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Auris Medical plunges as its Keyzilen tinnitus treatment fails pivotal late-stage study

The Swiss biopharma said late Tuesday that its Keyzilen in-ear injection failed to register a “statistically significant improvement” in tinnitus patients when compared with those receiving the placebo
tinnitus patient
Auris had hoped that Keyzilen would have been the first approved treatment for acute inner ear tinnitus

Auris Medical Holding AG (NASDAQ:EARS) was the top faller on Wall Street on Monday after the Swiss biopharma’s tinnitus treatment candidate failed in a key late-stage study.  

Preliminary top-line data from the TACTT3 trial showed patients taking Keyzilen failed to register a “statistically significant improvement” when compared to those taking a placebo.

“The company is investigating the outcomes, including those in the previously conducted sister trial TACTT2, and will provide an update in due course,” read a statement late on Tuesday.

Had it have been successful, the in-ear injection could have been the first drug to gain approval for treating acute inner ear tinnitus.

Alongside news of the failure, Auris announced a share consolidation which sees one new share issued to investors for every ten of the old shares.

Allowing for the consolidation, shares were down 38.3% to US$1.55 shortly after midday on Monday.

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