ENGLEWOOD, Colo., Nov. 19, 2015 /PRNewswire/ -- Aytu BioScience, Inc. (OTCQB: AYTU), a commercial-stage specialty healthcare company focused on urological and related conditions, today announced that the Company will host a joint conference call with Ampio Pharmaceuticals (NYSEMKT: AMPE) to discuss the details of Ampio's previously announced intention to distribute most of its 11,626,068 shares of Aytu to Ampio's current shareholders. The non-dilutive share distribution constitutes greater than 70% of the current Aytu shares outstanding, which will increase stock liquidity substantially and further support Aytu as it operates as an independent public company.
Josh Disbrow, Chief Executive Officer of Aytu, stated, "We are grateful to Ampio for its continued support and its recent decision to dramatically enhance Aytu's capacity to achieve higher valuations by having a truly liquid stock. This action is particularly timely, as Aytu is positioned for substantial near-term growth through the commercialization of our first urology products. In addition to these products, we are looking to expand our commercial footprint in the urology market, by seeking additional complementary urology products that serve significant medical needs. We look forward to providing updates on this growth strategy and our commercial development to our newly expanded shareholder base."
In the nine months since the Company's inception, Aytu has acquired two revenue-generating urology products: ProstaScint, a biologic imaging agent used by urologists to detect the extent and spread of prostate cancer, and Primsol, a urological antibiotic. To support these products, the Company developed its commercial infrastructure by hiring management personnel and a urology-focused sales force. Aytu is focused on growing revenue for these products and seeking opportunities to acquire additional commercial-stage assets within urology and related areas. In parallel, the Company presented encouraging data demonstrating the clinical utility of MiOXSYS® for measuring oxidative stress levels in semen and is pursuing an FDA clearance pathway for this product as a marker for male infertility. The Company also has a therapeutic candidate, Zertane, for treating premature ejaculation, which recently received approval from the FDA to initiate Phase 3 studies.
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About Aytu BioScience, Inc.
Aytu BioScience, Inc. is a commercial-stage specialty healthcare company focused on urological and related conditions. The Company's products includes FDA-approved ProstaScint® (capromab pendetide), a radio-labeled monoclonal antibody that targets Prostate Specific Membrane Antigen (PSMA), a protein highly expressed by prostate cancer; as well as Primsol® (trimethoprim oral solution), the only FDA-approved oral solution of trimethoprim, the standard therapy for urinary tract infections. Aytu's strategy is to continue building its portfolio of revenue-generating urology products and late-stage development assets, leveraging its commercial team and expertise to further build those brands within well-established markets.
Forward Looking Statement
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 Exchange Act. All statements other than statements of historical facts contained in this presentation, including statements regarding our anticipated future clinical and regulatory events, future financial position, business strategy and plans and objectives of management for future operations, 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. Such forward-looking statements include, without limitation, statements regarding 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 collaborations. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including without limitation to the risks described in "Risk Factors" in Part I, Item 1A of Aytu BioScience, Inc. 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. These risks are not exhaustive. Other sections of Aytu BioScience, Inc. Annual Report on Form 10-K and such other filed reports and documents include additional factors that could adversely impact our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. We assume no obligation to update or supplement forward-looking statements.
SOURCE Aytu BioScience, Inc.