XML 25 R12.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Acquisitions | 12 Months Ended
--- | ---
Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Acquisitions - Neos Acquisition | Neos Acquisition On March 19, 2021, the Company acquired Neos, a commercial-stage pharmaceutical company. Neos merged into, a subsidiary of the Company (“the Neos Acquisition”) and all outstanding Neos common stock was exchanged for approximately 5.5 million shares of the Company’s common stock. The Company incurred (i) approximately $2.9 million of acquisition related costs, recognized as part of operating expense, and (ii) $0.1 million of issuance costs, recognized as a component of stockholders’ equity. The following table summarizes the fair value of assets acquired and liabilities assumed in the acquisition: ​
​ | ​ | ​ | ​
​ |  | March 19, 2021
​ | ​ | (In thousands, except share and per-share)
Considerations: | ​ | ​ | ​
Fair Value of Aytu Common Stock | ​ | ​ | ​
Total shares issued at close | ​ |  | 5,471,804
Fair value per share of Aytu common stock |  | $ | 9.73
Fair value of equity consideration transferred |  | $ | 53,241
Cash | ​ | ​ | 15,383
Estimated fair value of replacement equity awards | ​ | ​ | 432
Total consideration transferred |  | $ | 69,056
​
​ | ​ | ​ | ​
​ | ​ | March 19, 2021
​ | ​ | (In thousands)
Total consideration transferred |  | $ | 69,056
Recognized amounts of identified assets acquired and liabilities assumed | ​ | ​ | ​
Cash and cash equivalents |  | $ | 15,722
Accounts receivable | ​ | ​ | 24,696
Inventory | ​ | ​ | 10,984
Prepaid expenses and other current assets | ​ | ​ | 2,929
Operating leases right-to-use assets | ​ | ​ | 3,515
Property, plant and equipment | ​ | ​ | 5,519
Intangible assets | ​ | ​ | 56,530
Other long-term assets | ​ | ​ | 149
Accounts payable and accrued expenses | ​ | ​ | (56,718)
Short-term line of credit | ​ | ​ | (10,707)
Long-term debt, including current portion | ​ | ​ | (17,678)
Operating lease liabilities | ​ | ​ | (3,515)
Other long-term liabilities | ​ | ​ | (82)
Total identifiable net assets |  | ​ | 31,344
Goodwill |  | $ | 37,712
​ The fair values of the identifiable intangible assets acquired were as follows; ​
​ | ​ | ​ | ​
​ | ​ | March 19, 2021
​ | ​ | (In thousands)
Identified intangible assets acquired: | ​ | ​ | ​
Developed technology right |  | $ | 30,200
Developed products technology | ​ | ​ | 22,700
In-process R&D | ​ | ​ | 2,600
RxConnect | ​ | ​ | 630
Trade name | ​ | ​ | 400
Total intangible assets acquired |  | $ | 56,530
​ The fair value of the Neos trade name, in-process R&D and developed product technology, which is the proprietary technology for the development of Adzenys XR-ODT, Adzenys ER, Cotempla XR-ODT and generic Tussionex, were determined using the relief from royalty method. The fair value of the developed technology right, which is a proprietary modified-release drug delivery technology, was determined using multi-period excess earnings method. The fair value of RxConnect was determined using the cost to recreate method. The finite-lived intangible assets are being amortized over a range of 1 to 17 years. The following supplemental unaudited proforma financial information presents the Company’s results as if the Neos acquisition had occurred on July 1, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended
​ | ​ | June 30,
​ |  | 2022 |  | 2021
​ | ​ | ​ | ​ | Pro forma
​ | ​ | Unaudited |  | Unaudited
​ | ​ | (In thousands)
Total revenues, net | ​ | $ | 96,669 | ​ | $ | 98,085
Net loss | ​ | $ | (110,173) | ​ | $ | (74,710)
​ ​ A R101 Acquisition

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4946-128472 + Details
Name: | us-gaap_BusinessCombinationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration