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Auris Medical Climbs 480% Following Positive Lab ResultsWochit News
Auris Medical skyrocketed as high as 480% on Tuesday. The surge followed the announcement that its nasal spray, AM-301, could potentially protect against the coronavirus. Business Insider reports that the clinical-stage company tested its spray using human nasal cells in a laboratory setting. Researchers found that cells treated with AM-301 right before inoculation of the coronavirus saw effective protection. In cells treated with the spray, the amount of coronavirus was 90% lower than control groups 48 hours after infection. Shares of the Bermuda-based company are trading at over $5 per share, after closing at just $1.1 on Monday.