Item 1.02 Termination of Material Definitive Agreement.

On June 23, 2026, Aytu BioPharma, Inc. (the "Company") and Lannett Company, Inc. (together with its affiliates, "Lannett") mutually agreed to terminate, effective as of June 23, 2026, that certain exclusive license agreement entered into by the parties on May 11, 2022, as amended on July 6, 2023, and July 17, 2025 (collectively, the "Metadate Agreement").

In connection with the termination of the Metadate Agreement, the Company entered into a Termination Agreement (the "Termination Agreement") with Lannett. Pursuant to the terms of the Termination Agreement, the Metadate Agreement is terminated in its entirety, except for certain provisions that survive the termination as specified in the Termination Agreement.

Pursuant to the terms of the Metadate Agreement, the Company may continue to sell and distribute existing inventory at its sole discretion and shall continue to provide certain royalty reports and pay certain royalties until such sales cease.

Net revenue of Metadate CD® reported by the Company for the Quarter Ended March 31, 2026 was $49,000.

The description of the Termination Agreement in this Current Report on Form 8-K does not purport to be complete and is qualified in its entirety by reference to the full text of the Termination Agreement, which will be filed as an exhibit to the Company's Annual Report on Form 10-K for the year ended June 30, 2026.