Aytu BioScience Inc. (NASDAQ: AYTU) has been one of the biggest winners in the fight against the novel coronavirus. Its shares have jumped as much as sixfold since it came on to the scene with its COVID-19 IgG IgM rapid tests.
Testing for the coronavirus has become a lucrative field. Some other companies specifically dealing with this aspect are Quest Diagnostics Inc. (NYSE: DGX), Co-Diagnostics Inc. (NASDAQ: CODX) and Becton, Dickinson and Co. (NYSE: BDX). Their stocks have seen solid gains since they entered the coronavirus test business as well.
While the Dow Jones industrial average, S&P 500 and Nasdaq have recovered (at least partially) from the initial onset of the coronavirus epidemic, Aytu Biosciences has left these averages in the dust. Aytu is stock up over 300% in this time. Note that shares were over $2 apiece at the height of speculation, compared to around $1.30 currently.
These gains, combined with recent developments, are positioning Aytu Biosciences well to deal with the coronavirus threat.
The Situation in Denver
Aytu Bio has produced 100,000 COVID-19 rapid tests, and there are 500,000 more on the way. Denver will be the first beneficiary of these tests, namely its first responders at the point of care.
In a recent press release, Aytu announced:
[Aytu BioSciences,] a specialty pharmaceutical company focused on commercializing novel products that address significant patient needs was featured on a FOX segment titled: “Denver officers, firefighters will be among first in US to get rapid COVID-19 tests,” reported on by affiliated television station in Denver, Colorado, KDVR; and on an NBC segment titled “Denver scores 2,700 COVID-19 rapid tests for first responders – Aytu Bioscience in Englewood has 100,000 tests ready to ship across the country with 500,000 more on the way,” reported on by affiliated television station in Denver, Colorado, 9News.
Separately, NBC and Fox News covered this and how first responders would be the first to receive these tests.
Be on the lookout for more from Aytu Bio when the company holds its annual shareholder meeting on April 23. The company originally moved this meeting back from March 31 due to the coronavirus crisis. Now, investors will be able to participate and vote at the virtual annual meeting.
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