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Equity Instruments (Tables)

9 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

time of the grant for treasury securities of similar maturity. Aytu has computed the fair value of all options granted during the nine months ended March 31, 2016 using the following assumptions:

Expected volatility	75.00	%
Risk free interest rate	1.21% - 1.90	%
Expected term (years)	3.75 - 6.25
Dividend yield	0	%

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Stock option activity is as follows:

			Weighted		Weighted Average
	Number of		Average		Remaining Contractual
	Options		Exercise Price		Life in Years
Outstanding June 30, 2015		-	$	-
Granted		3,717,500	$	1.55
Exercised		-	$	-
Forfeited/Cancelled		(50,000)	$	1.51
Outstanding March 31, 2016		3,667,500	$	1.55	9.55
Exercisable at March 31, 2016		1,477,500	$	1.51	9.62
Available for grant at March 31, 2016		6,332,500

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The following table summarizes stock-based compensation expense for the three and nine months ended March 31, 2016 and for the stock-based compensation expense related to the Luoxis and Vyrix options for the three and nine months ended March 31, 2015:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2016		2015		2016		2015
Research and development expenses Stock options	$	38,000	$	115,000	$	63,000	$	323,000

Selling, general and administrative expenses Stock options		258,000		157,000		484,000		427,000
	$	296,000	$	272,000	$	547,000	$	750,000

Unrecognized expense at March 31, 2016	$	1,554,000

Weighted average remaining years to vest		2.90

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

				Weighted		Weighted Average
	Number of			Average		Remaining Contractual
		Warrants		Exercise Price		Life in Years

Outstanding June 30, 2015			102,613	$	4.53		2.92
Warrants issued to placement agents for convertible promissory notes			267,052	$	0.65
Outstanding March 31, 2016 (unaudited)			369,665	$	1.73		3.78

Schedule of Share-based Payment Award, Warrants, Valuation Assumptions [Table Text Block]

Significant assumptions in valuing the warrant liability related to the placement agent warrants issued during the March 31, 2016 quarter were as follows:

Expected volatility	75	%
Risk free interest rate	1.36% - 1.37	%
Contractual term (years)	4.6
Dividend yield	0	%

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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