Geometry Dash APK Hill Climb Racing APK
36.8 F
New York
Friday, December 9, 2022

Aytu Bioscience Inc (NASDAQ:AYTU) Gains Momentum On Coronavirus Buzz

Must read

Net Savings Link Inc (OTCMKTS:NSAV) Goes Parabolic Ahead of Important Event

As far as cryptocurrency and blockchain companies are concerned, there are many options nowadays for investors to explore.

American Diversified Holdings Corp (OTCMKTS:ADHC) Nears Critical Level

When a stock records significant gains and then crashes and repeats over the course of a few months, then it might be...

Reconnaissance Energy Africa Ltd (OTCMKTS:RECAF) Gathers Further Momentum

If you are currently looking for stocks that may have recorded massive gains within a short period of time, then it might...

Humbl Inc (OTCMKTS:TSNPD) Bounces Back and Lands On The Radar

Over the course of the past months, Humbl Inc (OTCMKTS:TSNPD) stock has managed to record massive gains and much of that has...

The coronavirus epidemic has emerged as one of the biggest health scares in recent years. However, it has also resulted in remarkable rallies in the stocks of companies that are involved in creating a vaccine or medicine for the virus. The latest stock to enjoy such a rally is that of Aytu Bioscience Inc (NASDAQ:AYTU).

Licensing Deal

The company announced on Tuesday that it had signed a licensing deal regarding coronavirus and that resulted in a major rally in the stock as it climbed by as much as 300%. It is likely that the stock is going to continue to be in focus today as well.

The company announced that it had signed an exclusive distribution agreement by way of which Aytu is going to get the right to commercialize the COVID-19 IgG/IgM Rapid Test. The test in question is clinically validated, and hence, it is a significant development for Aytu.

The company announced that it licensed the test from L.B. Resources. It should be noted that L.B. Resources had got the right for the test in North America from developer Zhejiang Orient Gene Biotech. The company announced that the agreement gives it the exclusive rights to sell the product for three years in the United States.

The Chief Executive Officer of the company, Josh Disbrow, spoke about the development as well. He said, “We are excited to be able to work with U.S. regulatory authorities, and we will work to make this important test available in the U.S. as soon as possible.” Aytu also stated that the Rapid Test is only meant to be conducted by professionals.

The company went on to add that the test is a critical time-saving procedure and produces the results from the test in two to ten minutes. The rally in the stock was a remarkable one, and it now remains to be seen if the Aytu stock can continue to rally today. Sign-up for continuing coverage on shares of $AYTU stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $AYTU, either long or short, and we have not been compensated for this article.

Latest article

Alibaba Group Holding Limited (OTCMKTS:BABAF) Big Volume with Possible 60% Upside

Alibaba Group Holding Limited (OTCMKTS:  BABAF) is an over the counter stock traded on the OTC Pink markets in the Consumer Discretionary...

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet. Affordable best sms verification service