<SEC-DOCUMENT>0001567619-21-006990.txt : 20210326
<SEC-HEADER>0001567619-21-006990.hdr.sgml : 20210326
<ACCEPTANCE-DATETIME>20210326093014
ACCESSION NUMBER:		0001567619-21-006990
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210319
FILED AS OF DATE:		20210326
DATE AS OF CHANGE:		20210326

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hecht Beth
		CENTRAL INDEX KEY:			0001652410

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38247
		FILM NUMBER:		21775063

	MAIL ADDRESS:	
		STREET 1:		C/O NEOS THERAPEUTICS, INC.
		STREET 2:		2940 N. HIGHWAY 360
		CITY:			GRAND PRAIRIE
		STATE:			TX
		ZIP:			75050

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AYTU BIOPHARMA, INC
		CENTRAL INDEX KEY:			0001385818
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				470883144
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		373 INVERNESS PARKWAY
		STREET 2:		SUITE 206
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		(720) 437-6580

	MAIL ADDRESS:	
		STREET 1:		373 INVERNESS PARKWAY
		STREET 2:		SUITE 206
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AYTU BIOSCIENCE, INC
		DATE OF NAME CHANGE:	20150609

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AYTU BIOSCIENCE, INC.
		DATE OF NAME CHANGE:	20150609

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Rosewind CORP
		DATE OF NAME CHANGE:	20070110
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2021-03-19</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001385818</issuerCik>
        <issuerName>AYTU BIOPHARMA, INC</issuerName>
        <issuerTradingSymbol>AYTU</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001652410</rptOwnerCik>
            <rptOwnerName>Hecht Beth</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O AYTU BIOPHARMA, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>373 INVERNESS PARKWAY, SUITE 206</rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.0001</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2552</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Includes restricted stock units of Neos Therapeutics, Inc., previously held by the reporting person, which converted into common stock of the Issuer at an exchange rate of 0.1088 pursuant to the terms of a merger agreement dated December 10, 2020, filed with the Securities and Exchange Commission as Exhibit 2.1 to the Issuer's 8-K dated March 22, 2021.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Beth Hecht</signatureName>
        <signatureDate>2021-03-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
