Full Press Release Details
Aytu BioScience Announces Fiscal Q1 2021 Net Revenue of $13.5
Million, an Increase of 839% Year-Over-Year
Q1 Consumer Health revenue reaches an all-time high of $7.8
Live Conference Call and Webcast
ENGLEWOOD, CO / ACCESSWIRE / November 12, 2020
/ Aytu BioScience, Inc.
(NASDAQ: AYTU), a specialty pharmaceutical company (the "Company")
focused on commercializing novel products that address significant
patient needs today reported financial results for its fiscal first
quarter 2021, for the three month period ending September 30,
First Quarter Fiscal 2021 Financial Highlights
Net Revenue increased 839% year-over-year to $13.5
Q1 Consumer Health Net Revenue was an all-time
high of $7.8 million, compared to $6.9 million in Q4
Rx Net Revenue was $5.8 million, compared to $1.4 million in Q1
Net loss of $4.3 million and Q1 adjusted EBITDA loss of $1.3
cash equivalents and restricted cash of $38.2 million on September
Commenting on the first quarter of fiscal 2021,
Josh Disbrow, Chief Executive Officer of Aytu BioScience, stated
"Net revenue increased substantially in Q1 2021, to $13.5 million,
compared to $1.4 million for Q1 2020. It is critical to highlight
that this was just the second full quarter of revenue contribution
from the combined Aytu and Innovus businesses, along with the
Cerecor assets. Turning to the bottom line, adjusted EBITDA loss
was reduced to just $1.3 million for Q1 2021, compared to a $3.6
million adjusted EBITDA loss for Q1 2020. On the balance sheet,
with approximately $38.2 million in cash and less than $1 million
of debt, and at current spending levels, we believe we have
adequate resources to achieve profitability."
Mr. Disbrow continued,
"Taking a closer look at the top line, on the Consumer Health side,
we generated $7.8 million in net revenue, an all-time high and an
increase compared to Q4 2020. Contributing to those results was a
strengthened e-commerce business and the launch of
OmepraCare , an over-the-counter proton pump inhibitor for
acid reflux, and Q4 2020 launch of Regoxidine , an
over-the-counter foam formulation of minoxidil for hair loss. On
the Rx side, net revenue was $5.8 million, also an increase
compared to Q1 2020. Contributing to Rx revenue was a relatively
balanced contribution across the prescription portfolio inclusive
of COVID-19 test kits. Additionally, our commercial partner Acerus
Pharmaceuticals launched their dedicated specialty sales team to
promote Natesto to urologists and endocrinologists across the
United States, ZolpiMist was approved by the Therapeutic
Goods Administration (TGA) in Australia, and pilot scale
Healight investigational devices, were manufactured and
delivered to enable the initiation of the first COVID-19 clinical
study. Importantly, with respect to the Healight clinical
study, patient enrollment and treatment with the Healight
investigational devices is now underway."
concluded, "At $13.5 million of net revenue with record Consumer
Health quarterly revenue, a narrowed adjusted EBITDA loss of just
$1.3 million, and $38.2 million of cash, cash equivalents and
restricted cash on the balance sheet, we have strong momentum to
maximize shareholder value moving ahead in our fiscal 2021 and
There was no revenue associated with Aytu Consumer Health in Q1
2020 for the three months ended September 30, 2019, as Aytu
Consumer Health was formed from the Aytu BioScience, Inc. merger
with Innovus Pharmaceuticals, Inc. on February 14,
Conference Call Information
The company will host a live conference call at 4:30 p.m. ET today.
The conference call can be accessed by dialing either:
888-506-0062 (toll-free) Participant Entry Code -
973-528-0011 (international) Participant Entry Code -
The webcast will be accessible live and archived at the following
link https://www.webcaster4.com/Webcast/Page/2142/38489 and on Aytu
BioScience's website, within the Investors section under Events
& Presentations, at aytubio.com, for 90 days.
A replay of the call will be available for fourteen days. Access
the replay by calling 1-877-481-4010 (toll-free) or 919-882-2331
(international) and using the replay access code
About Aytu BioScience, Inc.
Aytu BioScience is a commercial-stage specialty pharmaceutical
company focused on commercializing novel products that address
significant patient needs. The company currently markets a
portfolio of prescription products addressing large primary care
and pediatric markets. The primary care portfolio includes (i)
Natesto , the only FDA-approved nasal formulation of
testosterone for men with hypogonadism (low testosterone, or "Low
T"), (ii) ZolpiMist , the only FDA-approved oral spray
prescription sleep aid, and (iii) Tuzistra XR, the only
FDA-approved 12-hour codeine-based antitussive syrup. The recently
acquired Pediatric Portfolio includes (i) Cefaclor, a
second-generation cephalosporin antibiotic suspension; (ii)
Karbinal ER, an extended-release carbinoxamine
(antihistamine) suspension indicated to treat numerous allergic
conditions; and (iii) Poly-Vi-Flor and Tri-Vi-Flor , two
complementary prescription fluoride-based supplement product lines
containing combinations of fluoride and vitamins in various for
infants and children with fluoride deficiency. Aytu also
distributes a COVID-19 IgG/IgM rapid test. This antibody test is a
solid phase immunochromatographic assay used in the rapid,
qualitative and differential detection of IgG and IgM antibodies to
the 2019 Novel Coronavirus in human whole blood, serum or plasma.
Aytu has also licensed the Healight Platform Technology.
Healight is a pre-clinical investigational device being studied as
a potential treatment for COVID-19 in severely ill, intubated
patients and potentially other respiratory illnesses.
Aytu also operates a consumer health subsidiary, Innovus
Pharmaceuticals, Inc. ("Innovus"), a specialty pharmaceutical