Volumes Spike on Auris Medical Holding AG (NASDAQ:EARS) Financial Release

Auris Medical Holding AG (NASDAQ:EARS)

Swiss-based Auris Medical Holding AG (NASDAQ:EARS) released their Q4 2016 and full-year financial report this morning. Included in the release were program updates. Auris Medical Holding AG is a clinical-stage biopharmaceutical company that focuses on the development of discovering, developing, and commercializing products for the treatment of inner ear disorders.

2016 Financial Update

In 2016, Auris Medical Holding AG (NASDAQ:EARS) completed a public offering of 10,000,000 common shares and 10,000,000 warrants with net proceeds of $9.1 million. The common shares and warrants were sold in units comprised of one common share and one warrant at the price of $1.00 per unit. Each warrant entitles its holder to purchase 0.70 of a common share at the price of $1.20 per share.

Auris Medical Holding AG (NASDAQ:EARS) reported cash and cash equivalents of 32.4 million CHF – this figure does not include $9.1 million in net proceeds from last month’s public offering.

In 2015 Auris reported total operating expenses of CHF 30.9 million and for 2016 Auris reported a figure of CHF 30.2 million. Research and development expenses dropped from CHF 26.5 million in 2015 to CHF 24.8 million in 2016. The net loss for 2016 was CHF 30.7 million or CHF(0.89)/share. In 2015 Auris reported a loss of CHF 29.7 million or CHF(0.92)/share.

For 2017, Auris projects that its operating expenses will not see a large change – between CHF 28 and CHF 32 million.

Program Updates

AM-111 received fast track designation from the Food and Drug Administration (FDA). This designation applies to acute inner-ear hearing loss. AM-111 is currently enrolling patients for a Phase 3 HELEOS trial being conducted in European and Asian countries. Top-line results are expected by Q3 2017.

AM-101 resumed enrollment for its Phase 3 TACTT3 trial of drug candidate Keyzilen and top-line results are expected in 2018. The safety study for Keyzilen has been completed and results are expected to be announced in Q2 2017.

Pipeline for Auris Medical Holding AG (NASDAQ:EARS)

Auris Medical Holding AG (NASDAQ:EARS) shares have had a muted response to the financial and program development release. Shares of EARS are up less than 2% but on heavy volume. Three firms cover Auris Medical. Two rate EARS shares as a “Strong Buy” and one rates the shares as a “Hold”.

Ticker Symbol EARS
Last Price a/o 10:03 AM EST  $                      0.86
Average Volume                    360,000
Market Cap (mlns)  $                    25.52
Sales (mlns) $0.00
Shares Outstanding (mlns) 30.38
Share Float (mlns) 26.91
Shortable Yes
Optionable Yes
Inside Ownership 0.00%
Short Float 2.11%
Short Interest Ratio 1.58
Quarterly Return -35.88%
YTD Return -21.50%
Year Return -81.37%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy. 

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.

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Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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