Auris Medical Holding

US: EARS

$14m 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. Following positive Phase I data where their formulation demonstrated superior bioavailability to the oral version, Auris expects to initiate its Phase II clinical trial in 138 patients with surgically-induced acute vertigo shortly. 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.

Y/E Dec
Revenue (CHFm)
EBITDA (CHFm)
PBT (CHFm)
EPS (CHFc)
P/E (x)
P/CF (x)
2017A 0.0 (24.5) (25.9) (53.60) N/A N/A
2018A 0.0 (11.0) (12.0) (72.04) N/A N/A
2019E 0.0 (11.3) (11.6) (58.26) N/A N/A
2020E 0.0 (16.5) (17.5) (84.49) 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 debt (CHFm) 7.4
Forecast gearing ratio (%) 93
Price performance
%
1m
3m
12m
Actual 2.0 (12.6) (75.3)
Relative* 0.3 (19.5) (76.0)
52-week high/low US$2.0/US$0.2
*% relative to local index
Key management
Thomas Meyer CEO
Hernan Levett CFO