Shares of Auris Medical Holding Ltd. (EARS) stock were gloomy in the pre-market session today on June 2, 2021, after facing a downtrend of 1.67% at the previous closing. EARS stock price saw a downtrend of 0.85% to drop at $3.50 a share at the time of this writing. Let’s see the reason behind this bearish sentiment.
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What’s Happening?
There is no major culprit to explain the falling EARS stock price today. Neither the EARS stock announced any news, nor the analyst downgraded the EARS stock. However, EARS stock announced yesterday on June 1, 2021, about the preparations of the Covid-19 trial with Bentrio in India.
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Altamira Medica Ltd, which is the affiliate of EARS stock, has begun the preparations in order to conduct the study for its BentrioTM nasal spray to check the resistance against the allergens and airborne viruses in India. In this study, the efficacy of BentrioTM in the treatment and resistance against acute coronavirus will be evaluated. After getting regulatory and ethics committee approval, the recruitment for this study would start in the third quarter of 2021.
Effectiveness of Bentrio:
The BentrioTM proved to be effective against SARS-CoV-2 when applied to patients before and after the infection. However, many vaccines have been rolled out against Covid-19, but no one can deny the fact that still coronavirus is the major health concern around the world as it is at its peak in many countries including India, and evolving with time. The management of EARS stock in this situation looking forward to the study ofBentrioTMto test and confirm its efficacy against Covid-19 clinically.
Bentrio Marketing in Europe:
Prior to the preparation of the Covid-19 trial with Bentri, Auris stock on May 25, 2021, announced the completion of conformity assessment procedure in order to do marketing of Bentrio nasal spray in European Union (EU) member states. According to Medical Devices Directive (MDD), theBentrioTMbelongs to the class I medical device category and thus meets all the marketing requirements across Europe under the CE mark. The launching of this device is expected to occur at the end of July 2021.
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Conclusion:
EARS stock is facing bearish sentiment despite recent positive news related to its preparations for the Covid-19 trail with BentrioTM. Investors should do deep research about company fundamentals, its history, developments, and future growth in order to make a better investment decision.