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AYTU BioScience Provides Fiscal Third Quarter 2018 And Positive Blowout Guidance

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AYTU BioScience Provides Fiscal Third Quarter 2018 And Positive Blowout Guidance – CWEB.com

Q3 2018 Operational Highlights

  • Grew Natesto® paid prescriptions to 2,300 in the quarter ending March 31, 2018, bringing total year-to-date paid prescriptions to 5,168, 219% growth over the same period last year
  • Launched the Natesto Support Program (NYSE:NSP) and announced that through just the first nine weeks of implementation:
  • 63% of all enrolled patients who have been previously treated with a topical testosterone replacement therapy have been approved for Natesto treatment by payors through the NSP
  • 70% of patients who have had their prescription claim adjudicated at one specific large national payor have been approved for Natesto treatment
  • Overall and across all enrolled patients, coverage for Natesto through the NSP has improved by approximately 21% at this early stage of implementation
  • Presented new research findings for Natesto at the Endocrine Society’s 100th Annual Meeting
  • Received market registration for the MiOXSYS® system for male infertility in Mexico
  • Completed an underwritten public offering for total gross proceeds of $12.9 million

Josh Disbrow, Chief Executive Officer of Aytu BioScience commented, “During the quarter, we made solid progress toward our stated goals of increasing Natesto paid prescriptions, increasing product revenues to reflect lower discounting and patient couponing levels, and continuing to build clinical support that differentiates Natesto from other marketed testosterone replacement therapies. First, we launched the Natesto Support Program to capture more prescription reimbursement. In the first nine weeks since the launch of this program, 63% of all enrolled patients, who have been previously treated with a topical testosterone replacement therapy, have been approved for Natesto treatment by payors through the program. Second, we began actively pursuing third-party payors to more broadly cover Natesto. During the quarter we have formally proposed contract terms with multiple payors and have received a favorable, initial response from one particularly large national plan. Third, we continued to invest in increasing the body of clinical evidence supporting Natesto’s distinct efficacy and safety profile. We initiated a clinical study, at the University of Miami, studying Natesto’s effect on spermatogenesis in hypogonadal men, for which we expect completion in the second half of fiscal 2019. Finally, the company presented new research findings at the Endocrine Society’s 100th annual meeting, illustrating additional safety benefits of Natesto.”

Mr. Disbrow added, “As a result of the early progress with the Natesto Support Program, we are realizing a significantly higher percentage of revenue-generating prescriptions. Although, a step-change in the revenue line was expected to occur as a result of the significant voucher and coupon utilization that concluded in Q3, upon the discontinuation of vouchers and zero-revenue prescriptions on April 1, 2018, the early results demonstrate that the company’s combined strategy is working and is yielding the positive results we anticipated. Already in April, we have seen a significant increase in Natesto revenue over January, February, and March, and we anticipate continued growth as we progress into this next phase of the Natesto launch.”

Q3 2018 Financial Results

Cash and cash equivalents totaled approximately $12.1M as of March 31, 2018.

Revenue for the third quarter of 2018 was $607,000, which reflects the resetting of patient insurance deductibles in January, along with significant Natesto prescription discounting and vouchering that ended on March 31, 2018.

Sales, general, and administrative expenses for the quarter were $4,637,000, which is in line with the same period last year.

 

The statistic shows the revenue of Pfizer’s (PFE) top product Viagra from 2003 to 2017. Pfizer Inc. is a multinational pharmaceutical corporation. The company is headquartered in Midtown Manhattan, New York City. In 2008, Pfizer’s Viagra generated some 1.93 billion U.S. dollars of revenue. Viagra is used primarily to treat erectile dysfunction and pulmonary arterial hypertension. Viagra’s patent protection in the U.S. was prolonged until April 2020.

Last year, Pfizer’s (PFEViagra had worldwide sales of $1.7 billion.

Eli Lilly & Co (LLYCialis is also a product for Erectile Dysfunction and has sold Estimated 2016U.S. sales: $1.469 billion U.S

Bayer AG (OTCPK:BAYRY) and Glaxo Smith Kline (GSK) both have marketed Levitra which also has estimated revenue of Billions of dollars.

Considering that Aytu Bioscience Inc (OTCQX:AYTU) is the cheapest in the market for Erectile Dysfunction Products and has 2 FDA approved medicine and more approvals in the pipeline we believe it could be a potential takeover buy one of the Big Pharma Companies mentioned above.

So the bottom line is that Aytu Bioscience (OTCQX:AYTU) is trading at it lowest levels with already approved medicine by the FDA versus it’s competitors that got rejected by the FDA recently Lipocine’s (LPCN) and Clarus (OTC:CLAR).

CWEB Analyst’s have initiated a Buy Rating for Aytu BioScience, Inc. (OTCQX:AYTU), and a Price Target of $10 within 12 months.

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