Edison issues initiation on Auris Medical Holding (EARS)
01 Novembro 2018 - 1:00PM
Auris Medical (EARS) is a clinical-stage biopharmaceutical company
developing pharmacotherapies for neurologic disorders of the inner
ear. The company’s primary focus is on the development of
intranasal betahistine for the treatment of acute vertigo. Oral
betahistine dihydrochloride has been prescribed in Europe for
decades for all types of vertigo, with an average 26% market share.
We initiate at $117.6m or $4.89 per basic share based on a
risk-adjusted NPV analysis of these two programs.
We arrive at an initial valuation of $117.6m or $4.89 per basic
share ($3.20 per diluted share) based on a risk-adjusted NPV
analysis of Auris’s two Phase I clinical programs in the US and
European markets. Accordingly, we forecast significant financing
needs (CHF65m) to bring both programs from Phase I through to
commercialization. Click here to view the full
report.
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For more information, please contact
Edison:
Maxim Jacobs, +1 646 653 7027Nathaniel Calloway, +1 646 653
7036Briana Warschun, +1 646 653
7031healthcare@edisongroup.com
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