All right. Hello everyone, and thank you all for joining us during the Lytham Partners Spring 2026 Investor Conference. Again, my name is Robert Blum, Managing Partner at Lytham Partners, and today we welcome Aytu BioPharma and their Chief Executive Officer, Josh Disbrow, and Chief Financial Officer, Ryan Selhorn, who are both going to be walking us through the company slide presentation. As a reminder, Aytu trades under the ticker symbol AYTU on the Nasdaq. With that, gentlemen, the floor is yours.
Great. Thank you, Robert. Hello everyone. Good to be with you. It's really an exciting time. If you're hearing the Aytu story for the first time, if you've heard it recently, we've really made an interesting transition, are really in the midst of an exciting product launch here, which we'll talk about here today. Again, our ticker symbol is AYTU, traded on the Nasdaq. Our moniker is Medicines Made for Life, which we take very seriously as a company that's in the commercial stage of our life cycle with products that specifically address diseases of the central nervous system, which we'll speak about. Ryan and I may be making some forward-looking statements as we speak with you today. Just bear that in mind during the course of today's presentation.
As I mentioned, we are a commercial stage pharmaceutical company focused largely in central nervous system conditions, most notably major depressive disorder, or MDD, as well as ADHD, or attention-deficit hyperactivity disorder. We have a small product line comprised largely of pediatric products, and these are largely legacy brands. We have a portfolio that we've built out over the years through efficient M&A. We've really built a solid portfolio, most notably our ADHD line, which has been commercial for quite some time. We acquired that product line through an acquisition quite a few years ago. Those products have continued to perform well. Really the centerpiece of our commercial efforts on a go-forward basis is EXXUA, a very exciting product indicated for depression amongst adults. We'll be talking a fair amount about that.
The company has, as I said, recently launched EXXUA for MDD or major depressive disorder. We commercialize, by the way, exclusively here in the United States through our sales force, which we'll speak to here in a little bit. Our revenues largely have comprised, though, prior to EXXUA, of our ADHD portfolio, which we'll speak about here briefly, as well as our pediatric portfolio. Understanding that these products are relatively mature and quite close to losing exclusivity, we have wound down promotion around those products in favor of focusing promotion on EXXUA, which we launched very early this year and really just got out into the field essentially between the middle part of January and the end of February. Really just out getting our feet under us. As you can see, EXXUA is already contributing relatively substantially here in the early innings.
Our trailing 12 months revenue for the ADHD portfolio is just under $49 million. As you can see, trailing 12 revenues for the pediatric portfolio is just over $5 million. Again, fairly nice early contribution from EXXUA, comprised of both stocking units, so initial inventory load-in into the channel, as well as some early pull-through in the form of prescription demand, so about $2.6 million in trailing 12 revenue, the bulk of which came in the March quarter, which I mentioned was really the first partial quarter of commercialization of EXXUA. Moving to the next slide, we do have an internal sales force comprised of about 40 sales representatives. Again, we commercialize exclusive here in the U.S., we cover psychiatry practices. We're very focused, we're very efficient.
We do cover relatively large geographies, but we really focus very specifically on those highest volume prescribers, those that tend to be brand-centric psychiatry practice that tend to write newer medications. EXXUA being a new medication is a product that we definitely want to showcase to those prescribers that have shown themselves to be early adopters of brands. We augment our sales infrastructure with some contract sales representatives through a CSO or contract sales organization with the full intention that as those sales representatives perform, we'll bring those on as regular W-2 employees, and we've got quite a few of those rolling on here in the relative near term. One of the things that really makes Aytu unique and stand apart from its competitors is the way we distribute our products and the way we interface with patients.
It's no surprise to anyone listening that getting branded medications into the hands of patients in the U.S. is anything but easy. We've really smoothed that process to have significantly less friction. We do that by aligning with a group of independent pharmacies around the country, recommending that physician customers prescribe and send our medication to those pharmacies for filling. That really affords patients a very smooth process whereby they can get the product as they expect to get it. They can get it at a copay that is, if not the lowest, among the lowest that they can really get anywhere, and they do it with minimal hassle. For that reason, we really choose to operate largely aligned to these independent pharmacies and a small group of regional grocery chains that tend to deliver very high levels of customer service.
This system works very well and enables patients and physicians, as importantly, to get prescriptions and to do it in a smooth way, and it really cuts through some of the noise and it makes it repeatable, creates a high level of stickiness and a high level of patient adherence, which of course is the name of the game anytime you're talking about treating patients that have a chronic illness like major depressive disorder or ADHD. Really the centerpiece of our promotional efforts going forward is EXXUA, as I've referred to here a couple of times, and this is truly a new way to treat major depressive disorder. It's a product unlike any other products on the market and really is something that we believe can potentially change the landscape of how major depressive disorder is treated in this country, and we're very excited about it.
First, I'll say, though, before getting into the specifics around EXXUA, is that the major depressive category is, first of all, enormous. It is a category that is characterized by over $22 billion in gross revenues, about $7+ billion in net revenues. MDD affects an estimated 21 million people in just the United States. It typically is characterized by about 345 million prescriptions being generated in the United States each year. What's important to know about this category is it's largely treated with SSRIs, and these are products that are, for example, like Prozac and Paxil and Zoloft and Lexapro. They've been used and prescribed for many years.
The challenge with most of these medications, in fact, all of them, is they all report very high rates of sexual dysfunction and relatively high rates as well of weight gain. You have up to 70% of patients experiencing those treatment emergent sexual side effects. You have upwards of 65%-70% complaining of weight gain, and a significant number of patients end up stopping therapy or having to switch, and that's where EXXUA comes in. EXXUA is a first-in-class treatment for MDD, and that is the first and only FDA-approved, what's called 5-HT1A agonist. That's the first time it's ever been approved for depression. It's unique in that it specifically targets, again, the 1A serotonin receptor. It does not hit the other serotonin receptors, of which there are essentially seven families and 14 subtypes.
You're talking about selective serotonin reuptake inhibitors essentially impacting, to one degree or another, all of these serotonin receptors, whereas with EXXUA, you're targeting and upregulating one specific subtype of the 5-HT1, specifically the A subtype, and therefore not impacting the other serotonin subtypes, and therefore, by extension, not causing the sexual side effects nor the weight gain issues. By the way, it's a non-activating treatment, so it doesn't increase anxiety.
What we have competing in a very, very large category of, again, upwards of 21 million Americans and upwards of 345 million prescriptions annually, a product that stands alone with a very novel mechanism of action, and a product that really stands apart in terms of how it works, and the fact, most importantly, that not only does it work to treat depression, it doesn't carry the baggage that these other therapeutic options do, which is it doesn't cause sexual side effects, and it doesn't cause weight gain, and it doesn't cause anxiety. In a very large category, frankly, it's not hard to see how this could become, we think, a very, very important opportunity for us in the short, medium, and long run.
This is just what I've described in that EXXUA is the first and only 5-HT1A agonist indicated for MDD, again, selectively, both presynaptically as well as postsynaptically impacts the 5-HT1A, and that's what drives the efficacy. It's at the same time, because of its isolated impact on just the 1A, it's not causing these very problematic side effects of sexual dysfunction and weight gain. It is efficacious. It demonstrates efficacy in two pivotal studies. Of course, that's the requirement to get any drug approved in this category. It's demonstrated amongst thousands of patients, and specifically in these two phase III studies, that EXXUA does work. Significant improvement versus placebo, really as early as week three, so a fairly rapidly working antidepressant, working all the way through the full eight-week clinical study. Again, it's working without any of the problematic side effects.
Most notably, EXXUA does not carry a warning around the risk of causing sexual dysfunction, as is the case with every single SSRI approved by the FDA. It carries no significant increase in body weight when you compare the active EXXUA to placebo, a mean increase of 1 kg in one study and 0.3 kg in a second study, essentially negligible weight gain and not statistically nor clinically different from placebo. While there are some side effects, there is some dizziness and some nausea, very, very low rates of discontinuation due to the fact that these side effects are very mild to moderate and very, very transient. That's important to note. We've got a product with EXXUA that clearly has a clear position in the marketplace versus all the competitors in this very large category.
Based on what we're seeing here in the early innings, it's off and running to really, really great success. We continue to stack prescriptions month-over-month and week-over-week-over-week, have just come past our most recent all-time weekly high. Shipments are also increasing month-over-month to keep up with demand, which is, of course, increasing in real time. I'll just revisit real quickly our legacy brands, which on the left-hand side, I'll remind you, are ADHD brands. That's the bulk of our current revenue. We do expect that these mature products will drift in terms of their revenue over time, but they will be durable for the long term in such that these products, in no way do we foresee that they'll drop anywhere close to zero.
We think these products will continue to cash flow and provide a really nice support-based business as we launch and grow EXXUA. As you can see, relatively durable. While they are in some level of decline, particularly as it relates to ADHD, a very durable sort of trajectory here with respect to both Adzenys and Cotempla, which is the franchise that makes up the ADHD portfolio. Having just briefly covered EXXUA and the opportunity there, and the legacy business, which we think, again, will hang on for the long term to provide durable cash flow to support the growth of the business, most notably EXXUA, let me have Ryan lead us through the financials.
Thanks, Josh. Starting with the financials, what you're looking at here is really the core business today, the go-forward Rx segment. We've stripped out the consumer health and pipeline R&D from the past, so this is a cleaner view of our performance. On the net revenue side, this represents primarily the ADHD and pediatric portfolios, with approximately $2.4 million of EXXUA in fiscal 2026. We anticipate as the ADHD portfolio slightly declines due to the generic competition, the EXXUA net revenue will make up for the difference and some more over the course of the next 12 to 15 months as we continue to grow the business substantially. On the EBITDA side, the last few years, we've made significant progress reducing our expenses and improving the overall operational results of the business.
As we anticipated with the licensing of EXXUA, we have incurred launch costs throughout the year, which have resulted in a reduction of the EBITDA. We believe that these investments will prove beneficial in fiscal 2027 and fiscal 2028 as we hope to begin to cash flowing once again. Switching over to the balance sheet. Similar to the improvement over the previous few years on the income statement, we've also improved the balance sheet significantly. We've eliminated all of our high-interest debt, and thus are now saving approximately half a million dollars in quarterly interest expense. We ended March 31st, 2026, with about $26.7 million in cash and cash equivalents and are currently projecting that we won't need to raise capital to achieve profitability with EXXUA.
As a reminder, we raised $16 million through a capital raise in June 2025 in anticipation that this would cover our launch costs. From a liability side, we have a long-term debt facility of approximately $11.4 million, which we pay down the principal of approximately half a million dollars each quarter, as well as a revolving line of credit that provides availability typically of $12 million-$14 million. Neither have rigorous covenants. We have been compliant throughout their lives. Stepping back, we feel like we're in a solid position. We've got the liquidity that we need to keep executing. Moving on to the capitalization table. We currently have 10.7 million common shares outstanding. I will point your attention to the 8.8 million pre-funded warrants.
These exist due to shareholder ownership blockers, we typically reference our outstanding shares of 19.5 million, which combines the two, and 23.6 million fully diluted. We feel we have a strong shareholder base with Nantahala Capital owning 28.3% fully diluted and the presence on our board of directors, as well as Stonepine Capital owning 21% fully diluted. Both participated in our capital raises in June of 2023, as well as our EXXUA capital raise in June of 2026, and are healthcare focused with long-term view on the Aytu opportunity. Thank you very much for the opportunity to present Aytu. We are incredibly optimistic about EXXUA and the future of our operations and look forward to continuing to update you in the future. With that, I would like to turn it back over to Robert.
Fantastic, Josh, Ryan, thank you very much for your time here today. Thank you, everybody, of course, for watching. If there are any questions or perhaps you'd like to schedule a meeting with Josh or Ryan here, shoot me an email. That's Blum, B-L-U-M, @lythampartners.com. Again, always to learn more about Lytham, you can visit our website. Make sure to stay connected with us on LinkedIn as well to stay connected on future events, such as the discussion here with Aytu. Josh, Ryan, thanks so much for the time today. Hope you all enjoy the conference.