Biotech Stock News: Auris Medical Holding AG (NASDAQ:EARS)


Auris Medical Holding AG (NASDAQ:EARS), one of the buzzing biotechnology stocks, is down around 20% over the last quarter and down more than 80% over the preceding six months. It has given negative returns of over 80% over the last year. In the last trading session, the stock price of Auris declined over 18% to close at $0.934.

The buzz

Auris Medical, a clinical-stage firm dedicated to developing medications that address unmet medical needs in the field of otolaryngology, reported that it is intending to sell warrants and common shares to buy its common stock in an underwritten public offering depending on an effective registration statement submitted with the SEC.

The warrants and common shares are being offered in units. In relation with this offering, the firm anticipates to allow the underwriter a 30-day alternative to buy up to an increased 15% of the warrants and/or common shares sold in the offering.

All of the warrants and common shares are being offered by the firm. There can be no guarantee as to whether or when the stock offering may be closed, or as to the actual terms or size of the offering. Auris Medical plans to utilize the net proceeds from the public offering for general corporate and working capital needs.

The book-running manager for the public offering is Roth Capital Partners, LLC. A registration statement pertaining to these stocks has been submitted with the SEC and was reported effective in September 2015.

Despite the poor performance on the charts, Auris Medical comes in the list of top biotech stocks picks for 2017. The stock has a “buy” rating from the expert analysts at Needham & Company. They have set a $5.0 price target on the stock. It should be noted that the firm is focused on the Phase III advancement of treatments for acute inner ear tinnitus.


Please enter your comment!
Please enter your name here