Business
Aytu Reports Q2 Revenue of $3.2M, Up 77% Year-over-Year and 121% Sequentially
ENGLEWOOD, CO / ACCESSWIRE / February 13, 2020 / Aytu BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company focused on commercializing novel
About this update from Aytu Biopharma, Inc.
[{"type":"text","content":"ENGLEWOOD, CO / ACCESSWIRE / February 13, 2020 / Aytu BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company focused on commercializing 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 this press release.2020 Second Quarter Financial and Corporate HighlightsReports 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;Net 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;Engaged health-care focused investment bank to secure near-term non-dilutive financing;Announced 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;Closed on a $12.4 million prescription product portfolio purchase from Cerecor;Hired 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;Raised $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 2019;Launched Natesto co-promote with Acerus Pharmaceuticals to expand promotional coverage and drive revenue growth and eliminated certain royalty and contingent consideration obligations, resulting ...