Auris Medical Holding

US: EARS

$8m market cap

$0.4 last close

Auris Medical is a Swiss biopharmaceutical company developing neurotology therapeutics. The company is developing intranasal betahistine in a Phase I trial for mental disorder supportive care and is entering Phase II for vertigo; both are designed to demonstrate proof-of-concept.

Investment summary

Auris Medical is a clinical-stage biopharmaceutical company developing pharmacotherapies for neurologic disorders of the inner ear. The company’s primary focus is on the development of AM-125 (intranasal betahistine) for the treatment of acute vertigo. Oral betahistine dihydrochloride has been prescribed in Europe for decades for all types of vertigo, with an average 26% market share, but is not available in the US. Auris is in the process of initiating its Phase II clinical trial in 138 patients with surgically induced acute vertigo, with interim data expected in Q419. Auris is also developing AM-201, an intranasal betahistine formulation in Phase Ib, for co-administration with olanzapine to counteract adverse effects, especially weight gain. That trial is fully enrolled, with top-line data expected around the end of Q319.

Y/E Dec
Revenue (CHFm)
EBITDA (CHFm)
PBT (CHFm)
EPS (CHFc)
P/E (x)
P/CF (x)
2017A 0.0 (24.5) (25.9) (1072.0) N/A N/A
2018A 0.0 (11.0) (12.0) (1533.0) N/A N/A
2019E 0.0 (11.3) (11.3) (256.0) N/A N/A
2020E 0.0 (16.5) (17.2) (375.0) N/A N/A
Last updated on 14/03/2019
Industry outlook

Acute vertigo/dizziness is one of the most common causes of visits to the emergency room with roughly 2.6m visits associated with the condition each year.

Last updated on 14/03/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (CHFm) 0.6
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (41.3) (50.1) (88.9)
Relative* (39.4) (51.2) (89.2)
52-week high/low US$2.0/US$0.2
*% relative to local index
Key management
Thomas Meyer CEO
Hernan Levett CFO