.40 % As of June 30, 2019 At Issuance Tuzistra XR Relevered Beta 1.19 1.49 Maket risk premium 5.50 % 5.00 % Risk-free interest rate 3.50 % 3.50 % Discount 20.20 % 20.40 %

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income tax benefit resulting from applying statutory rates in jurisdictions in which Aytu is taxed (Federal and various states) differs from the income tax provision (benefit) in the Aytu financial statements. The following table reflects the reconciliation for the respective periods. June 30, 2019 2018 Benefit at statutory rate (5,698,000 ) -21.00 % (2,807,000 ) -12.47 % State income taxes, net of federal benefit (1,077,000 ) -3.97 % (585,000 ) -2.60 % Stock based compensation 3,000 0.01 % 22,000 0.10 % Contingent consideration - 0.00 % (465,000 ) -2.07 % Change in tax rate 12,000 0.04 % (31,000 ) -0.14 % Remeasurement of deferred taxes - 0.00 % 6,648,000 29.54 % Effect of phased-in tax rate - 0.00 % 891,000 3.96 % Change in valuation allowance 6,584,000 24.27 % (2,745,000 ) -12.20 % Derivative income (16,000 ) -0.06 % (1,029,000 ) -4.57 % Other 192,000 0.72 % 101,000 0.45 % Net income tax provision (benefit) - 0.00 % - 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: June 30, 2019 2018 Deferred tax assets (liabilities): Accrued expenses 234,000 136,000 Net operating loss carry forward 18,085,000 14,458,000 Intangibles 3,377,000 651,000 Share-based compensation 1,210,000 1,044,000 Fixed assets 86,000 139,000 Capital loss carry forward 203,000 204,000 Contribution carry forward 31,000 29,000 Warrant liability 51,000 53,000 Inventory 25,000 4,000 Total deferred income tax assets 23,302,000 16,718,000 Less: Valuation allowance (23,302,000 ) (16,718,000 ) Net deferred income tax assets - - 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. A significant piece of objective negative evidence evaluated was the cumulative loss incurred since inception. Such objective evidence limits the ability to consider other subjective evidence such as the Company’s projection for future growth. On the basis of this evaluation the company has recorded a full valuation allowance on its deferred tax assets. The Company has federal net operating losses of approximately $73.9 million and $59.3 million as of June 30, 2019 and June 30, 2018, respectively that, subject to limitation, may be available in future tax years to offset taxable income. Of the available federal net operating losses, approximately $31.4 million can be carried forward indefinitely while the balance will begin to expire in 2031. The Company has state net operating losses of approximately $63.9 million and $50.3 million as of June 30, 2019 and June 30, 2018, respectively that, subject to limitation, may be available in future tax years to offset taxable income. 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, 2019 and 2018, the Company has no liability for gross unrecognized tax benefits or related interest and penalties. Aytu has made its best estimates of certain income tax amounts included in the financial statements. Application of the Company’s accounting policies and estimates, however, involves the exercise of judgement and use of assumptions as to future uncertainties and, as a result, could differ from these estimates. In arriving at its estimates, factors the Company considers include how accurate the estimates or assumptions have been in the past, how much the estimates or assumptions have changed and how reasonably likely such changes may have a material impact. Aytu has been historically included in the Ampio consolidated tax return. Under the general statute of limitations, the Company would not be subject to federal or Colorado income tax examinations for tax years prior to 2015 and 2014, respectively. However, given the net operating losses generated since inception, all tax years since inception are subject to examination

Capital Structure

Capital Structure	12 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Capital Structure	At June 30, 2019 and June 30, 2018, Aytu had 17,538,071 and 1,794,762 shares of common stock outstanding, respectively, and 3,594,981 and 0 shares of preferred stock outstanding, respectively. The Company has 100 million shares of common stock authorized with a par value of $0.0001 per share. The Company has 50 million shares of non-voting, non-cumulative preferred stock authorized with a par value of $0.0001 per share, of which, 293,833 are designated as Series C Convertible preferred stock, 400,000 are designated as Series D Convertible preferred stock, and 2,751,148 are designated as Series E Convertible preferred stock as of June 30, 2019. Liquidation rights for all series of preferred stock are on an as-converted basis. Included in the common stock outstanding are 2,551,024 shares of restricted stock issued to executives, directors, employees and consultants. Year Ended June 30, 2019 On October 9, 2018, we completed an underwritten public offering for, total gross proceeds of $15.2 million which includes the full exercise of the underwriters’ over-allotment option to purchase additional shares and warrants, before deducting underwriting discounts, commissions and other offering expenses payable by the Company. The securities offered by the Company consisted of: (i) an aggregate of 457,007 shares of its common stock; (ii) an aggregate of 8,342,993 shares of its Series C Convertible preferred stock convertible into an aggregate of 8,342,993 shares of common stock at a conversion price of $1.50 per share; and (iii) warrants to purchase an aggregate of 8,800,000 shares of common stock at an exercise price of $1.50 per share. The securities were issued at a public offering purchase price of $1.50 per fixed unit consisting of: (a) one share of common stock and one warrant; or (b) one share of Series C preferred stock and one warrant. The common stock issued had a relative fair value of $533,000 in the aggregate and a fair value of $594,000 in the aggregate. The Series C preferred stock issued had a relative fair value of $9.7 million in the aggregate and a fair value of $10.8 million in the aggregate. The warrants are exercisable upon issuance and will expire five years from the date of issuance. The warrants have a relative fair value of $1.6 million in the aggregate, a fair value of $1.8 million in the aggregate, and generated gross proceeds of $88,000. The conversion price of the Series C preferred stock in the offering as well as the exercise price of the warrants are fixed and do not contain any variable pricing features, or any price based anti-dilution features. In connection with this offering, the underwriters exercised their over-allotment option in full, purchasing an additional 1,320,000 shares of common stock and 1,320,000 warrants. The common stock issued had a relative fair value of $1.5 million and a fair value of $1.7 million. The warrants have the same terms as the Warrants sold in the registered offering. These warrants have a relative fair value of $238,000, a fair value of $265,000, and gross proceeds of $13,000, which was the purchase price per the underwriting agreement. In October 2018, Aytu issued 9,000 shares of common stock to a former employee at a fair value of $12,000. On November 2, 2018, the Company issued 400,000 shares of Series D Convertible preferred stock as consideration for a purchased asset valued at $520,000. On April 18, 2019, pursuant to the exchange agreement between Aytu and Armistice, which was approved by the stockholders of the Company on April 12, 2019, Aytu exchanged the Armistice Note into: (1) 3,120,064 shares of common stock of the Company, (2) 2,751,148 shares of Series E Convertible preferred stock of the Company, and (3) a Common Stock Purchase Warrant exercisable for 4,403,409 shares of common stock of the Company.The aggregate fair value of shares issued was approximately $4.7 million. As of June 30, 2019, warrants issued from the October registered offering to purchase an aggregate of 250,007 shares of common stock were exercised for aggregate gross proceeds to our Company of approximately $375,000. As of June 30, 2019, investors holding shares of Series C preferred stock exercised their right to convert 7,899,160 shares of Series C preferred stock into 7,899,160 shares of common stock. As of June 30, 2019, Aytu has 443,833 shares of Series C preferred stock outstanding. Year Ended June 30, 2018 In February 2018, investors holding Aytu Series A Preferred shares exercised their right to convert 95 Aytu Series A Preferred shares into 31,667 shares of Aytu common stock. On March 6, 2018, Aytu completed an underwritten public offering for total gross proceeds of $12 million, before deducting cash offering costs inclusive of underwriting discounts, commissions and other offering expenses totaling $1.2 million. The securities sold by the Company consist of (i) Class A Units consisting of an aggregate of 976,000 shares of our common stock and warrants to purchase an aggregate of 976,000 shares of common stock, at a public offering price of $9.00 per Class A Unit, and (ii) Class B Units consisting of 161 shares of our Series B Preferred Stock, with a stated value of $20,000 per share, and convertible into an aggregate of 357,356 shares of common stock, and warrants to purchase an aggregate of 357,356 shares of common stock, at a public offering price of $20,000 per Class B Unit. The warrants have an exercise price of $10.80, are exercisable upon issuance and will expire five years from the date of issuance. The Company granted the underwriters a 45-day option to purchase an additional 200,000 shares of common stock and/or warrants to purchase an additional 200,000 shares of common stock. In connection with the closing of this offering, the underwriters partially exercised their over-allotment option and purchased an additional 200,000 warrants. On March 26, 2018, the underwriters exercised their over-allotment option to purchase an additional 100,000 shares of common stock, resulting in gross proceeds of approximately $900,000, before deducting costs of $63,000. In March 2018, investors holding Aytu Series B Preferred shares exercised their right to convert 161 Aytu Series B Preferred shares into 357,356 shares of Aytu common stock. During the year ended June 30, 2018, warrants issued from the March 2018 registered offerings to purchase an aggregate of 80,750 shares of common stock were exercised for aggregate gross proceeds to the Company of approximately $677,000.

Equity Incentive Plan

Equity Incentive Plan	12 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Equity Incentive Plan	2015 Stock Option and Incentive Plan. Stock Options Employee Stock Options: Non-Employee Stock Options: Market options that require specific events before they begin to vest are valued at grant date. The fair value of the options granted has been calculated using a Monte Carlo simulation. The significant assumptions at issuance in valuing the non-employee performance stock options were as follows: As of June 30, 2019 Expected volatility 164.0 % Expected term (years) 5.00 Risk-free interest rate 2.99 % Dividend yield 0.00 % Stock option activity is as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Outstanding June 30, 2017 1,947 $ 326.20 8.40 Granted – – Exercised – – Forfeited/Cancelled (149 ) 328.00 Outstanding June 30, 2018 1,798 325.97 6.95 Granted 75,000 1.00 Exercised – – Forfeited/Cancelled (75,036 ) 1.16 Expired (155 ) 328.00 Outstanding June 30, 2019 1,607 325.73 6.13 Exercisable at June 30, 2019 1,471 $ 325.52 6.07 The following table details the options outstanding at June 30, 2019 by range of exercise prices: Range of Exercise Prices Number of Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Life of Options Outstanding Number of Options Exercisable Weighted Average Exercise Price $ 280.00 76 $ 280.00 7.85 76 $ 280.00 $ 328.00 1,531 $ 328.00 6.05 1,395 $ 328.00 1,607 $ 325.73 6.13 1,471 $ 325.52 As of June 30, 2019, there was $7,000 of total unrecognized stock-based compensation expense related to employee non-vested stock options. The Company expects to recognize this expense over a weighted-average period of 0.32 years. There was no unrecognized stock-based compensation expense related to non-employee performance options, as these were fully forfeited at June 30, 2019. Restricted Stock Restricted stock activity is as follows: Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Life in Years Unvested at June 30, 2017 – $ – – Granted 39,150 $ 39.80 Vested – $ 40.40 Forfeited (1,950 ) $ 40.40 Unvested at June 30, 2018 37,200 $ 39.80 9.4 Granted 2,772,022 $ 1.30 Vested – – Forfeited (463,008 ) $ 1.23 Unvested at June 30, 2019 2,346,214 $ 1.83 9.1 Activity During the Year Ended June 30, 2019 ● In October 2018, the Company issued 2,707,022 shares of restricted stock to executives, directors, employees pursuant to the 2015 Plan, which vest in October 2028. ● In February 2019, The Company issued 65,000 shares of restricted stock to a director pursuant to the 2015 Plan, which vest in February 2029. ● 372,408 shares of restricted stock were exchanged with common stock, and the Company recognized an increase in aggregate stock compensation expense of $371,000 ● 90,600 shares of restricted stock were forfeited due to employee turnover. Activity during Year Ended June 30, 2018 ● In September 2017, The Company issued 10,000 shares of restricted stock to employees pursuant to the 2015 Plan, which vest in September 2027. ● November 2017, the Company issued 24,750 shares of restricted stock to executives, directors and consultants pursuant to the 2015 Plan, which vest in November 2027. ● In January 2018, The Company issued 3,750 shares of restricted stock to an officer pursuant to the 2015 Plan, which vest in January 2028. ● In March 2018, The Company issued 650 shares of restricted stock to employees pursuant to the 2015 Plan, which vest in March 2028. ● 1,150 shares of restricted stock were exchanged with common stock due to employee turnover, and the Company recognized an increase in aggregate stock compensation expense of $14,000. ● 800 shares of restricted stock were forfeited due to employee turnover. Under the 2015 Plan, there was $3,874,000 of total unrecognized stock-based compensation expense related to the non-vested restricted stock as of June 30, 2019. The Company expects to recognize this expense over a weighted-average period of 9.07 years. The Company previously issued 1,540 shares of restricted stock outside the Company’s 2015 Plan, which vest in July 2026. The unrecognized expense related to these shares was $1,397,000 as of June 30, 2019 and is expected to be recognized over the weighted average period of 7.03 years. Stock-b Selling, general and administrative: 2019 2018 Stock options $ 125,000 $ 349,000 Restricted stock 897,000 248,000 Total stock-based compensation expense $ 1,022,000 $ 597,000

Warrants

Warrants	12 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Warrants	A summary of the Company’s warrant activity is as follows: Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Outstanding June 30, 2017 14,342 $ 1,005.80 4.23 Warrants issued in connection with the August 2017 private offering 296,006 $ 72.00 Warrants issued to underwriters in connection with the August 2017 private offering 19,749 $ 72.00 Warrants issued in connection with the March 2018 public offering 1,533,356 $ 10.80 Warrants issued to investor 100,000 $ 10.80 Warrants expired (42 ) $ 21,744.00 Warrants exercised (80,750 ) $ 8.20 Outstanding June 30, 2018 1,882,661 $ 25.94 4.61 Warrants issued in connection with the October 2018 public offering 10,120,000 $ 1.50 Warrants issued to underwriters in connection with the October 2019 public offering 303,600 $ 1.50 Warrants issued in connection with the Armistice debt exchange 4,403,409 $ 1.00 Warrants exercised (250,007 ) $ 1.50 Outstanding June 30, 2019 16,459,663 $ 4.16 4.34 In connection with the Company’s August 2017 private offering, the Company issued warrants to purchase an aggregate of 315,755 shares of common stock at an exercise price of $72.00 and a term of five years to investors and underwriters. The remaining outstanding warrants from that offering are accounted for using derivative liability treatment (see Note 9). In connection with our March 2018 public offering, we issued to investors and underwriters warrants to purchase an aggregate of 1,533,356 shares of common stock at an exercise price of $10.80 with a term of five years from March 6, 2018. These warrants are accounted for under equity treatment. Of the 1,533,356 warrants issued in the March 2018 public offering, 5,750 were exercised in during the year ended June 30, 2018. In March 2018, Aytu BioScience, Inc. entered into a warrant exercise agreement with an investor of the Company’s outstanding warrants. Pursuant to the exercise agreement, the Company agreed to reduce the exercise price of the investor’s warrant to purchase 75,000 shares of the Company’s common stock from $72.00 to one cent less than the closing price on the last trading day prior to the exercise date; provided that the investor exercised the warrant for cash by March 23, 2018, and the Company also agreed to issue the investor a new warrant to purchase 100,000 shares of the Company’s common stock at an exercise price of $10.80 per share. In accordance with the exercise agreement, the investor exercised the warrant and the Company received net proceeds of $615,000. The new warrant to purchase 100,000 shares of the Company’s common stock are accounted for under equity treatment and have a fair value of $179,000. In May 2018, the warrants the Company issued to the placement agent, in connection with the Company’s private placement in 2013, expired. The 42 placement agent warrants have a term of five years from the date of issuance and an exercise price of $21,744.00. In connection with the Company’s October 2018 registered offering, we issued warrants to investors and underwriters to purchase an aggregate of 10,423,600 shares of the Company’s common stock at an exercise price of $1.50 and a term of five years. These warrants are accounted for under equity treatment. These warrants had a relative fair value of $1.8 million and a fair value of $2.0 million. In connection with the Armistice exchange agreement, the Company issued warrants to Armistice to purchase an aggregate of 4,403,409 shares of the Company’s common stock at an exercise price of $1.00 and a term of 5 years. These warrants are accounted for under equity treatment. These warrants had a fair value of $499,000. During the year ended June 30, 2019, warrants issued from the October registered offering to purchase an aggregate of 250,007 shares of common stock were exercised for aggregate gross proceeds to the Company of approximately $375,000.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Armistice In February 2019, the Company waived its right to disallow Armistice from holding more than 4.99% of Aytu common stock and agreed to allow Armistice to hold up to 40% of the outstanding shares of our common stock. Also, in February 2019, Armistice converted 1.9 million shares of Series C preferred stock into Aytu common stock, resulting in Armistice holding more than 10% of the Company’s common stock. The Company also had a promissory note to Armistice with a face value of $5.0 million, which was subsequently exchanged for a combination of common stock, preferred stock and warrants. Therefore, Armistice is now considered an affiliate of the Company. Co-Pay Support In June 2018, the Company entered into a master services agreement with TrialCard Incorporated (“TCI”), a vendor selected to support the Company sponsored co-pay program. In supporting the program, Aytu will prefund certain amounts from which TCI will make disbursements to qualified patients presenting valid prescriptions for Natesto, Tuzistra XR and ZolpiMist on behalf of Aytu. Disbursements will be based upon business rules determined by the Company. The Company agreed to pay fees monthly to TCI for account management, data analytics, implementation, and technology and to reimburse TCI for certain direct costs incurred by TCI to support the Company’s program. One of the the Company’s directors, Mr. Donofrio, was an executive officer of TCI but has no direct interest in the arrangement. As of February 2019, Mr. Donofrio is no longer employed by TCI.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Jun. 30, 2019
Retirement Benefits [Abstract]
Employee Benefit Plan	Aytu 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. In fiscal 2019, the Company’s match was $148,000.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and contingencies are described below and summarized by the following table as of June 30, 2019: Total 2020 2021 2022 2023 2024 Thereafter Prescription database $ 1,613,000 $ 567,000 $ 534,000 $ 512,000 $ - $ - $ - Product Milestone Payments 5,500,000 - - - 5,500,000 - - Office leases 494,000 112,000 113,000 118,000 121,000 30,000 - $ 7,607,000 $ 679,000 $ 647,000 $ 630,000 $ 5,621,000 $ 30,000 $ - Prescription Database In May 2016, the Company entered into an agreement with a vendor that will provide it with prescription database information. The Company agreed to pay approximately $1.6 million over three years for access to the database of prescriptions written for Natesto. The payments have been broken down into quarterly payments. Milestone Payments In connection with the Company’s intangible assets, Aytu has certain milestone payments, totaling $5.5 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 9). Office Lease In June 2018, the Company entered into a 12-month operating lease, beginning on August 1, 2018, for office space in Raleigh, North Carolina. This lease has base rent of $1,100 a month, with total rent over the term of the lease of approximately $13,200. In September 2015, the Company entered into a 37-month operating lease in Englewood, Colorado. This lease had an initial base rent of $9,000 a month with a total base rent over the term of the lease of approximately $318,000. In October 2017, the Company signed an amendment to the 37-month operating lease in Englewood, Colorado, extending the lease for an additional 24 months beginning October 1, 2018. The base rent remained $9,000 per month. In April 2019, the Company extended the lease for an additional 36 months beginning October1, 2020. Rent expense totaled $0.1 and $0.1 million for the years ended June 30, 2019 and 2018 respectively.

Segment Information

Segment Information	12 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	Operating segments, as defined by Accounting Standards Codification, or ASC, 280 Segment Reporting The Company’s CODM operates the business as one reportable operating segment comprised of all four products. Geographic Revenues.

Armistice Note Exchange

Armistice Note Exchange	12 Months Ended
	Jun. 30, 2019
Armistice Note Exchange
Armistice Note Exchange	On November 29, 2018, Aytu issued a $5.0 million promissory note (the “Note”) to Armistice Capital Master Fund Ltd. (“Armistice”). The Note was collateralized by the future revenue stream from the products licensed to the Company under the Tris License Agreement between the Company and TRIS. The Note carried an annual interest rate of 8% and had a three-year term with principal and interest payable at maturity. The Company had the right, in its sole discretion, to repay the Note without penalty at any time after December 29, 2018. During the quarter ended June 30, 2019, the Company and Armistice agreed to, and the shareholders approved to, exchange the entire Note for (i) 3.2 million shares of common stock, (ii) 2.75 million of shares of non-voting Series E preferred stock, and (iii) 4.4 million warrants (see Notes 11 and 13).

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Acerus Pharmaceuticals SRL On July 29, 2019, the Company agreed to amend and restate the License and Supply Agreement with Acerus Pharmaceuticals, SRL (“Acerus”). The effectiveness of the amended Agreement is conditioned upon Acerus obtaining new financing within six months of signing of the amended Agreement. The Company will continue to serve as the exclusive U.S. supplier to purchasers of Natesto, and Acerus will receive performance-based commissions on prescriptions generated by urology and endocrinology specialties. Acerus will assume regulatory and clinical responsibilities and associated expenses and will serve a primary role in the development of key opinion leaders in urology and endocrinology. The Company will focus on commercial channel management, sales to wholesalers and other purchasing customers, and will direct sales efforts in all other physician specialties. Innovus Pharmaceuticals, Inc. On September 12, 2019, the Company signed a definitive merger agreements with Innovus Pharmaceuticals, Inc. (“Innovus”), a specialty pharmaceutical company commercializing, licensing and developing consumer health products. The Company will retire all outstanding common stock of Innovus for an aggregate of up to $8 million in shares of Aytu common stock, less certain deductions, at the time of closing. This initial consideration to Innovus common shareholders is estimated to consist of approximately 4.2 million shares of the Company’s common stock. Additional consideration for up to $16 million in milestone payments in the form of contingent value rights (CVRs) may be paid to Innovus shareholders in cash or stock over the next five years if certain revenue and profitability milestones are achieved.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Principals of Consolidation	These consolidated financial statements include the accounts of Aytu and its wholly-owned subsidiary, Aytu Women’s Health. All material intercompany transactions and balances have been eliminated.
Basis of Presentation	The audited consolidated financial statements include the operations of Aytu and its wholly-owned subsidiary, Aytu Women’s Health, LLC. All significant inter-company balances and transactions have been eliminated in consolidation. The accompanying consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”).
Use of Estimates	The preparation of financial statements in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include valuation allowances, stock-based compensation, warrant valuation, purchase price allocation, valuation of contingent consideration, sales returns and allowances, useful lives of fixed assets, collectability of accounts receivable, and assumptions in evaluating impairment of definite and indefinite lived assets. Actual results could differ from these estimates.
Cash, Cash Equivalents and Restricted Cash	Aytu considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Restricted cash consist primarily of amounts held in certificate of deposit investments to maintain certain credit amount for Aytu’s business credit cards. Aytu’s investment policy is to preserve principal and maintain liquidity. The Company periodically monitors its positions with, and the credit quality of the financial institutions with which it invests. Periodically, throughout the year, and as of June 30, 2019, Aytu has maintained balances in excess of federally insured limits.
Accounts Receivable	Accounts receivable are recorded at their estimated net realizable value. Aytu evaluates collectability of accounts receivable on a quarterly basis and records a reserve, accordingly. The Company did not recognize a reserve as of June 30, 2019 and 2018, respectively.
Inventories	Inventories consist of raw materials, work in process and finished goods and are recorded at the lower of cost or net realizable value, with cost determined on a first-in, first-out basis. Aytu periodically reviews the composition of its inventories in order to identify obsolete, slow-moving or otherwise unsaleable items. If unsaleable items are observed and there are no alternate uses for the inventory, Aytu will record a write-down to net realizable value in the period that the impairment is first recognized. Inventory for our abandoned products was written down during fiscal 2018. Therefore, we currently have no reserve for slow moving inventory as of June 30, 2019 and 2018, respectively.
Fixed Assets	Fixed assets are recorded at cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the assets’ estimated useful lives. Leasehold improvements are amortized over the term of the lease agreement or the service lives of the improvements, whichever is shorter. The Company begins depreciating assets when they placed into service. Maintenance and repairs are expenses as incurred.
Fair Value of Financial Instruments	The carrying amounts of financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, and accounts payable approximate their fair value due to their short maturities. The fair value of acquisition-related contingent consideration is based on estimated discounted future cash flows and assessment of the probability of occurrence of potential future events. Aytu accounts for liability warrants by recording the fair value of each instrument in its entirety and recording the fair value of the warrant derivative liability. The fair value of the financial instruments was calculated using a lattice valuation model. Changes in the fair value in subsequent periods was recorded as derivative income or expense for the warrants. The fair value of the warrants issued to the placement agents in connection with the registered offering were valued using the lattice valuation methodology. Changes in the fair value in subsequent periods were recorded to derivative income.
Revenue Recognition	The Company generates revenue from product sales and license sales. The Company recognizes revenue when all of the following criteria are satisfied: (i) Product sales consist of sales of the Company’s four products: (i) Natesto, (ii) Tuzistra XR, (iii) ZolpiMist, and (iv), MiOXSYS. Products are generally shipped “free-on-board” destination. Collectibility of revenue is reasonably assured based on historical evidence of collectibility between the Company and its customers, or for new customers, upon review of customer financial condition and credit history. Revenue from product sales is recorded at the net sales price, or “transaction price,” which includes estimates of variable consideration that result from coupons, discounts, chargebacks and distributor fees, processing fees, as well as allowances for returns and government rebates. The Company constrains revenue by giving consideration to factors that could otherwise lead to a probable reversal of revenue. Provision balances related to estimated amounts payable to direct customers are netted against accounts receivable from such customers. Balances related to indirect customers are included in accounts payable and accrued liabilities. Where appropriate, the Company utilizes the expected value method to determine the appropriate amount for estimates of variable consideration based on factors such as the Company’s historical experience and specific known market events and trends. License sales consist of amounts generated from the Company’s sublicense agreement to a third-party for certain of its patented products. Revenue is recognized when earned, based on sales of products under the specified sub-license agreement.
Customer Concentrations	Year Ended June 30, 2019 2018 Customer A 19 % 32 % Customer C 26 % 30 % Customer B 20 % 24 % Customer D 22 % 0 % The loss of one or more of the Company's significant partners or collaborators could have a material adverse effect on its business, operating results or financial condition. We are also subject to credit risk from our accounts receivable related to our product sales. Historically, we have not experienced significant credit losses on our accounts receivable and we do not expect to have write-offs or adjustments to accounts receivable which would have a material adverse effect on our financial position, liquidity or results of operations. As of June 30, 2019, four customers accounted for 88% of gross accounts receivable. As of June 30, 2018, four customers accounted for 93% of gross accounts receivable. Year Ended June 30, 2019 2018 Customer A 9 % 27 % Customer B 20 % 19 % Customer C 36 % 35 % Customer E 23 % 0 % Other 0 % 12 %
Estimated Sales Returns and Allowances	Aytu records estimated reductions in revenue for potential returns of products by customers. As a result, the Company must make estimates of potential future product returns and other allowances related to current period product revenue. In making such estimates, the Company analyzes historical returns, current economic trends and changes in customer demand and acceptance of our products. If the Company were to make different judgments or utilize different estimates, material differences in the amount of the Company’s reported revenue could result. As of June 30, 2019 and 2018, the Company accrued $99,000 and $17,000, respectively, in our estimated returns allowance. Estimates of potential returns and allowances are recorded each quarter for the difference between estimates and actual results that become available.
Costs of Goods Sold	Costs of goods sold consists primarily of the direct costs of the Company’s products acquired from third-party manufacturers as well as certain royalties owed on certain of the Company’s products. Shipping and handling costs are also included in costs of goods sold for all periods presented.
Stock-Based Compensation	Aytu accounts for stock-based payments by recognizing compensation expense based upon the estimated fair value of the awards on the date of grant over the period of service. Stock option grants are valued on the grant date using the Black-Scholes option pricing model and recognizes compensation costs ratably over the period of service using the graded method. Restricted stock grants are valued based on the estimated grant date fair value of the Company’s common stock, and recognized ratable over the requisite service period. Forfeitures are adjusted for as they occur.
Research and Development	Research and development costs are expensed as incurred with expenses recorded in the respective period.
Patents	Costs of establishing patents, consisting of legal and filing fees paid to third parties, are expensed as incurred. The cost of the Luoxis patents; which relates to the RedoxSYS and MiOXSYS products; were $380,000 when they were acquired in connection with the 2013 formation of Luoxis and are being amortized over the remaining U.S. patent lives of approximately 15 years, which expires in March 2028.
Income Taxes	Deferred tax assets and liabilities are recognized based on the difference between the carrying amounts of assets and liabilities in the financial statements and their respective tax bases. Deferred tax assets and liabilities are measured using currently enacted tax rates in effect in the years in which those temporary differences are expected to reverse. Deferred tax assets should be reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. At June 30, 2019 and 2018, respectively, the Company had recorded a valuation allowance against its deferred tax assets of $23.3 million $16.7 million, respectively.
Net Loss Per Common Share	Basic income (loss) per common share is calculated by dividing the net income (loss) available to the common shareholders by the weighted average number of common shares outstanding during that period. Diluted net loss per share reflects the potential of securities that could share in the net loss of Aytu. Basic and diluted loss per share was the same in 2019 and 2018, they were not included in the calculation of the diluted net loss per share because they would have been anti-dilutive. The following table sets-forth securities that could be potentially dilutive, but as of the years ended June 30, 2019 and 2018 are anti-dilutive, and therefore excluded from the calculation of diluted earnings per share. Year Ended June 30, 2019 2018 Warrants to purchase common stock - liability classified (Note 13) 221,006 221,006 Warrant to purchase common stock - equity classified (Note 13) 16,238,657 1,661,655 Employee stock options (Note 12) 1,607 1,798 Employee unvested restricted stock (Note 12) 2,551,024 38,740 Convertible preferred stock (Note 11) 3,594,981 – 22,607,275 1,923,199
Adoption of Newly Issued Accounting Pronouncements	Adoption of New Accounting Pronouncements Revenue from Contracts with Customers (“ASU 2014-09”). In May 2014, the FASB issued ASU 2014-09, Topic 606, Revenue from Contracts with Customers Contracts with Customers Effective July 1, 2018, the Company adopted ASC 606 through the modified retrospective method and did not result in a cumulative adjustment to retained earnings or accumulated deficit as of the adoption date. This is due to the fact that the impact of adopting the new standard is not significant as it relates to historical revenues, future revenues, or accounting for incremental costs of obtaining contracts with our customers. We adopted the new standard through applying the following conclusions (resulting from a thorough analysis of all contract types): (1) The new guidance did not materially change our existing policy and practice for identifying contracts with customers, nor did it give rise to changes to our existing policy and practice or create new concern surrounding the collectability of our receivables from customers, (2) none of our contracts with customers contain multiple performance obligations that are not fulfilled at the same time, (3) the new guidance did not change our existing policy and practice regarding the recording of variable consideration, and (4) we did not identify any customer acquisition costs that are incremental and that are expected to be recovered at a future time. As mentioned above, the modified retrospective method of transition did not result in a cumulative adjustment as of July 1, 2018. The Company did not utilize either the (i) significant financing component practical expedient, or the (ii) contract cost practical expedient, as these did not apply to the Company's contracts, and there was no impact to the financial statements. Additionally, no other line items in the statement of operations or the balance sheet reflect any changes due to the adoption of the new standard. Adoption of the standards related to revenue recognition had no impact to cash from or used in operating, financing, or investing on our consolidated cash flows statement. 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. Early adoption is permitted upon issuance of ASU 2018-13. An entity is permitted to early adopt any removed or modified disclosures upon issuance of ASU 2018-13 and delay adoption of the additional disclosures until their effective date. The Company is currently assessing the impact that ASU 2018-13 will have on its financial statements. Financial Instruments – Credit Losses (“ASU 2016-03”). Leases (“ASU 2016-02”). Topic 842 Leases. Future minimum lease obligations for leases accounted for as operating leases at June 30, 2019 totaled approximately $0.3 million. While the Company has not yet completed its evaluation, it anticipates that the adoption of ASU 2016-02 will require the Company to recognize approximately $0.4 - $0.5 million of right-to-use assets and related lease liabilities related to the Company’s corporate office leases. The Company has not yet completed its determination whether leases qualify as (i) operating or (ii) financing under the new standard. The Company has elected to apply the short-term scope exception for leases with terms of 12 months or less at the inception of the lease, and will continue to recognize rent expense on a straight-line basis. The impact from electing this scope exception is expected to be less than $0.1 million.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Schedules of concentration of business risk	Year Ended June 30, 2019 2018 Customer A 19 % 32 % Customer C 26 % 30 % Customer B 20 % 24 % Customer D 22 % 0 % Year Ended June 30, 2019 2018 Customer A 9 % 27 % Customer B 20 % 19 % Customer C 36 % 35 % Customer E 23 % 0 % Other 0 % 12 %
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Year Ended June 30, 2019 2018 Warrants to purchase common stock - liability classified (Note 13) 221,006 221,006 Warrant to purchase common stock - equity classified (Note 13) 16,238,657 1,661,655 Employee stock options (Note 12) 1,607 1,798 Employee unvested restricted stock (Note 12) 2,551,024 38,740 Convertible preferred stock (Note 11) 3,594,981 – 22,607,275 1,923,199

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	12 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule product revenues by geographic location	Year Ended June 30, 2019 2018 U.S. 6,462,000 3,213,000 International 858,000 447,000 Total net revenue 7,320,000 3,660,000

Product Licenses (Tables)

Product Licenses (Tables)	12 Months Ended
	Jun. 30, 2019
Natesto [Member]
Business Description And Basis Of Presentation [Line Items]
Schedule of estimated future amortization	Year-Ended June 30, 2020 1,319,000 2021 1,319,000 2022 1,319,000 2023 1,319,000 2024 1,318,000 $ 6,594,000
ZolpiMist [Member]
Business Description And Basis Of Presentation [Line Items]
Schedule of estimated future amortization	Year Ended June 30, 2020 464,000 2021 464,000 2022 464,000 2023 464,000 2024 464,000 Thereafter 424,000 $ 2,744,000
Tuzistra XR [Member]
Business Description And Basis Of Presentation [Line Items]
Schedule of estimated future amortization	Year Ended June 30, 2020 493,000 2021 493,000 2022 493,000 2023 493,000 2024 493,000 Thereafter 7,059,000 $ 9,524,000

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Schedule of inventory balances	June 30, 2019 2018 Raw materials $ 117,000 $ 239,000 Finished goods 1,323,000 1,100,000 $ 1,440,000 $ 1,339,000

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of fixed assets and depreciation expense	Estimated June 30, Useful Lives in years 2019 2018 Manufacturing equipment 2 - 5 $ 83,000 $ 213,000 Leasehold improvements 3 112,000 112,000 Office equipment, furniture and other 2 - 5 315,000 344,000 Lab equipment 3 - 5 90,000 90,000 Less accumulated depreciation and amortization (396,000 ) (540,000 ) Fixed assets, net $ 204,000 $ 219,000

Patents (Tables)

Patents (Tables)	12 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of patents	June 30, 2019 2018 Patents $ 380,000 $ 380,000 Less accumulated amortization (159,000 ) (134,000 ) Patents, net $ 221,000 $ 246,000
Schedule of amortization expense	Fiscal Year Year Ended June 30, 2020 $ 25,000 2021 25,000 2022 25,000 2023 25,000 2024 25,000 Thereafter 96,000 $ 221,000

Accrued liabilities (Tables)

Accrued liabilities (Tables)	12 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
Summary of Accrued liabilities	June 30, 2019 2018 Accrued accounting fee 85,000 71,000 Accrued legal-related fees − 26,000 Accrued program liabilities 736,000 − Accrued product-related fees 295,000 − Customer overpayment − 43,000 Other accrued liabilities* 32,000 46,000 Total accrued liabilities $ 1,148,000 $ 186,000

Fair Value Considerations (Tabl

Fair Value Considerations (Tables)	12 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basis	Fair Value Measurements at June 30, 2019 Fair Value at June 30, 2019 Quoted Priced in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs(Level 2) Significant Unobservable Inputs(Level 3) Recurring: Warrant derivative liability 13,000 $ - $ - $ 13,000 Contingent consideration 23,326,000 $ - $ - $ 23,326,000 23,339,000 - - 23,339,000 Fair Value Measurements at June 30, 2018 Fair Value at June 30, 2018 Quoted Priced in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs(Level 2) Significant Unobservable Inputs(Level 3) Recurring: Warrant derivative liability 94,000 $ - $ - $ 94,000 Contingent consideration 4,694,000 $ - $ - $ 4,694,000 4,788,000 - - 4,788,000
Schedule of significant assumptions in valuing the warrant derivative liability	As of June 30, 2019 As of June 30, 2018 At Issuance Warrant Derivative Liability Volatility 163.2 % 173.4 % 188.0 % Equivalent term (years) 3.13 4.13 5.00 Risk-free interest rate 1.71 % 2.69 % 1.83 % Dividend yield 0.00 % 0.00 % 0.00 %
Schedule of reconciliation of changes in the warrant derivative liability	Liability Classified Warrants Balance as of June 30, 2017 $ - Warrant issuances 4,118,000 Warrant exercises (40,000 ) Change in fair value included in earnings (3,984,000 ) Balance as of June 30, 2018 $ 94,000 Change in fair value included in earnings (81,000 ) Balance as of June 30, 2019 $ 13,000
Schedule of changes in the contingent consideration	Contingent Consideration Balance as of June 30, 2016 $ 3,869,000 Increase due to purchase of assets 1,927,000 Increase due to accretion 306,000 Increase due to remeasurement 2,256,000 Decrease due to impairment (710,000 ) Balance as of June 30, 2017 $ 7,648,000 Increase due to purchase of assets 2,846,000 Increase due to accretion 801,000 Decrease due to contractual payment (266,000 ) Decrease due to remeasurement (6,335,000 ) Balance as of June 30, 2018 $ 4,694,000 Increase due to purchase of assets 8,833,000 Increase due to accretion 516,000 Decrease due to contractual payment (548,000 ) Increase due to remeasurement 9,831,000 Balance as of June 30, 2019 $ 23,326,000
Schedule of assumption for valuing contingent consideration	As of June 30, 2019 As of June 30, 2018 Natesto Relevered Beta 0.83 0.99 Maket risk premium 5.50 % 5.50 % Risk-free interest rate 3.50 % 4.00 % Discount 10.20 % 10.40 % As of June 30, 2019 As of June 30, 2018 ZolpiMist Relevered Beta 1.16 1.07 Maket risk premium 5.50 % 5.00 % Risk-free interest rate 3.50 % 3.50 % Discount 10.20 % 10.40 % As of June 30, 2019 At Issuance Tuzistra Relevered Beta 1.19 1.49 Maket risk premium 5.50 % 5.00 % Risk-free interest rate 3.50 % 3.50 % Discount 20.20 % 20.40 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	June 30, 2019 2018 Benefit at statutory rate (5,698,000 ) -21.00 % (2,807,000 ) -12.47 % State income taxes, net of federal benefit (1,077,000 ) -3.97 % (585,000 ) -2.60 % Stock based compensation 3,000 0.01 % 22,000 0.10 % Contingent consideration - 0.00 % (465,000 ) -2.07 % Change in tax rate 12,000 0.04 % (31,000 ) -0.14 % Remeasurement of deferred taxes - 0.00 % 6,648,000 29.54 % Effect of phased-in tax rate - 0.00 % 891,000 3.96 % Change in valuation allowance 6,584,000 24.27 % (2,745,000 ) -12.20 % Derivative income (16,000 ) -0.06 % (1,029,000 ) -4.57 % Other 192,000 0.72 % 101,000 0.45 % Net income tax provision (benefit) - 0.00 % - 0.00 %
Schedule of Deferred Tax Assets and Liabilities	June 30, 2019 2018 Deferred tax assets (liabilities): Accrued expenses 234,000 136,000 Net operating loss carry forward 18,085,000 14,458,000 Intangibles 3,377,000 651,000 Share-based compensation 1,210,000 1,044,000 Fixed assets 86,000 139,000 Capital loss carry forward 203,000 204,000 Contribution carry forward 31,000 29,000 Warrant liability 51,000 53,000 Inventory 25,000 4,000 Total deferred income tax assets 23,302,000 16,718,000 Less: Valuation allowance (23,302,000 ) (16,718,000 ) Net deferred income tax assets - -

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	12 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of significant assumptions used in valuing options/warrants issued	As of June 30, 2019 Expected volatility 164.0 % Expected term (years) 5.00 Risk-free interest rate 2.99 % Dividend yield 0.00 %
Schedule of stock option activity	Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Outstanding June 30, 2017 1,947 $ 326.20 8.40 Granted – – Exercised – – Forfeited/Cancelled (149 ) 328.00 Outstanding June 30, 2018 1,798 325.97 6.95 Granted 75,000 1.00 Exercised – – Forfeited/Cancelled (75,036 ) 1.16 Expired (155 ) 328.00 Outstanding June 30, 2019 1,607 325.73 6.13 Exercisable at June 30, 2019 1,471 $ 325.52 6.07 The following table details the options outstanding at June 30, 2019 by range of exercise prices: Range of Exercise Prices Number of Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Life of Options Outstanding Number of Options Exercisable Weighted Average Exercise Price $ 280.00 76 $ 280.00 7.85 76 $ 280.00 $ 328.00 1,531 $ 328.00 6.05 1,395 $ 328.00 1,607 $ 325.73 6.13 1,471 $ 325.52
Schedule of restricted stock activity	Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Life in Years Unvested at June 30, 2017 – $ – – Granted 39,150 $ 39.80 Vested – $ 40.40 Forfeited (1,950 ) $ 40.40 Unvested at June 30, 2018 37,200 $ 39.80 9.4 Granted 2,772,022 $ 1.30 Vested – – Forfeited (463,008 ) $ 1.23 Unvested at June 30, 2019 2,346,214 $ 1.83 9.1
Schedule of stock-based compensation expense	Selling, general and administrative: 2019 2018 Stock options $ 125,000 $ 349,000 Restricted stock 897,000 248,000 Total stock-based compensation expense $ 1,022,000 $ 597,000

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Schedule of all warrants	Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Outstanding June 30, 2017 14,342 $ 1,005.80 4.23 Warrants issued in connection with the August 2017 private offering 296,006 $ 72.00 Warrants issued to underwriters in connection with the August 2017 private offering 19,749 $ 72.00 Warrants issued in connection with the March 2018 public offering 1,533,356 $ 10.80 Warrants issued to investor 100,000 $ 10.80 Warrants expired (42 ) $ 21,744.00 Warrants exercised (80,750 ) $ 8.20 Outstanding June 30, 2018 1,882,661 $ 25.94 4.61 Warrants issued in connection with the October 2018 public offering 10,120,000 $ 1.50 Warrants issued to underwriters in connection with the October 2019 public offering 303,600 $ 1.50 Warrants issued in connection with the Armistice debt exchange 4,403,409 $ 1.00 Warrants exercised (250,007 ) $ 1.50 Outstanding June 30, 2019 16,459,663 $ 4.16 4.34

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of commitments and contingencies	Total 2020 2021 2022 2023 2024 Thereafter Prescription database $ 1,613,000 $ 567,000 $ 534,000 $ 512,000 $ - $ - $ - Product Milestone Payments 5,500,000 - - - 5,500,000 - - Office leases 494,000 112,000 113,000 118,000 121,000 30,000 - $ 7,607,000 $ 679,000 $ 647,000 $ 630,000 $ 5,621,000 $ 30,000 $ -

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
SalesRevenueNetMember | CustomerOne
Percentage of concentration risk	19.00%	32.00%
SalesRevenueNetMember | CustomerTwo
Percentage of concentration risk	26.00%	30.00%
SalesRevenueNetMember | CustomerThree
Percentage of concentration risk	20.00%	19.00%
SalesRevenueNetMember | Customer Four [Member]
Percentage of concentration risk	22.00%	0.00%
AccountsReceivableMember | CustomerOne
Percentage of concentration risk	9.00%	27.00%
AccountsReceivableMember | CustomerTwo
Percentage of concentration risk	20.00%	19.00%
AccountsReceivableMember | CustomerThree
Percentage of concentration risk	36.00%	35.00%
AccountsReceivableMember | Customer Four [Member]
Percentage of concentration risk	23.00%	0.00%
AccountsReceivableMember | Other
Percentage of concentration risk	0.00%	12.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share	22,607,275	1,923,199
Warrants to purchase common stock - liability classified
Antidilutive Securities Excluded from Computation of Earnings Per Share	221,006	221,006
Warrant to purchase common stock - equity classified
Antidilutive Securities Excluded from Computation of Earnings Per Share	16,238,657	1,661,655
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share	1,607	1,798
Employee unvested restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share	2,551,024	38,740
ConvertiblePreferredStock
Antidilutive Securities Excluded from Computation of Earnings Per Share	3,594,981

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Total net revenue	$ 7,320,000	$ 3,660,000
U.S.
Total net revenue	6,462,000	3,213,000
Rest-of-the-World
Total net revenue	$ 858,000	$ 447,000

Product Licenses (Details)

Product Licenses (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Total	$ 220,611	$ 245,944
Natesto [Member]
2020	1,319,000
2021	1,319,000
2022	1,319,000
2023	1,319,000
2024	1,318,000
Total	6,594,000
ZolpiMist [Member]
2020	464,000
2021	464,000
2022	464,000
2023	464,000
2024	464,000
Thereafter	424,000
Total	2,744,000
Tuzistra XR [Member]
2020	493,000
2021	493,000
2022	493,000
2023	493,000
2024	493,000
Thereafter	7,059,000
Total	$ 9,524,000

Inventories (Details)

Inventories (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 117,000	$ 239,000
Finished goods, net	1,323,000	1,100,000
Total inventory	$ 1,440,069	$ 1,338,973

Fixed Assets (Details)

Fixed Assets (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Less accumulated depreciation and amortization	$ (396,000)	$ (540,000)
Fixed assets, net	203,733	218,684
Manufacturing Equipment [Member]
Fixed assets, gross	$ 83,000	213,000
Manufacturing Equipment [Member] | Minimum [Member]
Estimated useful lives in years	2 years
Manufacturing Equipment [Member] | Maximum [Member]
Estimated useful lives in years	5 years
Leasehold Improvements [Member]
Estimated useful lives in years	3 years
Fixed assets, gross	$ 112,000	112,000
Office Equipment, Furniture and Other [Member]
Fixed assets, gross	$ 315,000	344,000
Office Equipment, Furniture and Other [Member] | Minimum [Member]
Estimated useful lives in years	2 years
Office Equipment, Furniture and Other [Member] | Maximum [Member]
Estimated useful lives in years	5 years
Lab Equipment [Member]
Fixed assets, gross	$ 90,000	$ 90,000
Lab Equipment [Member] | Minimum [Member]
Estimated useful lives in years	3 years
Lab Equipment [Member] | Maximum [Member]
Estimated useful lives in years	5 years

Fixed Assets (Details Narrative

Fixed Assets (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 100,000	$ 300,000

Patents (Details)

Patents (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Patents	$ 380,000	$ 380,000
Less accumulated amortization	(159,000)	(134,000)
Patents, net	$ 220,611	$ 245,944

Patents (Details 1)

Patents (Details 1) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Future amortization expense, Total	$ 220,611	$ 245,944
Patents [Member]
2020	25,000
2021	25,000
2022	25,000
2023	25,000
2024	25,000
Thereafter	96,000
Future amortization expense, Total	$ 221,000

Accrued liabilities (Details)

Accrued liabilities (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Payables and Accruals [Abstract]
Accrued accounting fee	$ 85,000	$ 71,000
Accrued legal-related fees	0	26,000
Accrued program liabilities	736,000	0
Accrued product-related fees	295,000	0
Customer overpayment	0	43,000
Other accrued liabilities	32,000	46,000
Total accrued liabilities	$ 1,148,000	$ 186,000

Fair Value Considerations (Deta

Fair Value Considerations (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Warrant derivative liability	$ 13,201	$ 93,981
Contingent consideration	23,326,000	4,694,000	$ 7,648,000	$ 3,869,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Warrant derivative liability	0	0
Contingent consideration	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Warrant derivative liability	0	0
Contingent consideration	0	0
Level 3 [Member | Fair Value, Measurements, Recurring [Member]
Warrant derivative liability	13,000	94,000
Contingent consideration	$ 23,326,000	$ 4,694,000

Fair Value Considerations (De_2

Fair Value Considerations (Details 1) - Warrant [Member]	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Volatility	163.20%	173.40%
Equivalent term (years)	3 years 1 month 17 days	4 years 1 month 17 days
Risk-free interest rate	1.71%	2.69%
Dividend yield	0.00%	0.00%
At Issuance [Member]
Volatility	188.00%
Equivalent term (years)	5 years
Risk-free interest rate	1.83%
Dividend yield	0.00%

Fair Value Considerations (De_3

Fair Value Considerations (Details 2) - Level 3 [Member - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Beginning balance	$ 94,000	$ 0
Warrant issuances	0	4,118,000
Warrant exercises	0	(40,000)
Change in fair value included in earnings	(81,000)	(3,984,000)
Ending balance	$ 13,000	$ 94,000

Fair Value Considerations (De_4

Fair Value Considerations (Details 3) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Beginning balance	$ 4,694,000	$ 7,648,000	$ 3,869,000
Increase due to purchase of assets	8,833,000	2,846,000	1,927,000
Increase due to accretion	516,000	801,000	306,000
Increase (Decrease) due to remeasurement	9,831,000	(6,335,000)	2,256,000
Decrease due to impairment	0	0	(710,000)
Decrease due to contractual payment	(548,000)	(266,000)	0
Ending balance	$ 23,326,000	$ 4,694,000	$ 7,648,000

Fair Value Considerations (De_5

Fair Value Considerations (Details 4)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Natesto [Member]
Relevered beta	0.83	0.99
Maket risk premium	5.50%	5.50%
Risk-free interest rate	3.50%	4.00%
Discount	10.20%	10.40%
ZolpiMist [Member]
Relevered beta	1.16	1.07
Maket risk premium	5.50%	5.00%
Risk-free interest rate	3.50%	3.50%
Discount	10.20%	10.40%
Tuzistra XR [Member]
Relevered beta	1.19	1.49
Maket risk premium	5.50%	5.00%
Risk-free interest rate	3.50%	3.50%
Discount	20.20%	20.40%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Schedule of income tax benefit resulting from applying statutory rates
Benefit at statutory rate	$ (5,698,000)	$ (2,807,000)
Benefit at statutory rate, percentage	(21.00%)	12.47%
State income taxes, net of federal benefit	$ (1,077,000)	$ (585,000)
State income taxes, net of federal benefit, percentage	(3.97%)	(2.60%)
Stock based compensation	$ 3,000	$ 22,000
Stock based compensation, percentage	0.01%	0.10%
Contingent consideration	$ 0	$ (465,000)
Contingent consideration, percentage	0.00%	(2.07%)
Change in tax rate	$ 12,000	$ (31,000)
Change in tax rate, percentage	0.04%	(0.14%)
Remeasurement of deferred taxes	$ 0	$ 6,648,000
Remeasurement of deferred taxes, percentage	0.00%	29.54%
Effect of phased-in tax rate	$ 0	$ 891,000
Effect of phased-in tax rate, percentage	0.00%	3.96%
Change in valuation allowance	$ 6,584,000	$ (2,745,000)
Change in valuation allowance, percentage	24.27%	(12.20%)
Derivative income	$ (16,000)	$ (1,029,000)
Derivative income, percentage	(0.06%)	(4.57%)
Other	$ 192,000	$ 101,000
Other, percentage	0.72%	0.45%
Net income tax provision (benefit)	$ 0	$ 0
Net income tax provision (benefit), percentage	0.00%	0.00%

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Deferred tax assets (liabilities):
Accrued expenses	$ 234,000	$ 136,000
Net operating loss carry forward	18,085,000	14,458,000
Intangibles	3,377,000	651,000
Share-based compensation	1,210,000	1,044,000
Fixed assets	86,000	139,000
Capital loss carry forward	203,000	204,000
Contribution carry forward	31,000	29,000
Warrant liability	51,000	53,000
Inventory	25,000	4,000
Total deferred income tax assets	23,302,000	16,718,000
Less: Valuation allowance	(23,302,000)	(16,718,000)
Net deferred income tax assets	$ 0	$ 0

Capital Structure (Details Narr

Capital Structure (Details Narrative) - $ / shares	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Preferred stock, par value	$ .0001	$ .0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	3,594,981	0
Preferred stock, shares outstanding	3,594,981	0
Common stock, par value	$ .0001	$ .0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	17,538,071	1,794,762
Common stock, shares outstanding	17,538,071	1,794,762

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - Stock Options [Member]	12 Months Ended
	Jun. 30, 2019
Expected volatility	164.00%
Risk-free interest rate	2.99%
Equivalent term (years)	5 years
Dividend yield	0.00%

Equity Incentive Plan (Details

Equity Incentive Plan (Details 1) - Equity Option [Member] - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Number of Options
Number of options outstanding, beginning balance	1,798	1,947
Number of options, granted	75,000	0
Number of options, exercised	0	0
Number of options, forfeited/cancelled	(75,036)	(149)
Number of options, expired	(155)
Number of options outstanding, ending balance	1,607	1,798
Number of options, exercisable	1,471
Weighted Average Exercise Price
Weighted average exercise price, beginning balance	$ 325.97	$ 326.2
Weighted average exercise price, granted	1	0
Weighted average exercise price, exercised	0	0
Weighted average exercise price, forfeited/cancelled	1.16	328
Weighted average exercise price, expired	328	0
Weighted average exercise price, ending balance	325.73	$ 325.97
Weighted average exercise price, exercisable	$ 325.52
Weighted Average Remaining Contractual Life in Years
Weighted average remaining contractual life in years, outstanding, beginning balance	6 years 11 months 12 days	8 years 4 months 24 days
Weighted average remaining contractual life in years, outstanding, ending balance	6 years 1 month 17 days	6 years 11 months 12 days
Weighted average remaining contractual life in years, exercisable	6 years 25 days

Equity Incentive Plan (Detail_2

Equity Incentive Plan (Details 2)	12 Months Ended
	Jun. 30, 2019$ / sharesshares
Number of Options Outstanding | shares | shares	1,607
Weighted Average Exercise Price	$ 325.73
Weighted Average Remaining Contractual Life of Options Outstanding	6 years 1 month 17 days
Number of Options Exercisable | shares | shares	1,471
Weighted Average Exercise Price	$ 325.52
Exercise Price Range One [Member]
Range of Exercise Prices	$ 280
Number of Options Outstanding | shares | shares	76
Weighted Average Exercise Price	$ 280
Weighted Average Remaining Contractual Life of Options Outstanding	7 years 10 months 6 days
Number of Options Exercisable | shares | shares	76
Weighted Average Exercise Price	$ 280
Exercise Price Range Two [Member]
Range of Exercise Prices	$ 328
Number of Options Outstanding | shares | shares	1,531
Weighted Average Exercise Price	$ 328
Weighted Average Remaining Contractual Life of Options Outstanding	6 years 18 days
Number of Options Exercisable | shares | shares	1,395
Weighted Average Exercise Price	$ 328

Equity Incentive Plan (Detail_3

Equity Incentive Plan (Details 3) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Number of Shares
Unvested, beginning balance	37,200	0
Granted	2,772,022	39,150
Vested	0	0
Forfeited	(463,008)	(1,950)
Unvested, ending balance	2,346,214	37,200
Weighted Average Grant Date Fair Value
Unvested, beginning balance	$ 39.8	$ 0
Vested	1.30	39.8
Granted	0	40.4
Cancelled	1.23	40.4
Unvested, ending balance	$ 1.83	$ 39.8
Weighted Average Remaining Contractual Life in Years
Unvested beginning, weighted average remaining contractual life in years	9 years 4 months 24 days
Unvested ending, weighted average remaining contractual life in years	9 years 1 month 6 days	9 years 4 months 24 days

Equity Incentive Plan (Detail_4

Equity Incentive Plan (Details 4) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Total share-based compensation expense	$ 1,022,000	$ 597,000
Restricted Stock [Member]
Total share-based compensation expense	897,000	248,000
Employee Stock Option [Member]
Total share-based compensation expense	$ 125,000	$ 349,000

Warrants (Details)

Warrants (Details) - Warrant [Member] - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Number of Warrants
Number of warrants, outstanding beginning balance	1,882,661	14,342
Warrants issued in connection with the August 2017 private offering	0	296,006
Warrants issued to underwriters in connection with the August 2017 private offering	0	19,749
Warrants issued in connection with the March 2018 public offering	0	1,533,356
Warrants issued in connection with the October 2018 public offering	10,120,000	0
Warrants issued to underwriters in connection with the October 2019 public offering	303,600	0
Warrants issued in connection with the Armistice debt exchange	4,403,409	0
Warrants issued to investor	0	100,000
Warrants expired	0	(42)
Warrants exercised	(250,007)	(80,750)
Number of warrants outstanding, ending balance	16,459,663	1,882,661
Weighted Average Exercise Price
Weighted average exercise price, beginning balance	$ 25.94	$ 1,005.80
Warrants issued in connection with the August 2017 private offering	0	72
Warrants issued to underwriters in connection with the August 2017 private offering	0	72
Warrants issued in connection with the March 2018 public offering	0	10.8
Warrants issued in connection with the October 2018 public offering, exercise price	1.50	0
Warrants issued to underwriters in connection with the October 2019 public offering, exercise price	1.50	0
Warrants issued in connection with the Armistice debt exchange, exercise price	1	0
Warrants issued to investor	0	10.8
Warrants expired	0	21,744
Warrants exercised	1.5	8.2
Weighted average exercise price, ending balance	$ 4.16	$ 25.94
Weighted Average Remaining Contractual Life in Years
Weighted average remaining contractual life in years, outstanding, beginning balance	4 years 7 months 10 days	4 years 2 months 23 days
Weighted average remaining contractual life in years, outstanding, ending balance	4 years 4 months 2 days	4 years 7 months 10 days

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Jun. 30, 2019USD ($)
2020	$ 679,000
2021	647,000
2022	630,000
2023	5,621,000
2024	30,000
Thereafter	0
Total	7,607,000
Prescription Database [Member]
2020	567,000
2021	534,000
2022	512,000
2023	0
2024	0
Thereafter	0
Total	1,613,000
Milestone Payments [Member]
2020	0
2021	0
2022	0
2023	5,500,000
2024	0
Thereafter	0
Total	5,500,000
Office Lease [Member]
2020	112,000
2021	113,000
2022	118,000
2023	121,000
2024	30,000
Thereafter	0
Total	$ 494,000