Aytu BioScience Provides Third Quarter Fiscal 2017 Business Update

Mr. Disbrow concluded, "The third quarter was strong both operationally and financially in that we achieved net revenues approaching $1 million, while also reducing our cash used in operations compared to last quarter. Based on the promising prescription trends of Natesto, we continue to believe we are on pace to achieve break-even by next year.  Importantly, we successfully raised additional capital through a warrant tender that brought in $2.2 million, gross, and by divesting our non-strategic asset Primsol for $1.75 million. We believe we are well positioned for the quarters ahead to continue to increase revenues while further decreasing our cash burn with a near-term eye toward profitability."

Conference Call Information:

Interested participants and investors may access the conference call by dialing either:

1 (855) 656-0926 (U.S.)
1 (412) 542-4198 (international)
The webcast will be accessible live and archived on Aytu's website, aytubio.com, for 90 days.

A replay of the call will be available for seven days. Access the replay by calling 1 (877) 344-7529 (U.S.) or 1 (412) 317-0088 (international) and using the replay access code 10106783.

About Aytu BioScience, Inc.

Aytu BioScience is a commercial-stage specialty life sciences company focused on global commercialization of novel products in the field of urology, with a focus on products addressing vitality, sexual wellness, and reproductive health. The company currently markets two prescription products in the U.S.: Natesto®, the first and only FDA-approved nasal formulation of testosterone for men with hypogonadism (low testosterone, or "Low T") and ProstaScint® (capromab pendetide), the only FDA-approved imaging agent specific to prostate specific membrane antigen (PSMA) for prostate cancer detection and staging.  Additionally, Aytu is developing MiOXSYS®, a novel, rapid semen analysis system with the potential to become a standard of care for the diagnosis and management of male infertility caused by oxidative stress. MiOXSYS is commercialized outside the U.S. where it is a CE Marked, Health Canada cleared product, and Aytu is planning U.S.-based clinical trials in pursuit of 510k medical device clearance by the FDA. Aytu's strategy is to continue building its portfolio of revenue-generating products, leveraging its focused commercial team and expertise to build leading brands within growing markets. For more information visit aytubio.com.  Aytu also now owns wholly-owned subsidiary Nuelle, Inc., a personal health and wellness company focused on women's sexual wellbeing and intimacy that markets Fiera, a personal care device for women that is scientifically proven to enhance physical arousal and sexual desire. Fiera is a consumer device and is not intended to treat, mitigate, or cure any disease or medical condition. For more information about Aytu BioScience visit aytubio.com.  For more information about the Fiera personal care device visit fiera.com.

Forward Looking Statement

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. All statements other than statements of historical facts contained in this presentation, including statements regarding our anticipated future clinical and regulatory events, future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. Forward looking statements are generally written in the future tense and/or are preceded by words such as "may," "will," "should," "forecast," "could," "expect," "suggest," "believe," "estimate," "continue," "anticipate," "intend," "plan," or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. These statements are just predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include, among others: our anticipated future cash position and our need for additional capital in the near term, the risk of integrating Nuelle into our operations and realizing benefits from the acquisition, risks relating to gaining and increasing market acceptance of our products, obtaining reimbursement by third-party payors, the potential future commercialization of our product candidates, the anticipated start dates, durations and completion dates, as well as the potential future results, of our ongoing and future clinical trials, the anticipated designs of our future clinical trials, anticipated future regulatory submissions and events, and future events under our current and potential future collaborations. We also refer you to the risks described in "Risk Factors" in Part I, Item 1A of Aytu BioScience, Inc.'s Annual Report on Form 10-K, as amended by our Form 10-Q for the quarter ended March 31, 2017 and in the other reports and documents we file with the Securities and Exchange Commission from time to time.

Investor contact:
Amato and Partners, LLC
Investor Relations Counsel
admin@amatoandpartners.com

Aytu BioScience, Inc.
Balance Sheets
Unaudited
	March 31,		June 30,
	2017		2016
Assets
Current assets
Cash and cash equivalents	$   3,470,158		$   8,054,190
Restricted cash	75,107		-
Accounts receivable, net	342,537		162,427
Inventory, net	208,197		524,707
Prepaid expenses and other	342,113		215,558
Prepaid research and development - related party  (Note 11)	-		121,983
Investment in Acerus	-		1,041,362
Total current assets	4,438,112		10,120,227
Fixed assets, net	271,276		231,430
Developed technology, net	641,875		1,159,736
Customer contracts, net	585,000		1,353,375
Trade names, net	65,000		194,472
Natesto asset, net	9,560,754		10,549,797
Goodwill	74,000		221,000
Patents, net	277,611		296,611
Long-term portion of prepaid research and development - related party (Note 11)	-		213,471
Deposits	2,888		2,888
Total long-term assets	11,478,404		14,222,780
Total assets	$ 15,916,516		$ 24,343,007
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable and other	$   1,408,953		$   2,322,605
Accrued liabilities	1,050,816		1,197,106
Natesto payable	-		5,379,675
Accrued compensation	845,571		1,200,930
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