Au­ris shares are crushed as tin­ni­tus drug fails PhI­II test

Shares of Au­ris Med­ical $EARS zoomed up 40% yes­ter­day and then came crash­ing down to the ground Thurs­day morn­ing af­ter the Swiss biotech re­port­ed that its lead drug for tin­ni­tus failed to hit its co-pri­ma­ry end­points in a piv­otal Phase III study.

In­stead of plan­ning a reg­u­la­to­ry fil­ing, Au­ris will now have to start pick­ing up the pieces from a study that failed to dif­fer­en­ti­ate its drug from a place­bo in elim­i­nat­ing the se­vere phan­tom sounds that af­flict pa­tients with tin­ni­tus.

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