Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Auris Medical plunges as its Keyzilen tinnitus treatment fails pivotal late-stage study

The Swiss biopharma said late Tuesday that its Keyzilen in-ear injection failed to register a “statistically significant improvement” in tinnitus patients when compared with those receiving the placebo
tinnitus patient
Auris had hoped that Keyzilen would have been the first approved treatment for acute inner ear tinnitus

Auris Medical Holding AG (NASDAQ:EARS) was the top faller on Wall Street on Monday after the Swiss biopharma’s tinnitus treatment candidate failed in a key late-stage study.  

Preliminary top-line data from the TACTT3 trial showed patients taking Keyzilen failed to register a “statistically significant improvement” when compared to those taking a placebo.

“The company is investigating the outcomes, including those in the previously conducted sister trial TACTT2, and will provide an update in due course,” read a statement late on Tuesday.

Had it have been successful, the in-ear injection could have been the first drug to gain approval for treating acute inner ear tinnitus.

Alongside news of the failure, Auris announced a share consolidation which sees one new share issued to investors for every ten of the old shares.

Allowing for the consolidation, shares were down 38.3% to US$1.55 shortly after midday on Monday.

View full EARS profile View Profile

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use