Aytu BioScience, Inc. (NASDAQ:AYTU) Q1 2020 Earnings Conference Call - Final Transcript

Nov 14, 2019 • 04:30 pm ET


Aytu BioScience, Inc. (NASDAQ:AYTU) Q1 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good afternoon, everyone, and thank you for joining us for the Aytu BioScience First Quarter Fiscal 2020 Business Update Call. With me this afternoon are Aytu's Chairman and Chief Executive Officer, Josh Disbrow and Chief Financial Officer, Dave Green. Aytu Bioscience issued a press release this afternoon 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 conference ID provided in the earnings press release. In addition, a webcast will be accessible live and archived on Aytu BioScience's website within the Investors section under Events and Presentations at aytubio.com.

Finally, I'd 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, November 14, 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.

Joshua Disbrow

Thank you, Jess. Good afternoon. Thanks for joining us for today's Q1 fiscal 2020 business update call. Q1 was a very productive quarter for the company, during which we continued the transformation of Aytu BioScience. The actions we took this quarter served to set the new Aytu BioScience up for the future and position us for where we believe the Company is headed after a transformational three-month period. This call will help to more fully describe the new go-forward Aytu and frame where we believe we can go following the multiple transactions we've recently announced. From the end of June to the end of September and into October, we've conducted multiple transactions leading to significant growth of the Company.

This transformative growth has been accomplished through one planned acquisition and another closed acquisition. The launch of three co-promotions, one for each of our three heritage Rx products, the readout of Natesto clinical data and the addition of Natesto to two major payer formularies. Further, there were several corporate highlights during the quarter, including the addition of Aytu to the Russell Microcap Index at the start of the quarter and the closing of a private placement with two health care institutions that came just after quarter end. It has been a productive three months to say the very least.

It was also a solid quarter from a performance perspective and