Auris Medical Holding

US: EARS

$9m market cap

$0.4 last close

Auris Medical is a Swiss biopharmaceutical company developing neurotology and CNS therapeutics. The company is developing intranasal betahistine in a Phase I trial for mental disorder supportive care and entered Phase II for vertigo.

Investment summary

Auris Medical is a clinical-stage biopharmaceutical company developing pharmacotherapies for inner ear and CNS disorders. 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 has initiated its Phase II clinical trial in 138 patients with surgically induced acute vertigo, with interim data expected in Q419/Q120. 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. Interim top line data from that trial showed the drug to be well tolerated and they are going to higher doses.

Y/E Dec
Revenue (CHFm)
EBITDA (CHFm)
PBT (CHFm)
EPS (CHFc)
P/E (x)
P/CF (x)
2017A 0.0 (24.5) (25.9) (1072.03) N/A N/A
2018A 0.0 (11.0) (12.0) (1532.81) N/A N/A
2019E 0.0 (11.0) (11.0) (377.63) N/A N/A
2020E 0.0 (17.9) (18.8) (426.39) N/A N/A
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 debt (CHFm) 1.1
Forecast gearing ratio (%) 51
Price performance
%
1m
3m
12m
Actual 1.9 (15.1) (43.8)
Relative* 6.0 (15.5) (44.7)
52-week high/low US$2.0/US$0.2
*% relative to local index
Key management
Thomas Meyer CEO
Elmar Schaerli CFO