EARS - Auris Medical net loss widens in FY20 shares down 3%
Auris Medical (EARS) down 3% premarket after announcing FY 2020 results and business update.Total operating expenses were CHF5.3M compared to CHF7.3M for 2019.Net loss was CHF8.2M, or CHF1.36/share, compared to CHF6.6M or CHF2.28/share for prior year.Cash and equivalents at December 31, 2020, totaled to CHF11.3M.The Company expects its total cash needs in 2021 in the range of CHF11.5M to 13M for expected total operating expenses of CHF7M to 7.5M.Auris expects to complete enrollment in Phase 2 trial with AM-125 in acute vertigo in Q3.Launch of AM-301 expected in selected markets towards the end of Q2.“...We managed to develop in less than six months a drug-free nasal spray that reduced the SARS-CoV-2 viral titer in a model representative of the human nasal mucosa by more than 99%," stated Thomas Meyer, Founder, Chairman and CEO.Clinical evaluation of AM-301 nasal spray in allergen protection is progressing and the Company has initiated or planned several in
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Auris Medical net loss widens in FY20, shares down 3%