Aytu Bioscience Inc (NASDAQ: AYTU) made a key announcement today. The company provided an update with regard to sales of Natesto, and the update proved to be overwhelmingly positive. Here’s what we saw from the press release early this morning:
AYTU Updates Investors On Natesto Sales
As mentioned above, Aytu Bioscience offered investors a key update this morning. The company announced the sales volume surrounding Natesto. Through September 30, the end of the company’s fiscal first quarter, prescriptions of Natesto and factory sales significantly eclipsed the previous quarter’s all-time highs and are in line with the company’s projections. AYTU also reported significant quarter over quarter increases in the number of doctors that are prescribing Natesto. Here’s what we saw from the press release:
- Prescriptions – During the fiscal first quarter, Natesto prescriptions totaled out to 2,036. When comparing this figure to the 1,379 prescriptions sold in the previous quarter, we see a quarter over quarter increase in the amount of 48%.
- Prescribers – During the quarter, AYTU said that the number of prescribers that prescribed natesto during the quarter was 991. That’s an increase of 21% quarter over quarter.
- Factory Sales – During the quarter, Natesto factory sales came in at approximately $1.9 million. That figure represents quarter over quarter growth in the amount of 94%. Also, at this rate, if the company continues to see this growth, AYTU will be cash flow breakeven in the next 4 to 5 months.
In a statement, Josh Disbrow, CEO at Aytu Bioscience, had the following to offer:
“We continue to track in line with our internal projections and expectations, and remain very enthusiastic about the ongoing growth and uptake of Natesto. The growing Natesto prescription and prescriber numbers continue to demonstrate the very real need for a truly improved option for the millions of men in the U.S. with hypogonadism. Despite this significant early growth, we believe that this is still just the start of establishing Natesto as the preferred TRT product in the U.S. market.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AYTU. In particular, we’re interested in following the ongoing growth surrounding Natesto. We’re also interested in following the news surrounding Fiera considering the recent announcement of distribution in Japan. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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