Auris Medical Provides Business Update
March 13 2018 - 4:15PM
Zug, Switzerland, March 13, 2018 - Auris Medical
Holding AG (NASDAQ: EARS), a clinical-stage company dedicated to
developing therapeutics that address important unmet medical needs
in neurotology, today provided an update on the TACTT3 clinical
trial with Keyzilen® in the treatment of acute inner ear tinnitus
as well as the results from the Company's Extraordinary General
Meeting held on March 12, 2018.
TACTT3 Trial Preliminary top-line data
from the TACTT3 trial indicate that the study did not meet its
primary efficacy endpoint of a statistically significant
improvement in the Tinnitus Functional Score from baseline to Day
84 in the active treated group compared to placebo either in the
overall population or in the otitis media subpopulation. The
Company is investigating the outcomes, including those in the
previously conducted sister trial TACTT2, and will provide an
update in due course.
Extraordinary General Meeting On March
12, 2018, the extraordinary general meeting of shareholders of
Auris Medical Holding AG approved, among other items, the merger of
the company with one of its subsidiaries. The merger has become
effective on March 13, 2018, and results in a reverse split of 1
new share for 10 old shares. The post-merger common shares (CUSIP
number H0381L104) of Auris Medical Holding AG are expected to begin
trading on the Nasdaq Capital Market on March 14, 2018.
About Auris MedicalAuris Medical is a
Swiss biopharmaceutical company dedicated to developing
therapeutics that address important unmet medical needs in
neurotology. The company is focused on the Phase 3 development of
treatments for acute inner ear hearing loss (AM-111) and for acute
inner ear tinnitus (Keyzilen®; AM-101) by way of intratympanic
administration with biocompatible gel formulations. In addition,
Auris Medical is developing intranasal betahistine for the
treatment of vertigo (AM-125) as well as early-stage research and
development projects. The Company was founded in 2003 and is
headquartered in Zug, Switzerland. The shares of Auris Medical
Holding AG trade on the NASDAQ Capital Market under the symbol
"EARS."
Forward-looking Statements This press
release may contain statements that constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are statements other than historical
fact and may include statements that address future operating,
financial or business performance or Auris Medical's strategies or
expectations. In some cases, you can identify these statements by
forward-looking words such as "may," "might," "will," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "projects," "potential," "outlook" or "continue," and
other comparable terminology. Forward-looking statements are based
on management's current expectations and beliefs and involve
significant risks and uncertainties that could cause actual
results, developments and business decisions to differ materially
from those contemplated by these statements. These risks and
uncertainties include, but are not limited to, Auris Medical's need
for and ability to raise substantial additional funding to continue
the development of its product candidates, the timing and conduct
of clinical trials of Auris Medical's product candidates, the
clinical utility of Auris Medical's product candidates, the timing
or likelihood of regulatory filings and approvals, Auris Medical's
intellectual property position and Auris Medical's financial
position, including the impact of any future acquisitions,
dispositions, partnerships, license transactions or changes to
Auris Medical's capital structure, including future securities
offerings. These risks and uncertainties also include, but are not
limited to, those described under the caption "Risk Factors" in
Auris Medical's Annual Report on Form 20-F and future filings with
the Securities and Exchange Commission. Forward-looking statements
speak only as of the date they are made, and Auris Medical does not
undertake any obligation to update them in light of new
information, future developments or otherwise, except as may be
required under applicable law. All forward-looking statements are
qualified in their entirety by this cautionary statement.
Company contact: Hernan Levett, Chief Financial Officer, +41 61
201 1350
Investor contact: Daniel Ferry, LifeSci Advisors, LLC,
1-617-535-7746
investors@aurismedical.com
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