Aytu BioScience, Inc. (NASDAQ:AYTU) Q2 2019 Earnings Conference Call - Final Transcript

Feb 07, 2019 • 09:00 am ET


Aytu BioScience, Inc. (NASDAQ:AYTU) Q2 2019 Earnings Conference Call - Final Transcript


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Good afternoon, everyone. Thank you for joining us for the Aytu BioScience Second Quarter Fiscal 2019 Business Update Call. With me this afternoon are Aytu's Chief Executive Officer, Josh Disbrow; Chief Financial Officer, Dave Green; and Chief Operating Officer, Jarrett Disbrow. Aytu BioScience issued a press release earlier this morning with details of the Company's operational and financial results.

A copy of the press release is available on the news page of the Company's website at aytubio.com. I'd like to remind everyone that today's call is being recorded. A replay of today's call will be available by using the telephone numbers and replay access code provided in the earnings press release. In addition, an archived webcast replay will be available on the Company's Investor page, under Corporate Presentations and Media at aytubio.com, following the conclusion of this conference call.

Finally, I would also like to call your attention to the customary safe harbor disclosure regarding forward-looking information. The conference call today will contain certain forward-looking statements, including statements regarding the goals, strategies, beliefs, expectations, and future potential operating results of Aytu BioScience.

Although management believes these statements are reasonable based on estimates, assumptions and projections as of today, February 7, 2019, these statements are not guarantees of future performance. Time-sensitive information may no longer be accurate at the time of any telephonic or webcast replay.

Actual results may differ materially as a result of risks, uncertainties and other factors including, but not limited to, the factors set forth in the Company's filings with the SEC. Aytu undertakes no obligation to update or revise any of these forward-looking statements.

I'd now like to turn the call over to Aytu's CEO, Josh Disbrow.

Josh Disbrow

Thank you, Jen. Good morning, and thank you for joining today's call. I'll begin by touching on our financial results at a high level, recap our quarterly highlights, and then provide a deeper discussion around the performance of each product in our portfolio. After that, I'll turn it over to Dave to review the financials in greater detail and then, I'll conclude with some closing remarks and include an update on the Natesto Spermatogenesis Study. Following that, we'll open it up for Q&A.

Starting with the financial results, the quarter ending December 31, 2018 was our third consecutive quarter of significant revenue growth, following the strategic shift we implemented back in early calendar 2018. We posted all-time high revenue of $1.8 million, which represents 71% growth over the same quarter last year and 25% sequential growth for the quarter ending September 30. This strong sequential and year-over-year growth keeps the Company on a rapid growth trajectory as we continue to grow Natesto's scripts and revenue and integrate our two new products, ZolpiMist and Tuzistra XR into the commercial mix.

Moving into the quarterly highlights. This quarter was active and we achieved quite a lot. I thank our entire team for their hard work, great output and excellent operating results. Along with the strong revenue growth for Natesto, this quarter we