Auris Medical Holding AG (NASDAQ: EARS) is having an incredibly strong start to the trading session this morning, following up on the gains we’ve seen on the stock as of late. While the company has released no news today, there’s a very good reason for the gains. Today, we’ll talk about:
- Why EARS is headed up;
- waht we’re seeing from the stock; and
- what we’ll be watching for ahead.
EARS Continues To Rise On Positive Clinical Data
As mentioned above, Auris Medical is having an incredibly strong start to the trading session this morning. While the company hasn’t released any news today, the gains are the result of positive news. Two days ago, the company announced positive data from the second Phase 1 trial of intranasal betahistine.
During the trial, the treatment was provided to healthy volunteers by EARS in an attempt to assess safety, tolerability and bioavailability. In the announcement, the company said that the data demonstrate superior bioavailability over a range of four intranasal betahistine doses when compared to oral betahistine. In fact, plasma exposure to the treatment was between 6 and 29 times higher via intranasal delivery. In a statement, Elias Michaelides, MD, Associate Professor of Surgery, Otolaryngology and Director of the Hearing and Balance Program at the Yale School of Medicine, had the following to offer:
The results from the phase 1 trial with intranasal betahistine appear very promising… While oral betahistine can be quite useful in vertigo management, its therapeutic potential is clearly restrained by poor bioavailability. Intranasal betahistine seems to address and overcome this limitation very effectively.
The above statement was followed up by Thomas Meyer, founder, Chairman and CEO at EARS. Here’s what he had to offer:
We are very pleased by the positive outcomes of the second Phase 1 trial as they confirm and validate the cornerstone of our intranasal betahistine program, which is superior bioavailability… At the same time, the study demonstrated that repeated dosing is safe, well tolerated and feasible. Based on these results, we look forward to moving ahead with our planned proof-of-concept studies in acute vertigo and olanzapine-induced weight gain.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Auris Medical, the news proved to be overwhelmingly positive. With the strong data, the company has moved leaps and bounds in the development of intranasal betahistine. As you could imagine, this excited investors, leading to a massive run that continues today. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:50), EARS is trading at $1.06 per share after a gain of $0.21 per share or 24.71% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on EARS. In particular, we’re interested in following the story surrounding the company’s continued work to bring intranasal betahistine to market, especially considering the positive data that the company just released. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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