Full Press Release Details
Announces Closing of Public Offering
Englewood, CO - May 6, 2016
- Aytu BioScience, Inc. (OTCQX: AYTU), a specialty pharmaceutical company focused on commercializing novel products in
the field of urology, today announced the closing of its previously announced underwritten public offering of 18,750,000 shares
of its common stock and warrants to purchase up to an aggregate of 20,799,250 shares of its common stock at a combined public offering
price of $0.40 per share and related warrant, including 2,049,250 warrants sold pursuant to the partial exercise of the underwriters'
over-allotment option at a per warrant purchase price of $0.01.
Joseph Gunnar & Co., LLC acted
as sole book-running manager for the offering and Fordham Financial Management, Inc. acted as lead manager for the offering.
The company intends to use the net
proceeds from the offering to fund the expansion of its commercial infrastructure for the planned launch of Natesto and the
planned expansion in the commercialization of ProstaScint and Primsol , to purchase complementary urology products and/or
product candidates that will enhance its product portfolio and enable expansion of its commercial operations, fund the remaining
clinical development activities for MiOXSYS , to enable FDA clearance and working capital for general corporate and administrative
were sold pursuant to an effective registration statement on Form S-1 (File No. 333-210144), as amended, previously filed with
the Securities and Exchange Commission (SEC). The final prospectus related to the offering was filed with the SEC on May 4, 2016.
Copies of the final prospectus are on the SEC's website located at http://www.sec.gov and may also be obtained from
Joseph Gunnar & Co., LLC, Prospectus Department, 30 Broad Street, 11th Floor, New York, NY 10004, telephone 212-440-9600,
email: prospectus@jgunnar.com.
This press release shall not constitute
an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws
of any such state or jurisdiction.
About Aytu BioScience, Inc.
Aytu BioScience is a commercial-stage specialty pharmaceutical
company focused on global commercialization of novel products in the field of urology. The company currently markets two products:
ProstaScint (capromab pendetide), the only FDA-approved imaging agent specific to prostate cancer, and Primsol
(trimethoprim hydrochloride), the only FDA-approved trimethoprim-only oral solution for urinary tract infections. Aytu recently
acquired exclusive U.S. rights to Natesto , the first and only FDA-approved nasal formulation of testosterone for
men with hypogonadism (low testosterone, or "Low T"), which the company plans to launch in July 2016. Additionally,
Aytu is developing MiOXSYS , a novel, rapid semen analysis system with the potential to become a standard of care for the
diagnosis and management of male infertility caused by oxidative stress. MiOXSYS is commercialized outside the U.S. where it is
a CE Marked, Health Canada cleared product, and Aytu is conducting U.S.-based clinical trials in pursuit of 510k de novo
medical device clearance by the FDA. Aytu's strategy is to continue building its portfolio of revenue-generating urology
products, leveraging its focused commercial team and expertise to build leading brands within well-established markets.
Tiberend Strategic Advisors, Inc.
Joshua Drumm, Ph.D.: jdrumm@tiberend.com; (212) 375-2664
Janine McCargo: jmccargo@tiberend.com; (646) 604-5150
press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. All statements other than statements of historical
facts contained in this press release, including statements regarding our anticipated future clinical and regulatory events, future
financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements.
Forward looking statements are generally written in the future tense and/or are preceded by words such as "may," "will,"
"should," "forecast," "could," "expect," "suggest," "believe," "estimate,"
"continue," "anticipate," "intend," "plan," or similar words, or the negatives of such
terms or other variations on such terms or comparable terminology. These statements are just predictions and are subject to risks
and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include, among
others: risks relating to our planned use of proceeds from the offering; our plans for product growth, expansion and acquisition;
the anticipated start dates, durations and completion dates, as well as the potential future results, of our ongoing and future
clinical trials; risks relating to gaining market acceptance of our products; obtaining reimbursement by third-party payors; the
potential future commercialization of our product candidates; the anticipated designs of our future clinical trials; anticipated
future regulatory submissions and events; our anticipated future cash position; and future events under our current and potential
future collaborations. We also refer you to the risks described in "Risk Factors" in Part I, Item 1A of Aytu BioScience,
Inc.'s Annual Report on Form 10-K and in the other reports and documents we file with the Securities and Exchange Commission from