Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 31, 2023 | Feb. 01, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001385818 | |
Entity Registrant Name | AYTU BIOPHARMA, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38247 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 47-0883144 | |
Entity Address, Address Line One | 7900 East Union Avenue, Suite 920 | |
Entity Address, City or Town | Denver | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80237 | |
City Area Code | 720 | |
Local Phone Number | 437-6580 | |
Title of 12(b) Security | Common Stock, $0.0001 par value | |
Trading Symbol | AYTU | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,567,597 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 | |
Current assets: | |||
Cash and cash equivalents | $ 19,529 | $ 22,985 | |
Accounts receivable, net | 29,403 | 28,937 | |
Inventories | 13,001 | 11,995 | |
Prepaid expenses | 8,105 | 8,047 | |
Other current assets | 1,333 | 868 | |
Total current assets | 71,371 | 72,832 | |
Non-current assets: | |||
Property and equipment, net | 1,127 | 1,815 | |
Operating lease right-of-use assets | [1] | 2,133 | 2,054 |
Intangible assets, net | 55,711 | 58,970 | |
Other non-current assets | 907 | 792 | |
Total non-current assets | 59,878 | 63,631 | |
Total assets | 131,249 | 136,463 | |
Current liabilities: | |||
Accounts payable | 10,473 | 13,478 | |
Accrued liabilities | 43,413 | 46,799 | |
Short-term line of credit | 1,026 | 1,563 | |
Current portion of debt | 39 | 85 | |
Other current liabilities | 9,236 | 7,090 | |
Total current liabilities | 64,187 | 69,015 | |
Non-current liabilities: | |||
Debt, net of current portion | 14,978 | 14,713 | |
Derivative warrant liabilities | 12,887 | 6,403 | |
Other non-current liabilities | 6,344 | 6,975 | |
Total non-current liabilities | 34,209 | 28,091 | |
Commitments and contingencies (note 13) | |||
Stockholders’ equity: | |||
Preferred stock, par value $.0001; 50,000,000 shares authorized; no shares issued or outstanding | 0 | 0 | |
Common stock, par value $.0001; 200,000,000 shares authorized; 5,567,347 and 5,517,174 shares issued and outstanding, respectively | 1 | 1 | |
Additional paid-in capital | 345,321 | 343,485 | |
Accumulated deficit | (312,469) | (304,129) | |
Total stockholders’ equity | 32,853 | 39,357 | |
Total liabilities and stockholders’ equity | $ 131,249 | $ 136,463 | |
[1]Includes $0.2 million from the Consumer Health Segment as of December 31, 2023 and June 30, 2023. |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Dec. 31, 2023 | Jun. 30, 2023 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, authorizzed (in shares) | 50,000,000 | 50,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 5,567,347 | 5,517,174 |
Common stock, outstanding (in shares) | 5,567,347 | 5,517,174 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Product revenue, net | $ 22,934 | $ 26,279 | $ 45,033 | $ 53,934 |
Cost of sales | 6,731 | 8,986 | 14,046 | 18,609 |
Gross profit | 16,203 | 17,293 | 30,987 | 35,325 |
Operating expenses: | ||||
Selling and marketing | 6,576 | 10,560 | 13,998 | 20,662 |
General and administrative | 5,439 | 8,018 | 12,395 | 15,340 |
Research and development | 524 | 1,710 | 1,128 | 2,774 |
Amortization of intangible assets | 1,300 | 1,198 | 2,606 | 2,395 |
Impairment expense | 0 | 2,600 | 0 | 2,600 |
Loss from contingent consideration | 0 | 75 | 0 | 230 |
Total operating expenses | 13,839 | 24,161 | 30,127 | 44,001 |
Income (loss) from operations | 2,364 | (6,868) | 860 | (8,676) |
Other expense, net | (1,179) | (1,228) | (1,888) | (2,312) |
(Loss) gain on derivative warrant liabilities | (577) | 1,403 | (6,484) | 3,594 |
Income (loss) before income tax | 608 | (6,693) | (7,512) | (7,394) |
Income tax expense | 828 | 0 | 828 | 0 |
Net loss | $ (220) | $ (6,693) | $ (8,340) | $ (7,394) |
Basic and diluted weighted-average common shares outstanding (in shares) | 5,517,670 | 3,110,304 | 5,499,951 | 2,817,979 |
Basic and diluted net loss per common share (in dollars per share) | $ (0.04) | $ (2.15) | $ (1.52) | $ (2.62) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Jun. 30, 2022 | 1,928,941 | |||
Balances at Jun. 30, 2022 | $ 0 | $ 331,386 | $ (287,078) | $ 44,308 |
Stock-based compensation expense (in shares) | (1,666) | |||
Stock-based compensation expense | $ 0 | 1,177 | 0 | 1,177 |
Net loss | $ 0 | (701) | (701) | |
Issuance of common stock with exercise of warrants (in shares) | 1,194,196 | |||
Issuance of common stock with exercise of warrants | $ 0 | 3,564 | 0 | 3,564 |
Balances (in shares) at Sep. 30, 2022 | 3,121,471 | |||
Balances at Sep. 30, 2022 | $ 0 | 336,127 | (287,779) | 48,348 |
Balances (in shares) at Jun. 30, 2022 | 1,928,941 | |||
Balances at Jun. 30, 2022 | $ 0 | 331,386 | (287,078) | 44,308 |
Net loss | (7,394) | |||
Balances (in shares) at Dec. 31, 2022 | 3,383,145 | |||
Balances at Dec. 31, 2022 | $ 0 | 340,289 | (294,472) | 45,817 |
Balances (in shares) at Jun. 30, 2022 | 1,928,941 | |||
Balances at Jun. 30, 2022 | $ 0 | 331,386 | (287,078) | 44,308 |
Balances (in shares) at Jun. 30, 2023 | 5,517,174 | |||
Balances at Jun. 30, 2023 | $ 1 | 343,485 | (304,129) | 39,357 |
Balances (in shares) at Sep. 30, 2022 | 3,121,471 | |||
Balances at Sep. 30, 2022 | $ 0 | 336,127 | (287,779) | 48,348 |
Stock-based compensation expense (in shares) | (19,228) | |||
Stock-based compensation expense | $ 0 | 3,067 | 0 | 3,067 |
Net loss | $ 0 | (6,693) | (6,693) | |
Issuance of common stock with exercise of warrants (in shares) | 280,902 | |||
Issuance of common stock with exercise of warrants | $ 0 | 1,095 | 0 | 1,095 |
Balances (in shares) at Dec. 31, 2022 | 3,383,145 | |||
Balances at Dec. 31, 2022 | $ 0 | 340,289 | (294,472) | 45,817 |
Balances (in shares) at Jun. 30, 2023 | 5,517,174 | |||
Balances at Jun. 30, 2023 | $ 1 | 343,485 | (304,129) | 39,357 |
Stock-based compensation expense (in shares) | 13,061 | |||
Stock-based compensation expense | $ 0 | 930 | 0 | 930 |
Net loss | $ 0 | (8,120) | (8,120) | |
Balances (in shares) at Sep. 30, 2023 | 5,530,235 | |||
Balances at Sep. 30, 2023 | $ 1 | 344,415 | (312,249) | 32,167 |
Balances (in shares) at Jun. 30, 2023 | 5,517,174 | |||
Balances at Jun. 30, 2023 | $ 1 | 343,485 | (304,129) | 39,357 |
Net loss | (8,340) | |||
Balances (in shares) at Dec. 31, 2023 | 5,567,347 | |||
Balances at Dec. 31, 2023 | $ 1 | 345,321 | (312,469) | 32,853 |
Balances (in shares) at Sep. 30, 2023 | 5,530,235 | |||
Balances at Sep. 30, 2023 | $ 1 | 344,415 | (312,249) | 32,167 |
Stock-based compensation expense (in shares) | 108 | |||
Stock-based compensation expense | $ 0 | 820 | 0 | 820 |
Net loss | $ 0 | (220) | (220) | |
Issuance of common stock with exercise of warrants (in shares) | 37,004 | |||
Issuance of common stock with exercise of warrants | $ 0 | 86 | 0 | 86 |
Balances (in shares) at Dec. 31, 2023 | 5,567,347 | |||
Balances at Dec. 31, 2023 | $ 1 | $ 345,321 | $ (312,469) | $ 32,853 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Dec. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | |
Cash flows from operating activities: | |||||||
Net loss | $ (220) | $ (8,120) | $ (6,693) | $ (701) | $ (8,340) | $ (7,394) | |
Adjustments to reconcile net loss to cash used in operating activities: | |||||||
Depreciation, amortization and accretion | 4,409 | 4,507 | |||||
Stock-based compensation expense | 820 | 3,067 | 1,750 | 4,244 | |||
Loss (gain) on derivative warrant liabilities | 577 | (1,403) | 6,484 | (3,594) | |||
Amortization of senior debt discount | 302 | 315 | |||||
Inventory write-down | 100 | 0 | 133 | 82 | |||
Impairment expense | 0 | 2,600 | 0 | 2,600 | |||
Loss from contingent consideration | 0 | 75 | 0 | 230 | |||
Other noncash adjustments | (50) | (33) | |||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable, net | (466) | (3,834) | |||||
Inventories | (1,140) | (2,183) | |||||
Prepaid expenses and other current assets | (321) | (4,606) | |||||
Accounts payable | (3,032) | (838) | |||||
Accrued liabilities | (3,927) | (1,008) | |||||
Other operating assets and liabilities, net | 3,852 | (76) | |||||
Net cash used in operating activities | (346) | (11,588) | |||||
Cash flows from investing activities: | |||||||
Contingent consideration payment | 0 | (5) | |||||
Other investing activities | (250) | 42 | |||||
Net cash (used in) provided by investing activities | (250) | 37 | |||||
Cash flows from financing activities: | |||||||
Proceeds from issuance of stock and warrants | 86 | 11,573 | |||||
Net (payments made on) proceeds received from, short-term line of credit | (537) | 3,616 | |||||
Payment made to fixed payment arrangement | (2,204) | (2,433) | |||||
Payment of stock issuance costs | (160) | (1,000) | |||||
Payments made to borrowings | (45) | 0 | |||||
Other financing activities | 0 | (64) | |||||
Net cash (used in) provided by financing activities | (2,860) | 11,692 | |||||
Net change in cash and cash equivalents | (3,456) | 141 | |||||
Cash and cash equivalents at beginning of period | $ 22,985 | $ 19,360 | 22,985 | 19,360 | $ 19,360 | ||
Cash and cash equivalents at end of period | $ 19,529 | $ 19,501 | 19,529 | 19,501 | $ 22,985 | ||
Supplemental disclosure of cash flow information: | |||||||
Cash paid for interest | 2,170 | 2,021 | |||||
Cash paid for income taxes | $ 432 | $ 0 |
Note 1 - Nature of Business, Fi
Note 1 - Nature of Business, Financial Condition, Basis of Presentation | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Aytu BioPharma, Inc. (“Aytu”, or the “Company”), is a pharmaceutical company focused on commercializing novel therapeutics. The Company operates through two third August 9, 2002, June 8, 2015. March 2021, ( On January 6, 2023, one twenty The Rx Segment primarily consists of two two The Consumer Health Segment consists of multiple consumer health products competing in large healthcare categories, including allergy, hair regrowth, diabetes support, digestive health, sexual and urological health and general wellness, commercialized through direct mail and e-commerce marketing channels. To date, the Consumer Health Segment has generated negative cash flows. In fiscal 2023, 2024. The Company’s strategy is to continue building its portfolio of revenue-generating prescription pharmaceutical products, leveraging its commercial team’s expertise to build leading brands within large therapeutic markets. As a result of focusing on building the portfolio of revenue-generating products and generating profitability, in fiscal 2023, AR101 NT0502 As of December 31, 2023 may three six December 31, 2023, December 31, 2023 June 30, 2023 $0.4 six December 31, 2023 2022 In addition, the Company has non-operating liabilities that are scheduled to, or may twelve 10 Note 11 no not Management plans to mitigate the conditions that raise substantial doubt about its ability to continue as a going concern are primarily focused on (i) improving cash flows from operations, (ii) winding down the Consumer Health Segment, (iii) refinancing its $15 million Avenue Note to extend its maturity date, and, (iv), if necessary, raising additional capital through public or private equity offerings, debt offerings, or monetizing additional assets in order to meet its obligations. Management believes that the Company has adequate access to capital resources. However, the Company cannot provide any assurance that it will be able to raise additional capital, monetize assets, or obtain new financing on commercially acceptable terms. If the Company is unable to support its operations and obligations, it may may no Basis of Presentation. 10 2023 10 June 30, 2023 not December 31, 2023 not Prior Period Reclassification not three six December 31, 2023 2022 December 31, 2023 June 30, 2023 |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Use of Estimates Management uses estimates and assumptions relating to reporting amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying unaudited consolidated financial statements, estimates are used for, but not may Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, 480” 815, 815” 480, 480, 815, Income Taxes The Company calculates its quarterly income tax provision based on estimated annual effective tax rates applied to ordinary income (or loss) and other known items computed and recognized when they occur. There have been no three six December 31, 2023 three six December 31, 2023 382 three six December 31, 2022, no 382 An ownership change could limit the Company’s ability to offset, post-change, U.S. federal taxable income. Section 382 may five zero Employee Retention Credit On March 27, 2020, 19 70% December 31, 2020 September 30, 2021. 19 As there is no 20, 20” 20, Note - 9 Recently Adopted Accounting Pronouncements Financial Instruments Credit Losses. June 2016, 2016 13 , Financial Instruments Credit Losses 2016 13” 2016 13 December 15, 2019. October 2019, December 15, 2022. 2022 02 2016 13. 2016 13 2019 05 July 1, 2023. 2016 13, 2019 05, 2022 02 not Recent Accounting Pronouncements Not Debt Debt with Conversion and Other Options. August 2020, No. 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 Accounting for Convertible Instruments and Contracts in an Entity s Own Equity no December 15, 2023, July 1, 2024 not Segment Reporting - Improvements to Reportable Segment Disclosures. November 2023, No. 2023 07, Segment Reporting (Topic 280 2023 07” 2023 07 2023 07 December 15, 2023, December 15, 2024. For a complete set of the Company’s significant accounting policies, refer to the Company's 2023 10 20 no six December 31, 2023 |
Note 3 - Revenues From Contract
Note 3 - Revenues From Contracts with Customers | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 3 Net product revenue in the Rx Segment consists of sales of prescription pharmaceutical products, principally to a limited number of wholesale distributors and pharmacies in the United States. Rx Segment net product revenue is recognized at the point in time that control of the product transfers to the customer, which typically aligns with shipping terms (i.e., upon delivery), generally “free-on-board” destination when shipped domestically within the United States, consistent with contractual terms. The Company generates Consumer Health Segment revenue from sales of various consumer health products through e-commerce platforms and direct-to-consumer marketing channels. Revenue is generally recognized “free-on-board” shipping point, consistent with contractual terms and aligning with the transfer of control of the products. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from customers are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost, and are included in cost of sales. Savings offers, rebates, and wholesaler chargebacks reflect the terms of underlying agreements, which may may not not Revenues by Segment. three six December 31, 2023 2022 Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 (in thousands) Consolidated net revenue: Rx Segment $ 18,748 $ 18,029 $ 36,565 $ 36,681 Consumer Health Segment 4,186 8,250 8,468 17,253 Total consolidated net revenue $ 22,934 $ 26,279 $ 45,033 $ 53,934 Revenues by Product Portfolio. three six December 31, 2023 2022 Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 (in thousands) Rx Segment net revenue: ADHD Portfolio $ 16,572 $ 11,120 $ 31,700 $ 22,705 Pediatric Portfolio 2,145 6,328 4,710 12,886 Other 31 581 155 1,090 Total Rx Segment net revenue $ 18,748 $ 18,029 $ 36,565 $ 36,681 Other includes discontinued products in the Rx Segment. The Consumer Health Segment is comprised of one Revenues by Geographic location. |
Note 4 - Inventories
Note 4 - Inventories | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 4 Inventories consist of raw materials, work in process and finished goods, and are recorded at the lower of cost or net realizable value, with cost determined on a first first no first three December 31, 2023 2022 six December 31, 2023 2022 Inventory balances consist of the following: December 31, June 30, 2023 2023 (in thousands) Raw materials $ 1,654 $ 1,301 Work in process 2,674 2,956 Finished goods 8,673 7,738 Inventories $ 13,001 $ 11,995 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5 Properties and equipment are recorded at cost and depreciated on a straight-line basis over the assets’ estimated economic life. Leasehold improvements are amortized over the shorter of the estimated economic life or remaining lease term. Property and equipment consist of the following: December 31, June 30, 2023 2023 (in thousands) Manufacturing equipment $ 1,183 $ 2,433 Office equipment, furniture and other 1,146 1,125 Leasehold improvements 999 999 Lab equipment 832 832 Assets under construction 45 107 Property and equipment, gross 4,205 5,496 Less: accumulated depreciation and amortization (3,078 ) (3,681 ) Property and equipment, net $ 1,127 $ 1,815 Depreciation and amortization expense from property and equipment was $0.3 million and $0.4 million for the three December 31, 2023 2022 six December 31, 2023 2022 |
Note 6 - Leases
Note 6 - Leases | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Leases Disclosure [Text Block] | Note 6 The Company has entered into various operating lease agreements for certain of its offices, manufacturing facilities and equipment, and finance lease agreements for certain equipment. These leases have original lease periods expiring between fiscal 2024 2029. one not In May 2023, September 2023 ( five not The components of lease expenses are as follows: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Statement of Operations Classification (in thousands) Lease cost: Operating lease cost $ 381 $ 359 $ 741 $ 716 Operating expenses Short-term lease cost 21 19 44 44 Operating expenses Finance lease cost: Amortization of leased assets 15 19 29 37 Cost of sales Interest on lease liabilities 1 2 2 5 Other expense, net Total net lease cost $ 418 $ 399 $ 816 $ 802 Supplemental balance sheet information related to leases is as follows: December 31, June 30, 2023 2023 Balance Sheet Classification (in thousands) Assets: Operating lease assets $ 2,133 $ 2,054 Operating lease right-of-use assets Finance lease assets — 159 Property and equipment, net Total lease assets $ 2,133 $ 2,213 Liabilities: Current: Operating leases $ 1,369 $ 1,258 Other current liabilities Finance leases 39 85 Current portion of debt Non-current: Operating leases 845 832 Other non-current liabilities Total lease liabilities $ 2,253 $ 2,175 Remaining lease term and discount rate used are as follows: December 31, June 30, 2023 2023 Weighted-average remaining lease term (years): Operating lease assets 2.62 1.72 Finance lease assets 0.37 0.87 Weighted-average discount rate: Operating lease assets 8.85 % 7.78 % Finance lease assets 6.54 % 6.54 % Supplemental cash flow information related to lease is as follows: Six Months Ended December 31, 2023 2022 (in thousands) Cash flow classification of lease payments: Operating cash flows from operating leases $ 697 $ 716 Operating cash flows from finance leases $ 2 $ 5 Financing cash flows from finance leases $ 46 $ 52 As of December 31, 2023 Operating Finance (in thousands) 2024 (remaining 6 months) $ 735 $ 40 2025 938 — 2026 282 — 2027 241 — 2028 199 — Thereafter 151 — Total lease payments 2,546 40 Less: imputed interest (332 ) (1 ) Lease liabilities $ 2,214 $ 39 |
Note 7 - Intangible Assets
Note 7 - Intangible Assets | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 7 The following table provides the summary of the Company’s intangible assets as of December 31, 2023 June 30, 2023 zero not December 31, 2023 Weighted- Net Average Carrying Accumulated Carrying Remaining Amount Amortization Amount Life (in years) (in thousands) Definite-lived intangibles: Acquired product technology rights $ 41,467 $ (11,777 ) $ 29,690 11.04 Acquired technology right 30,200 (4,943 ) 25,257 14.25 Acquired product distribution rights 6,207 (5,443 ) 764 0.50 Total intangible assets $ 77,874 $ (22,163 ) $ 55,711 12.35 June 30, 2023 Weighted- Net Average Carrying Accumulated Carrying Remaining Amount Amortization Amount Life (in years) (in thousands) Definite-lived intangibles: Acquired product technology rights $ 42,176 $ (10,881 ) $ 31,295 11.49 Acquired technology right 30,200 (4,054 ) 26,146 14.75 Acquired product distribution rights 6,207 (4,678 ) 1,529 1.00 Total intangible assets $ 78,583 $ (19,613 ) $ 58,970 12.67 The following table summarizes the estimated future amortization expense to be recognized over the next five December 31, (in thousands) 2024 (remaining 6 months) $ 3,259 2025 4,989 2026 4,989 2027 4,989 2028 4,988 Thereafter 32,497 Total future amortization expense $ 55,711 Acquired Product Technology Rights The acquired product technology rights are related to the rights to production, supply and distribution agreements of various products pursuant to the acquisitions of the Pediatric Portfolio in November 2019 March 2021. Karbinal ER. August 2033, Poly-Vi-Flor and Tri-Vi-Flor. ADHD Portfolio. Acquired Technology Right TRRP Technology. Acquired Product Distribution Rights (and customer list) In connection with the Innovus Acquisition, the Company obtained 35 300 fourth 2023, Acquired In-Process R&D IPR&D NT0502. NT0502, 2023, NT0502. NT0502, three December 31, 2022. 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 $1.5 million for the three December 31, 2023 2022 six December 31, 2023 2022 |
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accrued Liabilities [Text Block] | Note 8 Accrued liabilities consist of the following: December 31, June 30, 2023 2023 (in thousands) Accrued savings offers $ 14,852 $ 15,739 Accrued program liabilities 11,841 11,012 Accrued customer and product related fees 5,699 6,579 Return reserve 5,129 5,777 Accrued employee compensation 3,362 5,675 Other accrued liabilities 2,530 2,017 Total accrued liabilities $ 43,413 $ 46,799 Accrued savings offers represent programs for the Company’s patients covered under commercial payor plans in which the cost of a prescription to such patients is discounted. Accrued program liabilities include government and commercial rebates. Accrued employee compensation includes sales commissions, paid time off earned, accrued payroll and accrued bonus. Accrued customer and product related fees include accrued expenses and deductions for rebates, wholesaler chargebacks and fees, and other product-related fees and deductions such as royalties for Pediatric Portfolio products, accrued distributor fees, and Medicaid liabilities. The return reserve represents the Company’s accrual for estimated product returns. Other accrued liabilities consist of various other accruals, none five |
Note 9 - Other Liabilities
Note 9 - Other Liabilities | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | Note 9 December 31, June 30, 2023 2023 (in thousands) Fixed payment arrangements $ 9,043 $ 10,420 Operating lease liabilities 2,214 2,090 Employee retention credit 3,759 — Other 564 1,555 Total other liabilities 15,580 14,065 Less: current portion (9,236 ) (7,090 ) Total other liabilities, non-current $ 6,344 $ 6,975 Fixed Payment Arrangements Fixed payment arrangements represent obligations to an investor assumed as part of the acquisition of products from Cerecor, Inc. in 2019, The Tris Karbinal Agreement grants the Company exclusive right to distribute and sell the product in the United States. The initial term of the agreement was 20 years. The Company will pay Tris a royalty equal to 23.5% of net sales. The Tris Karbinal Agreement also contains minimum unit sales commitments, which is based on a commercial year that spans from August 1 July 31, 2025. 2025. August first December 31, 2023 On May 12, 2022, November 2, 2018 ( December 31, 2023 Operating Lease Liabilities The Company has entered into various operating lease agreements for certain of its offices, manufacturing facilities and equipment. Please refer to Note 6 Employee Retention Credit The $3.8 million ERC accrual in other non-current liabilities as of December 31, 2023 first 2024. 19 Note 2 first 2024. Other Other consists of taxes payable and deferred cost related to the Company’s technology transfer. |
Note 10 - Line of Credit
Note 10 - Line of Credit | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] | Note 10 The Company has entered into a secured credit agreement, as amended, with Eclipse Business Capital LLC (f/k/a Encina Business Credit, LLC) (“Eclipse”) as agent for the lenders (the “Eclipse Loan Agreement”). Under the Eclipse Loan Agreement, Eclipse extended up to $14.0 million, less a $3.5 million availability block, in secured revolving loans (the “Revolving Loans”), against 85% of eligible accounts receivable. The Revolving Loans thereunder, accrue at variable interest through maturity at the one January 26, 2025. In the event that, for any reason, all or any portion of the Eclipse Loan Agreement is terminated prior to the scheduled maturity date, in addition to the payment of all outstanding principal and unpaid accrued interest, the Company is required to pay a fee equal to (i) 1.0% of the Revolving Loans commitment if such event occurs after January 26, 2023 January 26, 2024, January 26, 2024 January 26, 2025. may five The Eclipse Loan Agreement contains customary affirmative covenants, negative covenants and events of default, as defined in the agreement, including covenants and restrictions that, among other things, require the Company to satisfy certain capital expenditure limitations and other financial covenants, and restrict the Company’s ability to incur liens, incur additional indebtedness, make certain dividends and distributions with respect to equity securities, engage in mergers and acquisitions or make asset sales without the prior written consent of Eclipse. A failure to comply with these covenants could permit Eclipse to declare the Company’s obligations under the Eclipse Loan Agreement, together with accrued interest and fees, to be immediately due and payable, plus any applicable additional amounts relating to a prepayment or termination, as described above. As of December 31, 2023 The Company’s obligations under the Eclipse Loan Agreement are secured by substantially all of the Company’s assets, with a first second Total interest expense on the Revolving Loans, including amortization of deferred financing costs, was $23.2 thousand and $176.7 thousand for the three December 31, 2023 2022 six December 31, 2023 2022 December 31, 2023 June 30, 2023 |
Note 11 - Long-term Debt
Note 11 - Long-term Debt | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note 11 Avenue Capital Loan On January 26, 2022 ( 2” January 26, 2025. Pursuant to the Avenue Capital Agreement, the Company made interest only payments for the first 18 June 2023, In the event the Company prepays the outstanding principal prior to the maturity date, the Company will pay Avenue Capital a fee equal to (i) 2.0% of the loan if such event occurs after January 26, 2023 January 26, 2024, January 26, 2024 January 26, 2025. The Company’s obligations under Avenue Capital Agreement are secured by substantially all of the Company’s assets, with a first second The Avenue Capital Agreement contains customary affirmative covenants, negative covenants and events of default, as defined in the agreement, including covenants and restrictions that, among other things, require the Company to satisfy certain capital expenditure limitations and other financial covenants, and restricts the Company’s ability to incur liens, incur additional indebtedness, make certain dividends and distributions with respect to equity securities, engage in mergers and acquisitions or make asset sales without the prior written consent of the Avenue Capital Lenders. A failure to comply with these covenants could permit the Avenue Capital Lenders to declare the Company’s obligations under the agreement, together with accrued interest and fees, to be immediately due and payable, plus any applicable additional amounts relating to a prepayment or termination, as described above. As of December 31, 2023 On January 26, 2022 ( June 30, 2022, January 31, 2027. not On March 7, 2022, July 7, 2022, March 7, 2022 On October 25, 2022, January 2022, January 2024. August 2022 In addition to the debt discount discussed above, the Company incurred $0.4 million in loan origination, legal and other fees. The debt discount and issuance costs are being amortized over the term of the loan, using the effective interest method resulting in an effective rate of 19.6%. Total interest expense, including debt discount amortization, was $0.7 million for both the three December 31, 2023 2022 six December 31, 2023 2022 Long-term debt consists of the following: December 31, June 30, 2023 2023 (in thousands) Long-term debt, due on January 26, 2025 $ 15,000 $ 15,000 Long-term, final payment fee 638 638 Unamortized discount and issuance costs (660 ) (925 ) Financing leases, maturing through May 2024 39 85 Total debt 15,017 14,798 Less: current portion (39 ) (85 ) Non-current portion of debt $ 14,978 $ 14,713 Future principal payments of long-term debt, including financing leases, are as follows: December 31, (in thousands) 2024 (remaining 6 months) $ 39 2025 15,638 Future principal payments 15,677 Less: unamortized discount and issuance costs (660 ) Less: current portion (39 ) Non-current portion of debt $ 14,978 |
Note 12 - Fair Value Considerat
Note 12 - Fair Value Considerations | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 12 The Company determines the fair value of financial and non-financial assets and liabilities using the fair value hierarchy, which establishes three may ● Level 1: ● Level 2: ● Level 3: no The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, derivative warrant liabilities, fixed payment arrangements, and short-term and long-term debt. The carrying amounts of certain short-term 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. Short-term and long-term debt are reported at their amortized costs on the unaudited consolidated balance sheets. The remaining financial instruments and derivative warrant liabilities are reported on the unaudited consolidated balance sheets at amounts that approximate current fair values. The Company’s policy is to recognize transfers in and/or out of fair value hierarchy as of the date in which the event or change in circumstances caused the transfer. There were no 1, 2, 3 Recurring Fair Value Measurements The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2023 June 30, 2023 Fair Value Measurements at December 31, 2023 Fair Value at December 31, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Liabilities: Derivative warrant liabilities 12,887 — — 12,887 Total $ 12,887 $ — $ — $ 12,887 Fair Value Measurements at June 30, 2023 Fair Value at June 30, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Liabilities: Derivative warrant liabilities 6,403 — — 6,403 Total $ 6,403 $ — $ — $ 6,403 Summary of Level 3 The following table sets forth a summary of changes to those fair value measures using Level 3 six December 31, 2023 Derivative Warrant Liabilities (in thousands) Balance as of June 30, 2023 $ 6,403 Included in earnings 6,484 Balance as of December 31, 2023 $ 12,887 Significant Assumptions The following table presents the valuation methodologies and key assumptions used for the marked to market fair value measurements of derivative warrant liabilities as of December 31, 2023 June 2023 Warrants Warrants Tranche A & B Other * Monte Carlo Simulation & Black-Scholes Black-Scholes Equivalent term (years) 4.44 3.09-3.69 Expected volatility 96.15% 96.15% Risk-free rate 3.88% 3.95-4.01% Dividend yield 0.00% 0.00% * Includes August 2022 March 2022 The Black-Scholes option pricing model is used to value all warrants with significant Level 3 100,000 not 3 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 13 Pediatric Portfolio Fixed Payments and Product Milestone The Tris Karbinal Agreement grants the Company exclusive right to distribute and sell Karbinal ER in the United States. The initial term of the agreement was 20 years. The Company will pay Tris a royalty equal to 23.5% of net sales. The Tris Karbinal Agreement also contains minimum unit sales commitments, which is based on a commercial year that spans from August 1 July 31, 2025. 70,000‑unit 2025. August first Rumpus Earn Out Payments On April 12, 2021, AR101. April 2022. may October 2022, AR101. Legal Matters Witmer Class-Action Securities Litigation. September 12, 2022, 2019 2020 not Sabby Litigation. February 22, 2023, may October 2023, Stein Litigation. February 1, 2023, not not |
Note 14 - Capital Structure
Note 14 - Capital Structure | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 14 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. Included in the common stock outstanding are 40,017 shares of unvested restricted stock issued to executives, directors and employees. On June 8, 2020, 3, June 17, 2020. “2020 June 4, 2021, 2020 June 30, 2023 2020 June 2023. On September 28, 2021, 3, October 7, 2021. “2021 December 31, 2023 2021 1.B.6 3. On August 11, 2022, “August 2022 2021 one one August 2022. five August 2022 Note 16 On June 8, 2023, may one may five 30 200% 40 x five 30 twelve Note 16 |
Note 15 - Equity Incentive Plan
Note 15 - Equity Incentive Plans | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 15 2023 May 18, 2023, 2023 “2023 2023 2015 2015 2015 2015 2015 “2015 2023 2015 2023 2015 2023 2023 no 2015 2023 December 31, 2023 2023 Aytu 2015 June 1, 2015, 2015 July 2017, 2015 2023 February 13, 2020, 2015 Neos 2015 2015 April 19, 2021, 2015 2015 Stock Options Stock option activity is as follows: Weighted Average Weighted Remaining Number of Average Contractual Options Exercise Price Life in Years Outstanding June 30, 2023 52,762 $ 18.37 9.06 Granted 112,000 $ 1.73 9.61 Forfeited/cancelled (15,060 ) $ 2.94 — Expired (615 ) $ 184.80 — Outstanding at December 31, 2023 149,087 $ 6.43 9.17 Exercisable at December 31, 2023 20,470 $ 30.18 8.02 The weighted-average grant date fair value of options granted during the six December 31, 2023 December 31, 2023 Restricted Stock Restricted stock activity is as follows: Weighted Average Grant Number of Date Fair Shares Value Unvested at June 30, 2023 38,075 $ 142.20 Granted 12,500 $ 1.77 Vested (12,189 ) $ 130.45 Forfeited/cancelled (457 ) $ 136.80 Unvested at December 31, 2023 37,929 $ 99.75 As of December 31, 2023 As of December 31, 2023 December 31, 2023 Restricted Stock Units Restricted stock units (“RSU” or “RSUs”) activity is as follows: Weighted Average Grant Number of Date Fair Shares Value Unvested at June 30, 2023 4,963 $ 25.62 Vested (1,126 ) $ 24.28 Forfeited (939 ) $ 31.60 Unvested at December 31, 2023 2,898 $ 24.19 As of December 31, 2023 Stock-based compensation expense related to the fair value of stock options, restricted stock, and RSUs was included in the consolidated statements of operations as set forth in the below table: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 (in thousands) Cost of sales $ 1 $ 3 $ 1 $ 8 Research and development 2 14 3 23 Selling and marketing — 3 — 6 General and administrative 817 3,047 1,746 4,207 Total stock-based compensation expense $ 820 $ 3,067 $ 1,750 $ 4,244 |
Note 16 - Warrants
Note 16 - Warrants | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Warrants or Rights Disclosure [Text Block] | Note 16 Liability Classified Warrants On June 8, 2023, may one may five 30 200% 40 x five 30 twelve Note 14 On August 11, 2022, “August 2022 one one August 2022. five x five 20 16th second Note 14 In November 2022 December 31, 2022, August 2022 January 6, 2023, 1 five twenty December 30, 2022. June 2023, August 2022 Certain outstanding warrants are classified as derivative warrant liabilities in the consolidated balance sheets and are marked to market at each reporting period (see Note 12 A summary of warrants is as follows: Weighted Average Weighted Remaining Number of Average Contractual Warrants Exercise Price Life in Years Outstanding June 30, 2023 6,538,052 $ 4.42 4.71 Warrants exercised (37,004 ) $ 2.32 — Warrants expired (20,958 ) $ 300.00 — Outstanding December 31, 2023 6,480,090 $ 3.48 4.22 |
Note 17 - Earnings Per Share
Note 17 - Earnings Per Share | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 17 Basic loss per common share is calculated by dividing the net loss available to the common stockholders 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. The following table sets forth securities that are considered anti-dilutive, and therefore excluded from the calculation of diluted earnings per share. December 31, 2023 2022 Warrants to purchase common stock - liability classified 6,498,980 1,642,235 Warrant to purchase common stock - equity classified 39,072 56,486 Employee stock options 149,087 52,861 Employee unvested restricted stock 40,017 48,280 Employee unvested restricted stock units 2,898 8,167 Total 6,730,054 1,808,029 |
Note 18 - License Agreements
Note 18 - License Agreements | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Licensing Agreements [Text Block] | Note 18 Teva On December 21, 2018, July 1, 2026, Actavis On October 17, 2017, September 1, 2025, |
Note 19 - Segment Reporting
Note 19 - Segment Reporting | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 19 The Company’s chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer, allocates resources and assesses performance based on the Company’s financial information. The CODM reviews financial information presented for each reportable segment for the purpose of making operating decisions and assessing financial performance. The Company manages and aggregates its operational and financial information in accordance with two not not Select financial information for these segments is as follows: Rx Consumer Health Consolidated (in thousands) Three Months Ended December 31, 2023 Product revenue, net $ 18,748 $ 4,186 $ 22,934 Income (loss) from operations $ 3,146 $ (782 ) $ 2,364 Depreciation and amortization $ 1,510 $ 389 $ 1,899 Stock-based compensation expense $ 707 $ 113 $ 820 Three Months Ended December 31, 2022 Product revenue, net $ 18,029 $ 8,250 $ 26,279 Loss from operations $ (5,464 ) $ (1,404 ) $ (6,868 ) Depreciation and amortization $ 1,572 $ 281 $ 1,853 Impairment expense $ 2,600 $ — $ 2,600 Stock-based compensation expense $ 2,987 $ 80 $ 3,067 Rx Consumer Health Consolidated (in thousands) Six Months Ended December 31, 2023 Product revenue, net $ 36,565 $ 8,468 $ 45,033 Income (loss) from operations $ 2,280 $ (1,420 ) $ 860 Depreciation and amortization $ 3,064 $ 776 $ 3,840 Stock-based compensation expense $ 1,432 $ 318 $ 1,750 Six Months Ended December 31, 2022 Product revenue, net $ 36,681 $ 17,253 $ 53,934 Loss from operations $ (6,457 ) $ (2,219 ) $ (8,676 ) Depreciation and amortization $ 3,146 $ 562 $ 3,708 Impairment expense $ 2,600 $ — $ 2,600 Stock-based compensation expense $ 4,149 $ 95 $ 4,244 |
Insider Trading Arrangements
Insider Trading Arrangements | 6 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. Rule 10b5 1 During the fiscal quarter ended December 31, 2023 none 16a 1 10b5 1 10b5 1 408 |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates Management uses estimates and assumptions relating to reporting amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying unaudited consolidated financial statements, estimates are used for, but not may |
Warrants [Policy Text Block] | Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, 480” 815, 815” 480, 480, 815, |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company calculates its quarterly income tax provision based on estimated annual effective tax rates applied to ordinary income (or loss) and other known items computed and recognized when they occur. There have been no three six December 31, 2023 three six December 31, 2023 382 three six December 31, 2022, no 382 An ownership change could limit the Company’s ability to offset, post-change, U.S. federal taxable income. Section 382 may five zero Employee Retention Credit On March 27, 2020, 19 70% December 31, 2020 September 30, 2021. 19 As there is no 20, 20” 20, Note - 9 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements Financial Instruments Credit Losses. June 2016, 2016 13 , Financial Instruments Credit Losses 2016 13” 2016 13 December 15, 2019. October 2019, December 15, 2022. 2022 02 2016 13. 2016 13 2019 05 July 1, 2023. 2016 13, 2019 05, 2022 02 not Recent Accounting Pronouncements Not Debt Debt with Conversion and Other Options. August 2020, No. 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 Accounting for Convertible Instruments and Contracts in an Entity s Own Equity no December 15, 2023, July 1, 2024 not Segment Reporting - Improvements to Reportable Segment Disclosures. November 2023, No. 2023 07, Segment Reporting (Topic 280 2023 07” 2023 07 2023 07 December 15, 2023, December 15, 2024. For a complete set of the Company’s significant accounting policies, refer to the Company's 2023 10 20 no six December 31, 2023 |
Note 3 - Revenues From Contra_2
Note 3 - Revenues From Contracts with Customers (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 (in thousands) Consolidated net revenue: Rx Segment $ 18,748 $ 18,029 $ 36,565 $ 36,681 Consumer Health Segment 4,186 8,250 8,468 17,253 Total consolidated net revenue $ 22,934 $ 26,279 $ 45,033 $ 53,934 Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 (in thousands) Rx Segment net revenue: ADHD Portfolio $ 16,572 $ 11,120 $ 31,700 $ 22,705 Pediatric Portfolio 2,145 6,328 4,710 12,886 Other 31 581 155 1,090 Total Rx Segment net revenue $ 18,748 $ 18,029 $ 36,565 $ 36,681 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, June 30, 2023 2023 (in thousands) Raw materials $ 1,654 $ 1,301 Work in process 2,674 2,956 Finished goods 8,673 7,738 Inventories $ 13,001 $ 11,995 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, June 30, 2023 2023 (in thousands) Manufacturing equipment $ 1,183 $ 2,433 Office equipment, furniture and other 1,146 1,125 Leasehold improvements 999 999 Lab equipment 832 832 Assets under construction 45 107 Property and equipment, gross 4,205 5,496 Less: accumulated depreciation and amortization (3,078 ) (3,681 ) Property and equipment, net $ 1,127 $ 1,815 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Statement of Operations Classification (in thousands) Lease cost: Operating lease cost $ 381 $ 359 $ 741 $ 716 Operating expenses Short-term lease cost 21 19 44 44 Operating expenses Finance lease cost: Amortization of leased assets 15 19 29 37 Cost of sales Interest on lease liabilities 1 2 2 5 Other expense, net Total net lease cost $ 418 $ 399 $ 816 $ 802 December 31, June 30, 2023 2023 Weighted-average remaining lease term (years): Operating lease assets 2.62 1.72 Finance lease assets 0.37 0.87 Weighted-average discount rate: Operating lease assets 8.85 % 7.78 % Finance lease assets 6.54 % 6.54 % Six Months Ended December 31, 2023 2022 (in thousands) Cash flow classification of lease payments: Operating cash flows from operating leases $ 697 $ 716 Operating cash flows from finance leases $ 2 $ 5 Financing cash flows from finance leases $ 46 $ 52 |
Schedule of Lease by Balance Sheet Information [Table Text Block] | December 31, June 30, 2023 2023 Balance Sheet Classification (in thousands) Assets: Operating lease assets $ 2,133 $ 2,054 Operating lease right-of-use assets Finance lease assets — 159 Property and equipment, net Total lease assets $ 2,133 $ 2,213 Liabilities: Current: Operating leases $ 1,369 $ 1,258 Other current liabilities Finance leases 39 85 Current portion of debt Non-current: Operating leases 845 832 Other non-current liabilities Total lease liabilities $ 2,253 $ 2,175 |
Lessee, Liability, Maturity [Table Text Block] | Operating Finance (in thousands) 2024 (remaining 6 months) $ 735 $ 40 2025 938 — 2026 282 — 2027 241 — 2028 199 — Thereafter 151 — Total lease payments 2,546 40 Less: imputed interest (332 ) (1 ) Lease liabilities $ 2,214 $ 39 |
Note 7 - Intangible Assets (Tab
Note 7 - Intangible Assets (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2023 Weighted- Net Average Carrying Accumulated Carrying Remaining Amount Amortization Amount Life (in years) (in thousands) Definite-lived intangibles: Acquired product technology rights $ 41,467 $ (11,777 ) $ 29,690 11.04 Acquired technology right 30,200 (4,943 ) 25,257 14.25 Acquired product distribution rights 6,207 (5,443 ) 764 0.50 Total intangible assets $ 77,874 $ (22,163 ) $ 55,711 12.35 June 30, 2023 Weighted- Net Average Carrying Accumulated Carrying Remaining Amount Amortization Amount Life (in years) (in thousands) Definite-lived intangibles: Acquired product technology rights $ 42,176 $ (10,881 ) $ 31,295 11.49 Acquired technology right 30,200 (4,054 ) 26,146 14.75 Acquired product distribution rights 6,207 (4,678 ) 1,529 1.00 Total intangible assets $ 78,583 $ (19,613 ) $ 58,970 12.67 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | December 31, (in thousands) 2024 (remaining 6 months) $ 3,259 2025 4,989 2026 4,989 2027 4,989 2028 4,988 Thereafter 32,497 Total future amortization expense $ 55,711 |
Note 8 - Accrued Liabilities (T
Note 8 - Accrued Liabilities (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, June 30, 2023 2023 (in thousands) Accrued savings offers $ 14,852 $ 15,739 Accrued program liabilities 11,841 11,012 Accrued customer and product related fees 5,699 6,579 Return reserve 5,129 5,777 Accrued employee compensation 3,362 5,675 Other accrued liabilities 2,530 2,017 Total accrued liabilities $ 43,413 $ 46,799 |
Note 9 - Other Liabilities (Tab
Note 9 - Other Liabilities (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Other Liabilities [Table Text Block] | December 31, June 30, 2023 2023 (in thousands) Fixed payment arrangements $ 9,043 $ 10,420 Operating lease liabilities 2,214 2,090 Employee retention credit 3,759 — Other 564 1,555 Total other liabilities 15,580 14,065 Less: current portion (9,236 ) (7,090 ) Total other liabilities, non-current $ 6,344 $ 6,975 |
Note 11 - Long-term Debt (Table
Note 11 - Long-term Debt (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | December 31, June 30, 2023 2023 (in thousands) Long-term debt, due on January 26, 2025 $ 15,000 $ 15,000 Long-term, final payment fee 638 638 Unamortized discount and issuance costs (660 ) (925 ) Financing leases, maturing through May 2024 39 85 Total debt 15,017 14,798 Less: current portion (39 ) (85 ) Non-current portion of debt $ 14,978 $ 14,713 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | December 31, (in thousands) 2024 (remaining 6 months) $ 39 2025 15,638 Future principal payments 15,677 Less: unamortized discount and issuance costs (660 ) Less: current portion (39 ) Non-current portion of debt $ 14,978 |
Note 12 - Fair Value Consider_2
Note 12 - Fair Value Considerations (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at December 31, 2023 Fair Value at December 31, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Liabilities: Derivative warrant liabilities 12,887 — — 12,887 Total $ 12,887 $ — $ — $ 12,887 Fair Value Measurements at June 30, 2023 Fair Value at June 30, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Liabilities: Derivative warrant liabilities 6,403 — — 6,403 Total $ 6,403 $ — $ — $ 6,403 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Derivative Warrant Liabilities (in thousands) Balance as of June 30, 2023 $ 6,403 Included in earnings 6,484 Balance as of December 31, 2023 $ 12,887 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | June 2023 Warrants Warrants Tranche A & B Other * Monte Carlo Simulation & Black-Scholes Black-Scholes Equivalent term (years) 4.44 3.09-3.69 Expected volatility 96.15% 96.15% Risk-free rate 3.88% 3.95-4.01% Dividend yield 0.00% 0.00% |
Note 15 - Equity Incentive Pl_2
Note 15 - Equity Incentive Plans (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Weighted Remaining Number of Average Contractual Options Exercise Price Life in Years Outstanding June 30, 2023 52,762 $ 18.37 9.06 Granted 112,000 $ 1.73 9.61 Forfeited/cancelled (15,060 ) $ 2.94 — Expired (615 ) $ 184.80 — Outstanding at December 31, 2023 149,087 $ 6.43 9.17 Exercisable at December 31, 2023 20,470 $ 30.18 8.02 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Weighted Average Grant Number of Date Fair Shares Value Unvested at June 30, 2023 38,075 $ 142.20 Granted 12,500 $ 1.77 Vested (12,189 ) $ 130.45 Forfeited/cancelled (457 ) $ 136.80 Unvested at December 31, 2023 37,929 $ 99.75 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Weighted Average Grant Number of Date Fair Shares Value Unvested at June 30, 2023 4,963 $ 25.62 Vested (1,126 ) $ 24.28 Forfeited (939 ) $ 31.60 Unvested at December 31, 2023 2,898 $ 24.19 |
Share-Based Payment Arrangement, Cost by Plan [Table Text Block] | Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 (in thousands) Cost of sales $ 1 $ 3 $ 1 $ 8 Research and development 2 14 3 23 Selling and marketing — 3 — 6 General and administrative 817 3,047 1,746 4,207 Total stock-based compensation expense $ 820 $ 3,067 $ 1,750 $ 4,244 |
Note 16 - Warrants (Tables)
Note 16 - Warrants (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Warrant or Right Activity | Weighted Average Weighted Remaining Number of Average Contractual Warrants Exercise Price Life in Years Outstanding June 30, 2023 6,538,052 $ 4.42 4.71 Warrants exercised (37,004 ) $ 2.32 — Warrants expired (20,958 ) $ 300.00 — Outstanding December 31, 2023 6,480,090 $ 3.48 4.22 |
Note 17 - Earnings Per Share (T
Note 17 - Earnings Per Share (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | December 31, 2023 2022 Warrants to purchase common stock - liability classified 6,498,980 1,642,235 Warrant to purchase common stock - equity classified 39,072 56,486 Employee stock options 149,087 52,861 Employee unvested restricted stock 40,017 48,280 Employee unvested restricted stock units 2,898 8,167 Total 6,730,054 1,808,029 |
Note 19 - Segment Reporting (Ta
Note 19 - Segment Reporting (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Rx Consumer Health Consolidated (in thousands) Three Months Ended December 31, 2023 Product revenue, net $ 18,748 $ 4,186 $ 22,934 Income (loss) from operations $ 3,146 $ (782 ) $ 2,364 Depreciation and amortization $ 1,510 $ 389 $ 1,899 Stock-based compensation expense $ 707 $ 113 $ 820 Three Months Ended December 31, 2022 Product revenue, net $ 18,029 $ 8,250 $ 26,279 Loss from operations $ (5,464 ) $ (1,404 ) $ (6,868 ) Depreciation and amortization $ 1,572 $ 281 $ 1,853 Impairment expense $ 2,600 $ — $ 2,600 Stock-based compensation expense $ 2,987 $ 80 $ 3,067 Rx Consumer Health Consolidated (in thousands) Six Months Ended December 31, 2023 Product revenue, net $ 36,565 $ 8,468 $ 45,033 Income (loss) from operations $ 2,280 $ (1,420 ) $ 860 Depreciation and amortization $ 3,064 $ 776 $ 3,840 Stock-based compensation expense $ 1,432 $ 318 $ 1,750 Six Months Ended December 31, 2022 Product revenue, net $ 36,681 $ 17,253 $ 53,934 Loss from operations $ (6,457 ) $ (2,219 ) $ (8,676 ) Depreciation and amortization $ 3,146 $ 562 $ 3,708 Impairment expense $ 2,600 $ — $ 2,600 Stock-based compensation expense $ 4,149 $ 95 $ 4,244 |
Note 1 - Nature of Business, _2
Note 1 - Nature of Business, Financial Condition, Basis of Presentation (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jan. 06, 2023 | Dec. 31, 2023 USD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2023 USD ($) | |
Number of Operating Segments | 2 | |||||||
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | $ 19,500 | $ 19,500 | ||||||
Accounts Receivable, after Allowance for Credit Loss, Current | 29,403 | 29,403 | $ 28,937 | |||||
Net Income (Loss) Attributable to Parent | (220) | $ (8,120) | $ (6,693) | $ (701) | (8,340) | $ (7,394) | ||
Retained Earnings (Accumulated Deficit) | (312,469) | (312,469) | $ (304,129) | |||||
Net Cash Provided by (Used in) Operating Activities | (346) | $ (11,588) | ||||||
Avenue Note [Member] | ||||||||
Debt Instrument, Face Amount | $ 15,000 | $ 15,000 | ||||||
Reverse Stock Split [Member] | ||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent | 136.20% | 0% | 11% | 0% |
Note 3 - Revenues From Contra_3
Note 3 - Revenues From Contract With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue | $ 22,934 | $ 26,279 | $ 45,033 | $ 53,934 |
Rx Segment [Member] | ||||
Revenue | 18,748 | 18,029 | 36,565 | 36,681 |
Rx Segment [Member] | ADHD Portfolio [Member] | ||||
Revenue | 16,572 | 11,120 | 31,700 | 22,705 |
Rx Segment [Member] | The Pediatric Portfolio [Member] | ||||
Revenue | 2,145 | 6,328 | 4,710 | 12,886 |
Rx Segment [Member] | Product and Service, Other [Member] | ||||
Revenue | 31 | 581 | 155 | 1,090 |
Consumer Health [Member] | ||||
Revenue | $ 4,186 | $ 8,250 | $ 8,468 | $ 17,253 |
Note 4 - Inventories (Details T
Note 4 - Inventories (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Inventory Write-down | $ 100 | $ 0 | $ 133 | $ 82 |
Note 4 - Inventories - Schedule
Note 4 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Raw materials | $ 1,654 | $ 1,301 |
Work in process | 2,674 | 2,956 |
Finished goods | 8,673 | 7,738 |
Inventories | $ 13,001 | $ 11,995 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Depreciation | $ 0.3 | $ 0.4 | $ 0.6 | $ 0.7 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Property and equipment, gross | $ 4,205 | $ 5,496 |
Less: accumulated depreciation and amortization | (3,078) | (3,681) |
Property and equipment, net | 1,127 | 1,815 |
Manufacturing Equipment [Member] | ||
Property and equipment, gross | 1,183 | 2,433 |
Office Equipment, Furniture and Other [Member] | ||
Property and equipment, gross | 1,146 | 1,125 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 999 | 999 |
Lab Equipment [Member] | ||
Property and equipment, gross | 832 | 832 |
Asset under Construction [Member] | ||
Property and equipment, gross | $ 45 | $ 107 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | |
Operating Lease, Right-of-Use Asset | [1] | $ 2,133 | $ 2,054 | |
Operating Lease, Liability | $ 2,214 | $ 2,090 | ||
Lease for Principal Office [Member] | ||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years 6 months | |||
Operating Lease, Right-of-Use Asset | $ 700 | |||
Operating Lease, Liability | $ 700 | |||
Lessee, Operating Lease, Discount Rate | 10.30% | |||
[1]Includes $0.2 million from the Consumer Health Segment as of December 31, 2023 and June 30, 2023. |
Note 6 - Leases - Lease Cost (D
Note 6 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | |
Total net lease cost | $ 418 | $ 399 | $ 816 | $ 802 | |
Operating lease assets (Year) | 2 years 7 months 13 days | 2 years 7 months 13 days | 1 year 8 months 19 days | ||
Finance lease assets (Year) | 4 months 13 days | 4 months 13 days | 10 months 13 days | ||
Operating lease assets | 8.85% | 8.85% | 7.78% | ||
Finance lease assets | 6.54% | 6.54% | 6.54% | ||
Operating cash flows from operating leases | $ 697 | 716 | |||
Operating cash flows from finance leases | 2 | 5 | |||
Financing cash flows from finance leases | 46 | 52 | |||
Operating Expense [Member] | |||||
Operating lease cost | $ 381 | 359 | 741 | 716 | |
Short-term lease cost | 21 | 19 | 44 | 44 | |
Cost of Sales [Member] | |||||
Amortization of leased assets | 15 | 19 | 29 | 37 | |
Other Expense [Member] | |||||
Interest on lease liabilities | $ 1 | $ 2 | $ 2 | $ 5 |
Note 6 - Leases - Lease Balance
Note 6 - Leases - Lease Balance Sheet Information (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 | |
Operating lease right-of-use assets | [1] | $ 2,133 | $ 2,054 |
Total lease assets | 2,133 | 2,213 | |
Total lease liabilities | 2,253 | 2,175 | |
Property and Equipment, Net [Member] | |||
Finance lease assets | 0 | 159 | |
Other Current Liabilities [Member] | |||
Operating leases | 1,369 | 1,258 | |
Current Portion of Debt [Member] | |||
Finance leases | 39 | 85 | |
Other Noncurrent Liabilities [Member] | |||
Operating leases | $ 845 | $ 832 | |
[1]Includes $0.2 million from the Consumer Health Segment as of December 31, 2023 and June 30, 2023. |
Note 6 - Leases - Schedule of L
Note 6 - Leases - Schedule of Lease Liability Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Operating lease, 2024 (remaining 6 months) | $ 735 | |
Finance lease, 2024 (remaining 6 months) | 40 | |
Operating lease, 2025 | 938 | |
Finance lease,2025 | 0 | |
Operating lease, 2026 | 282 | |
Finance lease,2026 | 0 | |
Operating lease, 2027 | 241 | |
Finance lease,2027 | 0 | |
Operating lease, 2028 | 199 | |
Finance lease,2028 | 0 | |
Operating lease, thereafter | 151 | |
Finance lease, thereafter | 0 | |
Total operating lease payments | 2,546 | |
Total finance lease payments | 40 | |
Operating lease, less: Imputed interest | (332) | |
Finance lease, less: Imputed interest | (1) | |
Operating lease liabilities | 2,214 | $ 2,090 |
Finance lease liabilities | $ 39 | $ 85 |
Note 7 - Intangible Assets (Det
Note 7 - Intangible Assets (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Amortization Expense of Intangible Assets | $ 1.6 | $ 1.5 | $ 3.3 | $ 3 | |
Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life, Renewable Period (Year) | 1 year | ||||
Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life, Renewable Period (Year) | 20 years | ||||
Patented Technology [Member] | ADHD Portfolio [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 17 years | 17 years | |||
Distribution Rights [Member] | Consumer Health [Member] | |||||
Impairment of Intangible Assets, Finite-Lived | $ 3 | ||||
In Process Research and Development [Member] | Rx Segment [Member] | Neos Therapeutics, Inc. [Member] | |||||
Impairment of Intangible Assets, Finite-Lived | $ 2.6 | ||||
Tris Karbinal Agreement [Member] | |||||
Supply and Distribution Agreement, Extension Term (Year) | 20 years |
Note 7 - Intangible Assets - Sc
Note 7 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Finite-lived intangible assets, gross | $ 77,874 | $ 78,583 |
Finite-lived intangible assets, amortization | (22,163) | (19,613) |
Finite-lived intangible assets, net | $ 55,711 | $ 58,970 |
Finite-lived intangible assets, remaining life (Year) | 12 years 4 months 6 days | 12 years 8 months 1 day |
Technology-Based Intangible Assets [Member] | ||
Finite-lived intangible assets, gross | $ 41,467 | $ 42,176 |
Finite-lived intangible assets, amortization | (11,777) | (10,881) |
Finite-lived intangible assets, net | $ 29,690 | $ 31,295 |
Finite-lived intangible assets, remaining life (Year) | 11 years 14 days | 11 years 5 months 26 days |
Developed Technology Rights [Member] | ||
Finite-lived intangible assets, gross | $ 30,200 | $ 30,200 |
Finite-lived intangible assets, amortization | (4,943) | (4,054) |
Finite-lived intangible assets, net | $ 25,257 | $ 26,146 |
Finite-lived intangible assets, remaining life (Year) | 14 years 3 months | 14 years 9 months |
Distribution Rights [Member] | ||
Finite-lived intangible assets, gross | $ 6,207 | $ 6,207 |
Finite-lived intangible assets, amortization | (5,443) | (4,678) |
Finite-lived intangible assets, net | $ 764 | $ 1,529 |
Finite-lived intangible assets, remaining life (Year) | 6 months | 1 year |
Note 7 - Intangible Assets - Fu
Note 7 - Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
2024 (remaining 6 months) | $ 3,259 | |
2025 | 4,989 | |
2026 | 4,989 | |
2027 | 4,989 | |
2028 | 4,988 | |
Thereafter | 32,497 | |
Total future amortization expense | $ 55,711 | $ 58,970 |
Note 8 - Accrued Liabilities -
Note 8 - Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Accrued savings offers | $ 14,852 | $ 15,739 |
Accrued program liabilities | 11,841 | 11,012 |
Accrued customer and product related fees | 5,699 | 6,579 |
Return reserve | 5,129 | 5,777 |
Accrued employee compensation | 3,362 | 5,675 |
Other accrued liabilities | 2,530 | 2,017 |
Total accrued liabilities | $ 43,413 | $ 46,799 |
Note 9 - Other Liabilities (Det
Note 9 - Other Liabilities (Details Textual) | 3 Months Ended | 6 Months Ended | ||
May 12, 2022 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Jun. 30, 2023 USD ($) | |
Fixed Payment Arrangements | $ 9,043,000 | $ 9,043,000 | $ 10,420,000 | |
Employee Retention Credit | 3,759,000 | $ 3,759,000 | $ 0 | |
Employee Retention Credit, Vendor Fee | $ 400,000 | |||
Tris Karbinal Agreement [Member] | ||||
Supply and Distribution Commitment, Period (Year) | 20 years | |||
Supply and Distribution Commitment, Royalty, Percentage of Net Sales | 23.50% | |||
Supply and Distribution Agreement, Minimum Sales Per Year | 70,000 | 70,000 | ||
Supply and Distribution Agreement, Make-whole Payment Per Unit for Sales Under Minimum | $ 30 | $ 30 | ||
Supply and Distribution Agreement, Maximum Yearly Make-whole Payment | 2,100,000 | 2,100,000 | ||
Supply and Distribution Agreement, Maximum Milestone Obligations | 3,000,000 | 3,000,000 | ||
Supply and Distribution Agreement, First Milestone, Minimum Net Revenues | 40,000,000 | |||
Tris Karbinal Agreement [Member] | Other Current Liabilities [Member] | ||||
Fixed Payment Arrangements | 1,800,000 | 1,800,000 | ||
Tris Karbinal Agreement [Member] | Other Noncurrent Liabilities [Member] | ||||
Fixed Payment Arrangements | 1,200,000 | 1,200,000 | ||
Tris License Agreement [Member] | ||||
Fixed Payment Arrangements | $ 9,000,000 | |||
Fixed Payment Arrangements, Liability, Reduction | $ 8,000,000 | |||
Tris License Agreement [Member] | Other Current Liabilities [Member] | ||||
Fixed Payment Arrangements | $ 6,000,000 | $ 6,000,000 |
Note 9 - Other Liabilities - Sc
Note 9 - Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Fixed payment arrangements | $ 9,043 | $ 10,420 |
Operating lease liabilities | 2,214 | 2,090 |
Employee retention credit | 3,759 | 0 |
Other | 564 | 1,555 |
Total other liabilities | 15,580 | 14,065 |
Less: current portion | (9,236) | (7,090) |
Total other liabilities, non-current | $ 6,344 | $ 6,975 |
Note 10 - Line of Credit (Detai
Note 10 - Line of Credit (Details Textual) - Eclipse Business Capital LLC Loan Agreement [Member] - Secured Debt [Member] - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Mar. 31, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | Mar. 24, 2023 | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 14,000,000 | ||||||
Line of Credit Facility, Maximum Borrowing Capacity, Portion Available for Short-term Swingline Loans | $ 3,500,000 | ||||||
Line of Credit Facility, Maximum Borrowing Capacity, Percentage of Eligible Accounts Receivable | 85% | ||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | ||||||
Interest Expense, Debt | $ 23,200 | $ 176,700 | $ 50,100 | $ 274,000 | |||
Long-Term Line of Credit | $ 1,000,000 | $ 1,000,000 | $ 1,600,000 | ||||
After January 26, 2023 But Before January 26, 2024 [Member] | |||||||
Line of Credit Facility, Termination, Fee, Percentage of Commitment | 1% | ||||||
After January 26, 2024 But Before January 26, 2025 [Member] | |||||||
Line of Credit Facility, Termination, Fee, Percentage of Commitment | 0.50% | ||||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 4.50% |
Note 11 - Long-term Debt (Detai
Note 11 - Long-term Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jan. 26, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | Oct. 25, 2022 | Mar. 07, 2022 | |
Debt Instrument, Final Payment | $ 638 | $ 638 | $ 638 | |||||
Avenue Capital Issuance [Member] | ||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 25 | |||||||
Avenue Capital Warrants [Member] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 24.2 | $ 8.6 | $ 24.2 | |||||
Warrants and Rights Outstanding | $ 600 | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 43,388 | |||||||
Avenue Capital Loan [Member] | ||||||||
Debt Instrument, Face Amount | $ 15,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | |||||||
Debt Instrument, Final Payment | $ 600 | |||||||
Loan Processing Fee | $ 400 | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 19.60% | 19.60% | ||||||
Interest Expense, Debt | $ 700 | $ 700 | $ 1,500 | $ 1,300 | ||||
Avenue Capital Loan [Member] | After January 26, 2023 But Before January 26, 2024 [Member] | ||||||||
Debt Instrument, Prepayment Fee, Percentage | 2% | |||||||
Avenue Capital Loan [Member] | After January 26, 2024 But Before January 26, 2025 [Member] | ||||||||
Debt Instrument, Prepayment Fee, Percentage | 1% | |||||||
Avenue Capital Loan [Member] | Prime Rate [Member] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 7.40% |
Note 11 - Long-term Debt - Sche
Note 11 - Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Long-term debt, due on January 26, 2025 | $ 15,000 | $ 15,000 |
Long-term, final payment fee | 638 | 638 |
Unamortized discount and issuance costs | (660) | (925) |
Finance lease liabilities | 39 | 85 |
Total debt | 15,017 | 14,798 |
Less: current portion | (39) | (85) |
Non-current portion of debt | $ 14,978 | $ 14,713 |
Note 11 - Long-term Debt - Futu
Note 11 - Long-term Debt - Future Principal Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
2024 (remaining 6 months) | $ 39 | |
2025 | 15,638 | |
Future principal payments | 15,677 | |
Less: unamortized discount and issuance costs | (660) | |
Less: current portion | (39) | $ (85) |
Non-current portion of debt | $ 14,978 | $ 14,713 |
Note 12 - Fair Value Consider_3
Note 12 - Fair Value Considerations - Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Financial liabilities, fair value | $ 12,887 | $ 6,403 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial liabilities, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial liabilities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial liabilities, fair value | 12,887 | 6,403 |
Derivative Financial Instruments, Liabilities [Member] | ||
Financial liabilities, fair value | 12,887 | 6,403 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial liabilities, fair value | 0 | 0 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial liabilities, fair value | 0 | 0 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial liabilities, fair value | $ 12,887 | $ 6,403 |
Note 12 - Fair Value Consider_4
Note 12 - Fair Value Considerations - Summary of Level 3 Changes (Details) - Derivative Financial Instruments, Liabilities [Member] - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 6 Months Ended |
Dec. 31, 2023 USD ($) | |
Balance | $ 6,403 |
Included in earnings | 6,484 |
Balance | $ 12,887 |
Note 12 - Fair Value Consider_5
Note 12 - Fair Value Considerations - Valuation Assumptions (Details) | Dec. 31, 2023 |
Measurement Input, Expected Term [Member] | June 2023 Warrants Tranche A & B [Member] | |
Derivative liability, measurement input | 4.44 |
Measurement Input, Expected Term [Member] | Other Warrants [Member] | Minimum [Member] | |
Derivative liability, measurement input | 3.09 |
Measurement Input, Expected Term [Member] | Other Warrants [Member] | Maximum [Member] | |
Derivative liability, measurement input | 3.69 |
Measurement Input, Price Volatility [Member] | June 2023 Warrants Tranche A & B [Member] | |
Derivative liability, measurement input | 0.9615 |
Measurement Input, Price Volatility [Member] | Other Warrants [Member] | |
Derivative liability, measurement input | 0.9615 |
Measurement Input, Risk Free Interest Rate [Member] | June 2023 Warrants Tranche A & B [Member] | |
Derivative liability, measurement input | 0.0388 |
Measurement Input, Risk Free Interest Rate [Member] | Other Warrants [Member] | Minimum [Member] | |
Derivative liability, measurement input | 0.0395 |
Measurement Input, Risk Free Interest Rate [Member] | Other Warrants [Member] | Maximum [Member] | |
Derivative liability, measurement input | 0.0401 |
Measurement Input, Expected Dividend Rate [Member] | June 2023 Warrants Tranche A & B [Member] | |
Derivative liability, measurement input | 0 |
Measurement Input, Expected Dividend Rate [Member] | Other Warrants [Member] | |
Derivative liability, measurement input | 0 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Details Textual) | 1 Months Ended | 6 Months Ended | ||
Apr. 30, 2022 USD ($) | Dec. 31, 2023 USD ($) | Feb. 22, 2023 shares | Apr. 12, 2021 USD ($) | |
Sabby Volatility Warrant Master Fund Ltd. [Member] | Sabby Litigation [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 312,908 | |||
Sabby Volatility Warrant Master Fund Ltd. [Member] | Sabby Litigation [Member] | Sabby Litigation Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 575,000 | |||
Walleye Opportunities Master Fund Ltd. [Member] | Sabby Litigation [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 54,146 | |||
Walleye Opportunities Master Fund Ltd. [Member] | Sabby Litigation [Member] | Sabby Litigation Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 100,000 | |||
Rumpus Acquisition [Member] | Earn Out Payments [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 67,500,000 | |||
Payment for Contingent Consideration Liability, Operating Activities | $ 600,000 | |||
Rumpus Acquisition [Member] | Royalties [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 101,700,000 | |||
License Agreement, Royalty Percentage | 3% | |||
License Agreement, Minimum Annual Royalty Payment | $ 20,000 | |||
Rumpus Acquisition [Member] | Milestone Payments [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 1,600,000 | |||
Tris Karbinal Agreement [Member] | ||||
Supply and Distribution Commitment, Period (Year) | 20 years | |||
Supply and Distribution Commitment, Royalty, Percentage of Net Sales | 23.50% | |||
Supply and Distribution Agreement, Minimum Sales Per Year | 70,000 | |||
Supply and Distribution Agreement, Make-whole Payment Per Unit for Sales Under Minimum | $ 30 | |||
Supply and Distribution Agreement, Maximum Yearly Make-whole Payment | 2,100,000 | |||
Supply and Distribution Agreement, Maximum Milestone Obligations | 3,000,000 | |||
Supply and Distribution Agreement, First Milestone, Minimum Net Revenues | $ 40,000,000 |
Note 14 - Capital Structure (De
Note 14 - Capital Structure (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended | ||||||
Jun. 08, 2023 | Aug. 11, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | Sep. 28, 2021 | Jun. 04, 2021 | Jun. 08, 2020 | |
Common Stock, Shares Authorized (in shares) | 200,000,000 | 200,000,000 | ||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | ||||||
Preferred Stock, Shares Authorized (in shares) | 50,000,000 | 50,000,000 | ||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | ||||||
Common Stock, Shares, Outstanding (in shares) | 5,567,347 | 5,517,174 | ||||||
Proceeds from Issuance or Sale of Equity | $ 86 | $ 11,573 | ||||||
Payments of Stock Issuance Costs | 160 | $ 1,000 | ||||||
August 2022 Prefunded Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 87,500 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.02 | |||||||
August 2022 Common Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,265,547 | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 8.6 | $ 3.3 | $ 2.32 | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||
August 2022 Common and Prefunded Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||
Sale of Stock, Price Per Share (in dollars per share) | $ 8.58 | |||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||
Warrants and Rights Outstanding | $ 6,000 | |||||||
Pre-Funded Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 430,217 | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | |||||||
Tranche A Common Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,173,912 | |||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||
Tranche B Common Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,173,912 | |||||||
Common Warrants [Member] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.59 | |||||||
Common Warrants Exchanged for PreFunded Warrants [Member] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | 1.5899 | |||||||
Tranche A Common Warrants at Double Exercise Price [Member] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.18 | |||||||
Securities Purchase Agreement Warrants [Member] | ||||||||
Warrants and Rights Outstanding | $ 5,000 | |||||||
Payments of Stock Issuance Costs | $ 600 | |||||||
The 2020 Shelf [Member] | ||||||||
Sale of Stock, Maximum Amount of Equity Issuable | $ 100,000 | |||||||
At-the-market Offering [Member] | ||||||||
Sale of Stock, Maximum Amount of Equity Issuable | $ 30,000 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 699,929 | |||||||
Proceeds from Issuance or Sale of Equity | $ 2,900 | |||||||
The 2021 Shelf [Member] | ||||||||
Sale of Stock, Maximum Amount of Equity Issuable | $ 100,000 | |||||||
Sale of Stock, Remaining Amount Available | $ 82,400 | |||||||
The August 2022 Offering [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,075,290 | |||||||
Proceeds from Issuance or Sale of Equity | $ 10,000 | |||||||
Sale of Stock, Price Per Share (in dollars per share) | $ 8.6 | |||||||
Payment of Financing and Stock Issuance Costs | $ 900 | |||||||
Securities Purchase Agreement [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,743,695 | |||||||
Proceeds from Issuance or Sale of Equity | $ 4,000 | |||||||
Payment of Financing and Stock Issuance Costs | 3,400 | |||||||
Class of Warrant or Right, Covenant, Adjusted EBITDA | $ 12,000 | |||||||
Restricted Stock [Member] | ||||||||
Common Stock, Shares, Outstanding (in shares) | 40,017 |
Note 15 - Equity Incentive Pl_3
Note 15 - Equity Incentive Plans (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | 12 Months Ended | |||||
May 18, 2023 | Apr. 19, 2021 | Jun. 01, 2015 | Dec. 31, 2023 | Dec. 31, 2023 | Jun. 30, 2023 | Feb. 13, 2020 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 149,087 | 149,087 | 52,762 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.73 | ||||||
Share-Based Payment Arrangement, Option [Member] | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 0.4 | $ 0.4 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 6 days | ||||||
Restricted Stock [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 37,929 | 37,929 | 38,075 | ||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 2,898 | 2,898 | 4,963 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 0.1 | $ 0.1 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 2 months 12 days | ||||||
The 2023 Equity Incentive Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 200,000 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 87,129 | ||||||
The 2023 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||||
The 2023 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | ||||||
The 2023 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
The 2023 Equity Incentive Plan [Member] | Restricted Stock and Restricted Stock Units (RSUs) [Member] | Minimum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | ||||||
The 2023 Equity Incentive Plan [Member] | Restricted Stock and Restricted Stock Units (RSUs) [Member] | Maximum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
The 2023 Equity Incentive Plan [Member] | Restricted Stock [Member] | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 2 | $ 2 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | ||||||
The 2015 Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 179,732 | 179,732 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 150,000 | 250,000 | |||||
The 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||||
The 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | ||||||
The 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Minimum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
The 2015 Plan [Member] | Restricted Stock [Member] | Maximum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 10 years | ||||||
The 2015 Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
Neos 2015 Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 5,272 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 3,486 | ||||||
Neos 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||||
Neos 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 1 year | ||||||
Neos 2015 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
Neos 2015 Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 1,786 | ||||||
Outside Equity Incentive Plan [Member] | Restricted Stock [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 2,088 | 2,088 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 0.3 | $ 0.3 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 1 month 6 days |
Note 15 - Equity Incentive Pl_4
Note 15 - Equity Incentive Plans - Stock Option Activity (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Jun. 30, 2023 | |
Outstanding, options (in shares) | 52,762 | |
Outstanding, options, weighted average exercise price (in dollars per share) | $ 18.37 | |
Outstanding, options, weighted average remaining contractual life (Year) | 9 years 2 months 1 day | 9 years 21 days |
Granted, options (in shares) | 112,000 | |
Granted, options, weighted average exercise price (in dollars per share) | $ 1.73 | |
Granted, options, weighted average remaining contractual life (Year) | 9 years 7 months 9 days | |
Forfeited/Cancelled, options (in shares) | (15,060) | |
Forfeited/Cancelled, options, weighted average exercise price (in dollars per share) | $ 2.94 | |
Expired, options (in shares) | (615) | |
Expired, options, weighted average exercise price (in dollars per share) | $ 184.8 | |
Outstanding, options (in shares) | 149,087 | 52,762 |
Outstanding, options, weighted average exercise price (in dollars per share) | $ 6.43 | $ 18.37 |
Exercisable, options (in shares) | 20,470 | |
Exercisable, options, weighted average exercise price (in dollars per share) | $ 30.18 | |
Exercisable, options, weighted average remaining contractual life (Year) | 8 years 7 days |
Note 15 - Equity Incentive Pl_5
Note 15 - Equity Incentive Plans - Restricted Stock Activity (Details) - Restricted Stock [Member] | 6 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Unvested, shares (in shares) | shares | 38,075 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 142.2 |
Granted, shares (in shares) | shares | 12,500 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.77 |
Vested, shares (in shares) | shares | (12,189) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 130.45 |
Forfeited/cancelled, shares (in shares) | shares | (457) |
Forfeited/cancelled, weighted average grant date fair value (in dollars per share) | $ / shares | $ 136.8 |
Unvested, shares (in shares) | shares | 37,929 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 99.75 |
Note 15 - Equity Incentive Pl_6
Note 15 - Equity Incentive Plans - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] | 6 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Unvested, shares (in shares) | shares | 4,963 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 25.62 |
Vested, shares (in shares) | shares | (1,126) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 24.28 |
Forfeited, shares (in shares) | shares | (939) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 31.6 |
Unvested, shares (in shares) | shares | 2,898 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 24.19 |
Note 15 - Equity Incentive Pl_7
Note 15 - Equity Incentive Plans - Stock Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Total stock-based compensation expense | $ 820 | $ 3,067 | $ 1,750 | $ 4,244 |
Cost of Sales [Member] | ||||
Total stock-based compensation expense | 1 | 3 | 1 | 8 |
Research and Development Expense [Member] | ||||
Total stock-based compensation expense | 2 | 14 | 3 | 23 |
Selling and Marketing Expense [Member] | ||||
Total stock-based compensation expense | 0 | 3 | 0 | 6 |
General and Administrative Expense [Member] | ||||
Total stock-based compensation expense | $ 817 | $ 3,047 | $ 1,746 | $ 4,207 |
Note 16 - Warrants (Details Tex
Note 16 - Warrants (Details Textual) $ / shares in Units, $ in Millions | Jun. 08, 2023 USD ($) $ / shares shares | Jan. 06, 2023 | Jun. 30, 2023 $ / shares | Dec. 31, 2022 $ / shares | Aug. 11, 2022 $ / shares shares |
Reverse Stock Split [Member] | |||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 | ||||
Pre-Funded Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 430,217 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.0001 | ||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||
Tranche A Common Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,173,912 | ||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||
Tranche B Common Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,173,912 | ||||
Common Warrants [Member] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.59 | ||||
Common Warrants Exchanged for PreFunded Warrants [Member] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | 1.5899 | ||||
Tranche A Common Warrants at Double Exercise Price [Member] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 3.18 | ||||
August 2022 Prefunded Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 87,500 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.02 | ||||
August 2022 Common Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,265,547 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.32 | $ 3.3 | $ 8.6 | ||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||
August 2022 Common Warrants [Member] | Minimum [Member] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.32 | ||||
August 2022 Common Warrants [Member] | Maximum [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,325,581 | ||||
Securities Purchase Agreement [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,743,695 | ||||
Class of Warrant or Right, Covenant, Adjusted EBITDA | $ | $ 12 |
Note 16 - Warrants - Schedule o
Note 16 - Warrants - Schedule of Warrants Outstanding (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Jun. 30, 2023 | |
Warrants outstanding (in shares) | 6,538,052 | |
Warrants, weighted average remaining contractual life (Year) | 4 years 2 months 19 days | 4 years 8 months 15 days |
Warrants exercised (in shares) | (37,004) | |
Warrants expired, weighted average exercise price (in shares) | (20,958) | |
Warrants outstanding (in shares) | 6,480,090 | 6,538,052 |
Weighted Average [Member] | ||
Warrants, weighted average exercise price (in dollars per share) | $ 4.42 | |
Warrants exercised, weighted average exercise price (in dollars per share) | 2.32 | |
Warrants expired (in dollars per share) | 300 | |
Warrants, weighted average exercise price (in dollars per share) | $ 3.48 | $ 4.42 |
Note 17 - Earnings Per Share -
Note 17 - Earnings Per Share - Schedule of Anti-Dilutive Securities (Details) - shares | 6 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Antidilutive securities (in shares) | 6,730,054 | 1,808,029 |
Liability Warrants [Member] | ||
Antidilutive securities (in shares) | 6,498,980 | 1,642,235 |
Equity Warrants [Member] | ||
Antidilutive securities (in shares) | 39,072 | 56,486 |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive securities (in shares) | 149,087 | 52,861 |
Restricted Stock [Member] | ||
Antidilutive securities (in shares) | 40,017 | 48,280 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive securities (in shares) | 2,898 | 8,167 |
Note 19 - Segment Reporting (De
Note 19 - Segment Reporting (Details Textual) | 6 Months Ended |
Dec. 31, 2023 | |
Number of Reportable Segments | 2 |
Note 19 - Segment Reporting - S
Note 19 - Segment Reporting - Schedule of Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Product revenue, net | $ 22,934 | $ 26,279 | $ 45,033 | $ 53,934 |
Income (loss) from operations | 2,364 | (6,868) | 860 | (8,676) |
Depreciation and amortization | 1,899 | 1,853 | 3,840 | 3,708 |
Stock-based compensation expense | 820 | 3,067 | 1,750 | 4,244 |
Impairment expense | 0 | 2,600 | 0 | 2,600 |
Rx Segment [Member] | ||||
Product revenue, net | 18,748 | 18,029 | 36,565 | 36,681 |
Income (loss) from operations | 3,146 | (5,464) | 2,280 | (6,457) |
Depreciation and amortization | 1,510 | 1,572 | 3,064 | 3,146 |
Stock-based compensation expense | 707 | 2,987 | 1,432 | 4,149 |
Impairment expense | 2,600 | 2,600 | ||
Consumer Health [Member] | ||||
Product revenue, net | 4,186 | 8,250 | 8,468 | 17,253 |
Income (loss) from operations | (782) | (1,404) | (1,420) | (2,219) |
Depreciation and amortization | 389 | 281 | 776 | 562 |
Stock-based compensation expense | $ 113 | 80 | $ 318 | 95 |
Impairment expense | $ 0 | $ 0 |