Deals

Case of Mistaken Identity Sends Auris Medical Shares Soaring 30%

Patients Fighting For Their Lives, and Helping Drug Companies While They're At It — Photographer: Dhiraj Singh/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Cristin Flanagan

February 13, 2019 at 3:42 PM UTC

This article is for subscribers only.

Auris Medical Holding AG got a surprise boost to its stock price Wednesday as investors mistakenly bought shares of the drug developer after Johnson & Johnson agreed to buy a similarly named robotics company for $3.4 billion.

Auris Medical rose 9.4 percent at 10:40 a.m. in New York after earlier rising as much as 30 percent. The last time the stock rose more than that was Jan. 23, when Bloomberg News first said that J&J was pursuing an acquisition of closely held Auris Health Inc.