Mississauga, ON -- (SBWIRE) -- 05/18/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Aytu Bioscience Outlines Commercial Expansion Plans to Support Launch of New Drug."
Companies mentioned in this article include iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB), Gilead Sciences (NASDAQ:GILD), Biogen (NASDAQ:BIIB) and Aytu BioScience Inc. (OTCQX:AYTU).
The biotechnology sector has bounced back sharply this week after struggling since the end of April. Indeed, the sector was headed into bear market territory before the reversal this week.
So far this week, the iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) gained more than 3.3%. Year-to-date though, IBB still remains down more than 23%. This is one of the worst starts made by the sector in years.
The poor performance of the biotech sector can be attributed to weakening fundamentals. The latest earnings season saw some major biotech companies, including the likes of Gilead Sciences (NASDAQ:GILD) and Biogen (NASDAQ:BIIB) report disappointing results. Biotech companies have been also struggling to gain access to capital markets, with several IPOs being cancelled and the pace of secondary offerings also slowing down.
Aytu BioScience Inc. (OTCQX:AYTU) is a Colorado-based commercial-stage specialty pharmaceutical company focused on global commercialization of novel products in the field of urology. AYTU currently markets two products: ProstaScint® (capromab pendetide), the only FDA-approved imaging agent specific to prostate cancer, and Primsol® (trimethoprim hydrochloride), the only FDA-approved trimethoprim-only oral solution for urinary tract infections. The company recently acquired exclusive U.S. rights to Natesto®, the first and only FDA-approved nasal formulation of testosterone for men with hypogonadism. This morning the company provided an update on Natesto's commercial launch.
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