Aytu Bioscience AYTU Stock News

Aytu BioScience Inc (NASDAQ: AYTU) is having a great start to the trading session after announcing that it has entered into a development agreement with Sterling Medical Devices. With the agreement in mind, volume is crazy high with price appreciation of more than 35% so far. So, what’s the deal? Here’s what’s happening:

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AYTU Stock Climbs On Sterling Medical Devices Agreement

In the release, Aytu BioScience said that it entered into a new agreement with Sterling Medical Devices. The agreement surrounds the finalization of the development of Healight.

Healight is a novel endotracheal catheter. Importantly, the development surrounds the use of this device as a possible tool in the treatment of COVID-19 patients.

Last week, AYTU announced that it had licensed the exclusive worldwide rights to the Healight technology from Cedars Sinai for endotracheal and nasopharyngeal indications. Importantly, pre-clinical findings suggest that Healight may be a safe and effective antiviral and antibacterial treatment. As a result, Sterling has stepped on the team to help explore this possibility.

In a statement, Josh Disbrow, Chairman and CEO at AYTU, had the following to offer:

The Aytu team is very pleased to be working with Sterling Medical on this important development program and in the fight against coronavirus. Sterling has a stellar reputation as a best-in-class medical device product firm with more than 21 years of experience, over 1,100 projects engineered, with none failing to receive FDA regulatory approval upon submission. Our team is actively engaged with our colleagues at Sterling in an effort to finalize the device development, with hope of enabling human use in the very near future.

Why This News Is So Exciting

Aytu BioScience is quickly positioning itself as a strong COVID-19 play. Let’s not forget, the company recently licensed a coronavirus rapid test that is now being pushed into commercialization. Now, the company has a potential treatment under development.

This is very exciting news. After all, COVID-19 has changed life as we know it. We no longer see big crowds gathering at events, schools remain closed, and while very few states are starting to reopen, these reopennings are riddled with social distancing requirements.

For the COVID-19 pandemic to end, we need testing, we need vaccines, and we need treatment options. AYTU seems to know this and has centered its efforts around bringing these types of products to market.

In terms of today’s announcement, one key sentance in Jash Disbrow’s statement really sits well:

Sterling has a stellar reputation as a best-in-class medical device product firm with more than 21 years of experience, over 1,100 projects engineered, with none failing to receive FDA regulatory approval upon submission.

Think about that, the company’s new partner has been part of 1,100 projects. Importantly, once submitted to the FDA, Stellar has a 100% approval rate. That’s hard to ignore, and that’s a great thing for AYTU investors!

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