<SEC-DOCUMENT>0001213900-19-027292.txt : 20200210
<SEC-HEADER>0001213900-19-027292.hdr.sgml : 20200210
<ACCEPTANCE-DATETIME>20191231161022
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ACCESSION NUMBER:		0001213900-19-027292
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20191231

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:		CORRESP

	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
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">December 31, 2019<BR>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Office of Life Sciences</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Attn: Chris Edwards &amp; Mary Beth Breslin</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities and Exchange Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">100 F Street, N.E.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;</TD></TR>
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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>Responses to the Securities and Exchange Commission<BR>
Staff Comments dated December 30, 2019, regarding<BR>
Aytu BioScience, Inc.<BR>
Registration Statement on Form S-3<BR>
Filed December 17, 2019<BR>
Amendment No. 1 to the Registration Statement on Form S-3<BR>
Filed December 20, 2019<BR>
File No. 333-235548</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">Dear Sir/Madam:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0">This letter responds to the staff&rsquo;s comments set forth
in the December 30, 2019 letter regarding the above-referenced Registration Statement on Form S-3 filed December 17, 2019 and Amendment
No. 1 to the Registration Statement on Form S-3 filed December 20, 2019. For your convenience, the staff&rsquo;s comments are included
below and we have numbered our responses accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0">In some of the responses, we have agreed to change or supplement
the disclosures in future filings. We are doing so in the spirit of cooperation with the staff of the Securities and Exchange Commission,
and not because we believe our prior filing is materially deficient or inaccurate. Accordingly, any changes implemented in future
filings should not be taken as an admission that prior disclosures were in any way deficient. We have also indicated in some responses
that we believe no change in disclosure is appropriate, and have explained why.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0">Our responses are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-indent: 0in"><U>Amendment No. 1 to the Registration
Statement on Form S-3</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-indent: 0in"><U>Documents Incorporated by Reference,
page 18</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-indent: 0in">Staff Comment No. 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0.5in">Please revise the incorporation by reference section
to include the Form 8-K filings made on August 2, 2019, September 18, 2019, December 2, 2019 and December 11, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">December 31, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">Aytu BioScience, Inc.&rsquo;s Response:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">We have revised the incorporation by reference section
in Amendment No. 2 to the Registration Statement on Form S-3 to include the Current Reports on Form 8-K filed on August 2, 2019,
September 18, 2019, December 2, 2019 and December 11, 2019.</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0"><U>General</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0">Staff Comment No. 2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0.5in">We note that your forum selection provision in Section
8 of your Amended and Restated Bylaws identifies the Court of Chancery of the State of Delaware as the exclusive forum for certain
litigation, including any &ldquo;derivative action.&rdquo; Please disclose whether this provision applies to actions arising under
the Securities Act or Exchange Act. In that regard, we note that Section 27 of the Exchange Act creates exclusive federal jurisdiction
over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder, and
Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce
any duty or liability created by the Securities Act or the rules and regulations thereunder. If the provision applies to Securities
Act claims, please also revise your prospectus to state that there is uncertainty as to whether a court would enforce such provision
and that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. If this provision
does not apply to actions arising under the Securities Act or Exchange Act, please tell us how you will inform investors in future
filings that the provision does not apply to any actions arising under the Securities Act or Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">Aytu BioScience, Inc.&rsquo;s Response:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">We respectfullyadvise the Staff that the our forum selection
provision follows established Delaware case law and legislation. Accordingly, this provision is not intended to apply to claims
arising under the Securities Act of 1933, as amended, and/or the Securities Exchange Act of 1934, as amended. In response to the
Staff&rsquo;s comment, we agree that we will include in our future filings, the following risk factor disclosure:</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B><I>&ldquo;Our Amended and Restated Bylaws provides
that the Court of Chancery of the State of Delaware is the exclusive forum for certain litigation that may be initiated by our
stockholders, including claims under the Securities Act, which could limit our stockholders&rsquo; ability to obtain a favorable
judicial forum for disputes with us or our directors, officers or employees.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">December 31, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 3</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Our Amended and Restated Bylaws provides that the Court
of Chancery of the State of Delaware shall, to the fullest extent permitted by law, be the sole and exclusive forum for (i) any
derivative action or proceeding brought on our behalf, (ii) any action asserting a claim for breach of a fiduciary duty owed by
any of our directors, officers, employees or agents to us or our stockholders, (iii) any action asserting a claim arising pursuant
to any provision of the Delaware General Corporation Law, our certificate of incorporation or our bylaws or (iv) any action asserting
a claim governed by the internal affairs doctrine. The choice of forum provision may limit a stockholder&rsquo;s ability to bring
a claim in a judicial forum that it finds favorable for disputes with us or our directors, officers, employees or agents, which
may discourage such lawsuits against us and our directors, officers, employees and agents. Stockholders who do bring a claim in
the Court of Chancery could face additional litigation costs in pursuing any such claim, particularly if they do not reside in
or near the State of Delaware. The Court of Chancery may also reach different judgments or results than would other courts, including
courts where a stockholder considering an action may be located or would otherwise choose to bring the action, and such judgments
or results may be more favorable to us than to our stockholders. Alternatively, if a court were to find the choice of forum provision
contained in our certificate of incorporation to be inapplicable or unenforceable in an action, we may incur additional costs associated
with resolving such action in other jurisdictions, which could adversely affect our business and financial condition. Notwithstanding
the foregoing, the exclusive provision shall not preclude or contract the scope of exclusive federal or concurrent jurisdiction
for actions brought under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, or the respective
rules and regulations promulgated thereunder.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center">* * * * *</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0">Thank you for your review of the filing. If you should have
any questions regarding the response letter, please do not hesitate to contact the undersigned or Anthony W. Epps of Dorsey &amp;
Whitney LLP at (303) 352-1109.</P>

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    <TD STYLE="width: 62%">&nbsp;</TD>
    <TD STYLE="width: 38%">Sincerely,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Aytu BioScience, Inc.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">Josh R. Disbrow</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">cc:&#9;&nbsp;&nbsp;&nbsp;&nbsp;Anthony W. Epps, Dorsey &amp; Whitney LLP</P>



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