Auris Gives Back Rally After Ear Tinnitus Trial Misses Endpoint

Shares of Auris Medical Holding AG (EARS) are sinking in pre-market trading after the company said its Phase 3 TACTT2 trial with Keyzilen in acute inner ear tinnitus did not meet the two co-primary efficacy endpoints of statistically significant changes in tinnitus loudness and tinnitus burden compared to placebo.

Data from the trial support the positive safety profile established in previous studies, Auris added. "The assessment of the trial data is ongoing and we intend to discuss outcomes and our plans for a path forward with regulatory agencies prior to the readout from the TACTT3 trial," said CEO Thomas Meyer in this morning's press release. Auris rallied 39% yesterday, or $1.51, to $5.35 ahead of today's data readout. The stock in pre-market trading is down 35%, or $1.85, to $3.50.