earsAuris Medical Holding AG (NASDAQ: EARS) is having an incredibly strong start to the trading session this morning. However, if you go digging for news, you’ll see that there’s nothing out there that was released today. So, what’s the deal? We believe we know why the stock is climbing. Today, we’ll talk about:
- Why EARS stock is headed up;
- what we’re seeing in the market; and
- what we’ll be watching for ahead.
Why EARS Is Climbing
As mentioned above, Auris Medical is having an incredibly strong start to the trading session this morning, but there has been no news released by the company. So, what’s the deal? It all has to do with a press release that was issued a few days ago.
On October 12, 2018, EARS issued a press release, announcing that it intends on providing an update on its intranasal betahistine program. In the release, the company said that the update would be provided on October 17, 2018, just two days away. In the update, the company said that it would be providing key results from the second Phase 1 clinical trial of the treatment. The information will be provided via conference call and webcast at 8:00 am EST.
If you would like to join the call, you can do so by calling 1-877-407-0312 (toll free) or +1 201-389-0899. Once you are on the line, simply enter the passcode 13684189. The conference will also be available for replay about two hours after the call on the company’s website.
Considering that a catalystic event is ahead, EARS investors are excited, pushing the stock up ahead of the event.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news causes moves. In the case of Auris Medical, while news hasn’t been released today, investors are excited as they await the news that is coming just two days from now. So, it comes as no surprise that these excited investors are pushing the stock for the top. At the moment (9:50), EARS is trading at $1.44 per share after a gain of $0.46 per share or 47.11% 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 intranasal betahistine program and the update that will be coming down the line shortly. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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