<SEC-DOCUMENT>0001654954-19-014023.txt : 20191217
<SEC-HEADER>0001654954-19-014023.hdr.sgml : 20191217
<ACCEPTANCE-DATETIME>20191217160814
ACCESSION NUMBER:		0001654954-19-014023
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20191217
DATE AS OF CHANGE:		20191217

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AYTU BIOSCIENCE, INC
		CENTRAL INDEX KEY:			0001385818
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				470883144
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-235548
		FILM NUMBER:		191289808

	BUSINESS ADDRESS:	
		STREET 1:		373 INVERNESS PARKWAY
		STREET 2:		SUITE 206
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		(720) 437-6580

	MAIL ADDRESS:	
		STREET 1:		373 INVERNESS PARKWAY
		STREET 2:		SUITE 206
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AYTU BIOSCIENCE, INC.
		DATE OF NAME CHANGE:	20150609

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Rosewind CORP
		DATE OF NAME CHANGE:	20070110
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>aytu_s3.htm
<DESCRIPTION>REGISTRATION STATEMENT
<TEXT>
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<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">As
filed with the Securities and Exchange Commission on December 17,
2019</font></div>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Registration
No.&#xA0;333-&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 1px; font-family: Times New Roman, Serif">&#xA0;</font></div>
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<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">UNITED
STATES</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Washington,
D.C. 20549</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">FORM
S-3</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">REGISTRATION
STATEMENT</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-style: italic; font-weight: bold; font-size: 13px; font-family: Times New Roman">
UNDER</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-style: italic; font-weight: bold; font-size: 13px; font-family: Times New Roman">
THE SECURITIES ACT OF 1933</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">AYTU
BIOSCIENCE, INC.</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(Exact
Name of Registrant as Specified in Its Charter)</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: center; font-family: inherit; font-size: inherit; width: 80%; margin: 0px auto;">
<tr>
<td style="width: 49%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Delaware</font></div>
</td>
<td style="width: 2%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 49%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">47-0883144</font></div>
</td>
</tr><tr>
<td style="width: 49%;">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(State
or Other Jurisdiction of</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Incorporation
or Organization)</font></div>
</td>
<td style="width: 2%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 49%;">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(I.R.S.
Employer</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Identification
No.)</font></div>
</td>
</tr></table>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">373
Inverness Parkway, Suite 206</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Englewood,
Colorado 80112</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(720)
437-6580</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(Address,
Including Zip Code, and Telephone Number, Including Area Code, of
Registrant&#x2019;s Principal Executive Offices)</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Joshua
R. Disbrow</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Chief
Executive Officer</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">373
Inverness Parkway, Suite 206</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Englewood,
Colorado 80112</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Telephone:
(720) 437-6580</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(Name,
Address, Including Zip Code, and Telephone Number, Including Area
Code, of Agent for Service)</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-style: italic; font-weight: bold; font-size: 13px; font-family: Times New Roman">
Copies to:</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Nolan
S. Taylor</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Anthony
W. Epps</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Dorsey
&amp; Whitney LLP</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">111
S. Main Street, Suite 2100</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Salt
Lake City, Utah 84111</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(801)
933-7360</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Approximate date of commencement of proposed
sale to the public:</font> From time to time after the effective
date of this registration statement.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">If the only
securities being registered on this Form are being offered pursuant
to dividend or interest reinvestment plans, please check the
following box.&#xA0;&#xA0;&#x2610;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">If any of the
securities being registered on this Form are to be offered on a
delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, other than securities offered only in
connection with dividend or interest reinvestment plans, please
check the following box.&#xA0;&#xA0;&#x2612;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">If this Form is
filed to register additional securities for an offering pursuant to
Rule 462(b) under the Securities Act, please check the following
box and list the Securities Act registration statement number of
the earlier effective registration statement for the same
offering.&#xA0;&#xA0;&#x2610;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">If this Form is a
post-effective amendment filed pursuant to Rule 462(c) under the
Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration
statement for the same offering.&#xA0;&#xA0;&#x2610;</font></div>
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</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">If this Form is a
registration statement pursuant to General Instruction I.D. or a
post-effective amendment thereto that shall become effective upon
filing with the Commission pursuant to Rule 462(e) under the
Securities Act, check the following
box.&#xA0;&#xA0;&#x2610;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">If this Form is a
post-effective amendment to a registration statement filed pursuant
to General Instruction I.D. filed to register additional securities
or additional classes of securities pursuant to Rule 413(b) under
the Securities Act, check the following
box.&#xA0;&#xA0;&#x2610;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Indicate by check
mark whether the Registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, smaller reporting
company, or an emerging growth company. See the definitions of
&#x201C;large accelerated filer,&#x201D; &#x201C;accelerated
filer,&#x201D; &#x201C;smaller reporting company,&#x201D; and
&#x201C;emerging growth company&#x201D; in Rule 12b-2 of the Exchange
Act:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-family: inherit; font-size: inherit;width: 100%;">
<tr>
<td style="width: 39%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Large&#xA0;accelerated&#xA0;filer
&#x2610;</font></div>
</td>
<td style="width: 39%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Smaller reporting
company &#x2612;</font></div>
</td>
</tr><tr>
<td style="width: 39%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Accelerated Filer
&#x2610;</font></div>
</td>
<td style="width: 39%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Emerging growth
company <font style="font-family: Segoe Ui Symbol, Sans-serif">&#x2610;</font></font></div>
</td>
</tr><tr>
<td style="width: 39%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Non-accelerated
filer &#x2612;</font></div>
</td>
<td style="width: 39%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">If an emerging
growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 7(a)(2)(B) of the Securities Act.
&#x2610;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">CALCULATION
OF REGISTRATION FEE</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-family:inherit;margin-right:0px;margin-left:0px;width:100%;font-size:inherit;">
<tr>
<td rowspan="1" style="vertical-align:bottom;width:52%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="font-weight: bold; font-size: 11px; font-family: Times New Roman">Title
of Each Class of Securities to be Registered</font></div>
</td>
<td colspan="1" rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-size: 11px;">
<div><font style="font-family:Times New Roman;font-weight:bold;">Amount</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">to&#xA0;be</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Registered(1)</font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font></div>
</td>
<td colspan="1" rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-size: 11px;">
<div><font style="font-family:Times New Roman;font-weight:bold;">Proposed</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Maximum</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Offering&#xA0;Price</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Per&#xA0;Share(2)</font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font></div>
</td>
<td colspan="1" rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-size: 11px;">
<div><font style="font-family:Times New Roman;font-weight:bold;">Proposed</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Maximum</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Aggregate</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Offering</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Price</font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font></div>
</td>
<td colspan="1" rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-size: 11px;">
<div><font style="font-family:Times New Roman;font-weight:bold;">Amount&#xA0;of</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Registration</font></div>
<div><font style="font-family:Times New Roman;font-weight:bold;">Fee</font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:52%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:12px;">
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: -12px"><font style="font-size: 13px; font-family: Times New Roman">Common Stock,
issuable upon conversion of Series F Convertible Preferred Stock
(3)</font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;font-size:13px;display:inline-block;width:5%;border-bottom:solid 2px #000;">&#xA0;</font><font style="text-align: right; font-family:Times New Roman;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:solid 2px #000;">10,000,000<br></font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">0.77</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
<td colspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">7,700,000</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
<td colspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">999.46</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:52%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:12px;">
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: -12px"><font style="font-size: 13px; font-family: Times New Roman">Common Stock
issuable upon exercise of Warrants (3)</font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;font-size:13px;display:inline-block;width:5%;border-bottom:solid 2px #000;">&#xA0;</font><font style="text-align: right; font-family:Times New Roman;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:solid 2px #000;">10,000,000</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">0.77</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
<td colspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">7,700,000</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
<td colspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Times New Roman;border-bottom:solid 2px #000;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">999.46</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:52%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:4px;margin-left:12px;">
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: -12px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">TOTAL</font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;font-size:13px;display:inline-block;width:5%;border-bottom:double 4px black;">&#xA0;</font><font style="text-align: right; font-family:Times New Roman;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:double 4px black;">20,000,000<br></font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;font-size:13px;display:inline-block;width:5%;border-bottom:double 4px black;">&#xA0;</font><font style="text-align: right; font-family:Times New Roman;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:double 4px black;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
<td colspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;border-bottom:double 4px black;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Times New Roman;border-bottom:double 4px black;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">15,400,000</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
<td colspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Times New Roman;border-bottom:double 4px black;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Times New Roman;border-bottom:double 4px black;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">1,998.92</font><font style="text-align: left; font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-family: inherit; font-size: inherit;width: 100%;">
<tr>
<td style="width: 3%; vertical-align: top;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">(1)</font></div>
</td>
<td style="width: 75%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Pursuant to Rule
416 under the Securities Act of 1933, as amended (the
&#x201C;Securities Act&#x201D;), the registrant is also registering
an indeterminate number of additional shares of Common Stock
issuable by reason of any stock dividend, stock split,
recapitalization or other similar transaction.</font></div>
</td>
</tr><tr>
<td style="width: 3%; vertical-align: top;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">(2)</font></div>
</td>
<td style="width: 75%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Pursuant to Rule
457(c) under the Securities Act, and solely for the purpose of
calculating the registration fee, the proposed maximum offering
price per share is $0.77, which is the average of the high and low
prices of the Common Stock on December 12, 2019, on the NASDAQ
Capital Market.</font></div>
</td>
</tr><tr>
<td style="width: 3%; vertical-align: top;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">(3)</font></div>
</td>
<td style="width: 75%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Includes, (i)
10,000,000 shares of Common Stock issuable upon the exercise of
warrants (the &#x201C;PIPE Warrants&#x201D;) issued pursuant to the
Securities Purchase Agreements (the &#x201C;Purchase
Agreement&#x201D;) dated October 11, 2019 with Armistice Capital
Master Fund Ltd. and Altium Capital Management LP (the
&#x201C;Selling Stockholders&#x201D;) and (ii) 10,000,000 shares of
Common Stock issuable upon the conversion of the Series F
Convertible Preferred Stock (the &#x201C;Series F Preferred
Stock&#x201D;) issued to the Selling Stockholders pursuant to the
Purchase Agreement.</font></div>
</td>
</tr></table>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">THE REGISTRANT HEREBY AMENDS THIS REGISTRATION
STATEMENT ON SUCH DATE OR DATES AS MAY BE NECESSARY TO DELAY ITS
EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT
WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL
THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(A) OF THE
SECURITIES ACT OF 1933 OR UNTIL THE REGISTRATION STATEMENT SHALL
BECOME EFFECTIVE ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO
SAID SECTION 8(A), MAY DETERMINE.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 2px; background-color: #000000"><!--page break--></div>
<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="color: #ff4338; font-weight: bold; font-size: 13px; font-family: Times New Roman">
The information in this prospectus is not complete and may be
changed. We may not sell these securities until the registration
statement filed with the Securities and Exchange Commission is
effective. This prospectus is not an offer to sell these securities
and it is not soliciting an offer to buy these securities in any
jurisdiction where the offer or sale is not permitted.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="color: #ff4338; font-weight: bold; font-size: 13px; font-family: Times New Roman">
SUBJECT TO COMPLETION DATED DECEMBER 17, 2019</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">PROSPECTUS</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><img src="aytu_s3000.jpg"></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">AYTU
BIOSCIENCE, INC.</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">10,000,000
Shares of Common Stock Issuable upon Exercise of PIPE
Warrants</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">10,000,000
Shares of Common Stock Issuable upon Conversion of Series F
Convertible Preferred Stock</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">This prospectus
relates to the resale of 20,000,000 shares of Common Stock, par
value $0.0001 per share (&#x201C;Common Stock&#x201D;) of Aytu
BioScience, Inc. (the &#x201C;Company&#x201D;) by Armistice Capital
Master Fund Ltd. and Altium Capital Management LP (the
&#x201C;Selling Stockholders&#x201D;). The Common Stock includes (1)
10,000,000 shares of Common Stock issuable upon the exercise of
PIPE warrants (the &#x201C;PIPE Warrants&#x201D;) issued pursuant to
the securities purchase agreement, dated October 11, 2019 (the
&#x201C;Purchase Agreement&#x201D;) by and between us and the Selling
Stockholders and (2) 10,000,000 shares of Common Stock issuable
upon the conversion of 10,000 shares of Series F Convertible
Preferred Stock (&#x201C;Series F Preferred Stock&#x201D;) of the
Company issued to the Selling Stockholders pursuant to the Purchase
Agreement. The PIPE Warrants have an exercise price of $1.25 per
share, each subject to adjustment as described below. We will
receive the proceeds from the exercise of the Warrants. We will not
receive any proceeds from the conversion of Series F Preferred
Stock or from the sale of any shares of Common Stock by the Selling
Stockholders pursuant to this prospectus.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Our registration of
the securities covered by this prospectus does not mean that the
Selling Stockholders will offer or sell any of the shares of Common
Stock. The Selling Stockholders may sell the shares of Common Stock
offered by this prospectus from time to time on terms to be
determined at the time of sale through ordinary brokerage
transactions or through any other means described in this
prospectus under the caption &#x201C;Plan of Distribution.&#x201D;
The shares of Common Stock may be sold at fixed prices, at market
prices prevailing at the time of sale, at prices related to
prevailing market prices or at negotiated prices.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">Our Common Stock is
traded on the NASDAQ Capital Market (&#x201C;NASDAQ&#x201D;) under
the symbol &#x201C;AYTU&#x201D;. On December 12, 2019, the last
reported sales price of our Common Stock was $0.8257 per
share.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">An
investment in our securities involves risks. See &#x201C;Risk
Factors&#x201D; beginning on page 7 of this prospectus, page 13 of
our Annual Report on Form 10-K for the fiscal year ended June 30,
2019, and any updates to those risk factors or new risk factors
contained in our subsequent Annual Reports on Form 10-K, Quarterly
Reports on Form&#xA0;10-Q and Current Reports on Form 8-K filed
with the SEC, all of which we incorporate by reference
herein.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Neither
the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or
determined if this prospectus is truthful or complete. Any
representation to the contrary is a criminal offense.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">The
date of this prospectus
is&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;,
2019</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><br></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 2px; background-color: #000000"><!--page break--></div>
<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">TABLE
OF CONTENTS</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-family: inherit; font-size: inherit;width: 100%;">
<tr style="background-color: rgb(204, 238, 255);">
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#abo"><font style="font-size: 13px; font-family: Times New Roman">ABOUT THIS
PROSPECTUS</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">ii</font></div>
</div>
</td>
</tr><tr>
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#ps"><font style="font-size: 13px; font-family: Times New Roman">PROSPECTUS
SUMMARY</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">3<br></font></div>
</div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#RISK"><font style="font-size: 13px; font-family: Times New Roman">RISK
FACTORS</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">7<br></font></div>
</div>
</td>
</tr><tr>
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#FOR"><font style="font-size: 13px; font-family: Times New Roman">FORWARD-LOOKING
STATEMENTS</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">8<br></font></div>
</div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#USE"><font style="font-size: 13px; font-family: Times New Roman">USE OF
PROCEEDS</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">9<br></font></div>
</div>
</td>
</tr><tr>
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#DES"><font style="font-size: 13px; font-family: Times New Roman">DESCRIPTION OF
SECURITIES</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">9<br></font></div>
</div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#DES"><font style="font-size: 13px; font-family: Times New Roman">PRIVATE
PLACEMENT<br></font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">16&#xA0;</font></div>
</div>
</td>
</tr><tr>
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#SEL"><font style="font-size: 13px; font-family: Times New Roman">SELLING
STOCKHOLDERS</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">17</font></div>
</div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#PLA"><font style="font-size: 13px; font-family: Times New Roman">PLAN OF
DISTRIBUTION</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">18</font></div>
</div>
</td>
</tr><tr>
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#LEG"><font style="font-size: 13px; font-family: Times New Roman">LEGAL
MATTERS</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">19<br></font></div>
</div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#EXP"><font style="font-size: 13px; font-family: Times New Roman">EXPERTS</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">19<br></font></div>
</div>
</td>
</tr><tr>
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#WHE"><font style="font-size: 13px; font-family: Times New Roman">WHERE YOU CAN FIND
MORE INFORMATION</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">20<br></font></div>
</div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="width: 75%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><a href="#DOC"><font style="font-size: 13px; font-family: Times New Roman">DOCUMENTS
INCORPORATED BY REFERENCE</font></a></div>
</div>
</td>
<td style="width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">20<br></font></div>
</div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">You
should rely only on the information provided in this prospectus, as
well as the information incorporated by reference into this
prospectus and any applicable prospectus supplement. We have not
authorized anyone to provide you with different information. We are
not making an offer of these securities in any jurisdiction where
the offer is not permitted. You should not assume that the
information in this prospectus, any applicable prospectus
supplement or any documents incorporated by reference is accurate
as of any date other than the date of the applicable document.
Since the respective dates of this prospectus and the documents
incorporated by reference into this prospectus, our business,
financial condition, results of operations and prospects may have
changed.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><br></div>
<div id="pgbrk" style="text-align: left; width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">i</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><br></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman"><a name="abo">A</a>BOUT THIS PROSPECTUS</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">You should rely
only on the information contained in this prospectus or in any
related free writing prospectus filed by us with the Securities and
Exchange Commission (&#x201C;SEC&#x201D;). We and the Selling
Stockholders have not authorized anyone to provide you with any
information or to make any representation not contained in this
prospectus. We and the Selling Stockholders do not take any
responsibility for, and can provide no assurance as to the
reliability of, any information that others may provide to you.
This prospectus is not an offer to sell or an offer to buy
securities in any jurisdiction where offers and sales are not
permitted. The information in this prospectus is accurate only as
of its date, regardless of the time of delivery of this prospectus
or any sale of securities. You should also read and consider the
information in the documents to which we have referred you under
the caption &#x201C;Where You Can Find More Information&#x201D; in
the prospectus.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Neither we nor the
Selling Stockholders have done anything that would permit a public
offering of the securities or possession or distribution of this
prospectus in any jurisdiction where action for that purpose is
required, other than in the United States. Persons outside the
United States who come into possession of this prospectus must
inform themselves about, and observe any restrictions relating to,
the offering of the securities and the distribution of this
prospectus outside of the United States.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">We urge you to read
carefully this prospectus, as supplemented and amended, before
deciding whether to invest in any of the Common Stock being
offered.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Unless the context
indicates otherwise, as used in this prospectus, the terms
&#x201C;Aytu,&#x201D; &#x201C;we,&#x201D; &#x201C;us,&#x201D;
&#x201C;our,&#x201D; and &#x201C;our business&#x201D; refer to Aytu
BioScience, Inc. and its subsidiary.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">We own, license, or
otherwise have rights to various U.S. federal trademark
registrations and applications, and unregistered trademarks and
service marks, including Korbinal, Cefaclor, AcipHex Sprinkle,
MiOXSYS, Natesto, Poly-Vi-Flor, Tri-Vi-Flor, and ZolpiMist. All
other trade names, trademarks and service marks appearing in this
prospectus are the property of their respective owners. We have
assumed that the reader understands that all such terms are
source-indicating. Accordingly, such terms, when first mentioned in
this prospectus, appear with the trade name, trademark or service
mark notice and then throughout the remainder of this prospectus
without trade name, trademark or service mark notices for
convenience only and should not be construed as being used in a
descriptive or generic sense.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">ii</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 2px; background-color: #000000"><!--page break--></div>
<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman"><a name="a_002">&#xA0;</a>P<a name="ps">R</a>OSPECTUS
SUMMARY</font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-style: italic; font-size: 13px; font-family: Times New Roman">
<font style="font-family: Symbol;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-style: italic; font-size: 13px;">This prospectus summary
highlights selected information contained in this prospectus and
does not contain all of the information that is important to you.
This prospectus summary is qualified in its entirety by the more
detailed information included in or incorporated by reference into
this prospectus. Before making your investment decision with
respect to our Common Stock, you should carefully read this entire
prospectus, any applicable prospectus supplement and the documents
referred to in &#x201C;Where You Can Find More Information&#x201D;
and &#x201C;Documents Incorporated by
Reference.&#x201D;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">The
Company</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 17px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Overview</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 17px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">We are a
commercial-stage specialty pharmaceutical company focused on global
commercialization of novel products addressing significant medical
needs. We have multiple approved products on the market, and we
seek to build a portfolio of novel therapeutics that serve large
medical needs, across a range of conditions, through our in-house
commercial team. Our commercial infrastructure consists primarily
of a pharmaceutical sales force calling on physicians throughout
the US. We focus our commercial efforts on serving large
therapeutic areas and offer products with distinct patient
benefits.</font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">We acquired
exclusive U.S. rights to Natesto<font style="font-size: 70%; vertical-align: top">&#xAE;</font>&#xA0;(testosterone)
nasal gel, a novel formulation of testosterone delivered via a
discreet, easy-to-use nasal gel, and we launched Natesto in the
U.S. with our direct sales force in 2016. Natesto is approved by
the U.S. Food and Drug Administration, or FDA, for the treatment of
hypogonadism (low testosterone) in men and is the only testosterone
replacement therapy, or TRT, delivered via a nasal gel. Natesto
offers multiple advantages over currently available TRTs and
competes in a $1.7 billion market accounting for over 6.9 million
prescriptions annually. Importantly, as Natesto is delivered via
the nasal mucosa and not the skin, there is no risk of testosterone
transference to others, a known potential side effect and black box
warning associated with all other topically applied TRTs, including
the market leader AndroGel<font style="font-size: 70%; vertical-align: top">&#xAE;</font>.</font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">In June 2018 we acquired an exclusive U.S. and
Canadian license to ZolpiMist&#x2122;. ZolpiMist is an FDA-approved
prescription product that is indicated for the short-term treatment
of insomnia and is the only oral spray formulation of zolpidem
tartrate, the most widely prescribed prescription sleep aid in the
U.S. ZolpiMist is commercially available and competes in the
non-benzodiazepine prescription sleep aid category, a $1.8 billion
prescription drug category with over 43 million prescriptions
written annually. Thirty million prescriptions of zolpidem tartrate
(Ambien<font style="font-size: 70%; vertical-align: top">&#xAE;</font>,
Ambien<font style="font-size: 70%; vertical-align: top">&#xAE;</font> CR,
Intermezzo<font style="font-size: 70%; vertical-align: top">&#xAE;</font>,
Edluar<font style="font-size: 70%; vertical-align: top">&#xAE;</font>,
ZolpiMist&#x2122;, and generic forms of immediate-release,
controlled release, and orally dissolving tablet formulations) are
written each year in the U.S., representing almost 70% of the
non-benzodiazepine sleep aid category. Approximately 2.5 million
prescriptions are written for novel formulations of zolpidem
tartrate products (controlled release and sublingual tablets). We
intend to integrate ZolpiMist into our sales force&#x2019;s
promotional efforts as an adjunct product to Natesto as there is
substantial overlap of physician prescribers among our primary care
physician targets.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">In November 2018 we acquired an exclusive
commercial license from Tris Pharma to market Tuzistra<font style="font-size: 70%; vertical-align: top">&#xAE;</font> XR in the U.S.
Tuzistra XR is indicated for the temporary relief of cough and
upper respiratory symptoms associated with allergy or the common
cold in patients 18 years of age and older. Tuzistra XR is a
patented combination of codeine, an opiate agonist antitussive, and
chlorpheniramine, a histamine-1 receptor antagonist, indicated for
relief of cough and symptoms associated with upper respiratory
allergies or a common cold in adults aged 18 years and older.
Tuzistra XR is protected by two Orange Book-listed patents
extending to 2031 and multiple pending patents. According to
MediMedia, the US cough cold prescription market is worth in excess
of $3 billion at current brand pricing, with 30-35 million annual
prescriptions. This market is dominated by short-acting treatments,
which require dosing 4-6 times a day. Tuzistra XR was developed
using Tris Pharma's liquid sustained release technology,
LiquiXR<font style="font-size: 70%; vertical-align: top">&#xAE;</font>, which allows
for extended drug delivery throughout a 12-hour dosing
period.</font><br></font></div>

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<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">3</font></div>
</div>
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</div>
</div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">In November 2019 we acquired a portfolio of six
commercial assets from Cerecor, Inc. (the &#x201C;Commercial
Portfolio&#x201D;). The Commercial Portfolio includes prescription
products competing in markets exceeding $8 billion in annual U.S.
sales. The portfolio consists of six established, commercialized
pediatric primary care products including: Karbinal<font style="font-size: 70%; vertical-align: top">&#xAE;</font> ER,
Poly-Vi-Flor<font style="font-size: 70%; vertical-align: top">&#xAE;</font>,
Tri-Vi-Flor&#x2122;, AcipHex<font style="font-size: 70%; vertical-align: top">&#xAE;</font>
Sprinkle&#x2122;, Cefaclor for Oral Suspension, and
Flexichamber&#x2122;.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Each product has distinct clinical features and
patient-friendly benefits and are indicated to treat common
pediatric and primary care conditions.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="margin-left: 48px; display: table;">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Karbinal<font style="font-size: 70%; vertical-align: top">&#xAE;</font> ER
(carbinoxamine maleate extended-release oral suspension): Karbinal
ER is an H1 receptor antagonist (antihistamine) indicated to treat
various allergic conditions including seasonal and perennial
allergic rhinitis, vasomotor rhinitis, and other common allergic
conditions.</font></font></div>
</div>
</div>
<div style="margin-left: 48px; display: table;">
<div style="display: table-row"><br></div>
</div>

<div style="margin-left: 48px; display: table;">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Poly-Vi-Flor<font style="font-size: 70%; vertical-align: top">&#xAE;</font> and
Tri-Vi-Flor&#xAE;: Poly-Vi-Flor and Tri-Vi-Flor are two
complementary prescription fluoride-based supplement product lines
containing combinations of vitamins and fluoride in various oral
formulations. These prescription supplements are prescribed for
infants and children to treat or prevent fluoride deficiency due to
poor diet or low levels of fluoride in drinking water and other
sources.</font></font></div>
</div>
</div>
<div style="margin-left: 48px; display: table;">
<div style="display: table-row"><br></div>
</div>

<div style="margin-left: 48px; display: table;">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">AcipHex<font style="font-size: 70%; vertical-align: top">&#xAE;</font> Sprinkle&#x2122;
(rabeprazole sodium): AcipHex Sprinkle is a granule formulation of
rabeprazole sodium, a commonly prescribed proton pump inhibitor.
AcipHex Sprinkle is indicated for the treatment of gastroesophageal
reflux disease (GERD) in pediatric patients 1 to 11 years of age
for up to 12 weeks.</font></font></div>
</div>
</div>
<div style="margin-left: 48px; display: table;">
<div style="display: table-row"><br></div>
</div>

<div style="margin-left: 48px; display: table;">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Cefaclor
(cefaclor oral suspension): Cefaclor for oral suspension is a
second-generation cephalosporin antibiotic suspension and is
indicated for the treatment of numerous common infections caused by
Streptococcus pneumoniae, Haemophilus influenzae, staphylococci,
and Streptococcus pyogenes, and others.</font></font></div>
</div>
</div>
<div style="margin-left: 48px; display: table;">
<div style="display: table-row"><br></div>
</div>

<div style="margin-left: 48px; display: table;">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Flexichamber<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x2122;</font></font>: Flexichamber is an
anti-static, valved collapsible holding chamber intended to be used
by patients to administer aerosolized medication from most
pressurized metered dose inhalers (MDIs) such as commonly used
asthma medications.</font></font></div>
</div>
</div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="display: table;"></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">In the future we will look to acquire additional
commercial-stage or near-market products, including existing
products we believe can offer distinct commercial advantages. Our
management team&#x2019;s prior experience has involved identifying
primarily commercial-stage assets that can be launched or
re-launched to increase value, with a focused commercial
infrastructure specializing in novel, niche
products.</font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Our management team has extensive experience
across a wide range of business development activities and have
in-licensed or acquired products from large, mid-sized, and small
enterprises in the United States and abroad. Through an assertive
product and business development approach, we expect that we will
build a substantial portfolio of complementary urology
products.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 9px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Corporate
Information</font></font></div>

<div style="text-align: left; margin-left: 12px; margin-right: 9px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We were incorporated as Rosewind Corporation on
August 9, 2002 in the State of Colorado.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Vyrix Pharmaceuticals, Inc., or Vyrix, was
incorporated under the laws of the State of Delaware on November
18, 2013 and was wholly owned by Ampio Pharmaceuticals, Inc. (NYSE
American: AMPE), or Ampio, immediately prior to the completion of
the Merger (defined below). Vyrix was previously a carve-out of the
sexual dysfunction therapeutics business, including the late-stage
men&#x2019;s health product candidates, Zertane and Zertane-ED, from
Ampio, that carve-out was announced in December 2013. Luoxis
Diagnostics, Inc., or Luoxis, was incorporated under the laws of
the State of Delaware on January 24, 2013 and was majority owned by
Ampio immediately prior to the completion of the Merger. Luoxis was
initially focused on developing and advancing the RedoxSYS System.
The MiOXSYS System was developed following the completed
development of the RedoxSYS System.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">On March 20, 2015, Rosewind formed Rosewind
Merger Sub V, Inc. and Rosewind Merger Sub L, Inc., each a
wholly-owned subsidiary formed for the purpose of the Merger, and
on April 16, 2015, Rosewind Merger Sub V, Inc. merged with and into
Vyrix and Rosewind Merger Sub L, Inc. merged with and into Luoxis,
and Vyrix and Luoxis became subsidiaries of Rosewind. Immediately
thereafter, Vyrix and Luoxis merged with and into Rosewind with
Rosewind as the surviving corporation (herein referred to as the
Merger). Concurrent with the closing of the Merger, Rosewind
abandoned its pre-merger business plans, and we now solely pursue
the specialty healthcare market, focusing on urological related
conditions, including the business of Vyrix and Luoxis. When we
discuss our business in this prospectus, we include the pre-Merger
business of Luoxis and Vyrix.</font></font></div>

<div><font style="font-family: Symbol;"><br></font></div>

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<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">4</font></div>
</div>
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<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">On June 8, 2015, we (i) reincorporated as a
domestic Delaware corporation under Delaware General Corporate Law
and changed our name from Rosewind Corporation to Aytu BioScience,
Inc., and (ii) effected a reverse stock split in which each Common
Stock holder received one share of Common Stock for each 12.174
shares outstanding. At our annual meeting of stockholders held on
May 24, 2016, our stockholders approved (1) an amendment to our
Certificate of Incorporation to reduce the number of authorized
shares of Common Stock from 300.0 million to 100.0 million, which
amendment was effective on June 1, 2016, and (2) an amendment to
our Certificate of Incorporation to affect a reverse stock split at
a ratio of 1-for-12 which became effective on June 30, 2016. At our
special meeting of stockholders held on July 26, 2017, our
stockholders approved an amendment to our Certificate of
Incorporation to affect a reverse stock split at a ratio of
1-for-20 which became effective on August 25, 2017. In addition, at
our annual meeting of stockholders held on June 27, 2018, our
stockholders approved an amendment to our Certificate of
Incorporation to affect a reverse stock split at a ratio of up to
1-for-20, which reverse stock split became effective at a ratio of
1-for-20 on August 10, 2018. All share and per share amounts in
this prospectus have been adjusted to reflect the effect of these
four reverse stock splits.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Our principal executive offices are located at
373 Inverness Parkway, Suite 206, Englewood, Colorado 80112, and
our phone number is (720) 437-6580. Our corporate website address
is http://www.aytubio.com. The information contained on, connected
to or that can be accessed via our website is not part of this
prospectus. We have included our website address in this prospectus
as an inactive textual reference only and not as an active
hyperlink.&#xA0;&#xA0;<br></font></font></div>

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<div id="ftr">
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">5</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">The
Offering</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We are registering the resale of (1) 10,000,000
shares of Common Stock issuable upon exercise of 10,000,000 PIPE
Warrants issued pursuant to the Purchase Agreement and (2)
10,000,000 shares of Common Stock issuable upon the conversion of
10,000 shares of Series F Preferred Stock issued pursuant to the
Purchase Agreement.</font></font></div>

<div style="text-align: justify; margin-left: 12px; margin-right: 9px; text-indent: 48px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-size: inherit; width: 100%;">
<tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Shares of Common Stock offered by the Selling
Stockholders</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">20,000,000&#xA0;shares.</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Shares of Common Stock&#xA0;outstanding prior to
this Offering</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">20,733,052 shares.</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Shares of Common Stock&#xA0;outstanding after
this Offering assuming exercise of all of the PIPE Warrants and
conversion of all of the shares of Series F Preferred Stock
</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">40,733,052 shares.</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Use of proceeds</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">All of the shares of Common Stock offered by the
Selling Stockholders pursuant to this prospectus will be sold by
the Selling Stockholders for its own account. We will not receive
any of the proceeds from these sales.</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Terms of PIPE Warrants</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Each PIPE Warrant entitles the holder to
purchase one share of our Common Stock at an exercise price of
$1.25 per share, subject to adjustment. The PIPE Warrants will
expire on October 11, 2024.</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We will receive up to an aggregate of
approximately $12.5 million from the exercise of the PIPE Warrants,
assuming the exercise in full of all of the PIPE Warrants for cash.
We expect to use the net proceeds from the exercise of the PIPE
Warrants for general corporate purposes.</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Trading Market and Ticker Symbol for Common
Stock</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Our Common Stock is currently listed on NASDAQ
under the symbol &#x201C;AYTU.&#x201D;</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 30%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Risk Factors</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 47%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">This investment involves a high degree of risk.
You should read the description of risks set forth under
&#x201C;Risk Factors&#x201D; beginning on page 7 of this prospectus
and the documents incorporated by reference herein for a discussion
of factors to consider before deciding to purchase our
securities.</font></font></div>
</td>
</tr></table>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Unless otherwise indicated, all information in
this prospectus excludes as of December 1,
2019:</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>

<div style="display: table; margin-left: 36px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">1,482 shares
of our Common Stock issuable upon exercise of outstanding stock
options under our 2015 Stock Option and Incentive Plan at a
weighted average exercise price of $325.54 per share, of which
1,482 are exercisable;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 36px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">16,459,663
shares of our Common Stock issuable upon exercise of outstanding
warrants (other than the PIPE Warrants) with a weighted average
exercise price of $4.16 per share; and</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 36px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">10,205,845 shares of our Common Stock issuable
upon conversion (other than the Series F Preferred Stock) of
400,000 shares of Series D Convertible Preferred Stock, and
9,805,845 shares of Series G Convertible Preferred Stock</font>
..</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">6</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 2px; background-color: #000000"><!--page break--></div>
<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;"><a name="RISK">R</a>ISK FACTORS</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-style: italic; font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-style: italic; font-size: 13px;">An investment in our
securities involves risks and uncertainties. You should consider
carefully the risks described below, those beginning on page 13 of
our Annual Report on Form 10-K for the fiscal year ended June 30,
2019, and any updates to those risk factors or new risk factors
contained in our subsequent Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K filed with the
SEC, all of which we incorporate by reference herein, as well as
the other information included in this prospectus, and any
applicable prospectus supplement, before making an investment
decision. Any of the risk factors could significantly and
negatively affect our business, financial condition, results of
operations, cash flows, and prospects and the trading price of our
securities.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">7</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 2px; background-color: #000000"><!--page break--></div>
<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;"><a name="FOR">F</a>ORWARD-LOOKING STATEMENTS</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">This prospectus includes forward-looking
statements within the meaning of Section&#xA0;27A of the Securities
Act of 1933, as amended, and Section&#xA0;21E of the Securities
Exchange Act of 1934, or the Exchange Act. All statements other
than statements of historical facts contained in this prospectus,
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 &#x201C;may,&#x201D; &#x201C;will,&#x201D;
&#x201C;should,&#x201D; &#x201C;forecast,&#x201D; &#x201C;could,&#x201D;
&#x201C;expect,&#x201D; &#x201C;suggest,&#x201D; &#x201C;believe,&#x201D;
&#x201C;estimate,&#x201D; &#x201C;continue,&#x201D;
&#x201C;anticipate,&#x201D; &#x201C;intend,&#x201D; &#x201C;plan,&#x201D;
or similar words, or the negatives of such terms or other
variations on such terms or comparable
terminology.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">These forward-looking statements are subject to
a number of risks, uncertainties and assumptions, including without
limitation the risks described in &#x201C;Risk Factors&#x201D; in
this prospectus and the documents incorporated by reference herein.
These risks are not exhaustive. Moreover, we operate in a very
competitive and rapidly changing environment. New risk factors
emerge from time to time and it is not possible for our management
to predict all risk factors, nor can we assess the impact of all
factors on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.
You should not rely upon forward-looking statements as predictions
of future events. We cannot assure you that the events and
circumstances reflected in the forward-looking statements will be
achieved or occur and actual results could differ materially from
those projected in the forward-looking statements. We assume no
obligation to update or supplement forward-looking statements,
except as may be required under applicable law.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">8</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;"><a name="a_006">&#xA0;</a><a name="USE">U</a>SE OF
PROCEEDS</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">All of the shares of Common Stock offered by the
Selling Stockholders pursuant to this prospectus will be sold by
the Selling Stockholders for its own account. We will not receive
any of the proceeds from these sales.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We will receive up to an aggregate of
approximately $12.5 million from the exercise of the PIPE Warrants,
assuming the exercise in full of all of the PIPE Warrants for cash.
We expect to use the net proceeds from the exercise of the PIPE
Warrants for general corporate purposes.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"></font>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;"><a name="a_008">&#xA0;</a><a name="DES">D</a>ESCRIPTION OF
SECURITIES</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-style: italic; font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-style: italic; font-size: 13px;">The following summary of the
material terms of our securities is not intended to be a complete
summary of the rights and preferences of such securities. We urge
you to read our certificate of incorporation in its entirety for a
complete description of the rights and preferences of our
securities.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">General</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We are authorized to issue up to 100,000,000
shares of Common Stock, $0.0001 par value per share, and 50,000,000
shares of preferred stock, $0.0001 par value per
share.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Excluding the Series F Preferred Stock, as of
December 1, 2019, a total of 20,733,052 shares of our Common Stock
were issued and outstanding, 400,000 shares of our Series D
Preferred Stock were issued and outstanding and 9,805,845 shares of
our Series G Preferred Stock were issued and outstanding. There
were no shares of our Series A Preferred Stock, Series B Preferred
Stock, Series C Preferred Stock, or Series E Preferred Stock issued
or outstanding.</font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px">&#xA0;
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Common
Stock</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The holders of our Common Stock are entitled to
one vote per share. Our Certificate of Incorporation does not
expressly prohibit cumulative voting. The holders of our Common
Stock are entitled to receive ratably such dividends, if any, as
may be declared by the Board of Directors out of legally available
funds. Upon liquidation, dissolution or winding-up, the holders of
our Common Stock are entitled to share ratably in all assets that
are legally available for distribution. The holders of our Common
Stock have no preemptive, subscription, redemption or conversion
rights.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The rights, preferences and privileges of
holders of our Common Stock are subject to, and may be adversely
affected by, the rights of the holders of any series of preferred
stock, which may be designated solely by action of the Board of
Directors and issued in the future.</font></font></div>
<font style="font-family: Symbol;"></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

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<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">9</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font><font style="font-family: Symbol;">&#xA0;</font> </div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Outstanding Preferred
Stock</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Our Certificate of Incorporation provides our
Board of Directors with the authority to divide the preferred stock
into series and to fix and determine the rights and preferences of
the shares of any series of preferred stock established to the full
extent permitted by the laws of the State of Delaware and the
Certificate of Incorporation. Our preferred stock consists of the
following (excluding the Series F Preferred
Stock):</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">We previously
designated 10,000 shares as Series A Preferred Stock. No shares of
Series A Preferred Stock are outstanding as of December 1,
2019.</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">We previously
designated 3,216 shares as Series B Preferred Stock. No shares of
Series B Preferred Stock are outstanding as of December 1,
2019.</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">We previously
designated 8,342,993 shares as Series C Preferred Stock. No shares
of Series C Preferred Stock are outstanding as of December 1,
2019.</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">We previously
designated 400,000 shares as Series D Preferred Stock. 400,000
shares of Series D Preferred Stock are outstanding as of December
1, 2019.</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">We previously
designated 2,751,148 shares as Series E Preferred Stock. No shares
of Series E Preferred Stock are outstanding as of December 1,
2019.</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">We previously
designated 9,805,845 shares as Series G Preferred Stock 9,805,845
shares of Series G Preferred Stock are outstanding as of December
1, 2019.</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-weight: bold; color: rgb(0, 0, 0); font-size: 13px;">Description
of the Series F Preferred Stock</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Conversion</font><font style="color: #000000">. Prior to Stockholder Approval (as defined
below), the Series F Preferred Stock is non-convertible. Following
Stockholder Approval, each share of Series F Preferred Stock will
be convertible at any time at the holder&#x2019;s option into shares
of Common Stock, which conversion ratio will be subject to
adjustment for stock splits, stock dividends, distributions,
subdivisions and combinations. Notwithstanding the foregoing, the
certificate of designation further provides that we shall not
effect any conversion ofthe Series F Preferred Stock, with certain
exceptions, to the extent that, after giving effect to an attempted
conversion, the holder (together with its affiliates, and any
persons acting as a group together with the holder or any of its
affiliates) would beneficially own a number of shares of Common
Stock in excess of 9.99%, or 40% (only with respect to</font>
Armistice Master Capital Fund Ltd.<font style="color: #000000">) of
the shares of Common Stock then outstanding after giving effect to
such exercise.</font></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 0); font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Fundamental
Transaction</font><font style="color: #000000">. In the event we
consummate a merger or consolidation with or into another person or
other reorganization event in which our Common Stock is converted
or exchanged for securities, cash, or other property, or we sell,
lease, license, assign, transfer, convey or otherwise dispose of
all or substantially all of our assets or we or another person
acquires 50% or more of our outstanding shares of Common Stock,
then following such event, the holders of the Series F Preferred
Stock will be entitled to receive upon conversion of such Series F
Preferred Stock the same kind and amount of securities, cash, or
property which the holders would have received had they converted
their Series F Preferred Stock immediately prior to such
fundamental transaction. Any successor to us or surviving entity
shall assume the obligations under the Series F Preferred
Stock.</font></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Liquidation
Preference</font><font style="color: #000000">. In the event of a
liquidation, the holders of Series F Preferred Stock will be
entitled to participate on an as-converted-to-common-stock basis
with holders of our Common Stock in any distribution of our assets
to the holders of the Common Stock.</font></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Voting
Rights</font><font style="color: #000000">. With certain
exceptions, as described in the certificate of designation, the
Series F Preferred Stock will have no voting rights. However, as
long as any shares of Series F Preferred Stock remain outstanding,
the certificate of designation provides that we shall not, without
the affirmative vote of holders of a majority of the
then-outstanding shares of Series F Preferred Stock: (a) alter or
change adversely the powers, preferences or rights given to the
Series F Preferred Stock or alter or amend the certificate of
designation; (b) amend our certificate of incorporation or other
charter documents in any manner that adversely affects any rights
of the holders; (c) increase the number of authorized shares of
Series F Preferred Stock; or (d) enter into any agreement with
respect to any of the foregoing.</font></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Dividends</font><font style="color: #000000">. The certificate of designation provides, among
other things, that we shall not pay any dividends on shares of
Common Stock (other than dividends in the form of our Common Stock)
unless and until such time as it pays dividends on each share of
Series F Preferred Stock on an as-converted basis. Other than as
set forth in the previous sentence, the certificate of designation
provides that no other dividends shall be paid on shares of Series
F Preferred Stock and that we shall pay no dividends (other than
dividends in the form of our Common Stock) on shares of Common
Stock unless we simultaneously comply with the previous
sentence.</font></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Exchange
Listing.</font><font style="color: #000000">&#xA0;The Series F
Preferred Stock is not listed on any securities exchange or other
trading system.</font></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 0); font-size: 13px;">&#xA0;</font></font><font style="font-family: Symbol;"></font><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font>
</div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">10</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Outstanding
Warrants</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">As of December 1, 2019, we had outstanding
warrants to purchase an aggregate of 16,459,663 shares of our
Common Stock, consisting of (excluding the PIPE
Warrants):</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 35 shares of our Common Stock that were issued in February
2016 to the placement agents in our private placement of
convertible notes that we conducted in July and August 2015. These
placement agents&#x2019; warrants have a term of five years from the
date of issuance of the related notes in July and August 2015, have
an exercise price of $3,120.00, and provide for cashless
exercise;</font></font></div>
</div>
</div>

<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 22 shares of our Common Stock that were issued in February
2016 to the placement agents in our private placement of
convertible notes that we conducted in July and August 2015. These
placement agents&#x2019; warrants have a term of five years from the
date of issuance of the related notes in July and August 2015, have
an exercise price of $300.00, and provide for cashless
exercise;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 58 shares of our Common Stock that were issued in May 2016
to the placement agents in our private placement of convertible
notes that we conducted in July and August 2015. These placement
agents&#x2019; warrants have a term of five years from the date of
issuance of the related notes in July and August 2015, have an
exercise price of $1,920.00, and provide for cashless
exercise;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 1,361 shares of our Common Stock that were issued in the
public offering of Common Stock and warrants we completed on May 6,
2016. These warrants are exercisable for five years from issuance
and have an exercise price equal to $2,400.00;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 767 shares of our Common Stock that were issued upon the
closing of our public offering on May 5, 2016. These warrants are
exercisable for five years from issuance and have an exercise price
equal to $2,400.00;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
279 shares of Common Stock issued to the underwriters of our public
offering. These warrants are exercisable beginning May 2, 2017
until May 2, 2021 and have an exercise price equal to
$300.00;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants with
a release to purchase 221 shares of Common Stock issued to the
Luoxis stockholders. These warrants expire on July 7, 2021 and have
an exercise price equal to $1,600.00;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 10,548 shares of our Common Stock that were issued upon
the closing of our public offering on November 2, 2016. These
warrants are exercisable for five years from issuance and have an
exercise price equal to $744.00;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 1,009 shares of Common Stock issued to the underwriters of
our November public offering. These warrants are exercisable
beginning October 27, 2016 until October 27, 2021 and have an
exercise price equal to $300.00;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 221,006 shares of our Common Stock that were issued in the
public offering of Common Stock, preferred stock and warrants we
completed on August 15, 2017. These warrants are exercisable for
five years from issuance and have an exercise price equal to
$72.00;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 19,749 shares of our Common Stock that were issued in
August 2017 to the placement agents in our public offering of
Common Stock, preferred stock and warrants we completed on August
15, 2017. These placement agents&#x2019; warrants have a term of
five years from August 25, 2017, and have an exercise price of
$72.00, and provide for cashless exercise;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 1,527,606 shares of our Common Stock that were issued in
the public offering of Common Stock, preferred stock and warrants
we completed on March 6, 2018. These warrants are exercisable for
five years from issuance and have an exercise price equal to
$10.80;</font></font></div>
</div>
</div>

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<div style="display: table-row">
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<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 100,000 shares of our Common Stock were issued on March
23, 2018. These warrants are exercisable for five years from
issuance and have an exercise price equal to
$10.80;</font></font></div>
</div>
</div>
&#xA0; <font style="font-family: Symbol; font-size: 13px;"><br>
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<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 10,423,600 shares of our Common Stock were issued on
October 9, 2018, of which 10,173,593 are issued and outstanding.
These warrants are exercisable for five years from issuance and
have an exercise price equal to $1.50; and</font></font></div>
</div>
</div>

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<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">Warrants to
purchase 4,403,409 shares of our Common Stock were issued on April
18, 2019. These warrants are exercisable for five years from
issuance and have an exercise price equal to
$1.00.</font></font></div>
</div>
</div>

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<font style="font-family: Symbol;"><font style="font-weight: bold; color: rgb(0, 0, 0); font-size: 13px;">Description
of the PIPE Warrants</font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">General</font><font style="color: #000000">. The PIPE Warrants entitle each Selling
Stockholder to purchase 5,000,000 shares of Common Stock at an
exercise price of $1.25 per share, subject to adjustment as
discussed below. The PIPE Warrants will expire on the five-year
anniversary from the date this Registration Statement is declared
effective by the SEC.</font></font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Exercise</font><font style="color: #000000">. Prior to Stockholder Approval, the PIPE Warrants
are not exercisable. Following Stockholder Approval, the PIPE
Warrants may be exercised by providing an executed notice of
exercise form followed by full payment of the exercise price or on
a cashless basis, if applicable. The Selling Stockholders do not
have the rights or privileges of holders of Common Stock or any
voting rights with respect to the shares of Common Stock
represented by the PIPE Warrants until such Selling Stockholder
exercises the PIPE Warrant and receives its shares of Common Stock.
After the issuance of shares of Common Stock upon exercise of the
PIPE Warrants, the Selling Stockholders will be entitled to one
vote for each share held of record on all matters to be voted on by
stockholders generally.</font></font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Beneficial Ownership
Limitation</font><font style="color: #000000">. Each Selling
Stockholder will be subject to a requirement that they will not
have the right to exercise the PIPE Warrants to the extent that,
after giving effect to such exercise, such Selling Stockholder
(together with its affiliates) would beneficially own in excess of
9.99% or 40% (only with respect to</font> Armistice Capital Master
Fund Ltd.<font style="color: #000000">) of the shares of Common
Stock of the Company outstanding immediately after giving effect to
such exercise.</font></font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Anti-Dilution
Protection</font><font style="color: #000000">. If the number of
outstanding shares of Common Stock: (i) is increased by a stock
dividend payable in shares of Common Stock; (ii) is increased by a
split-up of shares of Common Stock; (iii) is decreased by a
combination of outstanding shares of Common Stock; or (iv) is
reclassified by the issuance of any shares of Common Stock of the
Company then, on the effective date of such event, the exercise
price of the PIPE Warrant will be multiplied by a fraction of which
the numerator is (x) the number of shares of Common Stock
outstanding immediately prior to such event and the denominator is
(y) the number of shares of Common Stock outstanding immediately
after such event, and the number of shares of Common Stock issuable
upon exercise of the PIPE Warrant will be proportionately adjusted
such that the aggregate exercise price will remain unchanged. Such
adjustment will be effective immediately after the record date for
the determination of stockholders entitled to receive such dividend
or distribution and will be effective immediately after the
effective date in the case of a subdivision, combination or
re-classification.</font></font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 0); font-size: 13px;">In addition, if the
Company, at any time while the PIPE Warrants are outstanding and
unexpired, grants, issues or sells any: (i) securities of the
Company or its subsidiaries which would entitle the holder thereof
to acquire at any time Common Stock, including, without limitation,
any debt, preferred stock, right, option, warrant or other
instrument that is at any time convertible into or exercisable or
exchangeable for, or otherwise entitles the holder thereof to
receive, Common Stock; or (ii) rights to purchase stock, warrants,
securities or other property pro rata to the record holders of any
class of shares of Common Stock (the &#x201C;Purchase
Rights&#x201D;), then the Selling Stockholders will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the
aggregate Purchase Rights which it could have acquired if it had
held the number of shares of Common Stock acquirable upon complete
exercise of the PIPE Warrants immediately before the date on which
a record is taken or the record holders are determined for the
grant, issuance or sale of such Purchase
Rights.</font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 0); font-size: 13px;">If the Company, at any time
while the PIPE Warrants are outstanding and unexpired, declares or
makes any dividend or other distribution of assets to holders of
Common Stock, by way of return of capital or otherwise, at any time
after the issuance of the PIPE Warrants, then the Selling
Stockholders shall be entitled to participate in such distribution
to the same extent that it would have participated therein had it
held the number of shares of Common Stock acquirable upon complete
exercise of the PIPE Warrant immediately before the date of which a
record is taken or the record holders are determined for such
distribution.</font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Fundamental
Transaction</font><font style="color: #000000">. In the event of a
&#x201C;fundamental transaction&#x201D; then, upon a subsequent
exercise of the PIPE Warrants, the Selling Stockholders will have
the right to purchase and receive the same kind and amount of
consideration receivable by the stockholders of the Company in such
fundamental transaction. The Company will cause the surviving
company in a fundamental transaction to assume the obligations of
the Company under the PIPE Warrants. For purposes of the PIPE
Warrants, a &#x201C;fundamental transaction&#x201D; includes, subject
to certain exceptions: (i) any reclassification, reorganization or
recapitalization of the Common Stock of the Company; (ii) any
merger or consolidation of the Company with or into another
corporation; (iii) any sale, lease, license, assignment, transfer,
conveyance or other disposition of all or substantially all of the
Company&#x2019;s assets in one or more transactions; (iv) any,
direct or indirect, purchase offer, tender offer or exchange offer
is completed pursuant to which stockholders are permitted to sell,
tender or exchange their shares for other securities, cash or
property and has been accepted by the holders of 50% or more of the
outstanding Common Stock of the Company; or (v) the Company,
directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business
combination with another person whereby such other person acquires
more than 50% of the outstanding shares of Common Stock of the
Company.</font></font></font></div>

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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; color: #000000">Amendments</font><font style="color: #000000">. The PIPE Warrants provide that the terms of the
PIPE Warrants may be amended only in writing signed by the Company
and such Selling Stockholder.</font></font></font></div>

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<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font><font style="font-family: Symbol;">&#xA0;</font> </div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Outstanding
Options</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">On June 1, 2015, our stockholders approved the
2015 Stock Option and Incentive Plan, which provides for the award
of stock options, stock appreciation rights, restricted stock and
other equity awards for up to an aggregate of 3,000,000 million
shares of Common Stock. The shares of Common Stock underlying any
awards that are forfeited, canceled, reacquired by us prior to
vesting, satisfied without any issuance of stock, expire or are
otherwise terminated (other than by exercise) under the 2015 Plan
will be added back to the shares of Common Stock available for
issuance under the 2015 Plan.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">As of December 1, 2019, we had outstanding
options to purchase an aggregate of 1,482 shares of our Common
Stock at a weighted average exercise price of $325.54 per share. Of
these, an aggregate of 1,482 are exercisable.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The 2015 Plan is administered by our Board or a
committee designated by the Board (as applicable, the
Administrator). The Administrator has full power to select, from
among the individuals eligible for awards, the individuals to whom
awards will be granted, to make any combination of awards to
participants, and to determine the specific terms and conditions of
each award, subject to the provisions of the 2015 Plan. The
Administrator may delegate to our Chief Executive Officer the
authority to grant stock options and other awards to employees who
are not subject to the reporting and other provisions of Section 16
of the Exchange Act and not subject to Section 162(m) of the Code,
subject to certain limitations and guidelines.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Persons eligible to participate in the 2015 Plan
are full or part-time officers, employees, non-employee directors,
directors and other key persons (including consultants and
prospective officers) of our company and its subsidiaries as
selected from time to time by the Administrator in its discretion.
Approximately 35 individuals are currently eligible to participate
in the 2015 Plan, which includes officers, employees who are not
officers, non-employee director, former employees and other
individuals who are primarily consultants.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The 2015 Plan provides that upon the
effectiveness of a &#x201C;sale event&#x201D; as defined in the 2015
Plan, except as otherwise provided by the Administrator in the
award agreement, all stock options, stock appreciation rights and
other awards will be assumed or continued by the successor entity
and adjusted accordingly to take into account the impact of the
transaction. To the extent, however, that the parties to such sale
event do not agree that all stock options, stock appreciation
rights or any other awards shall be assumed or continued, then such
stock options and stock appreciation rights shall become fully
exercisable and the restrictions and conditions on all such other
awards with time-based conditions will automatically be deemed
waived. Awards with conditions and restrictions relating to the
attainment of performance goals may become vested and
non-forfeitable in connection with a sale event in the
Administrator&#x2019;s discretion. In addition, in the case of a
sale event in which our stockholders will receive cash
consideration, we may make or provide for a cash payment to
participants holding options and stock appreciation rights equal to
the difference between the per share cash consideration and the
exercise price of the options or stock appreciation rights in
exchange for the cancellation thereto.</font></font></div>

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</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Quotation on the NASDAQ
Capital Market</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Our Common Stock is quoted on the NASDAQ Capital
Market under the symbol &#x201C;AYTU&#x201D;. We have two series of
warrants quoted on the OTCQB under the symbols &#x201C;AYTUW&#x201D;
and &#x201C;AYTUZ&#x201D;.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Transfer
Agent</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The transfer agent of our Common Stock is Issuer
Direct Corporation. Their address is 500 Perimeter Park Drive,
Suite D, Morrisville, NC 27560.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Delaware Anti-Takeover Law
and Provisions of Our Certificate of Incorporation and
Bylaws</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic">Delaware
Anti-Takeover Law.</font>&#xA0;We are subject to Section 203 of the
Delaware General Corporation Law. Section 203 generally prohibits a
public Delaware corporation from engaging in a &#x201C;business
combination&#x201D; with an &#x201C;interested stockholder&#x201D; for
a period of three years after the date of the transaction in which
the person became an interested stockholder,
unless:</font></font></div>
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<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">prior to the
date of the transaction, the board of directors of the corporation
approved either the business combination or the transaction which
resulted in the stockholder becoming an interested
stockholder;</font></font></div>
</div>
</div>
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</div>

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<div style="display: table-row">
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<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">upon
consummation of the transaction that resulted in the stockholder
becoming an interested stockholder, the interested stockholder
owned at least 85% of the voting stock of the corporation
outstanding at the time the transaction commenced, excluding
specified shares; or</font></font></div>
</div>
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<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">at or
subsequent to the date of the transaction, the business combination
is approved by the board of directors and authorized at an annual
or special meeting of stockholders, and not by written consent, by
the affirmative vote of at least 66 2/3% of the outstanding voting
stock which is not owned by the interested
stockholder.</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Section 203 defines a &#x201C;business
combination&#x201D; to include:</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">any merger or
consolidation involving the corporation and the interested
stockholder;</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">any sale,
lease, exchange, mortgage, pledge, transfer or other disposition of
10% or more of the assets of the corporation to or with the
interested stockholder;</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">subject to
exceptions, any transaction that results in the issuance or
transfer by the corporation of any stock of the corporation to the
interested stockholder;</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">subject to
exceptions, any transaction involving the corporation that has the
effect of increasing the proportionate share of the stock of any
class or series of the corporation beneficially owned by the
interested stockholder; or</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">the receipt
by the interested stockholder of the benefit of any loans,
advances, guarantees, pledges or other financial benefits provided
by or through the corporation.</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;">&#xA0;</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">In general, Section 203 defines an
&#x201C;interested stockholder&#x201D; as any person that
is:</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">the owner of
15% or more of the outstanding voting stock of the
corporation;</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">an affiliate
or associate of the corporation who was the owner of 15% or more of
the outstanding voting stock of the corporation at any time within
three years immediately prior to the relevant date;
or</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">the
affiliates and associates of the above.</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Under specific circumstances, Section 203 makes
it more difficult for an &#x201C;interested stockholder&#x201D; to
effect various business combinations with a corporation for a
three-year period, although the stockholders may, by adopting an
amendment to the corporation&#x2019;s certificate of incorporation
or bylaws, elect not to be governed by this section, effective 12
months after adoption.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Our certificate of incorporation and bylaws do
not exclude us from the restrictions of Section 203. We anticipate
that the provisions of Section 203 might encourage companies
interested in acquiring us to negotiate in advance with our board
of directors since the stockholder approval requirement would be
avoided if a majority of the directors then in office approve
either the business combination or the transaction that resulted in
the stockholder becoming an interested
stockholder.<br></font></font></div>

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<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">14</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic">Certificate of
Incorporation and Bylaw.&#xA0;</font>Provisions of our certificate
of incorporation and bylaws may delay or discourage transactions
involving an actual or potential change of control or change in our
management, including transactions in which stockholders might
otherwise receive a premium for their shares, or transactions that
our stockholders might otherwise deem to be in their best
interests. Therefore, these provisions could adversely affect the
price of our Common Stock. Among other things, these provisions
include:</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">the
authorization of 50,000,000 shares of &#x201C;blank check&#x201D;
preferred stock, the rights, preferences and privileges of which
may be established and shares of which may be issued by our Board
of Directors at its discretion from time to time and without
stockholder approval;</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">limiting the
removal of directors by the stockholders;</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">allowing for
the creation of a staggered board of directors;</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">eliminating
the ability of stockholders to call a special meeting of
stockholders; and</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 24px">
<div style="display: table-row"><br></div>
</div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">establishing
advance notice requirements for nominations for election to the
board of directors or for proposing matters that can be acted upon
at stockholder meetings.</font></font></div>
</div>
</div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

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<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">15</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: -48px">
<font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">PRIVATE
PLACEMENT</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">On October 11, 2019, the Company entered into
Securities Purchase Agreements (the &#x201C;Purchase
Agreements&#x201D;) with the Selling Stockholders providing for the
issuance and sale by the Company (the &#x201C;Offering&#x201D;) of
$10,000,000 worth of: (i) shares of the Series F Preferred Stock
which are convertible into shares of Common Stock (the
&#x201C;Conversion Shares&#x201D;); and (ii) the PIPE Warrants
exercisable for shares of Common Stock (the &#x201C;Warrant
Shares&#x201D;) having an exercise price equal to $1.25 and
containing a cashless exercise provision. The closing of the
Offering occurred on October 16, 2019. The Series F Preferred Stock
and PIPE Warrants were issued under the Securities Act in reliance
on the exemptions provided by Section 4(a)(2) and/or Regulation D
promulgated thereunder and in reliance on similar exemptions under
applicable state laws. <font style="color: #000000">Accordingly,
the Selling Stockholders may exercise the PIPE Warrants and sell
the underlying Warrant Shares only pursuant to an effective
registration statement under the Securities Act covering the resale
of those Warrant Shares, an exemption under Rule 144 under the
Securities Act, or another applicable exemption under the
Securities Act.</font></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
In connection with the Offering, we entered into a Registration
Rights Agreement in which we agreed to file with the SEC, on or
prior to ninety days from October 11, 2019, a registration
statement covering the resale by the Selling Stockholders of the
Conversion Shares and the Warrant Shares. We have also agreed to
use our reasonable best efforts to have the registration statement
declared effective by the SEC by the one hundred- and twentieth-day
following October 11, 2019 (or the one hundred- and fiftieth-day
following October 11, 2019, in the event of a full review by the
SEC). Upon receipt of Stockholder Approval, each PIPE Warrant will
be exercisable and will expire five years from the time this
Registration Statement covering the Conversion Shares and Warrant
Shares is declared effective by the SEC.</font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">The Series F Preferred Stock and PIPE Warrants
are exercisable only after we obtain stockholder approval as
required by Nasdaq Marketplace Rule 5635(d) (the &#x201C;Stockholder
Approval&#x201D;). <font style="color: #000000">Nasdaq Marketplace
Rule 5635(d) requires stockholder approval in connection with a
transaction other than a public offering involving the sale,
issuance, or potential issuance by the issuer of common stock (or
securities convertible into or exercisable for common stock) equal
to 20% or more of the common stock or 20% or more of the voting
power outstanding before the issuance for a price that is less than
the lower of: (i) the closing price (as reflected on Nasdaq.com)
immediately preceding the signing of the binding agreement; or (ii)
the average closing price of the common stock (as reflected on
Nasdaq.com) for the five trading days immediately preceding the
signing of the binding agreement. As described above, the Series F
Preferred Stock and the PIPE Warrants are not convertible or
exercisable into shares of common stock until Stockholder Approval
is received. We have filed a preliminary proxy statement with the
SEC on November 4, 2019 as amended on November 21, 2019 (File No.
001-38247).</font></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">If we
obtain Stockholder Approval, and subject to certain ownership
limitation described below, the Series F Preferred Stock shall be
convertible <font style="color: #000000">at any time at the option
of the holder into Conversion Shares at a price of $1.00 per
share.</font> <font style="color: #000000">The conversion price is
subject to adjustment in the case of stock splits, stock dividends,
combinations of shares and similar recapitalization
transactions.&#xA0;In addition, the Series F Preferred Stock will
be subject to anti-dilution provisions until such time that is the
earlier of, (i) the two-year anniversary date of the original
issuance date; and (ii) when 85% of the Series F Preferred Stock
has been converted.</font></font></div>

<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 11px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">16</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 11px;">&#xA0;</font></font></div>
</div>
</div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;"><a name="a_009">&#xA0;</a><a name="SEL">S</a>ELLING
STOCKHOLDERS</font></font></font></div>

<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">The Common Stock
being offered by the Selling Stockholders are those previously
issued to the Selling Stockholders, and those issuable to the
Selling Stockholders, upon exercise of the warrants. We are
registering the shares of common stock in order to permit the
Selling Stockholders to offer the shares for resale from time to
time. For additional information regarding the issuance of those
shares of common stock and PIPE Warrants see &#x201C;Private
Placement&#x201D; above. Except as disclosed in the footnotes, the
Selling Stockholders have not had any material relationship with us
within the past three years.</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">The table below
lists the Selling Stockholders and other information regarding the
beneficial ownership of the shares of common stock by each of the
Selling Stockholders. The second column lists the number of shares
of common stock beneficially owned by each Selling Stockholder,
based on its ownership of the shares of Common Stock and warrants,
as of December 1, 2019, assuming exercise of the PIPE Warrants and
the conversion of the Series F Preerred Stock held by the Selling
Stockholders on that date, without regard to any limitations on
exercises.</font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The third column lists the shares of Common
Stock being offered by this prospectus by the Selling
Stockholders.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">In accordance with the terms of a registration
rights agreement with the Selling Stockholders, this prospectus
generally covers the resale of the sum of&#xA0;&#xA0;the maximum
number of shares of Common Stock issuable upon the conversion of
the Series F Preferred Stock and the exercise of the&#xA0; PIPE
Warrants, determined as if the outstanding Series F Preferred Stock
and PIPE Warrants were converted or exercised in full, as
applicable, as of the trading day immediately preceding the date
this registration statement was initially filed with the SEC, each
as of the trading day immediately preceding the applicable date of
determination and all subject to adjustment as provided in the
registration right agreement, without regard to any limitations on
the conversion of the Series F Preferred Stock or the exercise of
the PIPE Warrants.<font style="font-weight: bold">&#xA0;</font>The
fourth column assumes the sale of all of the shares offered by the
Selling Stockholders pursuant to this
prospectus.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Under the terms of the Series F Preferred Stock
and the PIPE Warrants, a selling stockholder may not convert the
Series F Preferred Stock or exercise the PIPE Warrants to the
extent such exercise would cause such selling stockholder, together
with its affiliates and attribution parties, to beneficially own a
number of shares of Common Stock which would exceed 9.99% or 40%
(only with respect to Armistice Capital Master Fund Ltd.) of our
then outstanding Common Stock following such exercise, excluding
for purposes of such determination shares of Common Stock issuable
upon the conversion of the Series F Preferred Stock and the
exercise of the PIPE Warrants which have not been exercised. The
number of shares in the second column does not reflect this
limitation. The Selling Stockholders may sell all, some or none of
their shares in this offering. See "Plan of
Distribution."</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-family:inherit;margin-right:0px;margin-left:0px;width:100%;font-size:inherit;">
<tr>
<td rowspan="1" style="vertical-align:bottom;width:64%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="font-family: Symbol"><font style="font-weight: bold; font-size: 11px">Name of Selling
Stockholder</font></font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-size: 11px;">
<div><font style="font-weight:bold;">Number of shares of Common
Stock Owned Prior to Offering</font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-size: 11px;">
<div><font style="font-weight:bold;">Maximum Number of shares of
Common Stock to be Sold Pursuant to this Prospectus</font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-size: 11px;">
<div><font style="font-weight:bold;">Number of shares of Common
Stock Owned After Offering</font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-size: 11px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:64%;">
<div style="margin-left:0px;"><font style="font-family: Symbol"><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 13px">Armistice Capital
Master Fund Ltd.</font> (&#x2650;)</font></font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Symbol;display:inline-block;">26,504,008</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;"><br></font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Symbol;display:inline-block;">10,000,000</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Symbol;display:inline-block;">16,504,008</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;"><br></font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:64%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="font-family: Symbol"><font style="font-size: 13px">Altium Capital Management, LP</font></font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:5%;border-bottom:solid 2px black;">&#xA0;</font><font style="text-align: right; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:solid 2px black;">10,000,000<br></font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:5%;border-bottom:solid 2px black;">&#xA0;</font><font style="text-align: right; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:solid 2px black;">10,000,000</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: right; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:solid 2px black;">&#x2014;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:64%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:4px;margin-left:0px;"><font style="font-family: Symbol"><font style="font-size: 13px">Total</font></font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: right; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:double 4px black;">36,504,008</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;"><br></font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:5%;border-bottom:double 4px black;">&#xA0;</font><font style="text-align: right; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:double 4px black;">20,000,000</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: right; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:double 4px black;">16,504,008</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;"><br></font></div>
</td>
</tr></table>
</div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;(&#x2650;) &#x2013;&#xA0; <font style="font-family: Times New Roman; font-size: 13px">Armistice Capital
Master Fund Ltd.</font> entered into an agreement between Aytu
limiting at any given time the ability of&#xA0; <font style="font-family: Times New Roman; font-size: 13px">Armistice Capital
Master Fund Ltd.</font> to own more than 40% of the outstanding
common stock.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">________________________________<br>
</font></div>
<div style="display: table;">
<div style="display: table-row;">
<div style="text-align: left; display: table-cell; width: 12px;">
<font style="font-size: 70%; vertical-align: top"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 70%; vertical-align: top">1</font></font></font></div>
<div style="text-align: justify; display: table-cell; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-size: 70%; vertical-align: top"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-family: Times New Roman; font-size: 13px">Steven J. Boyd is
the Chief Investment Officer and Founder of Armistice Capital, LLC,
the investment manager of Armistice Capital Master Fund Ltd.
Armistice Capital Master fund Ltd. is one of the Selling
Stockholders and Mr. Boyd is a member of our board of directors.
Each of Armistice Capital, LLC and Mr. Boyd disclaims beneficial
ownership over the listed securities except to the extent of their
pecuniary interest therein.</font></font></font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;"><br></font></div>

<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">17</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><br></font></div>

<div style="text-align: center; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;"><a name="PLA">P</a>LAN OF DISTRIBUTION</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><a name="a_011">&#xA0;</a><br></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Each Selling Stockholder of the securities and
any of their pledgees, assignees and successors-in-interest may,
from time to time, sell any or all of their securities covered
hereby on the principal Trading Market or any other stock exchange,
market or trading facility on which the securities are traded or in
private transactions. These sales may be at fixed or negotiated
prices. A Selling Stockholder may use any one or more of the
following methods when selling securities:</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">ordinary
brokerage transactions and transactions in which the broker-dealer
solicits purchasers;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">block trades
in which the broker-dealer will attempt to sell the securities as
agent but may position and resell a portion of the block as
principal to facilitate the transaction;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">purchases by
a broker-dealer as principal and resale by the broker-dealer for
its account;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">an exchange
distribution in accordance with the rules of the applicable
exchange;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">privately
negotiated transactions;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">settlement of
short sales;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">in
transactions through broker-dealers that agree with the Selling
Stockholders to sell a specified number of such securities at a
stipulated price per security;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">through the
writing or settlement of options or other hedging transactions,
whether through an options exchange or
otherwise;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">a combination
of any such methods of sale; or</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">any other
method permitted pursuant to applicable law.</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The Selling Stockholders may also sell
securities under Rule 144 or any other exemption from registration
under the Securities Act of 1933, as amended (the &#x201C;Securities
Act&#x201D;), if available, rather than under this
prospectus.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Broker-dealers engaged by the Selling
Stockholders may arrange for other brokers-dealers to participate
in sales. Broker-dealers may receive commissions or discounts from
the Selling Stockholders (or, if any broker-dealer acts as agent
for the purchaser of securities, from the purchaser) in amounts to
be negotiated, but, except as set forth in a supplement to this
Prospectus, in the case of an agency transaction not in excess of a
customary brokerage commission in compliance with FINRA Rule 2440;
and in the case of a principal transaction a markup or markdown in
compliance with FINRA IM-2440.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div id="pgbrk" style="text-align: left; width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">18</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">In connection with the sale of the securities or
interests therein, the Selling Stockholders may enter into hedging
transactions with broker-dealers or other financial institutions,
which may in turn engage in short sales of the securities in the
course of hedging the positions they assume. The Selling
Stockholders may also sell securities short and deliver these
securities to close out their short positions, or loan or pledge
the securities to broker-dealers that in turn may sell these
securities. The Selling Stockholders may also enter into option or
other transactions with broker-dealers or other financial
institutions or create one or more derivative securities which
require the delivery to such broker-dealer or other financial
institution of securities offered by this prospectus, which
securities such broker-dealer or other financial institution may
resell pursuant to this prospectus (as supplemented or amended to
reflect such transaction).</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;<br></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The Selling Stockholders and any broker-dealers
or agents that are involved in selling the securities may be deemed
to be &#x201C;underwriters&#x201D; within the meaning of the
Securities Act in connection with such sales. In such event, any
commissions received by such broker-dealers or agents and any
profit on the resale of the securities purchased by them may be
deemed to be underwriting commissions or discounts under the
Securities Act. Each Selling Stockholder has informed the Company
that it does not have any written or oral agreement or
understanding, directly or indirectly, with any person to
distribute the securities.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;<br></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The Company is required to pay certain fees and
expenses incurred by the Company incident to the registration of
the securities. The Company has agreed to indemnify the Selling
Stockholders against certain losses, claims, damages and
liabilities, including liabilities under the Securities
Act.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;<br></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We agreed to keep this prospectus effective
until the earlier of (i) the date on which the securities may be
resold by the Selling Stockholders without registration and without
regard to any volume or manner-of-sale limitations by reason of
Rule 144, without the requirement for the Company to be in
compliance with the current public information under Rule 144 under
the Securities Act or any other rule of similar effect or (ii) all
of the securities have been sold pursuant to this prospectus or
Rule 144 under the Securities Act or any other rule of similar
effect. The resale securities will be sold only through registered
or licensed brokers or dealers if required under applicable state
securities laws. In addition, in certain states, the resale
securities covered hereby may not be sold unless they have been
registered or qualified for sale in the applicable state or an
exemption from the registration or qualification requirement is
available and is complied with.</font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;<br></font></font></div>

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Under applicable rules and regulations under the
Exchange Act, any person engaged in the distribution of the resale
securities may not simultaneously engage in market making
activities with respect to the common stock for the applicable
restricted period, as defined in Regulation M, prior to the
commencement of the distribution. In addition, the Selling
Stockholders will be subject to applicable provisions of the
Exchange Act and the rules and regulations thereunder, including
Regulation M, which may limit the timing of purchases and sales of
the common stock by the Selling Stockholders or any other person.
We will make copies of this prospectus available to the Selling
Stockholders and have informed them of the need to deliver a copy
of this prospectus to each purchaser at or prior to the time of the
sale (including by compliance with Rule 172 under the Securities
Act).</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;"><a name="LEG">L</a>EGAL MATTERS</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The validity
of the securities covered by this prospectus has been passed upon
for us by Dorsey &amp; Whitney LLP, Salt Lake City,
Utah.</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;">&#xA0;</font></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;"><a name="a_012">
<!--EFPlaceholder--></a><a name="EXP">E</a>XPERTS</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The
consolidated financial statements of Aytu BioScience, Inc. at June
30, 2019 and 2018, and for each of the two years in the period
ended June 30, 2019 have been audited by Plante &amp; Moran, PLLC,
independent registered public accounting firm. Such financial
statements have been incorporated herein by reference in reliance
on the report of such firm given upon their authority as experts in
accounting and auditing.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div id="pgbrk" style="text-align: left; width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">19</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><a name="a_013">&#xA0;</a><br></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;"><a name="WHE">W</a>HERE YOU CAN FIND MORE
INFORMATION</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We file
annual, quarterly and other reports, proxy statements and other
information with the SEC. Our SEC filings are available to the
public over the Internet at the SEC&#x2019;s website at
http://www.sec.gov. Our Annual Report on Form&#xA0;10-K, Quarterly
Reports on Form&#xA0;10-Q, and Current Reports on Form&#xA0;8-K,
including any amendments to those reports, and other information
that we file with or furnish to the SEC pursuant to
Section&#xA0;13(a)&#xA0;or 15(d)&#xA0;of the Exchange Act can also
be accessed free of charge through the Internet. These filings will
be available as soon as reasonably practicable after we
electronically file such material with, or furnish it to, the SEC.
We also maintain a website at&#xA0;<font style="font-style: italic">http://www.aytubio.com</font>, at which you
may access these materials free of charge as soon as reasonably
practicable after they are electronically filed with, or furnished
to, the SEC. The information contained in, or that can be accessed
through, our website is not part of this
prospectus.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;&#xA0;</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;"><a name="a_014">&#xA0;</a><a name="DOC">D</a>OCUMENTS INCORPORATED
BY REFERENCE</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The SEC
allows us to &#x201C;incorporate by reference&#x201D; into this
prospectus the documents that we file with the SEC, which means
that we can disclose important information to you by referring you
to those documents. The information incorporated by reference is
considered to be part of this prospectus. We incorporate by
reference into this prospectus the following
documents:</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">our
Preliminary Proxy Statement filed with the SEC on November 4, 2019,
as amended on November 21, 2019;<br></font></font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"></font><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"></font>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">our Annual
Report on Form 10-K for the fiscal year ended June 30,
2019;</font></font></div>
<font style="font-family: Symbol;"></font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"></font><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
</div>
</div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">our Quarterly
Report on Form 10-Q for the quarters ended September 30,
2019;</font></font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row"><font style="font-family: Symbol;"></font><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
</div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">our Current
Reports on Form 8-K filed with the SEC on October 15, 2019,
November 4, 2019 (as amended), November 12, 2019, and November 26,
2019;<br></font></font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"></font><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
</div>
</div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">the
description of our Common Stock contained in our Registration
Statement on Form 8-A, as filed with the SEC on October 17, 2017,
including any amendment or report filed for the purpose of updating
such description; and</font></font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"></font><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
</div>
</div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">all documents
filed by us with the SEC pursuant to Section&#xA0;13(a), 13(c), 14
or 15(d) of the Exchange Act (Commission File Number 001-38247)
after the date of this prospectus and before the termination of the
offering contemplated hereby.</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We also
incorporate by reference any future filings (other than information
furnished under Items 2.02 or 7.01 of any Current Reports on Form
8-K and exhibits filed on such form that are related to such items
unless such Form 8-K expressly provides to the contrary) made with
the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the
Exchange Act after the date of the initial registration statement
and prior to effectiveness of the registration statement,
excluding, in each case, information deemed furnished and not
filed.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Any statement
contained in this prospectus, or in a document incorporated or
deemed to be incorporated by reference herein, shall be deemed to
be modified or superseded to the extent that a statement contained
herein, or in any subsequently filed document that also is
incorporated or deemed to be incorporated by reference herein,
modifies or supersedes such statement. Any statement so modified or
superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this
prospectus.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">You may
obtain copies of these documents, at no cost to you, from our
website (<font style="font-style: italic">www.aytubio.com</font>),
or by writing or telephoning us at the following
address:</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Aytu BioScience, Inc.</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">373 Inverness Parkway, Suite
206</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Englewood, CO 80112</font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Tel: (720) 437-6580</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div id="pgbrk" style="text-align: left; width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">20</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><img src="aytu_s3001.jpg"></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;">10,000,000 Shares of Common
Stock Issuable upon Exercise of PIPE
Warrants</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;">10,000,000 Shares of Common
Stock Issuable upon Conversion of Series F Convertible Preferred
Stock</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;,
2019</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div id="pgbrk" style="text-align: left; width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">21</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 2px; background-color: #000000"><!--page break--></div>
<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;">PART
II</font></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;">&#xA0;</font></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;">Information Not Required in
Prospectus</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Item 14.</font> <font style="font-weight: bold; font-size: 13px;">Other Expenses of Issuance
and Distribution.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">The following
table sets forth the costs and expenses payable in connection with
the offering of the securities being registered, all of which will
be paid by Aytu BioScience, Inc. All amounts are estimates except
the Securities and Exchange Commission (the &#x201C;SEC&#x201D;)
registration fee.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-family:inherit;margin-right:0px;margin-left:0px;width:100%;font-size:inherit;">
<tr>
<td rowspan="1" style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="font-family: Symbol"><font style="font-size: 11px">&#xA0;</font></font></div>
</td>
<td colspan="1" rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom:2px;width:10%;vertical-align:bottom;display:inline-block;">&#xA0;</font><font style="text-align: center; vertical-align:bottom;width:80%;border-bottom:solid 2px #000;display:inline-block;">
<div><font style="font-weight:bold;"><font style="font-size: 11px">Amount</font></font></div>
</font><font style="text-align: left; padding-bottom:2px;width:10%;vertical-align:bottom;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol"><font style="font-size: 13px">SEC registration fee</font></font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Symbol;display:inline-block;">$</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Symbol;display:inline-block;">1,998.92</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol"><font style="font-size: 13px">Printing and engraving
expenses</font></font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Symbol;display:inline-block;">--</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol"><font style="font-size: 13px">Legal fees and expenses</font></font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Symbol;display:inline-block;">10,000</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol"><font style="font-size: 13px">Accounting fees and expenses</font></font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Symbol;display:inline-block;">10,000</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol"><font style="font-size: 13px">Transfer agent and registrar fees and
expenses</font></font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Symbol;display:inline-block;">5,000</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Symbol;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol"><font style="font-size: 13px">Miscellaneous</font></font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:5%;border-bottom:solid 2px #000;">&#xA0;</font><font style="text-align: right; font-family:Symbol;vertical-align:bottom;font-size:13px;display:inline-block;width:75%;border-bottom:solid 2px #000;">15,000</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:4px;margin-left:0px;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol"><font style="font-size: 13px">Total</font></font></div>
</div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; font-family:Symbol;border-bottom:double 4px black;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; font-family:Symbol;border-bottom:double 4px black;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">41,998.92</font><font style="text-align: left; font-family:Symbol;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
</tr></table>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Item 15.</font> <font style="font-weight: bold; font-size: 13px;">Indemnification of Directors
and Officers.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We are
incorporated under the laws of the State of Delaware. Section 145
of the Delaware General Corporation Law provides that a Delaware
corporation may indemnify any persons who are, or are threatened to
be made, parties to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of such
corporation), by reason of the fact that such person was an
officer, director, employee or agent of such corporation, or is or
was serving at the request of such person as an officer, director,
employee or agent of another corporation or enterprise. The
indemnity may include expenses (including attorneys&#x2019; fees),
judgments, fines and amounts paid in settlement actually and
reasonably incurred by such person in connection with such action,
suit or proceeding, provided that such person acted in good faith
and in a manner he reasonably believed to be in or not opposed to
the corporation&#x2019;s best interests and, with respect to any
criminal action or proceeding, had no reasonable cause to believe
that his conduct was illegal. A Delaware corporation may indemnify
any persons who are, or are threatened to be made, a party to any
threatened, pending or completed action or suit by or in the right
of the corporation by reason of the fact that such person was a
director, officer, employee or agent of such corporation, or is or
was serving at the request of such corporation as a director,
officer, employee or agent of another corporation or enterprise.
The indemnity may include expenses (including attorneys&#x2019;
fees) actually and reasonably incurred by such person in connection
with the defense or settlement of such action or suit provided such
person acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the corporation&#x2019;s best
interests except that no indemnification is permitted without
judicial approval if the officer or director is adjudged to be
liable to the corporation. Where an officer or director is
successful on the merits or otherwise in the defense of any action
referred to above, the corporation must indemnify him against the
expenses which such officer or director has actually and reasonably
incurred. Our certificate of incorporation and bylaws provide for
the indemnification of our directors and officers to the fullest
extent permitted under the Delaware General Corporation
Law.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Section
102(b)(7) of the Delaware General Corporation Law permits a
corporation to provide in its certificate of incorporation that a
director of the corporation shall not be personally liable to the
corporation or its stockholders for monetary damages for breach of
fiduciary duties as a director, except for liability for
any:</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">transaction
from which the director derives an improper personal
benefit;</font></font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"></font><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
</div>
</div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">act or
omission not in good faith or that involves intentional misconduct
or a knowing violation of law;</font></font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"></font><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
</div>
</div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">unlawful
payment of dividends or redemption of shares;
or</font></font></div>
</div>
</div>
<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"></font><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
</div>
</div>

<div style="text-align: left; display: table; margin-left: 24px">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#x25CF;</font></font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Symbol;"><font style="font-size: 13px;">breach of a
director&#x2019;s duty of loyalty to the corporation or its
stockholders.</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Our
certificate of incorporation includes such a provision. Expenses
incurred by any officer or director in defending any such action,
suit or proceeding in advance of its final disposition shall be
paid by us upon delivery to us of an undertaking, by or on behalf
of such director or officer, to repay all amounts so advanced if it
shall ultimately be determined that such director or officer is not
entitled to be indemnified by us.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div id="pgbrk" style="text-align: left; width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">22</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 2px; background-color: #000000"><!--page break--></div>
<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">As permitted by the Delaware General Corporation
Law, we have entered into indemnity agreements with each of our
directors and executive officers. These agreements, among other
things, require us to indemnify each director and officer to the
fullest extent permitted by law and advance expenses to each
indemnitee in connection with any proceeding in which
indemnification is available.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; font-weight: bold; font-size: 13px;">&#xA0;</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">We have an
insurance policy covering our officers and directors with respect
to certain liabilities, including liabilities arising under the
Securities Act of 1933, as amended, or the Securities Act, or
otherwise.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Item 16.</font> <font style="font-weight: bold; font-size: 13px;">Exhibits.&#xA0;<font style="font-size: 13px;"><a name="ref.dBD1"></a></font></font></font></div>
<font style="font-family: Symbol;"><br></font>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; width: 100%; font-size: 13px; margin: 0px auto 0px 0px;">
<tr>
<td style="vertical-align: bottom; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 11px"><font style="font-weight: bold;">Exhibit&#xA0;No.</font></font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 11px">&#xA0;</font></font></div>
</td>
<td style="vertical-align: bottom; width: 41%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 11px"><font style="font-weight: bold;">Description</font></font></font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 11px">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 11px"><font style="font-weight: bold;">Registrant&#x2019;s
Form</font></font></font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 11px">&#xA0;</font></font></div>
</td>
<td style="vertical-align: bottom; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 11px"><font style="font-weight: bold;">Date
Filed</font></font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 11px">&#xA0;</font></font></div>
</td>
<td style="vertical-align: bottom; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 11px"><font style="font-weight: bold;">Exhibit
Number</font></font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 11px">&#xA0;</font></font></div>
</td>
<td style="vertical-align: bottom; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 11px"><font style="font-weight: bold;">Filed
Herewith</font></font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000119312515217957/d939908dex31.htm">
<font style="color: #0000EE">Certificate of
Incorporation</font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">06/09/2015</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.2</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420416106487/v441568_ex3-1.htm">
<font style="color: #0000EE">Certificate of Amendment of
Certificate of Incorporation effective June 1,
2016</font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">06/02/2016</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.3</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420416111027/v443180_ex3-1.htm">
<font style="color: #0000EE">Certificate of Amendment of
Certificate of Incorporation, effective June 30,
2016</font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">07/01/2016</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.4</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420417043700/v473390_ex3-1.htm">
<font style="color: #0000EE">Certificate of Designation of
Preferences, Rights and Limitations of Series A Convertible
Preferred Stock, filed on August 11,
2017.</font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">08/16/2017</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.5</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420417045636/v474281_ex3-1.htm">
<font style="color: #0000EE">Certificate of Amendment of
Certificate of Incorporation, effective August 25,
2017</font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">08/29/2017</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.6</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;">Certificate of
Designation of Preferences, Rights and Limitations of Series B
Convertible Preferred Stock</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">S-1/A</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">02/27/2018</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.6</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.7</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018010718/f8k081018ex3-1_aytubio.htm">
<font style="color: #0000EE">Certificate of Amendment of
Certificate of Incorporation, effective August 10,
2018</font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">08/10/2018</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.8</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: bottom; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000119312515217957/d939908dex32.htm">
<font style="color: #0000EE">Amended and Restated
Bylaws</font></a></font></font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">06/09/2015</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.2</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.9</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018013427/fs1oct18a3ex3-9_aytubio.htm">
<font style="color: rgb(0, 0, 238); font-size: 13px;">Form of
Certificate of Designation of Preferences, Rights and Limitations
of Series E Convertible Preferred Stock</font></a></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10-Q<br></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">02/07/2019</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10.4</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.10</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018015059/f10q0918ex3-1_aytubiosci.htm">
<font style="color: rgb(0, 0, 255); font-size: 13px;">Form of
Certificate of Designation of Preferences, Rights and Limitations
of Series F Convertible Preferred Stock</font></a></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10/15/2019</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">3.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.11</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000165495419001148/aytu_ex104.htm">
<font style="color: rgb(0, 0, 255); font-size: 13px;">Form of
Placement Agent Warrant issued in 2015 Convertible Note
Financing<br></font></a></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">07/24/2015</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.2</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.12</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000119312515262003/d50939dex42.htm">
</a><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420416099585/v439153_ex4-1.htm"><font style="text-decoration: underline; color: #0000EE; font-size: 13px">Warrant
Agent Agreement, dated May 6, 2016 by and between Aytu BioScience,
Inc. and VStock Transfer, LLC.</font></a></font><br></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">05/06/2016</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.13</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: bottom; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420416099585/v439153_ex4-1.htm">
</a><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420416124782/v449009_ex4-5.htm"><font style="text-decoration: underline; color: #0000EE; font-size: 13px">First
Amendment to May 6, 2016 Warrant Agent Agreement between Aytu
BioScience, Inc. and VStock Transfer
LLC.</font></a></font></font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">S-1</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">09/21/2016</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.5</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.14</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420416124782/v449009_ex4-5.htm">
</a><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420416131142/v450891_ex4-1.htm"><font style="text-decoration: underline; color: #0000EE; font-size: 13px">Warrant
Agent Agreement, dated November 2, 2016 by and between Aytu
BioScience, Inc. and VStock Transfer,
LLC.</font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">11/02/2016</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.15</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420416131142/v450891_ex4-1.htm">
</a><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420417011968/v460775_ex4-1.htm"><font style="text-decoration: underline; color: #0000EE; font-size: 13px">Form
of Amended and Restated Underwriters Warrant (May 2016
Financing)</font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">03/01/2017</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.16</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420417011968/v460775_ex4-1.htm">
</a><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420417011968/v460775_ex4-2.htm"><font style="text-decoration: underline; color: #0000EE; font-size: 13px">Form
of Amended and Restated Underwriters Warrant (October 2016
Financing)</font></a></font><br></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">03/01/2017</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.2</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.17</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420417011968/v460775_ex4-2.htm">
</a><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420417043700/v473390_ex4-1.htm"><font style="text-decoration: underline; color: #0000EE; font-size: 13px">Common
Stock Purchase Warrant</font></a></font><br></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">8-K</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">08/16/2017</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.18</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000114420417043700/v473390_ex4-1.htm">
</a><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018002319/fs12018a3ex4-8_aytubio.htm"><font style="text-decoration: underline; color: #0000EE; font-size: 13px">Form
of Warrant for March 2018
Offering</font></a></font><br></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">S-1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">02/27/2018</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.8</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.19</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: bottom; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018002319/fs12018a3ex4-8_aytubio.htm">
<font style="color: #0000EE"><font style="text-decoration: underline; color: rgb(0, 0, 238); font-size: 13px;">
Form of Warrant for
Offering</font><br></font></a></font></font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">S-1/A</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10/13/2018</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.9</font></font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.20</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018013427/fs1oct18a3ex4-9_aytubio.htm">
</a><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018012974/fs12018a1ex4-10_aytubio.htm"><font style="text-decoration: underline; color: #0000EE; font-size: 13px">Form
of Representatives Warrant</font></a></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">S-1/A</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">09/25/2019</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.10</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.21</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018012974/fs12018a1ex4-10_aytubio.htm">
<font style="color: #0000EE"><font style="text-decoration: underline; color: rgb(0, 0, 255); font-size: 13px;">
Common Stock Purchase Warrant</font></font></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10-Q<br></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">02/17/2019</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10.5</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.22&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="text-decoration: underline; color: rgb(0, 0, 255); font-size: 13px;">
Form of Common Stock Purchase Warrant</font><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018012974/fs12018a1ex4-10_aytubio.htm"></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">8-K</font></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">10/15/2019</font><br></font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.23&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="text-decoration: underline; color: rgb(0, 0, 255); font-size: 13px;">
Placement Agency Agreement dated October 11,
2019</font><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018012974/fs12018a1ex4-10_aytubio.htm"></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">8-K</font></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">10/15/2019</font><br></font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.24&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="text-decoration: underline; color: rgb(0, 0, 255); font-size: 13px;">
Form of Securities Purchase Agreement</font><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018012974/fs12018a1ex4-10_aytubio.htm"></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">8-K</font></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">10/15/2019</font></font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10.2</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">4.25&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="text-decoration: underline; color: rgb(0, 0, 255); font-size: 13px;">
Form of Registration Rights Agreement</font><font style="color: rgb(0, 0, 238); font-size: 13px;"><a href="http://www.sec.gov/Archives/edgar/data/1385818/000121390018012974/fs12018a1ex4-10_aytubio.htm"></a></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">8-K</font></font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-size: 13px;">10/15/2019</font><br></font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">10.3</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">5.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="aytu_ex51.htm"><font style="font-family: Symbol;"><font style="font-size: 13px;">Opinion of Dorsey &amp; Whitney
LLP</font></font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">X<br></font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">23.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="aytu_ex231.htm"><font style="font-family: Symbol;"><font style="font-size: 13px;">Consent of Plante &amp; Moran,
PLLC</font></font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: bottom; width: 5%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">X</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">23.2</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="aytu_ex51.htm"><font style="font-family: Symbol;"><font style="font-size: 13px;">Consent of Dorsey &amp; Whitney LLP (included in
Exhibit 5.1)</font></font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">X</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 5%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">24.1</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 41%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="#sig"><font style="font-family: Symbol;"><font style="font-size: 13px;">Power of Attorney (included on signature
page)</font></font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 11%;">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 5%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">X</font></font></div>
</td>
</tr></table>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><a name="ref.dBD1"></a></font><a name="ref.dBD1"></a></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div id="pgbrk" style="text-align: left; width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">23</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-weight: bold; font-size: 13px">Item 17.</font><font style="font-weight: bold; font-size: 13px">Undertakings.</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-size: 13px">&#xA0;</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-size: 13px">(a) The
undersigned Registrant hereby undertakes:</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-size: 13px">&#xA0;</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-size: 13px">(1) To file,
during any period in which offers or sales are being made, a
post-effective amendment to this registration
statement:</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-size: 13px">&#xA0;</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-size: 13px">(i) To include any
prospectus required by Section&#xA0;10(a)(3) of the Securities
Act;</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-size: 13px">&#xA0;</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font><font style="font-size: 13px">(ii) To reflect in
the prospectus any facts or events arising after the effective date
of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the
registration statement. Notwithstanding the foregoing, any increase
or decrease in volume of securities offered (if the total dollar
value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Securities and Exchange Commission (the
&#x201C;Commission&#x201D;) pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than
20 percent change in the maximum aggregate offering price set forth
in the &#x201C;Calculation of Registration Fee&#x201D; table in the
effective registration statement; and</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(iii) To
include any material information with respect to the plan of
distribution not previously disclosed in the registration statement
or any material change to such information in the registration
statement;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic; font-size: 13px;">&#xA0;</font></font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-style: italic">provided, however</font>,
that:</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-family: Symbol;"><font style="font-size: 13px;">Paragraphs (a)(1)(i), (ii)&#xA0;and
(iii)&#xA0;do not apply if the information required to be included
in a post-effective amendment by those paragraphs is contained in
reports filed with or furnished to the Commission by the Registrant
pursuant to Section&#xA0;13 or Section&#xA0;15(d) of the Securities
Exchange Act of 1934, as amended (the &#x201C;Exchange Act&#x201D;),
that are incorporated by reference in the registration statement,
or is contained in a form of prospectus filed pursuant to Rule
424(b) that is part of the registration
statement.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(2) That, for
the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to
be the initial <font style="font-style: italic">bona fide</font>
offering thereof.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(3) To remove
from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination
of the offering.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(4) That, for
the purpose of determining liability under the Securities Act to
any purchaser:</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(i) Each
prospectus filed by the Registrant pursuant to Rule 424(b)(3) shall
be deemed to be part of the registration statement as of the date
the filed prospectus was deemed part of and included in the
registration statement; and</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(ii) Each
prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5)
or (b)(7) as part of a registration statement in reliance on Rule
430B relating to an offering made pursuant to Rule 415(a)(1)(i),
(vii)&#xA0;or (x)&#xA0;for the purpose of providing the information
required by Section&#xA0;10(a) of the Securities Act shall be
deemed to be part of and included in the registration statement as
of the earlier of the date such form of prospectus is first used
after effectiveness or the date of the first contract of sale of
securities in the offering described in the prospectus. As provided
in Rule 430B, for liability purposes of the issuer and any person
that is at that date an underwriter, such date shall be deemed to
be a new effective date of the registration statement relating to
the securities in the registration statement to which that
prospectus relates, and the offering of such securities at that
time shall be deemed to be the initial <font style="font-style: italic">bona fide</font> offering thereof.
<font style="font-style: italic">Provided</font>, <font style="font-style: italic">however</font>, that no statement made in a
registration statement or prospectus that is part of the
registration statement or made in a document incorporated or deemed
incorporated by reference into the registration statement or
prospectus that is part of the registration statement will, as to a
purchaser with a time of contract of sale prior to such effective
date, supersede or modify any statement that was made in the
registration statement or prospectus that was part of the
registration statement or made in any such document immediately
prior to such effective date.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(5) That, for
purposes of determining any liability under the Securities Act,
each filing of the Registrant&#x2019;s annual report pursuant to
Section&#xA0;13(a) or 15(d) of the Exchange Act (and, where
applicable, each filing of an employee benefit plan&#x2019;s annual
report pursuant to Section&#xA0;15(d) of the Exchange Act) that is
incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial <font style="font-style: italic">bona fide</font> offering
thereof.&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div id="pgbrk" style="text-align: left; width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">24</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</div>
</div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;"><a name="sig">
<!--EFPlaceholder--></a>SIGNATURES</font></font></font></div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-weight: bold; font-size: 13px;">&#xA0;</font></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Pursuant to
the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-3 and has duly caused
this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Englewood,
Colorado on December 17, 2019.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-size: inherit; width: 100%;">
<tr>
<td style="width: 46%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 32%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">AYTU BIOSCIENCE,
INC.</font></font></div>
</td>
</tr><tr>
<td style="width: 46%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 32%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 46%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 32%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">/s/ Joshua R. Disbrow</font></font></div>
</td>
</tr><tr>
<td style="width: 46%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Name:&#xA0;</font></font></div>
</td>
<td style="width: 27%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Joshua R. Disbrow</font></font></div>
</td>
</tr><tr>
<td style="width: 46%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Title:</font></font></div>
</td>
<td style="width: 27%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Chairman and Chief Executive
Officer</font></font></div>
</td>
</tr></table>
</div>

<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">KNOW ALL BY
THESE PRESENTS, that each person whose signature appears below
constitutes and appoints Joshua R. Disbrow and David A. Green as
his true and lawful attorneys-in-fact and agents, each with the
full power of substitution, for him and in his name, place or
stead, in any and all capacities, to sign any and all amendments to
this registration statement (including post-effective amendments),
and to file the same, with exhibits thereto and other documents in
connection therewith, with the SEC, granting unto said
attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite
and necessary to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and
agents, or their or his substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><br></font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Pursuant to
the requirements of the Securities Act of 1933, this registration
statement has been signed by the following persons in the
capacities indicated and on the dates
indicated.</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>

<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-size: inherit; width: 100%;">
<tr>
<td style="width: 26%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Signature</font></font></div>
</td>
<td style="width: 1%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Capacity&#xA0;in&#xA0;Which&#xA0;Signed</font></font></div>
</td>
<td style="width: 1%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-weight: bold; font-size: 13px;">Date</font></font></div>
</td>
</tr><tr>
<td style="width: 26%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 35%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 16%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 26%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="text-decoration: underline">/s/
Joshua R. Disbrow</font></font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Joshua R. Disbrow</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Chairman and Chief Executive
Officer</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(<font style="font-style: italic">Principal
Executive Officer</font>)</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;December 17, 2019</font></font></div>
</td>
</tr><tr>
<td style="width: 26%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 35%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 16%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 26%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="text-decoration: underline">/s/
David A. Green</font></font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">David A. Green</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Chief Financial Officer</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">(<font style="font-style: italic">Principal
Financial and Accounting Officer</font>)</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0; <font style="font-family: Symbol;"><font style="font-size: 13px;">December
17</font></font>, 2019</font></font></div>
</td>
</tr><tr>
<td style="width: 26%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 35%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 16%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 26%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="text-decoration: underline">/s/
Steven J. Boyd</font></font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Steven J. Boyd</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Director</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0; <font style="font-family: Symbol;"><font style="font-size: 13px;">December
17</font></font>, 2019</font></font></div>
</td>
</tr><tr>
<td style="width: 26%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 35%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 16%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 26%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="text-decoration: underline">/s/
Gary V. Cantrell</font></font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Gary V. Cantrell</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Director</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="font-family: Symbol;"><font style="font-size: 13px;">December 17</font></font>,
2019</font></font></div>
</td>
</tr><tr>
<td style="width: 26%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 35%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 16%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 26%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="text-decoration: underline">/s/
Carl C. Dockery</font></font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Carl C. Dockery</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Director</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0; <font style="font-family: Symbol;"><font style="font-size: 13px;">December
17</font></font>, 2019</font></font></div>
</td>
</tr><tr>
<td style="width: 26%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 35%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 16%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 26%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="text-decoration: underline">/s/
John A. Donofrio, Jr.</font></font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">John A. Donofrio, Jr.</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Director</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0; <font style="font-family: Symbol;"><font style="font-size: 13px;">December
17</font></font>, 2019</font></font></div>
</td>
</tr><tr>
<td style="width: 26%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 35%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 16%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 26%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="text-decoration: underline">/s/
Michael E. Macaluso</font></font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Michael E. Macaluso</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Director</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0; <font style="font-family: Symbol;"><font style="font-size: 13px;">December
17</font></font>, 2019</font></font></div>
</td>
</tr><tr>
<td style="width: 26%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 35%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td colspan="2" style="width: 16%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
</tr><tr>
<td style="width: 26%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;"><font style="text-decoration: underline">/s/
Ketan B. Mehta</font></font></font></div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Ketan B. Mehta</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 34%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">Director</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0;</font></font></div>
</td>
<td style="width: 16%">
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-family: Symbol;"><font style="font-size: 13px;">&#xA0; <font style="font-family: Symbol;"><font style="font-size: 13px;">December
17</font></font>, 2019</font></font></div>
</td>
</tr></table>
</div>

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<div id="pn" style="text-align: center"><font style="font-family: Symbol; font-size: 13px">25</font></div>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>aytu_ex51.htm
<DESCRIPTION>OPINION ON LEGALITY
<TEXT>
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Exhibit 5.1</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font><br>

</div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; margin: 0 auto;width: 100%;; font-family: inherit; font-size: inherit">
<tr>
<td style="width: 50%">
<div><font style="font-family: Times New Roman; font-size: 13px">Aytu BioScience,
Inc.</font></div>
</td>
<td style="width: 50%">
<div style="text-align: right"><font>&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">December 17,
2019</font></div>
</td>
</tr></table>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">373
Inverness Parkway, Suite 206</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Englewood,
Colorado 80112</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 36px"><font style="font-family: Times New Roman; font-size: 13px">Re:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="text-decoration: underline; font-family: Times New Roman; font-size: 13px">
Registration Statement on Form S-3 (File No.
333-&#x25CF;)</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Ladies
and Gentlemen:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">We have
acted as counsel to Aytu BioScience, Inc., a Delaware corporation
(the &#x201C;Company&#x201D;), in connection with Registration
Statement No. 333-&#x25CF; on Form S-3 (the &#x201C;Registration
Statement&#x201D;) filed by the Company with the Securities and
Exchange Commission (the &#x201C;Commission&#x201D;) under the
Securities Act of 1933, as amended (the &#x201C;Securities
Act&#x201D;), relating to the resale of 20,000,000 shares of the
Company&#x2019;s common stock, par value $0.0001 per share (the
&#x201C;Shares&#x201D;) of the Company by Armistice Capital Master
Fund Ltd. and Altium Capital Management LP (the &#x201C;Selling
Stockholders&#x201D;). The Shares include: (1) 10,000,000 shares of
the Company&#x2019;s common stock (the &#x201C;Warrant Shares&#x201D;)
issuable upon the exercise of warrants (the &#x201C;Warrants&#x201D;)
issued pursuant to the Securities Purchase Agreement (the
&#x201C;Purchase Agreement&#x201D;) dated October 11, 2019 between
the Company and the Selling Stockholders; and (2) 10,000,000 shares
of the Company&#x2019;s common stock (the &#x201C;Conversion
Shares&#x201D;) issuable upon the conversion of Series F Convertible
Preferred Stock (the &#x201C;Series F Preferred Stock&#x201D;) issued
to the Selling Stockholders pursuant to the Purchase Agreement in
accordance with a Certificate of Designation of Preferences Rights
and Limitations of Series F Convertible Preferred Stock (the
&#x201C;Certificate of Designation&#x201D;) filed with the Secretary
of State of the State of Delaware on October 15, 2019, pursuant to
Section&#xA0;151 of the Delaware General Corporation
Law.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">We have
examined such documents and have reviewed such questions of law as
we have considered necessary or appropriate for the purposes of our
opinions set forth below. In rendering our opinions set forth
below, we have assumed the authenticity of all documents submitted
to us as originals, the genuineness of all signatures and the
conformity to authentic originals of all documents submitted to us
as copies. We have also assumed the legal capacity for all purposes
relevant hereto of all natural persons. As to questions of fact
material to our opinions, we have relied upon certificates or
comparable documents of officers and other representatives of the
Company and of public officials.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Based
on the foregoing and subject to the limitations, qualifications,
and assumptions set forth herein, we are of the opinion
that:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 84px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">1.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Warrant Shares,
when issued upon valid exercise of Warrants in accordance with the
terms of the Warrants, including without limitation payment of the
specified exercise price therefor, will be validly issued, fully
paid, and non-assessable.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 84px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">2.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Conversion
Shares, when issued upon conversion of Series F Preferred Stock in
accordance with the terms of the Certificate of Designation, will
be validly issued, fully paid, and non-assessable.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Our
opinions expressed above are limited to the federal laws of the
United States of America, the laws of the State of New York, and
the Delaware General Corporation Law.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">We
hereby consent to the filing of this opinion as an exhibit to the
Registration Statement, and to the reference to our firm under the
heading &#x201C;Legal Matters&#x201D; in the prospectus constituting
part of the Registration Statement. In giving this consent, we do
not admit that we are within the category of persons whose consent
is required under Section 7 of the Securities Act or the rules and
regulations of the Commission thereunder.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 336px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Very
truly yours,</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 336px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Dorsey
&amp; Whitney LLP</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">NT/AWE/TF</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 336px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit 23.1</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
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CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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We hereby consent to the incorporation by reference in this Form
S-3 (No. 333- &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;) and
related prospectus of Aytu BioScience, Inc. (the
&#x201C;Company&#x201D;) of our report dated S</font><font style="color: #000000">eptember 26, 2019, with respect to the
consolidated balance sheets of the Company as of June 30, 2019 and
2018, and the related consolidated statements of operations,
stockholders&#x2019; deficit, and cash flows for the years then
ended. We also consent to the reference to our firm under the
heading &#x201C;Experts&#x201D; in the Registration Statement and
prospectus.</font></font></div>
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&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
/s/ Plante &amp; Moran, PLLC</font></div>
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&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Denver, Colorado</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
December 17, 2019</font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
