- Aytu BioPharma ( NASDAQ: AYTU ) stock dipped ~5% on Oct. 13 after the company said it was indefinitely suspending certain clinical development programs, thus expecting to save over $20M.
- The suspension includes AR101/enzastaurin for treat Vascular Ehlers-Danlos Syndrome (VEDS), Healight, and NT0502.
- Aytu is expecting to generate positive quarterly adjusted EBITDA in H1 calendar year 2023.
- "This strategic realignment enables us to dedicate our resources to growing our prescription and consumer health segments. Coupled with the suspension of clinical development activities and continued execution against our previously planned $15 million cost cutting program, this shift enables the Company to achieve near-term positive Adjusted EBITDA," said Aytu CEO Josh Disbrow in an Oct. 13 press release.
- The company expects to provide a detailed financial outlook of its strategy at its quarterly investors call scheduled for mid-November.
For further details see:
Aytu stock falls amid suspending clinical programs to save costs