<SEC-DOCUMENT>0001567619-21-007653.txt : 20210405
<SEC-HEADER>0001567619-21-007653.hdr.sgml : 20210405
<ACCEPTANCE-DATETIME>20210405191401
ACCESSION NUMBER:		0001567619-21-007653
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210331
FILED AS OF DATE:		20210405
DATE AS OF CHANGE:		20210405

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Eisenstadt Richard I
		CENTRAL INDEX KEY:			0001515806

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38247
		FILM NUMBER:		21807423

	MAIL ADDRESS:	
		STREET 1:		4819 EMPEROR BOULEVARD
		STREET 2:		SUITE 400
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703

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>2021-03-31</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001515806</rptOwnerCik>
            <rptOwnerName>Eisenstadt Richard I</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>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.001</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13734</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 6,358 shares issued as restricted stock units (&quot;RSUs&quot;).  Each RSU represents a contingent right to receive one share of AYTU common stock.  The RSUs vest as follows, and have no voting or dispositive rights until vested:  408 RSUs vest on May 21, 2021; 510 RSUs vest on March 1, 2022, and 5,440 RSUs vest on March 2, 2022, subject to the reporting person's continuing employment with the Issuer.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard I. Eisenstadt</signatureName>
        <signatureDate>2021-04-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
