Full Press Release Details
Aytu BioScience Announces Results from Annual Stockholders
Company's Board of Directors Elects Not to Effect a Reverse
ENGLEWOOD, CO / ACCESSWIRE / April 24, 2020 / Aytu
BioScience, Inc. (NASDAQ: AYTU) (the Company ),
a specialty pharmaceutical company
focused on commercializing novel
products that address significant patient needs, is pleased to report the results of the
Company's 2020 Annual Meeting.
yesterday elected Joshua Disbrow, Steven Boyd, Gary Cantrell, Carl
Dockery, John Donofrio, Jr, Michael Macaluso, and Ketan Mehta to
the Company's Board of Directors for one-year
approved an advisory vote on executive compensation, ratified the
appointment of Plante & Moran, PLLC as the Company's
independent auditor for 2020, and approved the Company's
Board of Directors to authorize a reverse split of the
Company's common stock.
Board of Directors has elected not to effect a reverse stock split
at this time. This decision is due to the fact that the Company has
regained compliance with Nasdaq Rule 4310(c)(8)(E) requiring a
$1.00 closing bid price for the Company's common stock.
Further it is the board's belief that effecting a reverse
split would not be in the best interest of the Company's
shareholders at this time.
final voting results on all agenda items are available in a Form
8-K that has been filed with the Securities and Exchange
Commission. All Company financial filings can be found on the
Company's website aytubio.com under the Investors section
About Aytu BioScience, Inc.
BioScience, Inc. 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 pediatric
portfolio includes (i) AcipHex Sprinkle , a granule
formulation of rabeprazole sodium, a commonly prescribed proton
pump inhibitor; (ii) Cefaclor, a second-generation cephalosporin
antibiotic suspension; (iii) Karbinal ER, an extended-release
carbinoxamine (antihistamine) suspension indicated to treat
numerous allergic conditions; and (iv) 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 recently acquired U.S. distribution rights to two
COVID-19 IgG/IgM rapid tests. These coronavirus tests are solid
phase immunochromatographic assays used in the rapid, qualitative
and differential detection of IgG and IgM antibodies to the 2019
Novel Coronavirus in human whole blood, serum or
recently acquired Innovus Pharmaceuticals, a specialty
pharmaceutical company commercializing, licensing and developing
safe and effective consumer healthcare products designed to improve
men's and women's health and vitality. Innovus commercializes over
thirty-five consumer health products competing in large healthcare
categories including diabetes, men's health, sexual wellness and
respiratory health. The Innovus product portfolio is commercialized
through direct-to-consumer marketing channels utilizing the
Company's proprietary Beyond Human marketing and sales
strategy is to continue building its portfolio of
revenue-generating products, leveraging its focused commercial team
and expertise to build leading brands within large therapeutic
markets. For more information visit aytubio.com and visit
innovuspharma.com to learn about the Company's consumer healthcare
Forward-Looking Statement
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 presentation, 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: our ability maintain a share
price of $1.00 or higher and not effect a reverse stock split in
the future, to successfully commercialize Healight Platform
Technology, our ability to obtain FDA approval for the Healight
Platform Technology, the effectiveness of the Healight Platform
Technology in treating patients with COVID-19 or other illnesses,
our ability to adequately protect the intellectual property
associated with the Healight Platform Technology, regulatory
delays, the reliability of the Healight Platform Technology in
killing viruses and bacteria, market acceptance of UV based medical
devices, risks associated with the our COVID-19 rapid tests
including our ability to enforce the exclusivity provisions of the
distribution agreements, the reliability of serological testing in
detecting COVID-19, shipping delays and their impact on our ability
to introduce the COVID-19 rapid tests, the ability of the COVID-19
rapid tests to accurately and reliably test for COVID-19, the
manufacturers of the COVID-19 rapid tests' ability to
manufacture such testing kits on a high volume scale, manufacturing
problems or delays related to the COVID-19 Rapid Test, our ability