Aytu BioPharma Announces Fiscal 2025 First Quarter Results and CFO Transition

On November 11, 2024, Aytu BioPharma, Inc. (NASDAQ: AYTU) released its fiscal 2025 first-quarter operational and financial results through a press release. This announcement was followed by the scheduling of a conference call and live audio webcast for November 13, 2024, at 4:30 p.m. Eastern time to discuss these results in detail. Interested parties can access the conference call via webcast or telephone, with instructions provided in the press release. Following the call, a replay will be available on the company’s website and through a telephone replay service.

The press release that outlines the financial and operational results has been furnished as Exhibit 99.1 in the Company’s Current Report on Form 8-K and is aimed at providing transparency to stakeholders. It is important to note that the information disclosed in this press release is not considered a filing under the Securities Exchange Act of 1934 or incorporated by reference in subsequent filings unless expressly stated otherwise.

Additionally, on November 11, 2024, the company announced the termination of Mark K. Oki as Chief Financial Officer. Oki will continue to offer consultancy services to the company until December 1, 2024. A separation agreement has been reached, entitling Oki to certain benefits such as payment for accrued unused personal time off, a separation payment of $499,590 distributed over twelve months, COBRA coverage for up to 12 months, and acceleration of any unvested options or restricted stock.

Concurrently, Ryan Selhorn has been appointed as the new Chief Financial Officer, Corporate Secretary, and Treasurer of Aytu BioPharma. With a wealth of experience in financial leadership roles, Selhorn has been an essential part of the company, serving in executive positions since November 2022. The Employment Agreement with Selhorn outlines his annual base salary, bonus structure, stock grants, and various other entitlements in the event of certain terminations or a change in control scenario.

Moreover, a recent directorial change occurred on November 6, 2024, when the Board decided to split the roles of Chairman and Chief Executive Officer. John A. Donofrio, Jr. was appointed as the new Chairman of the Board of Directors, taking over from Joshua R. Disbrow.

For a comprehensive view of the agreements and press releases mentioned, including the Separation Agreement with Mr. Oki, the Employment Agreement with Mr. Selhorn, and the press release disclosing these events, please refer to the Company’s Form 8-K filed with the Securities and Exchange Commission on November 11, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Aytu BioPharma’s 8K filing here.

About Aytu BioPharma

Aytu Biopharma, Inc, a commercial-stage pharmaceutical company, focuses on commercializing novel therapeutics and consumer healthcare products the United States and internationally. The company operates through two segments: Rx segment and Consumer Health segment. The Rx segment offers prescription products for the treatment of attention deficit hyperactivity disorder (ADHD), including Adzenys XR-ODT for patients from six years and older, and Cotempla XR-ODT for patients from six to seventeen years old.