Aytu Bio (AYTU) has a bright future ahead
AYTU has been one of the hottest coronavirus stocks on the market. Valued at just $0.70 in February, the company reached an incredible $2.99 per share and has seen healthy consolidation. That being said, it is back on the move. Recently the company has raised $20 million and expanded its distribution right to commercialize a clinically validated coronavirus IgG/IgM rapid test. The company now has the right to distribute and commercialize the test in North America. This includes the U.S., Canada, and Mexico. As of now, the company is mainly focused on testing. “The testing capacity remains extraordinarily limited compared to where we should be. And in many ways we are absolutely flying blind at the moment,” said Michael Mina, an epidemiologist at the Harvard T.H. Chan School of Public Health. With many companies receiving FDA emergency use authorization for a point-of-care test, Aytu should be a stock to watch as the company expects delivery of its first shipment of 100,000 tests this week.