Auris Medical Holding AG (NASDAQ: EARS) is having yet another strong day in the market today, following up on the gains that we saw from the stock as the week closed out last week. While there is no recent news that was released by the company, there is a very good reason for the gains. Today, we’ll talk about:
- Why EARS is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why EARS Is Headed Up
As mentioned above, Auris Medical is having an incredibly strong start to the trading session this morning, following up on the recent gains seen from the stock. With no news, many are wondering what’s going on. Nonetheless, there’s a good reason for the gains.
Late last week, EARS announced positive clinical data from the second Phase 1 clinical trial assessing its intranasal betahistine. During the study, the company provided the treatment to healthy volunteers in an attempt to assess the safety, tolerability and bioavailability of the treatment. The results show that the company demonstrated superior bioavailability over a range of four doses when compared to oral betahistine. In fact, plasma exposure came in at between 6 and 29 times higher in intranasal betahistine when compared to oral betahistine. The company also said that the treatment demonstrated a good safety profile and proved to be well-tolerated when the treatment is administered three times daily for three days.
In a statement, Thomas Meyer, founder, Chairman and CEO at EARS, had the following 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. After all, the intranasal betahistine is showing strong results, adding validity to the company’s work. So, it comes as no surprise to see that excited investors are continuing the run we’ve seen on the stock as of late. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:34), EARS is trading at $1.01 per share after a gain of $0.05 per share or 5.21% 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 continued work to bring intranasal betahistine to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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