UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of
Report (Date of earliest event reported): April
2, 2020
AYTU BIOSCIENCE, INC.
(Exact
name of registrant as specified in its charter)
Delaware
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001-38247
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47-0883144
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(State
or other jurisdictionof incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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373 Inverness Parkway, Suite 206
Englewood, CO 80112
(Address
of principal executive offices, including Zip Code)
Registrant’s
telephone number, including area code: (720) 437-6580
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐
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Written
communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common
Stock, par value $0.0001 per share
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AYTU
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The
NASDAQ Stock Market LLC
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Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (§240.12b-2 of this chapter).
Emerging growth
company ☐
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events
On
April 3, 2020, Aytu BioScience, Inc. (the “Company”) a
specialty pharmaceutical company focused on commercializing novel
products that address significant patient needs announced today
that it began shipping its Coronavirus Disease 2019
(“COVID-2019”) IgG/IgM Rapid Test to U.S. customers.
Upon receipt of the initial 100,000 tests, the company completed
product relabeling to ensure compliance with FDA guidance on
COVID-19 serology test kits.
The
Company has received orders for the COVID-19 IgG/IgM Rapid Test
from a broad range of healthcare customers including large medical
centers, municipalities, first responders, medical practices, and
other healthcare customers. The Company expects to have all
customer backorders filled in the coming days.
Forward-Looking Statements
This current report on Form 8-K 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: market and other conditions,
the regulatory and commercial risks associated with introducing the
COVID-19 IgG/IgM Rapid Test, shipping delays and their impact on
our ability to introduce the COVID-19 IgG/IgM Rapid Test, our
ability to enforce our exclusive rights to distribute the COVID-19
IgG/IgM Rapid Test in the jurisdictions set forth in the
distribution agreement, the ability of the COVID-19 IgG/IgM Rapid
Test to accurately and reliably test for COVID-19, the manufacture
of the COVID-19 IgG/IgM Rapid Test’s ability to manufacture
such testing kits on a high volume scale, manufacturing problems or
delays related to the COVID-19 IgG/IgM Rapid Test, our ability to
satisfy any labelling conditions or other FDA or other regulatory
conditions to sell the COVID-19 IgG/IgM Rapid Test Kit, the ability
to obtain a sufficient number of COVID-19 IgG/IgM Rapid Test kits
to meet demand if any, the demand or lack thereof for the COVID-19
IgG/IgM Rapid Test Kit, effects of the business combination of Aytu
and the Commercial Portfolio and the recently completed merger
("Merger") with Innovus Pharmaceuticals, including the combined
company's future financial condition, results of operations,
strategy and plans, the ability of the combined company to realize
anticipated synergies in the timeframe expected or at all, changes
in capital markets and the ability of the combined company to
finance operations in the manner expected, the diversion of
management time on Merger-related issues and integration of the
Commercial Portfolio, the ultimate timing, outcome and results of
integrating the operations the Commercial Portfolio and Innovus
with Aytu's existing operations, risks relating to gaining market
acceptance of our products, obtaining or maintaining reimbursement
by third-party payors for our prescription products, the potential
future commercialization of our product candidates, the anticipated
start dates, durations and completion dates, as well as the
potential future results, of our ongoing and future clinical
trials, 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 collaboration. We also refer you to
the risks described in ''Risk Factors'' in Part I, Item 1A of the
company's Annual Report on Form 10-K and in the other reports and
documents we file with the Securities and Exchange Commission from
time to time.
Item
9.01 Financial Statements and Exhibits.
(d) The following
exhibit is being filed herewith:
Exhibit
Description
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Press
release announcement dated April 3, 2020
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SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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AYTU BIOSCIENCE, INC.
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Date:
April 3, 2020
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By:
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/s/
Joshua R. Disbrow
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Joshua
R. Disbrow
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Chief
Executive Officer
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Exhibit 99.1
Aytu BioScience Announces First Commercial Shipment of its 2-10
Minute COVID-19 IgG/IgM Point-of-Care Rapid Test
First COVID-19 Rapid Tests Delivered to Denver First
Responders
ENGLEWOOD,
CO / ACCESSWIRE / April 3, 2020 / Aytu BioScience, Inc. (NASDAQ:
AYTU), (the “Company”), a specialty pharmaceutical
company focused on commercializing novel products that address
significant patient needs
announced today that it began shipping its
Coronavirus Disease 2019 (“COVID-2019”) IgG/IgM Rapid
Test to U.S. customers. Upon receipt of the initial 100,000 tests,
the company completed product relabeling to ensure compliance with
FDA guidance on COVID-19 serology test kits.
The
Company has received orders for the COVID-19 IgG/IgM Rapid Test
from a broad range of healthcare customers including large medical
centers, municipalities, first responders, medical practices, and
other healthcare customers. The Company expects to have all
customer backorders filled in the coming days.
The
Company’s first 2,750 COVID-19 Rapid Tests have been
purchased by the Denver Police Department for use in screening
Denver’s first responders. The test kits were delivered to
Denver Chief of Police Paul Pazen and members of his leadership
team at Aytu BioScience’s corporate headquarters on April 2,
2020.
Josh
Disbrow, Chief Executive Officer of Aytu BioScience, commented,
“Upon receipt of our initial product shipment on March
31st, we
immediately went to work to prepare the test kits for commercial
distribution. The Aytu team has worked very hard over the last two
days to relabel all 100,000 tests, and we’re now shipping
product to our customers across the country. Importantly, we are
proud to be assisting our first responders here at home as we
delivered over 2,000 tests to Denver Police Chief Pazen and his
team. Our public safety personnel are doing outstanding work in our
communities throughout this crisis, so we’re glad to be
partnering with Denver’s first responders in this
fight.”
Mr.
Disbrow continued, “The demand for the COVID-19 IgG/IgM Rapid
Test has been substantial, so we have increased our order size to
500,000 tests (20,000 kits) to provide a larger supply to
healthcare professionals and first responders in
need.”
The
COVID-19 IgG/IgM Rapid Test is a serology test 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.
This point-of-care test has been validated in a 126 patient
clinical trial in China and is CE marked.
The
Company believes that serology tests are a potentially powerful
tool for identifying anyone who has been infected, whether they had
symptoms or not. Antibodies to coronaviruses typically remain in
humans for up to 90 days or more. The Company believes that
serological testing is important in identifying the total number of
people who have been infected with COVID-19. This type of testing
could be particularly important for the immune surveillance of
health care workers, first responders, government workers, and
others whose infection risks could be heightened by working with
COVID-19 infected individuals.
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 recently
acquired exclusive U.S. distribution rights to the COVID-19 IgG/IgM
Rapid Test. This coronavirus 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. This
point-of-care test has been validated in a 113 patient clinical
trial and has received CE marking.
Aytu
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
platform.
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 and visit
innovuspharma.com to learn about the company's consumer healthcare
products.
Contact for Media and Investors:
James
Carbonara
Hayden
IR
(646)
755-7412
james@haydenir.com
Contact for COVID-19 IgG/IgM Rapid Test-Related
Inquiries:
COVID-19@aytubio.com