Auris announces pricing of public offering to support ear therapies

Auris Medical Holding AG announced the pricing of its initial public offering of 9.4 million of its common shares at an initial public offering price of USD 6.00 per common share. According to a press release of the biotech start-up with offices in Basel and Zug, Auris Medical has granted the underwriters an option to purchase up to 1.41 millione additional common shares. After deducting the underwriting discounts and other estimated offering expenses, the net proceeds of the initial public offering are expected to be approximately USD 51 million. The offering is expected to close on or about August 11, 2014. Auris Medical is a Swiss biopharmaceutical that develops therapeutics for unmet medical needs in otolaryngology. The Company is currently focusing on the development of treatments for acute inner ear tinnitus and for acute inner ear hearing loss. The complete press release of Auris Medical News of FierceBiotech