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1.60
3.23%
0.05
After Hours:
1.65
0.05
+3.12%
Why is Aytu Biopharma Inc (AYTU) Stock down?
We've noticed a 11.17% decline in Aytu Biopharma Inc (AYTU) stock during the 2024-11-14 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
15 Nov, 2023:
Shares of Aytu Biopharma Inc (AYTU) dropped by 22.11% from $2.94 to $2.29 in the trading on Wednesday, Novemeber 15, 2023. The reason why AYTU is down today is due to weak quarterly results.
- In the first quarter of fiscal 2024, AYTU reported total net revenue of $22.1 million, down from $27.7 million in the previous year. This decline was mainly due to the planned phasing out of the Consumer Health segment and the subsequent decrease in revenue from that segment.
- Although there was a positive note with a 31% increase in net revenue for ADHD products, such as Adzenys XR-ODT® and Cotempla XR-ODT®, totaling $15.1 million, the overall weaker financial performance and the strategic decision to wind down the unprofitable Consumer Health segment likely contributed to the drop in AYTU's stock price.
- Investors tend to react negatively to weak financial results, leading to a decrease in stock value as they reassess the company's prospects and financial health.
0.79%
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