Aytu BioPharma (AYTU) 10-Q 12 Nov 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2020	Nov. 01, 2020
Cover [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-Q
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Is Entity's Reporting Status Current?	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity File Number	001-38247
Entity Common Stock, Shares Outstanding		127,928,522

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Current assets
Cash and cash equivalents	$ 37,911,065	$ 48,081,715
Restricted cash	251,778	251,592
Accounts receivable, net	6,111,911	5,175,924
Inventory, net	11,479,557	9,999,441
Prepaid expenses and other	3,681,401	5,715,089
Other current assets	6,017,888	5,742,011
Total current assets	65,453,600	74,965,772
Fixed assets, net	106,153	258,516
Right-of-use-asset	334,289	634,093
Licensed assets, net	16,018,064	16,586,847
Patents and tradenames, net	10,639,080	11,081,048
Product technology rights, net	20,619,166	21,186,666
Deposits	9,900	32,981
Goodwill	28,090,407	28,090,407
Total long-term assets	75,817,059	77,870,558
Total assets	141,270,659	152,836,330
Current liabilities
Accounts payable and other	5,773,768	11,824,560
Accrued liabilities	8,692,693	7,849,855
Accrued compensation	1,967,035	3,117,177
Debt	930,416	982,076
Contract liability	232,576	339,336
Current lease liability	97,458	300,426
Current portion of fixed payment arrangements	2,138,514	2,340,166
Current portion of CVR liabilities	954,800	839,734
Current portion of contingent consideration	718,647	713,251
Total current liabilities	21,505,907	28,306,581
Long-term contingent consideration, net of current portion	13,058,876	12,874,351
Long-term lease liability, net of current portion	237,497	725,374
Long-term fixed payment arrangements, net of current portion	10,679,903	11,171,491
Long-term CVR liabilities, net of current portion	4,714,359	4,731,866
Other long-term liabilities	11,371	11,371
Total liabilities	50,207,913	57,821,034
Commitments and contingencies (Note 10)
Stockholders' equity
Preferred Stock, par value $.0001; 50,000,000 shares authorized; shares issued and outstanding 0 and 0, respectively as of September 30, 2020 and June 30, 2020, respectively	0	0
Common Stock, par value $.0001; 200,000,000 shares authorized; shares issued and outstanding 125,837,357 and 125,837,357 respectively as of September 30, 2020 and June 30, 2020	12,584	12,584
Additional paid-in capital	215,366,272	215,012,891
Accumulated deficit	(124,316,110)	(120,010,179)
Total stockholders' equity	91,062,746	95,015,296
Total liabilities and stockholders' equity	$ 141,270,659	$ 152,836,330

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Jun. 30, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	125,837,357	125,837,357
Common stock, shares outstanding	125,837,357	125,837,357

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Revenues
Product revenue, net	$ 13,520,246	$ 1,439,826
Operating expenses
Cost of sales	3,819,156	375,720
Research and development	182,865	78,020
Selling, general and administrative	11,490,370	5,146,443
Amortization of intangible assets	1,584,581	575,117
Total operating expenses	17,076,972	6,175,300
Loss from operations	(3,556,726)	(4,735,474)
Other (expense) income
Other (expense), net	(751,541)	(195,386)
Gain from change in fair value of contingent consideration	2,336	0
Gain from warrant derivative liability	0	1,830
Total other (expense) income	(749,205)	(193,556)
Net loss	$ (4,305,931)	$ (4,929,030)
Weighted average number of common shares outstanding	121,585,939	15,325,921
Basic and diluted net loss per common share	$ (0.04)	$ (0.32)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Beginning balance, shares at Jun. 30, 2019	3,594,981	17,538,071
Beginning balance, amount at Jun. 30, 2019	$ 359	$ 1,754	$ 113,475,205	$ (106,389,500)	$ 7,087,818
Stock-based compensation			165,171		165,171
Preferred stock converted into common stock, shares	(443,833)	443,833
Preferred stock converted into common stock, amount	$ (44)	$ 44			0
Net loss				(4,929,030)	(4,929,030)
Ending balance, shares at Sep. 30, 2019	3,151,148	17,981,904
Ending balance, amount at Sep. 30, 2019	$ 315	$ 1,798	113,640,376	(111,318,530)	2,323,959
Beginning balance, shares at Jun. 30, 2020	0	125,837,357
Beginning balance, amount at Jun. 30, 2020	$ 0	$ 12,584	215,012,891	(120,010,179)	95,015,296
Stock-based compensation			454,918		454,918
Issuance costs			(101,537)		(101,537)
Net loss				(4,305,931)	(4,305,931)
Ending balance, shares at Sep. 30, 2020	3,151,148	125,837,357
Ending balance, amount at Sep. 30, 2020	$ 315	$ 12,584	$ 215,366,272	$ (124,316,110)	$ 91,062,746

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (4,305,931)	$ (4,929,030)
Adjustments to reconcile net loss to cash used in operating activities
Depreciation, amortization and accretion	2,092,618	869,312
Stock-based compensation expense	454,918	165,171
Loss (gain) from change in fair value of contingent consideration	(99,895)	0
Loss on sale of equipment	112,110	0
Gain on termination of lease	(343,185)	0
Changes in allowance for bad debt	408	0
Loss (gain) from change in fair value of CVR	97,559	0
Derivative income	0	(1,830)
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(928,895)	35,359
(Increase) decrease in inventory	(1,480,116)	59,340
Decrease in prepaid expenses and other	2,027,358	384,582
(Increase) in other current assets	(237,720)	0
(Decrease) increase in accounts payable and other	(4,519,601)	276,917
Increase in accrued liabilities	412,328	3,441
(Decrease) increase in accrued compensation	(1,150,142)	152,911
(Decrease) in contract liabilities	(106,760)	0
(Decrease) in deferred rent	0	(3,990)
Net cash used in operating activities	(7,974,946)	(2,987,817)
Cash flows used in investing activities
Deposit	2,200	0
Contingent consideration payment	(19,140)	(42,103)
Note receivable	0	(1,000,000)
Net cash used in investing activities	(16,940)	(1,042,103)
Cash flows from financing activities
Issuance cost related to registered offering	(1,632,727)	0
Payments made to borrowings	(136,364)	0
Payments made to fixed payment arrangements	(409,487)	0
Net cash used by financing activities	(2,178,578)	0
Net change in cash, restricted cash and cash equivalents	(10,170,464)	(4,029,920)
Cash, restricted cash and cash equivalents at beginning of period	48,333,307	11,294,227
Cash, restricted cash and cash equivalents at end of period	38,162,843	7,264,307
Supplemental disclosures of cash and non-cash investing and financing transactions
Warrants issued to underwriters	356,139	0
Cash paid for interest	247,869	3,390
Fair value of right-to-use asset and related lease liability	20,438	412,691
Contingent consideration included in accounts payable	0	3,430
Fixed payment arrangements included in accrued liabilities	430,510	0
Acquisition costs included in accounts payable	0	59,014
Exchange of convertible preferred stock into common stock	$ 0	$ 44

Nature of Business, Financial C

Nature of Business, Financial Condition, Basis of Presentation	3 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business, Financial Condition, Basis of Presentation	Nature of Business. The Primary Care Portfolio consists of (i) Natesto®, the only FDA-approved nasal formulation of testosterone for men with hypogonadism (low testosterone, or "Low T"), (ii) ZolpiMist®, the only FDA-approved oral spray prescription sleep aid, and (iii) Tuzistra® XR, the only FDA-approved 12-hour codeine-based antitussive syrup. The Pediatric Care Portfolio, acquired on November 1, 2019, (the “Pediatric Portfolio”), includes (i) Poly-Vi-Flor and Tri-Vi-Flor, two complementary prescription fluoride-based supplement product lines containing combinations of fluoride and vitamins in various for infants and children with fluoride deficiency, (ii) Cefaclor, a second-generation cephalosporin antibiotic suspension; and (iii) Karbinal ER, an extended-release carbinoxamine (antihistamine) suspension indicated to treat numerous allergic conditions. On February 14, 2020, the Company acquired Innovus Pharmaceuticals Inc. (“Innovus”), a specialty pharmaceutical company commercializing, licensing and developing safe and effective consumer healthcare products designed to improve health and vitality. Innovus commercializes twenty-two consumer health products competing in large healthcare categories including diabetes, men's health, sexual wellness and respiratory health. The Consumer Health Portfolio is commercialized through direct-to-consumer marketing channels utilizing Innovus’s proprietary Beyond Human® marketing and sales platform and on eCommerce platforms. The Company acquired U.S. distribution rights to a COVID-19 IgG/IgM rapid test. The coronavirus test is a solid phase immunochromatographic assay used in the rapid, qualitative and differential detection of IgG and IgM antibodies to the 2019 Novel Coronavirus in human whole blood, serum or plasma. The rapid test has been validated in multi-center clinical trials. The Company entered into a licensing agreement with Cedars-Sinai Medical Center to secure worldwide rights to various potential uses of Healight, an investigational medical device platform technology. Healight has demonstrated safety and efficacy in pre-clinical studies, and we plan to advance this technology and assess its safety and efficacy in human studies, initially focused on Covid-19 patients. The Company’s strategy is to continue building its portfolio of revenue-generating products, leveraging its commercial team’s expertise to build leading brands within large therapeutic markets. Financial Condition. Revenues for the three-months ended September 30, 2020 were $13.5 million and increased approximately 839% compared to $1.4 million for the three-months ended September 30, 2019. Revenues increased 277% and 100% for each of the years ended June 30, 2020 and 2019, respectively. Revenue is expected to increase over time, which will allow the Company to rely less on our existing cash balance and proceeds from financing transactions. Cash used by operations during the three-months ended September 30, 2020 was $8.0 million compared to $3.0 million for the three-months ended September 30, 2019. The increase is due primarily to an increase in working capital and pay down of other liabilities. As of the date of this Report, the Company expects costs for its current operations to increase modestly as the Company integrates the acquisition of the Pediatrics Portfolio and Innovus and continues to focus on revenue growth through increasing product sales. The Company’s total asset position totaling approximately $141.3 million plus the proceeds expected from ongoing product sales will be used to fund existing operations. The Company may continue to access the capital markets from time-to-time when market conditions are favorable. The timing and amount of capital that may be raised is dependent the terms and conditions upon which investors would require to provide such capital. There is no guarantee that capital will be available on terms favorable to the Company and its stockholders, or at all. The Company raised approximately $6.6 million, net during its fourth quarter ended June 30, 2020 from the sale of new common equity using the Company’s at-the-market facility. There were zero funds raised during the quarter ended September 30, 2020. Between September 30, 2020, and the filing date of this quarterly report on Form 10-Q, the Company raised gross proceeds of approximately $3.1 million upon the issuance of approximately 3.0 million shares of the Company’s common stock under the Company’s at-the-market offering program. As of the date of this report, the Company has adequate capital resources to complete its near-term operating objectives. Since the Company has sufficient cash on-hand as of September 30, 2020 to cover potential net cash outflows for the twelve months following the filing date of this Quarterly Report, the Company reports that there exists no indication of substantial doubt about its ability to continue as a going concern. If the Company is unable to raise adequate capital in the future when it is required, Aytu management 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 commercial programs, reductions in headcount, narrowing the scope of the Company’s commercial plans, or reductions to its research and development programs. Without sufficient operating capital, the Company could be required to relinquish rights to products or renegotiate to maintain such rights on less favorable terms than it would otherwise choose. This may lead to impairment or other charges, which could materially affect the Company’s balance sheet and operating results. Basis of Presentation. Interim Unaudited Condensed Consolidated Financial Statements. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses for the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to the determination of the fair value of equity awards, the fair value of identified assets and liabilities acquired in business combinations, the useful lives of property and equipment, intangible assets, impairment of long-lived and intangible assets, including goodwill, provisions for doubtful accounts receivable, certain accrued expenses, and the discount rate used in measuring lease liabilities. These estimates and assumptions are based on the Company’s historical results and management’s future expectations. Actual results could differ from those estimates. Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 2—Summary of Significant Accounting Policies and Recent Accounting Pronouncements in the Annual Report. There have been no significant changes to these policies that have had a material impact on the Company’s unaudited condensed consolidated financial statements and related notes during the three months ended September 30, 2020. Adoption of New Accounting Pronouncements Fair Value Measurements (“ASU 2018-13”). The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted this as of July 1, 2020, the beginning of the Company’s fiscal year-ended June 30, 2021. The most relevant component of ASU 2018-13 to the Company’s financial statements relates to the need to disclose the range and weighted-average of significant unobservable inputs used in Level 3 fair value measurements. However, the Company discloses on a discrete basis all significant inputs for all Level 3 Fair Value measurements. Recent Accounting Pronouncements Financial Instruments – Credit Losses (“ASU 2016-13”). This Quarterly Report on Form 10-Q does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to the Company’s financial condition, results of operations, cash flows or disclosures.

Acquisitions

Acquisitions	3 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions	The Pediatric Portfolio On October 10, 2019, the Company entered into the Purchase Agreement with Cerecor, Inc. (“Cerecor”) to acquire the Pediatric Portfolio, which closed on November 1, 2019. The Pediatric Portfolio consists of four main prescription products (i) Poly-Vi-Flor® and Tri-Vi-Flor™, (ii) Cefaclor for Oral Suspension, (iii) and Karbinal® ER. Total consideration transferred to Cerecor consisted of $4.5 million cash and approximately 9.8 million shares of Series G Convertible Preferred Stock. The Company also assumed certain of Cerecor’s financial and royalty obligations, and not more than $3.5 million of Medicaid rebates and up to $0.8 million of product returns, of which $3.5 million has been incurred. The Company also retained the majority of Cerecor’s workforce focused on sales, commercial contracts and customer relationships. In addition, the Company assumed Cerecor obligations due to an investor that include fixed and variable payments aggregating to $25.6 million. The Company assumed fixed monthly payments equal to $0.1 million from November 2019 through January 2021 plus $15 million due in January 2021. Monthly variable payments due to the same investor are equal to 15% of net revenue generated from a subset of the Product Portfolio, subject to an aggregate monthly minimum of $0.1 million, except for January 2020, when a one-time payment of $0.2 million was paid to the investor. The variable payment obligation continues until the earlier of: (i) aggregate variable payments of approximately $9.5 million have been made, or (ii) February 12, 2026. In June 2020, the Company paid down a $15 million balloon payment originally owed on January 2021 to reduce the fixed liability. Further, certain of the products in the Product Portfolio require royalty payments ranging from 12% to 15% of net revenue . One of the products in the Product Portfolio requires the Company to generate minimum annual sales sufficient to represent annual royalties of approximately $1.8 million, in the event the minimum sales volume is not satisfied. While no equity was acquired by the Company, the transaction was accounted for as a business combination under the acquisition method of accounting pursuant to Topic 805. Accordingly, the tangible and identifiable intangible assets acquired and liabilities assumed were recorded at fair value as of the date of acquisition, with the remainder of the aggregate purchase price recorded as goodwill. The goodwill recognized is attributable primarily to strategic opportunities related to an expanded commercial footprint and diversified product portfolio that is expected to provide revenue and cost synergies. The following table summarized the preliminary fair value of assets acquired and liabilities assumed at the date of acquisition. These estimates are preliminary, pending final evaluation of certain assets and liabilities, and therefore, are subject to revisions that may result in adjustments to the values presented below: As of November 1, 2019 Consideration Cash and cash equivalents $ 4,500,000 Fair value of Series G Convertible Preferred Stock Total shares issued 9,805,845 Estimated fair value per share of Aytu common stock $ 0.567 Estimated fair value of equity consideration transferred 5,559,914 Total consideration transferred $ 10,059,914 Recognized amounts of identifiable assets acquired and liabilities assumed Inventory, net $ 459,123 Prepaid assets 1,743,555 Other current assets 2,525,886 Intangible assets - product marketing rights 22,700,000 Accrued liabilities (300,000 ) Accrued product program liabilities (6,683,932 ) Assumed fixed payment obligations $ (29,837,853 ) Total identifiable net assets (9,393,221 ) Goodwill $ 19,453,135 The fair values of intangible assets, including product technology rights were determined using variations of the income approach. Varying discount rates were also applied to the projected net cash flows. The Company believes the assumptions are representative of those a market participant would use in estimating fair value (see Note 9). The fair value of the net identifiable asset acquired was determined to be $22.7 million, which is being amortized over ten years. Innovus Merger (Consumer Health Portfolio) On February 14, 2020, the Company completed the Merger with Innovus Pharmaceuticals after approval by the stockholders of both companies on February 13, 2020. Upon the effectiveness of the Merger, the Company merged with and into Innovus, and all outstanding Innovus common stock was exchanged for approximately 3.8 million shares of the Company’s common stock and up to $16 million of Contingent Value Rights (“CVRs”). The outstanding Innovus warrants with cash out rights were exchanged for approximately 2.0 million shares of Series H Convertible Preferred stock of the Company and retired. The remaining Innovus warrants outstanding, those without ‘cash-out’ rights, at the time of the Merger, continue to be outstanding, and upon exercise, retain the right to the merger consideration offered to Innovus stockholders, including any remaining claims represented by CVRs at the time of exercise. Innovus is now a 100% wholly-owned subsidiary of the Company, (“Aytu Consumer Health”). On March 31, 2020, the Company paid out the first CVR Milestone in the form of approximately 1.2 million shares of the Company’s common stock to satisfy the $2.0 million obligation as a result of Innovus achieving the $24 million revenue milestone for the calendar year ended December 31, 2019. As a result of this, the Company recognized a gain of approximately $0.3 million. In addition, as part of the Merger, the Company assumed approximately $3.1 million of notes payable, $0.8 million in lease liabilities, and other assumed liabilities associated with Innovus. Of the $3.1 million of notes payable, approximately $2.2 million was converted into approximately 1.8 million shares of the Company’s common stock since February 14, 2020. Approximately $0.3 million remained outstanding as of September 30, 2020. The following table summarized the preliminary fair value of assets acquired and liabilities assumed at the date of acquisition. These estimates are preliminary, pending final evaluation of certain assets and liabilities, and therefore, are subject to revisions that may result in adjustments to the values presented below: As of February 14, 2020 Consideration Fair Value of Aytu Common Stock Total shares issued at close 3,810,393 Estimated fair value per share of Aytu common stock $ 0.756 Estimated fair value of equity consideration transferred $ 2,880,581 Fair value of Seris H Convertile Preferred Stock Total shares issued 1,997,736 Estimated fair value per share of Aytu common stock $ 0.756 Estimated fair value of equity consideration transferred $ 1,510,288 Fair value of former Innovus warrants $ 15,315 Fair value of Contingent Value Rights $ 7,049,079 Forgiveness of Note Payable owed to the Company $ 1,350,000 Total consideration transferred $ 12,805,263 As of February 14, 2020 Total consideration transferred $ 12,805,263 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 390,916 Accounts receivable, net 278,826 Inventory, net 1,149,625 Prepaid expenses and other current assets 1,692,133 Other long-term assets 36,781 Right-to-use assets 328,410 Property, plant and equipment 190,393 Trademarks and patents 11,744,000 Accounts payable and accrued other expenses (7,202,309 ) Other current liabilities (629,601 ) Notes payable (3,056,361 ) Lease liability (754,822 ) Total identifiable assets $ 4,167,991 Goodwill $ 8,637,272 The fair values of intangible assets, including product distribution rights were determined using variations of the income approach, specifically the relief-from-royalties method. It also includes customer lists using an income approach utilizing a discounted cash flow model. Varying discount rates were also applied to the projected net cash flows. The Company believes the assumptions are representative of those a market participant would use in estimating fair value. The fair value of the net identifiable assets acquired was determined to be $11.7 million, which is being amortized over a range between 1.5 to 10 years. Unaudited Pro Forma Information The following supplemental unaudited proforma financial information presents the Company’s results as if the following acquisitions had occurred on July 1, 2019: ● Acquisition of the Pediatric Portfolio, effective November 1, 2019; ● Merger with Innovus effective February 14, 2020. The unaudited pro forma results have been prepared based on estimates and assumptions, which management believes are reasonable, however, the results are not necessarily indicative of the consolidated results of operations had the acquisition occurred on July 1, 2019, or of future results of operations: September 30, 2019 Pro forma Unaudited Total revenues, net $ 10,606,870 Net (loss) (8,256,982 ) Net (loss) per share (aa) $ (0.29 ) (aa) Pro forma net loss per share calculations excluded the impact of the issuance of the (i) Series G Convertible Preferred Stock and the, (ii) Series H Convertible Preferred Stock under the assumption those shares would continue to remain non-participatory during the periods reported above.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenues by Geographic location . Three Months Ended September 30, 2020 2019 U.S. $ 12,144,000 $ 1,262,000 International 1,376,000 178,000 Total net revenue $ 13,520,000 $ 1,440,000 Revenues by Product Portfolio. Three Months Ended September 30, 2020 2019 Primary care and devices portfolio $ 3,033,000 $ 1,440,000 Pediatric portfolio 2,719,000 — Consumer Health portfolio 7,768,000 — Consolidated revenue $ 13,520,000 $ 1,440,000

Inventories

Inventories	3 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories consist of raw materials 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 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. The Company wrote down $0.1 million and $0 inventory during the three months ended September 30, 2020 or 2019, respectively. Inventory balances consist of the following: As of As of September 30, June 30, 2020 2020 Raw materials $ 542,000 $ 397,000 Finished goods, net 10,938,000 9,603,000 $ 11,480,000 $ 10,000,000

Fixed Assets

Fixed Assets	3 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Fixed Assets	Fixed assets are recorded at cost and, once placed in service, are depreciated on a straight-line basis over the estimated useful lives. Leasehold improvements are amortized over the shorter of the estimated economic life or related lease term. Fixed assets consist of the following: As of As of Estimated September 30, June 30, Useful Lives in years 2020 2020 Manufacturing equipment 2 - 5 $ 112,000 $ 112,000 Leasehold improvements 3 111,000 229,000 Office equipment, furniture and other 2 - 5 281,000 312,000 Lab equipment 3 - 5 90,000 90,000 Less accumulated depreciation and amortization (488,000 ) (484,000 ) Fixed assets, net $ 106,000 $ 259,000 During the quarter ended September 30, 2020, we recognized a loss of $112,000 on sale of equipment due to termination of leases. Depreciation and amortization expense totaled $33,000 and $16,000 for the three-months ended September 30, 2020 and 2019, respectively.

Leases, Right-to-Use Assets and

Leases, Right-to-Use Assets and Related Liabilities	3 Months Ended
	Sep. 30, 2020
Leases Right-to-use Assets And Related Liabilities
Leases, Right-to-Use Assets and Related Liabilities	The Company previously adopted the FASB issued ASU 2016-02, “Leases (Topic 842)” as of July 1, 2019. With the adoption of ASU 2016-02, the Company recorded an operating right-of-use asset and an operating lease liability on its balance sheet associated with the lease of its corporate headquarters. The right-of-use asset represents the Company’s right to use the underlying asset for the lease term, and the lease obligation represents the Company’s commitment to make the lease payments arising from the lease. Right-of-use lease assets and obligations were recognized at the later of the commencement date or July 1, 2019; the date of adoption of Topic 842; based on the present value of remaining lease payments over the lease term. As the Company’s lease does not provide an implicit rate, the Company used an estimated incremental borrowing rate based on the information available at the commencement date in determining the present value of the lease payments. Rent expense is recognized on a straight-line basis over the lease term, subject to any changes in the lease or expectations regarding the terms. The lease liability is classified as current or long-term on the balance sheet. As of September 30, 2020, the maturities of the Company’s operating lease liabilities were as follows: Year Ending June 30, 2021 (remaining 9 months) $ 90,412 2022 123,883 2023 126,883 2024 35,883 2025 2,942 Total lease payments 380,003 Less: Imputed interest (45,048 ) Lease liabilities $ 334,955 Cash paid for amounts included in the measurement of operating lease liabilities for the three months ended September 30, 2020 and 2019 was $66,000 and $0, respectively, and was included in net cash used in operating activities in the consolidated statements of cash flows. As of September 30, 2020, the weighted average remaining lease term is 2.42 years, and the weighted average discount rate used to determine operating lease liabilities was 8.0%. On August 28, 2020, the Company’s Innovus subsidiary signed a lease termination agreement with its lessor to terminate its lease effective September 30, 2020. The original lease termination date was April 30, 2023. As part of the agreement, Innovus agreed to make a cash payment to the landlord the equivalent of two additional months’ rent aggregating to $44,306 plus $125,000 less the security deposit of $20,881. The fair value of the lease liability related to this facility lease was approximately $0.7 million as of June 30, 2020. The Company recognized a gain of approximately $343,000 during the three months ended September 30, 2020.

Intangible Assets - Amortizable

Intangible Assets - Amortizable	3 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets - Amortizable	The Company currently holds the following intangible asset portfolios as of September 30, 2020: (i) Licensed assets, which consist of pharmaceutical product assets that were acquired prior to July 1, 2020; (ii) Product technology rights, acquired from the November 1, 2019 acquisition of the Pediatric Portfolio from Cerecor; and, as a result of the Merger with Innovus on February 14, 2020, both, (iii) the Acquired product distribution rights; consisting of patents and trade names) acquired February 14, 2020. If acquired in an asset acquisition, the Company capitalized the acquisition cost of each licensed patent or tradename, which can include a combination of both upfront consideration, as well as the estimated future contingent consideration estimated at the acquisition date. If acquired in a business combination, the Company capitalizes the estimated fair value of the intangible asset or assets acquired, based primarily on a discounted cash flow model approach or relief-from-royalties model. The following table provides the summary of the Company’s intangible assets as of September 30, 2020 and June 30, 2020, respectively. September 30, 2020 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Remaining Life (in years) Licensed assets $ 23,649,000 $ (7,631,000 ) $ — $ 16,018,000 11.80 Acquired product technology right 22,700,000 (2,081,000 ) — 20,619,000 9.09 Acquired product distribution rights 11,354,000 (943,000 ) — 10,411,000 4.37 Acquired customer lists 390,000 (162,000 ) — 228,000 0.87 $ 58,093,000 $ (10,817,000 ) $ — $ 47,276,000 8.93 June 30, 2020 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Remaining Life (in years) Licensed assets $ 23,649,000 $ (7,062,000 ) $ — $ 16,587,000 11.88 MiOXSYS Patent 380,000 (185,000 ) (195,000 ) — — Acquired product technology right 22,700,000 (1,513,000 ) — 21,187,000 9.34 Acquired product distribution rights 11,354,000 (565,000 ) — 10,789,000 4.62 Acquired customer lists 390,000 (98,000 ) — 292,000 1.12 $ 58,473,000 $ (9,423,000 ) $ (195,000 ) $ 48,855,000 9.11 The following table summarizes the estimated future amortization expense to be recognized over the next five years and periods thereafter: Amortization 2021 $ 4,735,000 2022 6,086,000 2023 6,046,000 2024 6,033,000 2025 4,479,000 Thereafter 19,897,000 $ 47,276,000 Certain of the Company’s amortizable intangible assets include renewal options, extending the expected life of the asset. The renewal periods range between approximately 1 to 20 years depending on the license, patent, or other agreement. Renewals are accounted for when they are reasonably assured. Intangible assets are amortized using the straight-line method over the estimated useful lives. Amortization expense of intangible assets was $1.6 million and $0.6 million for the three months ended September 30, 2020 and 2019, respectively.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Sep. 30, 2020
Adjustment for rounding of shares due to stock split, shares
Accrued Liabilities	Accrued liabilities consist of the following: As of September 30, 2020 Accrued settlement expense $ 150,000 Accrued program liabilities 679,000 Accrued product-related fees 3,054,000 Credit card liabilities 652,000 Medicaid liabilities 1,997,000 Return reserve 1,537,000 Sales taxes payable 180,000 Other accrued liabilities* 444,000 Total accrued liabilities $ 8,693,000 * Other accrued liabilities consist of franchise tax, accounting fee, interest payable, merchant services charges, none of which individually represent greater than five percent of total current liabilities.

Fair Value Considerations

Fair Value Considerations	3 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Considerations	The Company’s financial instruments include cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities, warrant derivative liability, and contingent consideration. The carrying amounts of financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued liabilities approximate their fair value due to their short maturities, including those acquired or assumed on November 1, 2019 as a result of the acquisition of the Pediatric Portfolio. The fair value of the warrant derivative liability was valued using the lattice valuation methodology. The fair value of acquisition-related contingent consideration is based on a Monte-Carlo methodology using estimated discounted future cash flows and periodic assessments of the probability of occurrence of potential future events. The valuation policies are determined by management, and the Company’s Board of Directors is informed of any policy change. Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on reliability of the inputs as follows: Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to Aytu for identical assets or liabilities; Level 2: Inputs that include quoted prices for similar assets and liabilities in active or inactive markets or that are observable for the asset or liability either directly or indirectly; and Level 3: Unobservable inputs that are supported by little or no market activity. The Company’s assets and liabilities which are measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. The Company’s policy is to recognize transfers in and/or out of fair value hierarchy as of the date in which the event or change in circumstances caused the transfer. Aytu has consistently applied the valuation techniques discussed below in all periods presented. Recurring Fair Value Measurements The following table presents the Company’s financial liabilities that were accounted for at fair value on a recurring basis as of September 30, 2020 and June 30, 2020, by level within the fair value hierarchy. Fair Value Measurements at September 30, 2020 Fair Value at September 30, 2020 Quoted Priced in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3 Recurring: Contingent consideration 13,778,000 — — 13,778,000 CVR liability 5,669,000 — — 5,669,000 $ 19,447,000 — — $ 19,447,000 Fair Value Measurements at June 30, 2020 Fair Value at June 30, 2020 Quoted Priced in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring: Contingent consideration 13,588,000 — — 13,588,000 CVR liability $ 5,572,000 — — $ 5,572,000 $ 19,160,000 — — $ 19,160,000 Contingent Consideration. As of November 2, 2018, the contingent consideration, related to this Tuzistra XR, was valued at $8.8 million using a Monte Carlo simulation. As of June 30, 2020, the contingent consideration was revalued at $13.2 million using the same Monte Carlo simulation methodology, and based on current interest rates, expected sales potential, and Aytu stock trading variables. The Company reevaluates the contingent consideration on a quarterly basis for changes in the fair value recognized after the acquisition date, such as measurement period adjustments. The contingent consideration accretion expense for the three months ended September 30, 2020 and 2019 was $158,000, and $96,000, respectively. As of September 30, 2020, none of the milestones had been achieved, and therefore, no milestone payment was made. The contingent consideration related to the ZolpiMist royalty payments was valued at $2.6 million using a Monte Carlo simulation, as of June 11, 2018. As of June 30, 2020, the contingent consideration was revalued at $0.2 million using the same Monte Carlo simulation methodology, and based on current interest rates, expected sales potential, and Aytu stock trading variables. The Company reevaluates the contingent consideration on a quarterly basis for changes in the fair value recognized after the acquisition date, such as measurement period adjustments. The contingent consideration accretion expense for the three months ended September 30, 2020 and 2019 was $0.1 million and $0.1 million, respectively. As of September 30, 2020, none of the milestones had been achieved, and therefore, no milestone payment was made. The Company recognized approximately $0.2 million in contingent consideration as a result of the February 14, 2020 Innovus Merger. The fair value was based on a discounted value of the future contingent payment using a 30% discount rate based on the estimates risk that the milestones are achieved. The contingent consideration accretion expense for the three months ended September 30, 2020 and 2019 was $13,000, and $0, respectively. There was no material change in this valuation as of September 30, 2020. Contingent value rights. Summary of Level 3 Input Changes The following table sets forth a summary of changes to those fair value measures using Level 3 inputs for the three months ended September 30, 2020: CVR Liability Contingent Consideration Balance as of June 30, 2020 $ 5,572,000 $ 13,588,000 Transfers into Level 3 — — Transfer out of Level 3 — — Total gains, losses, amortization or accretion in period — — Included in earnings $ 97,000 $ 209,000 Included in other comprehensive income — — Purchases, issues, sales and settlements — — Purchases — — Issues — — Sales — — Settlements — $ (19,000 ) Balance as of September 30, 2020 $ 5,669,000 $ 13,778,000

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and contingencies are described below and summarized by the following as of September 30, 2020: Total 2021 2022 2023 2024 2025 Thereafter Prescription database $ 1,411,000 $ 678,000 $ 733,000 — — — — Pediatric portfolio fixed payments and product minimums 16,911,000 2,736,000 3,300,000 3,300,000 3,300,000 3,300,000 975,000 Inventory purchase commitment 1,962,000 1,226,000 736,000 — — — — CVR liability 14,000,000 2,000,000 2,000,000 5,000,000 5,000,000 — — Product contingent liability 202,000 — — — — — 202,000 Product milestone payments 3,000,000 — 3,000,000 — — — — $ 37,486,000 $ 6,640,000 $ 9,769,000 $8,300,000 $ 8,300,000 $ 3,300,000 $ 1,177,000 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. In January 2020, the Company amended the agreement and agreed to pay additional $0.6 million to add access to the database of prescriptions written for the Pediatric Portfolio. The payments have been broken down into quarterly payments. Pediatric Portfolio Fixed Payments and Product Milestone The Company assumed two fixed, periodic payment obligations to an investor (the “Fixed Obligation”). Beginning November 1, 2019 through January 2021, the Company will pay monthly payments of $86,840, with a balloon payment of $15,000,000 due in January 2021. A second fixed obligation requires the Company pay a minimum of $100,000 monthly through February 2026, except for $210,767 paid in January 2020. There is the potential for the second fixed obligation to increase an additional $1.8 million depending on product sales, which could trigger additional amounts to be paid. In June 2020, the Company agreed to pay down the $15.0 million balloon payment originally due in January 2021 early, eliminating the $15.0 million from the Company's balance sheet at both June 30, 2020, and September 30, 2020, respectively. In addition, the Company acquired a Supply and Distribution Agreement with TRIS Pharma, Inc. (“TRIS”), (the “Karbinal Agreement”), under which the Company is granted the exclusive right to distribute and sell the product in the United States. The initial term of the Karbinal Agreement was 20 years. The Company will pay TRIS a royalty equal to 23.5% of net sales. A third party agreed to offset the 23.5% royalty payable by 8.5%, for a net royalty equal to 15%, in fiscal year 2018 and 2019 for net sales of Karbinal. The Karbinal Agreement make-whole payment is capped at $1,750,000 each year. The Karbinal Agreement also contains minimum unit sales commitments, which is based on a commercial year that spans from August 1 through July 31, of 70,000 units through 2023. The Company is required to pay TRIS a royalty make whole payment of $30 for each unit under the 70,000-unit annual minimum sales commitment through 2033. The annual payment is due in August of each year. The Karbinal Agreement also has multiple commercial milestone obligations that aggregate up to $3.0 million based on cumulative net sales, the first of which is triggered at $40.0 million of net revenues. CVR Liability On February 14, 2020 the Company closed on the Merger with Innovus Pharmaceuticals after approval by the stockholders of both companies on February 13, 2020. Upon closing the Merger, the Company merged with and into Innovus and entered into a Contingent Value Rights Agreement (the “CVR Agreement”). Each CVR entitles its holder to receive its pro rata share, payable in cash or stock, at the option of Aytu, of certain payment amounts if the targets are met. If any of the payment amounts is earned, they are to be paid by the end of the first quarter of the calendar year following the year in which they are earned. Multiple revenue milestones can be earned in one year. On March 31, 2020, the Company paid out the first CVR Milestone in the form of approximately 1.2 million shares of the Company’s common stock to satisfy the $2.0 million obligation as a result of Innovus achieving the $24.0 million revenue milestone for calendar year ended December 31, 2019. As a result of this, the Company recognized a gain of approximately $0.3 million during the fiscal year ended June 30, 2020. No additional milestone payments have been paid as of September 30, 2020. Product Contingent Liability In February 2015, Innovus acquired Novalere, which included the rights associated with distributing FlutiCare. As part of the Merger, Innovus is obligated to make 5 additional payments of $0.5 million when certain levels of FlutiCare sales are achieved. Inventory Purchase Commitment In May 1, 2020, the Company entered into a Settlement Agreement and Release (the “Settlement Agreement”) with Hikma Pharmaceuticals USA, Inc. (“Hikma”). Pursuant to the settlement agreement, Innovus has agreed to purchase and Hikma has agreed to manufacture a minimum amount of our branded fluticasone propionate nasal spray USP, 50 mcg per spray (FlutiCare®), under Hikma’s FDA approved ANDA No. 207957 in the U.S. The commitment requires Innovus to purchase three batches of product through fiscal year 2022 each of which amount to $1.0 million. Milestone Payments In connection with the Company’s intangible assets, Aytu has certain milestone payments, totaling $3.0 million, payable at a future date, are not directly tied to future sales, but upon other events certain to happen. These obligations are included in the valuation of the Company’s contingent consideration (see Note 9).

Capital Structure

Capital Structure	3 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Capital Structure	The Company has 200 million shares of common stock authorized with a par value of $0.0001 per share and 50 million shares of preferred stock authorized with a par value of $0.0001 per share. At September 30, 2020 and June 30, 2020, Aytu had 125,837,357 and 125,837,357 common shares outstanding, respectively, and zero preferred shares outstanding, respectively. Included in the common stock outstanding are 4,230,766 shares of restricted stock issued to executives, directors, employees and consultants. In June 2020, the Company completed an at-the-market offering program, which allows us to sell and issue shares of our common stock from time-to- time. The company issued 4,302,271 shares of common stock, with total gross proceeds of $6.8 million before deducting underwriting discounts, commissions and other offering expenses payable by the Company of $0.2 million through September 30, 2020. The Company did not issue any shares of common stock under the at-the-market offering program during the three months ended September 30, 2020. After September 30, 2020, the Company issued approximately 3.0 million shares of common stock, with total gross proceeds of approximately $3.1 million between October 8, 2020 and the filing of this form 10-Q. In July 2020, the Company paid $1.5 million issuance cost in cash related to the March 10, 12, and 19 offerings (the “March Offerings”), and issued 845,000 shares of warrants with an exercise price of $1.5625 and 78,000 shares of warrants with an exercise price of $1.9938 to a third party in conjunction with the March 2020 offerings. The warrants have a term of one year from the issuance date. These warrants had at issuance a fair value of approximately $356,000 and were valued using a Black-Scholes model.

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Equity Incentive Plan	Share-based Compensation Plans On June 1, 2015, the Company’s stockholders approved the Aytu BioScience 2015 Stock Option and Incentive Plan (the “2015 Plan”), which, as amended in July 2017, provides for the award of stock options, stock appreciation rights, restricted stock and other equity awards for up to an aggregate of 3.0 million shares of common stock. The shares of common stock underlying any awards that are forfeited, canceled, reacquired by Aytu prior to vesting, satisfied without any issuance of stock, expire or are otherwise terminated (other than by exercise) under the 2015 Plan will be added back to the shares of common stock available for issuance under the 2015 Plan. As of September 30, 2020, we have 4,837 shares that are available for grant under the 2015 Plan. On February 13, 2020, the Company’s stockholders approved an increase to 5.0 million total shares of common stock in the 2015 Plan. Stock Options Employee Stock Options: The fair value of the options is calculated using the Black-Scholes option pricing model. In order to calculate the fair value of the options, certain assumptions are made regarding components of the model, including the estimated fair value of the underlying common stock, risk-free interest rate, volatility, expected dividend yield and expected option life. Changes to the assumptions could cause significant adjustments to valuation. Aytu estimates the expected term based on the average of the vesting term and the contractual term of the options. The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of the grant for treasury securities of similar maturity. There were no grants of stock options to employees during the quarters ended September 30, 2020 and 2019, respectively, therefore, no assumptions are used for fiscal 2021. Stock option activity is as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Aggregate Intrinsic Value Outstanding June 30, 2020 765,937 $ 1.85 9.67 Granted — — Exercised — — Forfeited/Cancelled — — Expired — — Outstanding September 30, 2020 765,937 1.85 9.44 70,320 Exercisable at September 30, 2020 8,926 $ 52.81 8.68 $ 1,650 As of September 30, 2020, there was $601,000 unrecognized option-based compensation expense related to non-vested stock options. The Company expects to recognize this expense over a weighted-average period of 2.73 years. 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, 2020 4,184,516 $ 1.47 6.4 Granted — — Vested (369,198 ) — Forfeited — — Unvested at September 30, 2020 3,815,318 $ 1.53 6.3 Under the 2015 Plan, there was $4.7 million of total unrecognized stock-based compensation expense related to the non-vested restricted stock as of September 30, 2020. The Company expects to recognize this expense over a weighted-average period of 6.3 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 $1.1 million as of September 30, 2020 and is expected to be recognized over the weighted average period of 5.8 years. Stock-based compensation expense related to the fair value of stock options and restricted stock was included in the statements of operations as selling, general and administrative expenses as set forth in the table below: Three Months Ended September 30, Selling, general and administrative: 2020 2019 Stock options $ 72,000 $ 5,000 Restricted stock 383,000 160,000 Total stock-based compensation expense $ 455,000 $ 165,000

Warrants

Warrants	3 Months Ended
	Sep. 30, 2020
Warrants Abstract
Warrants	In July 2020, the Company issued 845,000 shares of warrants with an exercise price of $1.5625 and 78,000 shares of warrants with an exercise price of $1.9938 in connect with the March Offerings. The warrants have a term of one year from the issuance date. These warrants have a fair value of $356,000. Significant assumptions in valuing the warrants issued during the quarter are as follows: Warrants Issued Three Months Ended September 30, 2020 Expected volatility 100 % Equivalent term (years) 1 Risk-free rate — Dividend yield 0.00 % A summary of equity-based warrants is as follows: Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Outstanding June 30, 2020 22,884,538 $ 3.06 2.00 Warrants issued 923,000 — Warrants expired (8,361 ) — Outstanding September 30, 2020 23,799,177 $ 2.98 1.47

Net Loss Per Common Share

Net Loss Per Common Share	3 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
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 the Company. For each three-month period presented, the basic and diluted loss per share were the same for 2020 and 2019, as 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 quarters ended September 30, 2020 and 2019 are anti-dilutive, and therefore excluded from the calculation of diluted earnings per share. Three Months Ended September 30, 2020 2019 Warrants to purchase common stock - liability classified 240,755 240,755 Warrant to purchase common stock - equity classified (Note 13) 23,799,177 16,218,908 Employee stock options (Note 12) 765,937 1,556 Employee unvested restricted stock (Note 12) 3,816,858 2,342,604 Convertible preferred stock (Note 11) — 3,151,148 28,622,727 21,954,971

Notes Payable

Notes Payable	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Notes Payable	The Aytu BioScience Note. The Innovus Notes.

Segment Reporting

Segment Reporting	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	The Company’s chief operating decision maker (the “CODM”), who is the Company’s Chief Executive Officer, allocates resources and assesses performance based on financial information of the Company. The CODM reviews financial information presented for each reportable segment for purposes of making operating decisions and assessing financial performance. Aytu manages our Company and aggregates our operational and financial information in accordance with two reportable segments: Aytu BioScience and Aytu Consumer Health. The Aytu BioScience segment consists of the Company’s prescription products. The Aytu Consumer Health segment contains the Company’s consumers healthcare products line, which was the result of the Innovus Merger. Select financial information for these segments is as follows: Three months Ended September 30, 2020 2019 Consolidated revenue: Aytu BioScience $ 5,752,000 $ 1,440,000 Aytu Consumer Health 7,768,000 — Consolidated revenue 13,520,000 1,440,000 Consolidated net loss: Aytu BioScience (2,950,000 ) (4,929,000 ) Aytu Consumer Health (1,356,000 ) — Consolidated net loss (4,306,000 ) (4,929,000 ) As of As of September 30, June 30, 2020 2020 Total assets: Aytu BioScience $ 116,499,000 $ 126,267,000 Aytu Consumer Health 24,772,000 26,569,000 Total assets $ 141,271,000 $ 152,836,000

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Tris Pharma, Inc. On November 2, 2018, the Company entered into a License, Development, Manufacturing and Supply Agreement (the “Tris License Agreement”). On November 1, 2019, the Company acquired the rights to Karbinal as a result of the acquisition of the Pediatric Portfolio from Cerecor, Inc. (See Notes 2 and 10). Mr. Ketan Mehta serves as a Director on the Board of Directors of the Company and is also the Chief Executive Officer of TRIS. The Company paid TRIS approximately $257,000 and $7,000 during the three months ended September 30, 2020 and 2019, respectively for a combination of royalty payments, inventory purchases and other payments as contractually required. The Company’s liabilities, including accrued royalties, contingent consideration and fixed payment obligations were $22.7 million and $16.0 million as of September 30, 2020 and 2019, respectively. In October 2020, the Company paid TRIS approximately $1.6 million related to its Karbinal fixed payment obligation.

Subsequent Events

Subsequent Events	3 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	See Footnotes 1 and 17 for information relating to certain events occurring between September 30, 2020, and the filing of this report Form 10-Q, impacting information disclosed above.

Nature of Business, Financial_2

Nature of Business, Financial Condition, Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business. The Primary Care Portfolio consists of (i) Natesto®, the only FDA-approved nasal formulation of testosterone for men with hypogonadism (low testosterone, or "Low T"), (ii) ZolpiMist®, the only FDA-approved oral spray prescription sleep aid, and (iii) Tuzistra® XR, the only FDA-approved 12-hour codeine-based antitussive syrup. The Pediatric Care Portfolio, acquired on November 1, 2019, (the “Pediatric Portfolio”), includes (i) Poly-Vi-Flor and Tri-Vi-Flor, two complementary prescription fluoride-based supplement product lines containing combinations of fluoride and vitamins in various for infants and children with fluoride deficiency, (ii) Cefaclor, a second-generation cephalosporin antibiotic suspension; and (iii) Karbinal ER, an extended-release carbinoxamine (antihistamine) suspension indicated to treat numerous allergic conditions. On February 14, 2020, the Company acquired Innovus Pharmaceuticals Inc. (“Innovus”), a specialty pharmaceutical company commercializing, licensing and developing safe and effective consumer healthcare products designed to improve health and vitality. Innovus commercializes twenty-two consumer health products competing in large healthcare categories including diabetes, men's health, sexual wellness and respiratory health. The Consumer Health Portfolio is commercialized through direct-to-consumer marketing channels utilizing Innovus’s proprietary Beyond Human® marketing and sales platform and on eCommerce platforms. The Company acquired U.S. distribution rights to a COVID-19 IgG/IgM rapid test. The coronavirus test is a solid phase immunochromatographic assay used in the rapid, qualitative and differential detection of IgG and IgM antibodies to the 2019 Novel Coronavirus in human whole blood, serum or plasma. The rapid test has been validated in multi-center clinical trials. The Company entered into a licensing agreement with Cedars-Sinai Medical Center to secure worldwide rights to various potential uses of Healight, an investigational medical device platform technology. Healight has demonstrated safety and efficacy in pre-clinical studies, and we plan to advance this technology and assess its safety and efficacy in human studies, initially focused on Covid-19 patients. The Company’s strategy is to continue building its portfolio of revenue-generating products, leveraging its commercial team’s expertise to build leading brands within large therapeutic markets.
Financial Condition	Financial Condition. Revenues for the three-months ended September 30, 2020 were $13.5 million and increased approximately 839% compared to $1.4 million for the three-months ended September 30, 2019. Revenues increased 277% and 100% for each of the years ended June 30, 2020 and 2019, respectively. Revenue is expected to increase over time, which will allow the Company to rely less on our existing cash balance and proceeds from financing transactions. Cash used by operations during the three-months ended September 30, 2020 was $8.0 million compared to $3.0 million for the three-months ended September 30, 2019. The increase is due primarily to an increase in working capital and pay down of other liabilities. As of the date of this Report, the Company expects costs for its current operations to increase modestly as the Company integrates the acquisition of the Pediatrics Portfolio and Innovus and continues to focus on revenue growth through increasing product sales. The Company’s total asset position totaling approximately $141.3 million plus the proceeds expected from ongoing product sales will be used to fund existing operations. The Company may continue to access the capital markets from time-to-time when market conditions are favorable. The timing and amount of capital that may be raised is dependent the terms and conditions upon which investors would require to provide such capital. There is no guarantee that capital will be available on terms favorable to the Company and its stockholders, or at all. The Company raised approximately $6.6 million, net during its fourth quarter ended June 30, 2020 from the sale of new common equity using the Company’s at-the-market facility. There were zero funds raised during the quarter ended September 30, 2020. Between September 30, 2020, and the filing date of this quarterly report on Form 10-Q, the Company raised gross proceeds of approximately $3.1 million upon the issuance of approximately 3.0 million shares of the Company’s common stock under the Company’s at-the-market offering program. As of the date of this report, the Company has adequate capital resources to complete its near-term operating objectives. Since the Company has sufficient cash on-hand as of September 30, 2020 to cover potential net cash outflows for the twelve months following the filing date of this Quarterly Report, the Company reports that there exists no indication of substantial doubt about its ability to continue as a going concern. If the Company is unable to raise adequate capital in the future when it is required, Aytu management 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 commercial programs, reductions in headcount, narrowing the scope of the Company’s commercial plans, or reductions to its research and development programs. Without sufficient operating capital, the Company could be required to relinquish rights to products or renegotiate to maintain such rights on less favorable terms than it would otherwise choose. This may lead to impairment or other charges, which could materially affect the Company’s balance sheet and operating results.
Basis of Presentation	Basis of Presentation.
Interim Unaudited Condensed Consolidated Financial Statements	Interim Unaudited Condensed Consolidated Financial Statements.
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses for the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to the determination of the fair value of equity awards, the fair value of identified assets and liabilities acquired in business combinations, the useful lives of property and equipment, intangible assets, impairment of long-lived and intangible assets, including goodwill, provisions for doubtful accounts receivable, certain accrued expenses, and the discount rate used in measuring lease liabilities. These estimates and assumptions are based on the Company’s historical results and management’s future expectations. Actual results could differ from those estimates.
Significant Accounting Policies	The Company’s significant accounting policies are discussed in Note 2—Summary of Significant Accounting Policies and Recent Accounting Pronouncements in the Annual Report. There have been no significant changes to these policies that have had a material impact on the Company’s unaudited condensed consolidated financial statements and related notes during the three months ended September 30, 2020.
Accounting Pronouncements	Adoption of New Accounting Pronouncements Fair Value Measurements (“ASU 2018-13”). The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted this as of July 1, 2020, the beginning of the Company’s fiscal year-ended June 30, 2021. The most relevant component of ASU 2018-13 to the Company’s financial statements relates to the need to disclose the range and weighted-average of significant unobservable inputs used in Level 3 fair value measurements. However, the Company discloses on a discrete basis all significant inputs for all Level 3 Fair Value measurements. Recent Accounting Pronouncements Financial Instruments – Credit Losses (“ASU 2016-13”). This Quarterly Report on Form 10-Q does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to the Company’s financial condition, results of operations, cash flows or disclosures.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Assets acquired and liabilities assumed	The Pediatric Portfolio As of November 1, 2019 Consideration Cash and cash equivalents $ 4,500,000 Fair value of Series G Convertible Preferred Stock Total shares issued 9,805,845 Estimated fair value per share of Aytu common stock $ 0.567 Estimated fair value of equity consideration transferred 5,559,914 Total consideration transferred $ 10,059,914 Recognized amounts of identifiable assets acquired and liabilities assumed Inventory, net $ 459,123 Prepaid assets 1,743,555 Other current assets 2,525,886 Intangible assets - product marketing rights 22,700,000 Accrued liabilities (300,000 ) Accrued product program liabilities (6,683,932 ) Assumed fixed payment obligations $ (29,837,853 ) Total identifiable net assets (9,393,221 ) Goodwill $ 19,453,135 Innovus Merger (Consumer Health Portfolio) As of February 14, 2020 Consideration Fair Value of Aytu Common Stock Total shares issued at close 3,810,393 Estimated fair value per share of Aytu common stock $ 0.756 Estimated fair value of equity consideration transferred $ 2,880,581 Fair value of Seris H Convertile Preferred Stock Total shares issued 1,997,736 Estimated fair value per share of Aytu common stock $ 0.756 Estimated fair value of equity consideration transferred $ 1,510,288 Fair value of former Innovus warrants $ 15,315 Fair value of Contingent Value Rights $ 7,049,079 Forgiveness of Note Payable owed to the Company $ 1,350,000 Total consideration transferred $ 12,805,263 As of February 14, 2020 Total consideration transferred $ 12,805,263 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 390,916 Accounts receivable, net 278,826 Inventory, net 1,149,625 Prepaid expenses and other current assets 1,692,133 Other long-term assets 36,781 Right-to-use assets 328,410 Property, plant and equipment 190,393 Trademarks and patents 11,744,000 Accounts payable and accrued other expenses (7,202,309 ) Other current liabilities (629,601 ) Notes payable (3,056,361 ) Lease liability (754,822 ) Total identifiable assets $ 4,167,991 Goodwill $ 8,637,272
Pro forma information	September 30, 2019 Pro forma Unaudited Total revenues, net $ 10,606,870 Net (loss) (8,256,982 ) Net (loss) per share (aa) $ (0.29 ) (aa) Pro forma net loss per share calculations excluded the impact of the issuance of the (i) Series G Convertible Preferred Stock and the, (ii) Series H Convertible Preferred Stock under the assumption those shares would continue to remain non-participatory during the periods reported above.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues by geographic location	Three Months Ended September 30, 2020 2019 U.S. $ 12,144,000 $ 1,262,000 International 1,376,000 178,000 Total net revenue $ 13,520,000 $ 1,440,000
Revenues by product portfolio	Three Months Ended September 30, 2020 2019 Primary care and devices portfolio $ 3,033,000 $ 1,440,000 Pediatric portfolio 2,719,000 — Consumer Health portfolio 7,768,000 — Consolidated revenue $ 13,520,000 $ 1,440,000

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventory balances	As of As of September 30, June 30, 2020 2020 Raw materials $ 542,000 $ 397,000 Finished goods, net 10,938,000 9,603,000 $ 11,480,000 $ 10,000,000

Fixed Assets (Tables)

Fixed Assets (Tables)	3 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Fixed assets	As of As of Estimated September 30, June 30, Useful Lives in years 2020 2020 Manufacturing equipment 2 - 5 $ 112,000 $ 112,000 Leasehold improvements 3 111,000 229,000 Office equipment, furniture and other 2 - 5 281,000 312,000 Lab equipment 3 - 5 90,000 90,000 Less accumulated depreciation and amortization (488,000 ) (484,000 ) Fixed assets, net $ 106,000 $ 259,000

Leases, Right-to-Use Assets a_2

Leases, Right-to-Use Assets and Related Liabilities (Tables)	3 Months Ended
	Sep. 30, 2020
Leases Righttouse Assets And Related Liabilities Tables Abstract
Lease liability	Year Ending June 30, 2021 (remaining 9 months) $ 90,412 2022 123,883 2023 126,883 2024 35,883 2025 2,942 Total lease payments 380,003 Less: Imputed interest (45,048 ) Lease liabilities $ 334,955

Intangible Assets - Amortizab_2

Intangible Assets - Amortizable (Tables)	3 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	September 30, 2020 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Remaining Life (in years) Licensed assets $ 23,649,000 $ (7,631,000 ) $ — $ 16,018,000 11.80 Acquired product technology right 22,700,000 (2,081,000 ) — 20,619,000 9.09 Acquired product distribution rights 11,354,000 (943,000 ) — 10,411,000 4.37 Acquired customer lists 390,000 (162,000 ) — 228,000 0.87 $ 58,093,000 $ (10,817,000 ) $ — $ 47,276,000 8.93 June 30, 2020 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Remaining Life (in years) Licensed assets $ 23,649,000 $ (7,062,000 ) $ — $ 16,587,000 11.88 MiOXSYS Patent 380,000 (185,000 ) (195,000 ) — — Acquired product technology right 22,700,000 (1,513,000 ) — 21,187,000 9.34 Acquired product distribution rights 11,354,000 (565,000 ) — 10,789,000 4.62 Acquired customer lists 390,000 (98,000 ) — 292,000 1.12 $ 58,473,000 $ (9,423,000 ) $ (195,000 ) $ 48,855,000 9.11
Amortization expense	Amortization 2021 $ 4,735,000 2022 6,086,000 2023 6,046,000 2024 6,033,000 2025 4,479,000 Thereafter 19,897,000 $ 47,276,000

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Sep. 30, 2020
Adjustment for rounding of shares due to stock split, shares
Accrued liabilities	As of September 30, 2020 Accrued settlement expense $ 150,000 Accrued program liabilities 679,000 Accrued product-related fees 3,054,000 Credit card liabilities 652,000 Medicaid liabilities 1,997,000 Return reserve 1,537,000 Sales taxes payable 180,000 Other accrued liabilities* 444,000 Total accrued liabilities $ 8,693,000 * Other accrued liabilities consist of franchise tax, accounting fee, interest payable, merchant services charges, none of which individually represent greater than five percent of total current liabilities.

Fair Value Considerations (Tabl

Fair Value Considerations (Tables)	3 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair value on a recurring basis	Fair Value Measurements at September 30, 2020 Fair Value at September 30, 2020 Quoted Priced in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3 Recurring: Contingent consideration 13,778,000 — — 13,778,000 CVR liability 5,669,000 — — 5,669,000 $ 19,447,000 — — $ 19,447,000 Fair Value Measurements at June 30, 2020 Fair Value at June 30, 2020 Quoted Priced in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring: Contingent consideration 13,588,000 — — 13,588,000 CVR liability $ 5,572,000 — — $ 5,572,000 $ 19,160,000 — — $ 19,160,000
Changes in Level 3 inputs	CVR Liability Contingent Consideration Balance as of June 30, 2020 $ 5,572,000 $ 13,588,000 Transfers into Level 3 — — Transfer out of Level 3 — — Total gains, losses, amortization or accretion in period — — Included in earnings $ 97,000 $ 209,000 Included in other comprehensive income — — Purchases, issues, sales and settlements — — Purchases — — Issues — — Sales — — Settlements — $ (19,000 ) Balance as of September 30, 2020 $ 5,669,000 $ 13,778,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Total 2021 2022 2023 2024 2025 Thereafter Prescription database $ 1,411,000 $ 678,000 $ 733,000 — — — — Pediatric portfolio fixed payments and product minimums 16,911,000 2,736,000 3,300,000 3,300,000 3,300,000 3,300,000 975,000 Inventory purchase commitment 1,962,000 1,226,000 736,000 — — — — CVR liability 14,000,000 2,000,000 2,000,000 5,000,000 5,000,000 — — Product contingent liability 202,000 — — — — — 202,000 Product milestone payments 3,000,000 — 3,000,000 — — — — $ 37,486,000 $ 6,640,000 $ 9,769,000 $8,300,000 $ 8,300,000 $ 3,300,000 $ 1,177,000

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	3 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock option activity	Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Aggregate Intrinsic Value Outstanding June 30, 2020 765,937 $ 1.85 9.67 Granted — — Exercised — — Forfeited/Cancelled — — Expired — — Outstanding September 30, 2020 765,937 1.85 9.44 70,320 Exercisable at September 30, 2020 8,926 $ 52.81 8.68 $ 1,650
Restricted stock activity	Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Life in Years Unvested at June 30, 2020 4,184,516 $ 1.47 6.4 Granted — — Vested (369,198 ) — Forfeited — — Unvested at September 30, 2020 3,815,318 $ 1.53 6.3
Stock-based compensation expense	Three Months Ended September 30, Selling, general and administrative: 2020 2019 Stock options $ 72,000 $ 5,000 Restricted stock 383,000 160,000 Total stock-based compensation expense $ 455,000 $ 165,000

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Sep. 30, 2020
Warrants Tables Abstract
Significant assumptions in valuing the warrants issued	Warrants Issued Three Months Ended September 30, 2020 Expected volatility 100 % Equivalent term (years) 1 Risk-free rate — Dividend yield 0.00 %
Warrant activity	Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Outstanding June 30, 2020 22,884,538 $ 3.06 2.00 Warrants issued 923,000 — Warrants expired (8,361 ) — Outstanding September 30, 2020 23,799,177 $ 2.98 1.47

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from the computation of earnings per share	Three Months Ended September 30, 2020 2019 Warrants to purchase common stock - liability classified 240,755 240,755 Warrant to purchase common stock - equity classified (Note 13) 23,799,177 16,218,908 Employee stock options (Note 12) 765,937 1,556 Employee unvested restricted stock (Note 12) 3,816,858 2,342,604 Convertible preferred stock (Note 11) — 3,151,148 28,622,727 21,954,971

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment financial information	Three months Ended September 30, 2020 2019 Consolidated revenue: Aytu BioScience $ 5,752,000 $ 1,440,000 Aytu Consumer Health 7,768,000 — Consolidated revenue 13,520,000 1,440,000 Consolidated net loss: Aytu BioScience (2,950,000 ) (4,929,000 ) Aytu Consumer Health (1,356,000 ) — Consolidated net loss (4,306,000 ) (4,929,000 ) As of As of September 30, June 30, 2020 2020 Total assets: Aytu BioScience $ 116,499,000 $ 126,267,000 Aytu Consumer Health 24,772,000 26,569,000 Total assets $ 141,271,000 $ 152,836,000

Acquisitions (Details)

Acquisitions (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Recognized amounts of identifiable assets acquired, and liabilities assumed
Goodwill	$ 28,090,407	$ 28,090,407
Cerecor, Inc.
Consideration
Cash and cash equivalents	4,500,000
Total consideration transferred	10,059,914
Recognized amounts of identifiable assets acquired, and liabilities assumed
Inventory, net	459,123
Prepaid expenses and other current assets	1,743,555
Other current assets	2,525,886
Intangible assets	22,700,000
Accrued product program liabilities	(6,683,932)
Assumed fixed payment obligations	(29,837,853)
Total identifiable net assets	(9,393,221)
Goodwill	$ 19,453,135
Cerecor, Inc. | Series G Convertible Preferred Stock
Consideration
Shares issued	9,805,845
Estimated fair value per share of Aytu common stock	$ 0.567
Estimated fair value of equity consideration transferred	$ 5,559,914
Innovus Pharmaceuticals
Consideration
Fair value of former Innovus warrants	15,315
Fair value of contingent value rights	7,049,079
Forgiveness of note payable owed to the Company	1,350,000
Total consideration transferred	12,805,263
Recognized amounts of identifiable assets acquired, and liabilities assumed
Cash and cash equivalents	390,916
Accounts receivables, net	278,826
Inventory, net	1,149,625
Prepaid expenses and other current assets	1,692,133
Other long-term assets	36,781
Right-to-use assets	328,410
Property, plant and equipment	190,393
Intangible assets	11,744,000
Accounts payable and accrued other expenses	(7,202,309)
Other current liabilities	(629,601)
Notes payable	(3,056,361)
Lease liability	(754,822)
Total identifiable net assets	4,167,991
Goodwill	$ 8,637,272
Innovus Pharmaceuticals | Aytu Common Stock
Consideration
Shares issued	3,810,393
Estimated fair value per share of Aytu common stock	$ 0.756
Estimated fair value of equity consideration transferred	$ 2,880,581
Innovus Pharmaceuticals | Series H Convertible Preferred Stock
Consideration
Shares issued	1,997,736
Estimated fair value per share of Aytu common stock	$ 0.756
Estimated fair value of equity consideration transferred	$ 1,510,288

Acquisitions (Details 1)

Acquisitions (Details 1)	3 Months Ended
	Sep. 30, 2019USD ($)$ / shares
Business Combinations [Abstract]
Total revenues, net	$ 10,606,870
Net (loss)	$ (8,256,982)
Net (loss) per share | $ / shares	$ (.29)	[1]
[1]	Pro forma net loss per share calculations excluded the impact of the issuance of the (i) Series G Convertible Preferred Stock and the, (ii) Series H Convertible Preferred Stock under the assumption those shares would continue to remain non-participatory during the periods reported above.

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Total net revenue	$ 13,520,000	$ 1,440,000
U.S.
Total net revenue	12,144,000	1,262,000
International
Total net revenue	$ 1,376,000	$ 178,000

Revenue Recognition (Details 1)

Revenue Recognition (Details 1) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Consolidated revenue	$ 13,520,000	$ 1,440,000
Primary Care and Devices Portfolio
Consolidated revenue	3,033,000	1,440,000
Pediatric Portfolio
Consolidated revenue	2,719,000	0
Consumer Health Portfolio
Consolidated revenue	$ 7,768,000	$ 0

Inventories (Details)

Inventories (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 542,000	$ 397,000
Finished goods, net	1,098,000	9,603,000
Inventory, net	$ 11,479,557	$ 9,999,441

Inventories (Details Narrative)

Inventories (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventory write-down	$ 100,000	$ 0

Fixed Assets (Details)

Fixed Assets (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Less accumulated depreciation and amortization	$ (488,000)	$ (484,000)
Fixed assets, net	106,153	258,516
Manufacturing Equipment
Fixed assets, gross	$ 112,000	112,000
Manufacturing Equipment | Minimum
Estimated useful lives in years	2 years
Manufacturing Equipment | Maximum
Estimated useful lives in years	5 years
Leasehold Improvements
Estimated useful lives in years	3 years
Fixed assets, gross	$ 111,000	229,000
Office Equipment, Furniture and Other
Fixed assets, gross	$ 281,000	312,000
Office Equipment, Furniture and Other | Minimum
Estimated useful lives in years	2 years
Office Equipment, Furniture and Other | Maximum
Estimated useful lives in years	5 years
Lab Equipment
Fixed assets, gross	$ 90,000	$ 90,000
Lab Equipment | Minimum
Estimated useful lives in years	3 years
Lab Equipment | Maximum
Estimated useful lives in years	5 years

Fixed Assets (Details Narrative

Fixed Assets (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Loss on sale of equipment	$ 112,110	$ 0
Depreciation and amortization expense	$ 33,000	$ 16,000

Leases, Right-to-Use Assets a_3

Leases, Right-to-Use Assets and Related Liabilities (Details)	Sep. 30, 2020USD ($)
Leases Righttouse Assets And Related Liabilities Details Abstract
2021 (remaining 9 months)	$ 90,412
2022	123,883
2023	126,883
2024	35,883
2025	2,942
Total lease payments	380,003
Less: imputed interest	(45,048)
Total lease liability	$ 334,955

Leases, Right-to-use Assets a_4

Leases, Right-to-use Assets and Related Liabiliities (Details 1) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Leases Right-to-use Assets And Related Liabiliities
Cash paid for amounts included in the measurement of operating lease liabilities	$ 66,000	$ 0
Weighted average remaining lease term	2 years 5 months 1 day
Weighted average discount rate	8.00%
Rent expense	$ 70,000	$ 32,000

Intangible Assets - Amortizab_3

Intangible Assets - Amortizable (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Intangible assets, gross	$ 58,093,000		$ 58,473,000
Accumulated amortization	10,817,000		9,423,000
Impairment	0	$ (195,000)
Intangible assets, net	$ 47,276,000		48,855,000
Weighted-average remaining life	8 years 11 months 5 days	9 years 1 month 10 days
Licensed Assets
Intangible assets, gross	$ 23,649,000		23,649,000
Accumulated amortization	7,631,000		7,062,000
Impairment	0	$ 0
Intangible assets, net	$ 16,018,000		16,587,000
Weighted-average remaining life	11 years 9 months 18 days	11 years 10 months 17 days
MiOXSYS Patent
Intangible assets, gross			380,000
Accumulated amortization			185,000
Impairment		$ (195,000)
Intangible assets, net			0
Weighted-average remaining life		0 years
Acquired Product Technology Right
Intangible assets, gross	$ 22,700,000		22,700,000
Accumulated amortization	2,081,000		1,513,000
Impairment	0	$ 0
Intangible assets, net	$ 20,619,000		21,187,000
Weighted-average remaining life	9 years 1 month 2 days	9 years 4 months 2 days
Acquired Product Distribution Rights
Intangible assets, gross	$ 11,354,000		11,354,000
Accumulated amortization	943,000		565,000
Impairment	0	$ 0
Intangible assets, net	$ 10,411,000		10,789,000
Weighted-average remaining life	4 years 4 months 13 days	4 years 7 months 13 days
Acquired Customer Lists
Intangible assets, gross	$ 390,000		390,000
Accumulated amortization	162,000		98,000
Impairment	0	$ 0
Intangible assets, net	$ 228,000		$ 292,000
Weighted-average remaining life	10 months 13 days	1 year 1 month 13 days

Intangible Assets - Amortizab_4

Intangible Assets - Amortizable (Details 1) - USD ($)	Sep. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 4,735,000
2022	6,086,000
2023	6,046,000
2024	6,033,000
2025	4,479,000
Thereafter	19,897,000
Total	$ 47,276,000	$ 48,855,000

Intangible Assets - Amortizab_5

Intangible Assets - Amortizable (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 1,584,581	$ 575,117

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($)		Sep. 30, 2020	Jun. 30, 2020
Adjustment for rounding of shares due to stock split, shares
Accrued settlement expense		$ 150,000
Accrued program liabilities		679,000
Accrued product-related fees		3,054,000
Credit card liabilities		652,000
Medicaid liabilities		1,997,000
Return reserve		1,537,000
Sales taxes payable		180,000
Other accrued liabilities	[1]	444,000
Total accrued liabilities		$ 8,692,693	$ 7,849,855
[1]	Other accrued liabilities consist of franchise tax, accounting fee, interest payable, merchant services charges, none of which individually represent greater than five percent of total current liabilities.

Fair Value Considerations (Deta

Fair Value Considerations (Details) - Fair Value, Measurements, Recurring - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Contingent consideration	$ 13,778,000	$ 13,588,000
CVR liability	5,669,000	5,572,000
Total	19,447,000	19,160,000
Level 1
Contingent consideration	0	0
CVR liability	0	0
Total	0	0
Level 2
Contingent consideration	0	0
CVR liability	0	0
Total	0	0
Level 3
Contingent consideration	13,778,000	13,588,000
CVR liability	5,669,000	5,572,000
Total	$ 19,447,000	$ 19,160,000

Fair Value Considerations (De_2

Fair Value Considerations (Details 1)	3 Months Ended
	Sep. 30, 2020USD ($)
CVR Liability
Beginning balance	$ 5,572,000
Transfers into Level 3	0
Transfer out of Level 3	0
Total gains, losses, amortization or accretion in period	0
Total gains, losses, amortization or accretion in period included in earnings	97,000
Total gains, losses, amortization or accretion in period included in other comprehensive income	0
Purchases	0
Issues	0
Sales	0
Settlements	0
Ending balance	5,669,000
Contingent Consideration
Beginning balance	13,588,000
Transfers into Level 3	0
Transfer out of Level 3	0
Total gains, losses, amortization or accretion in period	0
Total gains, losses, amortization or accretion in period included in earnings	209,000
Total gains, losses, amortization or accretion in period included in other comprehensive income	0
Purchases	0
Issues	0
Sales	0
Settlements	(19,000)
Ending balance	$ 13,778,000

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Sep. 30, 2020USD ($)
2021	$ 6,640,000
2022	9,769,000
2023	8,300,000
2024	8,300,000
2025	3,300,000
Thereafter	1,177,000
Total	37,486,000
Prescription Database
2021	678,000
2022	733,000
2023	0
2024	0
2025	0
Thereafter	0
Total	1,411,000
Pediatric Portfolio Fixed Payments and Product Minimums
2021	2,736,000
2022	3,300,000
2023	3,300,000
2024	3,300,000
2025	3,300,000
Thereafter	975,000
Total	16,911,000
Inventory Purchase Commitment
2021	1,226,000
2022	736,000
2023	0
2024	0
2025	0
Thereafter	0
Total	1,962,000
CVR Liability
2021	2,000,000
2022	2,000,000
2023	5,000,000
2024	5,000,000
2025	0
Thereafter	0
Total	14,000,000
Product Contingent Liability
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	202,000
Total	202,000
Product Milestone Payments
2021	0
2022	3,000,000
2023	0
2024	0
2025	0
Thereafter	0
Total	$ 3,000,000

Capital Structure (Details Narr

Capital Structure (Details Narrative) - $ / shares	Sep. 30, 2020	Jun. 30, 2020
Equity [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	125,837,357	125,837,357
Common stock, shares outstanding	125,837,357	125,837,357

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - Stock Options	3 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Number of options outstanding, beginning balance | shares	765,937
Granted | shares	0
Exercised | shares	0
Forfeited/cancelled | shares	0
Expired | shares	0
Number of options outstanding, ending balance | shares	765,937
Number of options exercisable | shares	8,926
Weighted average exercise price outstanding, beginning balance | $ / shares	$ 1.85
Granted | $ / shares	.00
Exercised | $ / shares	.00
Forfeited/cancelled | $ / shares	.00
Expired | $ / shares	.00
Weighted average exercise price outstanding, ending balance | $ / shares	1.85
Weighted average exercise price exercisable | $ / shares	$ 52.81
Weighted average remaining contractual life in years outstanding, beginning balance	9 years 8 months 1 day
Weighted average remaining contractual life in years outstanding, ending balance	9 years 5 months 8 days
Weighted average remaining contractual life in years exercisable	8 years 8 months 5 days
Aggregate intrinsic value outstanding, ending balance | $	$ 70,320
Aggregate intrinsic value exercisable | $	$ 1,650

Equity Incentive Plan (Details

Equity Incentive Plan (Details 1) - Restricted Stock	3 Months Ended
	Sep. 30, 2020$ / sharesshares
Number of unvested restricted stock outstanding, beginning balance | shares	4,184,516
Granted | shares	0
Vested | shares	(369,198)
Forfeited | shares	0
Number of unvested restricted stock outstanding, ending balance | shares	3,815,318
Unvested weighted average grant date fair value outstanding, beginning balance | $ / shares	$ 1.47
Granted | $ / shares	.00
Vested | $ / shares	.00
Forfeited | $ / shares	.00
Unvested weighted average grant date fair value outstanding, ending balance | $ / shares	$ 1.53
Unvested weighted average remaining contractual life outstanding, beginning balance	6 years 4 months 24 days
Unvested weighted average remaining contractual life outstanding,, ending balance	6 years 3 months 18 days

Equity Incentive Plan (Detail_2

Equity Incentive Plan (Details 2) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Total stock-based compensation expense	$ 455,000	$ 165,000
Stock Options
Total stock-based compensation expense	72,000	5,000
Restricted Stock
Total stock-based compensation expense	$ 383,000	$ 160,000

Equity Incentive Plan (Detail_3

Equity Incentive Plan (Details Narrative)	3 Months Ended
	Sep. 30, 2020USD ($)shares
Unrecognized option-based compensation expense related to non-vested stock options	$ 601,000
Unrecognized stock-based compensation expense related to non-vested restricted stock	$ 1,100,000
Recognition period	5 years 9 months 18 days
2015 Plan
Shares available for grant | shares	4,837
Unrecognized stock-based compensation expense related to non-vested restricted stock	$ 4,700,000
Recognition period	6 years 3 months 18 days

Warrants (Details)

Warrants (Details) - Warrants	3 Months Ended
	Sep. 30, 2020
Expected volatility	100.00%
Equivalent term	1 year
Risk-free rate	0.00%
Dividend yield	0.00%

Warrants (Details 1)

Warrants (Details 1) - Equity-Based Warrants	3 Months Ended
	Sep. 30, 2020$ / sharesshares
Number of warrants, outstanding beginning balance | shares	22,884,538
Issued | shares	923,000
Expired | shares	(8,361)
Number of warrants outstanding, ending balance | shares	23,799,177
Weighted average exercise price outstanding, beginning balance | $ / shares	$ 3.06
Issued | $ / shares	.00
Expired | $ / shares	.00
Weighted average exercise price outstanding, ending balance | $ / shares	$ 2.98
Weighted average remaining contractual life outstanding, beginning balance	2 years
Weighted average remaining contractual life outstanding, ending balance	1 year 5 months 19 days

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details) - shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive securities	28,622,727	21,954,971
Liability Warrants
Antidilutive securities	240,755	240,755
Equity-Based Warrants
Antidilutive securities	23,799,177	16,218,908
Stock Options
Antidilutive securities	765,937	1,556
Employee Unvested Restricted Stock
Antidilutive securities	3,816,858	2,342,604
Convertible Preferred Stock
Antidilutive securities	0	3,151,148

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Consolidated revenue	$ 13,520,246	$ 1,439,826
Consolidated net loss	(4,305,931)	(4,929,030)
Total assets	141,270,659		$ 152,836,330
Aytu BioScience
Consolidated revenue	5,752,000	1,440,000
Consolidated net loss	(2,950,000)	(4,929,000)
Total assets	116,499		126,267,000
Aytu Consumer Health
Consolidated revenue	7,768,000	0
Consolidated net loss	(1,356,000)	$ 0
Total assets	$ 24,772,000		$ 26,569,000