Stock Alert: Aytu BioScience Shares Up 20% In Pre-Market

(RTTNews) - Shares of Aytu BioScience Inc. (AYTU) are rising over 20% in the pre-market today, after the company announced that it received confirmation from the U.S. Food and Drug Administration or FDA to begin distribution of its Coronavirus Disease 2019 or COVID-2019 IgG/IgM Rapid Test throughout the United States.

Aytu expects delivery of its first shipment of 100,000 tests this week. The company has been in discussions with healthcare distributors, healthcare institutions, medical practices, and government agencies and is working quickly to begin distribution into the U.S. healthcare supply chain.

The stock has been trading between $0.34 and $2.99 in the past one year, and closed Friday's trade at $1.36, up 6 cents or 4.62%. AYTU is currently trading at $1.64, up 28 cents or 20.59% in the pre-market trading session.