Auris Medical Climbs 480% Following Positive Lab Results Unlisted Video
3 years ago
1.71K
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.
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