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Equity Instruments (Tables)

9 Months Ended

12 Months Ended

Mar. 31, 2016

Jun. 30, 2015

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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

The following table summarizes stock-based compensation expense for the years ended June 30 2015 and 2014:

		Years Ended June 30,
		2015			2014
Research and development expenses
Stock options
Luoxis		$	427,000		$	206,000
Vyrix			92,000			38,000
General and administrative expenses
Stock options
Luoxis			316,000			152,000
Vyrix			183,000			104,000
		$	1,018,000		$	500,000
Unrecognized expense at June 30, 2015
Luoxis		$	—
Vyrix		$	—
Weighted average remaining years to vest
Luoxis			—
Vyrix			—

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

Aytu issued warrants in conjunction with its 2013 private placement. A summary of all warrants is as follows:

		Number of Warrants			Weighted Average Exercise Price			Weighted Average Remaining Contractual Life
Outstanding June 30, 2013			102,613		$	4.53			4.41
Outstanding June 30, 2014			102,613		$	4.53			3.92
Outstanding June 30, 2015			102,613		$	4.53			2.92

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	%

Luoxis Diagnostics [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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

The assumptions are as follows:

		Years Ended June 30,
		2015			2014
Expected volatility			79% - 108%			79% - 82%
Risk free interest rate			1.62% - 2.09%			0.75% - 1.53%
Expected term (years)			5.5 - 7.0			5.0 - 6.5
Dividend yield			0%			0%

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

Stock option activity is as follows:

								Weighted
					Weighted			Average
					Average			Remaining			Aggregate
		Number of			Exercise			Contractual			Intrinsic
		Options			Price			Life			Value
Outstanding June 30, 2013			396,994		$	4.53			9.96		$	1,272,000
Granted			33,083		$	4.53
Exercised			—		$	—
Forfeited/Cancelled			—		$	—
Outstanding June 30, 2014			430,077		$	4.53			9.01		$	1,374,000
Granted			195,189		$	7.25
Exercised			—		$	—
Forfeited/Cancelled			(625,266)		$	5.40
Outstanding June 30, 2015			—		$	—
Exercisable at June 30, 2015			—		$	—
Available for grant at June 30, 2015			—

Vyrix Pharmaceuticals Inc [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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

The assumptions are as follows:

		Year Ended June 30,
		2014
Expected volatility			63% - 76%
Risk free interest rate			0.90% - 2.02%
Expected term (years)			5.0 - 6.5
Dividend yield			0%

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

Stock option activity is as follows:

								Weighted
					Weighted			Average
					Average			Remaining			Aggregate
		Number of			Exercise			Contractual			Intrinsic
		Options			Price			Life			Value
Outstanding June 30, 2013			—		$	—			—		$	—
Granted			117,053		$	5.68
Exercised			—		$	—
Forfeited/Cancelled			—		$	—
Outstanding June 30, 2014			117,053		$	5.68			9.54		$	417,000
Granted			—		$	—
Exercised			—		$	—
Forfeited/Cancelled			(117,053)		$	5.68
Outstanding June 30, 2015			—		$	—
Exercisable at June 30, 2015			—		$	—
Available for grant at June 30, 2015			—

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Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

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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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