Full Press Release Details
Aytu Reports Q2 Revenue of $3.2M, Up 77% Year-over-Year and 121%
ENGLEWOOD, CO / ACCESSWIRE / February 13, 2020 / Aytu
BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company
focused on commercializing of novel products that address
significant medical needs, today will provide an overview of its
business, including the company's operational and financial results
for its fiscal second quarter 2020 that ended December 31, 2019.
The company will host a live conference call and webcast today at
4:30 p.m. ET. Conference call details are provided at the end of
2020 Second Quarter Financial and Corporate Highlights
revenue of $3.2 million for the three months ended December 31,
2019, an increase of 77% compared to the three months ended
December 31, 2018, and an increase of 121% compared to the three
months ended September 30, 2019; quarterly revenue results only
represent partial contribution from the acquisition of the Cerecor
assets closed on November 1, 2019;
loss of $0.2 million for the three months ended December 31, 2019,
a reduction of 95% compared to the three months ended December 31,
2018, and a reduction of 96% compared to the three months ended
September 30, 2019; quarterly net income/(loss) results only
represent partial contribution from the acquisition of the Cerecor
assets closed on November 1, 2019;
health-care focused investment bank to secure near-term
non-dilutive financing;
positive clinical results from Natesto spermatogenesis study,
the first such study to demonstrate conclusively that a
testosterone replacement therapy (TRT) maintains key fertility
parameters in hypogonadal men;
on a $12.4 million prescription product portfolio purchase from
Matthew Phillips as Executive Vice President of Commercial
Operations. Mr. Phillips was Chief Commercial Officer at Cerecor
and responsible for leading the growth of the prescription product
portfolio that Aytu acquired, as well as at its predecessor company
Zylera Pharmaceuticals;
$10 million (approximately $9.3 million after fees and expenses)
through a private placement with healthcare institutional investors
Armistice Capital and Altium Capital in October
Natesto co-promote with Acerus Pharmaceuticals to expand
promotional coverage and drive revenue growth and eliminated
certain royalty and contingent consideration obligations, resulting
in a $5.2 million unrealized gain;
ZolpiMist co-promote with Validus Pharmaceuticals to expand
promotion into the psychiatry market;
and Tuzistra added to two national PBM formularies representing
over 36 million U.S. lives;
the quarter with cash, cash equivalents and restricted cash of $5.5
million, which does not include cash owed by Cerecor for
receivables from post-acquisition sales of Commercial Portfolio
products and a financing commitment from an institutional
Commenting on the second quarter of 2020, Josh Disbrow, Chief
Executive Officer of Aytu BioScience, stated, "Revenue for the
three months ended December 31, 2019 was $3.2 million, which
represents 121% growth over the three months ended September 30,
2019. Considering that the Cerecor Rx portfolio purchase
didn't close until November, with the start of the
integration beginning after that, this is a strong revenue number
that we expect to grow with the product portfolio now integrated.
We are not yet to realizing the full benefit of the acquisition, so
we look forward to our continued growth as we complete
cross-training and maximize the multiple opportunities to gain
synergy through our expanded Rx product
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:
1- 844-602-0380 (toll-free)
1- 862-298-0970 (international)
The webcast will be accessible live and archived 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) and using the
replay access code 57940.
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 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's 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.
Forward-Looking Statements
This 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