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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of May, 2015

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Commission File Number: 001-36582

 

Auris Medical Holding AG

(Exact name of registrant as specified in its charter)

 

Bahnhofstrasse 21

6300 Zug, Switzerland

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F      X

Form 40-F  _____

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

 

Yes  _____

No      X

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

Yes  _____

No      X

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

			Auris Medical Holding AG
			By:	/s/ Thomas Meyer
				Name:	Thomas Meyer
				Title:	Chief Executive Officer

Date: May 28, 2015

 

 

 

 

EXHIBIT INDEX

 

Exhibit Number	Description
99.1	Unaudited Condensed Consolidated Interim Financial Information
99.2	Management’s Discussion and Analysis of Financial Condition and Results of Operations
99.3	Press Release dated May 28, 2015

 

 

 

 

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Exhibit 99.1

 

Unaudited Condensed Consolidated Interim Financial Information as of March 31, 2015 and for the Three Months Ended March 31, 2015 and 2014

 

 

Condensed Consolidated Interim Statement of Profit or Loss

Condensed Consolidated Interim Statement of Financial Position

Condensed Consolidated Interim Statement of Cash Flows

Selected Additional Information to the Consolidated Financial Information

 

AURIS MEDICAL HOLDING AG

Condensed Consolidated Interim Statement of Profit or Loss (unaudited)
For the Three Months Ended March 31, 2015 and 2014 (in CHF)

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	Note		THREE MONTHS ENDED MARCH 31, 2015				THREE MONTHS ENDED MARCH 31, 2014
Research and development				-6,229,896				-4,149,230
General and administrative				-929,919				-1,709,065
Operating loss				-7,159,815				-5,858,295
Finance income/expense (net)				-892,296				-1,666
Loss before tax				-8,052,111				-5,859,961
Net loss attributable to owners of the Company				-8,052,111				-5,859,961
Other comprehensive loss:
Items that will never be reclassified to profit or loss
Remeasurements of defined benefit liability				-228,865				-16,511
Items that are or may be reclassified to profit or loss
Foreign currency translation differences				18,361				5,490
Other comprehensive loss				-210,504				-11,021
Total comprehensive loss attributable to owners of the Company				-8,262,615				-5,870,982
Basic and diluted loss per share				-0.28				-0.32

 

AURIS MEDICAL HOLDING AG

Condensed Consolidated Interim Statement of Financial Position (unaudited)

As of March 31, 2015 and December 31, 2014

(in CHF)

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		Note		MARCH 31, 2015				DECEMBER 31, 2014
ASSETS
Non-current assets
Property and equipment					214,374				235,427
Intangible assets					1,482,520				1,482,520
Deferred tax asset					—				32,761
Total non-current assets					1,696,894				1,750,708
Current assets
Other receivables					501,481				542,538
Prepayments					190,036				265,170
Cash and cash equivalents					49,653,975				56,934,325
Total current assets					50,345,492				57,742,033
Total assets					52,042,386				59,492,741
EQUITY AND LIABILITIES
Equity
Share capital		3			11,605,656				11,604,156
Share premium					93,871,671				93,861,171
Foreign currency translation reserve					-32,747				-51,108
Accumulated deficit					-60,358,724				-52,131,426
Total shareholders’ equity attributable to owners of the Company					45,085,856				53,282,793
Non-current liabilities
Employee benefits		4			1,630,538				1,410,598
Deferred tax liabilities					327,637				360,398
Total non-current liabilities					1,958,175				1,770,996
Current liabilities
Trade and other payables					3,106,204				3,234,384
Accrued expenses					1,892,151				1,204,568
Total current liabilities					4,998,354				4,438,952
Total liabilities					6,656,530				6,209,948
Total equity and liabilities					52,042,386				59,492,741

 

AURIS MEDICAL HOLDING AG

Condensed Consolidated Interim Statement of Cash Flows (unaudited)

For the Three Months Ended March 31, 2015 and 2014 (in CHF)

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		Note		THREE MONTHS ENDED MARCH 31, 2015				THREE MONTHS ENDED MARCH 31, 2014
Cash flows from operating activities
Net loss					-8,052,111				-5,859,961
Adjustments for:
Depreciation					21,054				14,904
Unrealized net foreign currency exchange (gains) loss					979,506				5,880
Net interest (income)expense					-5,059				26,496
Share option costs					53,677				40,602
Employee benefits					-8,923				-268
Changes in net working capital					675,580				1,710,651
Cash used in operating activities					-6,336,276				-4,061,696
Cash flows from investing activities
Purchase of property and equipment					—				-79,836
Purchase of intangibles					—				-1,125,000
Interest received					5,059				23,139
Net cash used in investing activities					5,059				-1,181,697
Cash flows from financing activities
Proceeds from exercise of options		3			12,000				49,600
Share issuance costs					—				-136,699
Net cash from financing activities					12,000				-87,099
Net decrease in cash and cash equivalents					-6,319,217				-5,330,492
Cash and cash equivalents at beginning of the period					56,934,325				23,865,842
Net effect of currency translation on cash					-961,133				-327
Cash and cash equivalents at end of the period					49,653,975				18,535,023

 

AURIS MEDICAL HOLDING AG

Additional Information to the Consolidated Financial Information

as of March 31, 2015 and for the Three Months Ended March 31, 2015 and 2014 (in CHF)

 

1.

Reporting entity

 

Auris Medical Holding AG (the “Company”) is domiciled in Switzerland. The Company’s registered address is at Bahnhofstrasse 21, 6300 Zug. This consolidated interim financial information comprises the Company and its subsidiaries (together referred to as the “Group” and individually as “Group entities”). The Company is the ultimate parent of the following Group entities:

 

§

Auris Medical AG, Basel, Switzerland (100%)

§

Otolanum AG, Zug, Switzerland (100%)

§

Auris Medical Inc., Chicago, United States (100%)

§

Auris Medical Ltd., Dublin, Ireland (100%)

 

On April 22, 2014, we changed our name from Auris Medical AG to Auris Medical Holding AG and transferred our operational business to our newly incorporated subsidiary Auris Medical AG, which is now our main operating subsidiary. The Group is primarily involved in the development of pharmaceutical products for the treatment of inner ear disorders, in particular tinnitus and hearing loss. Its most advanced projects are in the late stage of clinical development.

 

2.

Basis of preparation

 

This interim financial information has been prepared using the same accounting policies and methods of computation as compared with the most recent annual financial statements. The financial information included herein is not intended to fully comply with IFRS, and in particular with IAS 34. New accounting standards that were applied in 2014 for the first time did not have an impact on the Company’s financial position, results or cash flows.

 

The financial information included herein has not been reviewed or audited by our auditors. Quarterly results are not necessarily indicative of results to be expected for the full year.

 

The Group has not early adopted any standard, interpretation or amendment that was issued but is not yet effective.

 

3.

Capital and reserves

 

Share capital

The issued share capital of the Company consisted of:

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		March 31, 2015								December 31, 2014
		Number				CHF				Number				CHF
Common shares with a nominal value of CHF 0.40 each			29,014,141				11,605,656				29,010,391				11,604,156
Total			29,014,141				11,605,656				29,010,391				11,604,156

 

All shares are fully paid in.

AURIS MEDICAL HOLDING AG

Additional Information to the Consolidated Financial Information
as of March 31, 2015 and for the Three Months Ended March 31, 2015 and 2014 (in CHF

Issue of common shares upon exercise of option

On January 21, 2014, three beneficiaries of Option Plan A exercised their right to acquire common shares of the Company at CHF 3.20 per share. This resulted in an increase in the number of outstanding common shares of 15,500 and an increase in the share capital of CHF 6,200. Total proceeds from the exercise to the company were CHF 49,600.

On January 23, 2015, one beneficiary of Option Plan A exercised his right to acquire common shares of the Company at CHF 3.20 per share. This resulted in an increase in the number of outstanding common shares of 3,750 and an increase in the share capital of CHF 1,500. Total proceeds from the exercise to the company were CHF 12,000.

IPO on NASDAQ Global Market

In August 2014 the Company completed its initial public offering of common shares (“IPO”) issuing 10,113,235 shares, including the underwriter’s overallotment option, yielding total net proceeds of CHF 51.3 million (USD 56.4 million). Following the IPO there were 28,954,510 common shares of the Company outstanding. At December 31, 2014 there were 29,010,391 shares outstanding due to exercise of options.

Pursuant to agreements with holders of the pre-IPO preferred shares, all preferred shares outstanding at the time of the IPO converted automatically into common shares at the ratio of 1:1 upon consummation of the IPO.

Issuance of preferred shares

In January 2014, a convertible loan was converted into 2,607,950 preferred shares Series C with a nominal value of CHF 0.40 at a conversion price of CHF 5.28 each.

AURIS MEDICAL HOLDING AG

Additional Information to the Consolidated Financial Information
as of March 31, 2015 and for the Three Months Ended March 31, 2015 and 2014 (in CHF

Accelerated Vesting for Stock Option Plan A

Option Plan A provided for the accelerated vesting of options under the plan in the case of an IPO, merger or change of control on the closing date of the respective transaction. The remaining share option expense for Option Plan A on the date of the closing of our IPO in August 2014 was included in the share option cost for the twelve months ending December 31, 2014.

On May 20, 2015, the Company completed a public offering of common shares, issuing an aggregate of 5,275,000 common shares, yielding net proceeds of CHF 21.4 million (USD 22.9 million) after underwriting discounts and estimated offering expenses. Following the offering there were 34,293,891 common shares of the Company outstanding.

Exhibit 99.2

Management’s Discussion and Analysis of Financial Condition and Results of Operations

This management’s discussion and analysis is designed to provide you with a narrative explanation of our financial condition and results of operations. We recommend that you read this in conjunction with our unaudited condensed consolidated interim financial information as of and for the three month periods ended March 31, 2015 and 2014 included as Exhibit 99.1 to this Report on Form 6-K. We also recommend that you read our management’s discussion and analysis and our audited consolidated financial statements, and the notes thereto, which appear in our Annual Report on Form 20-F (the ”Annual Report”), filed with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to the U.S. Securities Exchange Act of 1934, as amended.

Unless otherwise indicated or the context otherwise requires, all references to “Auris Medical” or the “company,” “we,” “our,” “ours,” “us” or similar terms refer to Auris Medical AG and its subsidiaries prior to the completion of our corporate reorganization in connection with our initial public offering, and Auris Medical Holding AG and its subsidiaries as of the completion of our corporate reorganization and thereafter.

We prepare and report our consolidated financial statements and financial information in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (the “IASB”). None of our financial statements were prepared in accordance with generally accepted accounting principles in the United States. We maintain our books and records in Swiss Francs. We have made rounding adjustments to some of the figures included in this management’s discussion and analysis. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that precede them. Unless otherwise indicated, all references to currency amounts in this discussions and analysis are in Swiss Francs.

This discussion and analysis is dated as of May 28, 2015.

Overview

We are a clinical-stage biopharmaceutical company focused on the development of novel products for the treatment of inner ear disorders. Our most advanced product candidate, AM-101, is in Phase 3 clinical development for acute inner ear tinnitus under an SPA from the FDA. In two recently completed Phase 2 clinical trials, AM-101 demonstrated a favorable safety profile and statistically significant improvement in tinnitus loudness and other patient reported outcomes. We expect to have top-line Phase 3 clinical data for AM-101 in the first quarter of 2016. We are also developing AM-111 for acute inner ear hearing loss. We are preparing two pivotal clinical trials of AM-111 in the treatment of idiopathic sudden sensorineural hearing loss, or ISSNHL, titled HEALOS and ASSENT. We expect to start enrollment in HEALOS in the third quarter of 2015 and in ASSENT in the first quarter of 2016. In addition, we are preparing a Phase 2 trial titled REACH in order to test AM-111 in the treatment of surgery-induced hearing loss following cochlear implantation. We expect to start enrollment in REACH in the third quarter of 2016. Both acute inner ear tinnitus and hearing loss are conditions for which there is high unmet medical need, and we believe that we have the potential to be the first to market in these indications.

To date, we have financed our operations through public offerings of our common shares, private placements of equity securities and short term loans. We have no products approved for commercialization and have never generated any revenues from royalties or product sales. As of March 31, 2015, we had cash and cash equivalents of CHF 49.7 million. Based on our current plans, we do not expect to generate royalty or product revenues unless and until we obtain marketing approval for, and commercialize, AM-101, AM-111 or any of our other product candidates.

Since inception, we have incurred significant operating losses. We incurred net losses (defined as net losses attributable to the owners of the Company) of CHF 18.2 million and CHF 15.0 million for the years ended December 31, 2014 and 2013, respectively. As of March 31, 2015, we had an accumulated deficit of CHF 60.4 million. We expect to continue incurring losses as we continue our

clinical and preclinical development programs, apply for marketing approval for our product candidates and, subject to obtaining regulatory approval of our product candidates, build a sales and marketing force in preparation for the potential commercialization of our product candidates.

Recent Developments

On May 20, 2015 we completed a public offering of common shares pursuant to a Registration Statement on Form F-1, as amended (Registration No. 333-203554). Under the registration statement, we sold an aggregate of 5,275,000 common shares, yielding net proceeds of $22.9 million (CHF 21.4 million) after underwriting discounts and estimated offering expenses.

Collaboration and License Agreements

There have been no material changes to our collaboration and license agreements from those reported in “Management’s Discussion and Analysis of Financial Condition and Results of Operations–Collaboration and License Agreements” in the Annual Report.

Research and Development Expense

Our research and development expense is highly dependent on the development phases of our research projects and therefore may fluctuate substantially from period to period. Our research and development expense mainly relates to the following key programs:

·         AM-111. We are preparing two pivotal clinical trials of AM-111 in the treatment of idiopathic sudden sensorineural hearing loss, or ISSNHL, titled HEALOS and ASSENT. We expect to start enrollment in HEALOS in the third quarter of 2015 and in ASSENT in the first quarter of 2016. In addition, we are preparing a Phase 2 trial titled REACH in order to test AM-111 in the treatment of surgery-induced hearing loss following cochlear implantation. We expect to start enrollment in REACH in the third quarter of 2016. We anticipate that our research and development expenses will increase substantially in connection with commencement of these clinical trials.

For a discussion of our other key financial statement line items, please see “Management’s Discussion and Analysis of Financial Condition and Results of Operations–Financial Operations Overview” in the Annual Report.

Results of Operations

The numbers below have been derived from our unaudited condensed consolidated interim financial information as of and for the three month periods ended March 31, 2015 and 2014. The discussion below should be read along with this financial information, and it is qualified in its entirety by reference to it.

Comparison of the three months ended March 31, 2015 and 2014

Research and development expense

Research and development expense increased 50% from CHF 4.1 million in the three months ended March 31, 2014 to CHF 6.2 million in the three months ended March 31, 2015. The variances in expense between the three months ended March 31, 2015 and the corresponding period in 2014 are mainly due to the following projects:

General and administrative expense

General and administrative expense decreased 46% from CHF 1.7 million in the three months ended March 31, 2014 to CHF 0.9 million in the three months ended March 31, 2015. While employee

costs increased over the previous reporting period, legal and auditing expenses were substantially lower. In the three months ending March 31, 2014 substantial costs had been incurred in connection with preparations for our initial public offering.

We expect that general and administrative expense will increase in the future as our business expands and we incur additional costs associated with operating as a public company.

Net Finance income/expense

Finance expense increased significantly to CHF 0.9 million in the three months ended March 31, 2015 primarily due to the marked appreciation of the Swiss Franc against the U.S. Dollar and the Euro, which resulted in substantial unrealized currency losses on cash and cash equivalents held in foreign currency.

Cash flows

Comparison of the three months ended March 31, 2015 and 2014

The table below summarizes our consolidated statement of cash flows for the three months ended March 31, 2015 and 2014:

The increase in cash used in operating activities from CHF 4.1 million in the three months ended March 31, 2014 to CHF 6.3 million in the three months ended March 31, 2015 was mainly due to higher research and development expenses, which more than offset the increase in accrued liabilities and lower general and administrative expenses.

Net cash used in investing activities was insignificant in the three months ended March 31, 2015. In the three months ended March 31, 2014, net cash used in investing was comprised mainly of a milestone payment to Xigen S.A.

Net cash from financing activities of CHF 12,000 in the three months ended March 31, 2015 represents proceeds from the exercise of employee stock options. In the three months ended March 31, 2014 net cash used in financing activities was CHF 87,099, reflecting the net effect of proceeds from the exercise of stock options that were more than offset by payment of stamp duties in relation to the conversion of the convertible loan from our pre-initial public offering Series C shareholders.

Cash and funding sources

As of March 31, 2015, we had no long term debt and had no ongoing material financial commitments, such as lines of credit or guarantees that are expected to affect our liquidity over the next five years, other than leases.

Funding requirements

We believe that after the closing of our public offering on May 20, 2015, our existing cash and cash equivalents will enable us to fund our operating expenses and capital expenditure requirements at least until fall 2017. We have based this estimate on assumptions that may prove to be wrong, and we could use our capital resources sooner than we currently expect. Our future funding requirements will depend on many factors, including but not limited to:

We expect that we will require additional capital to commercialize our product candidates AM-101 and AM-111. If we receive regulatory approval for AM-101 or AM-111, and if we choose not to grant any licenses to partners, we expect to incur significant commercialization expenses related to product manufacturing, sales, marketing and distribution, depending on where we choose to commercialize. Additional funds may not be available on a timely basis, on favorable terms, or at all, and such funds, if raised, may not be sufficient to enable us to continue to implement our long-term business strategy. If we are not able to raise capital when needed, we could be forced to delay, reduce or eliminate our product development programs or commercialization efforts.

We may raise additional capital through the sale of equity or convertible debt securities. In such an event, your ownership interest will be diluted, and the terms of these new securities may include liquidation or other preferences that adversely affect your rights as a holder of our common shares.

For more information as to the risks associated with our future funding needs, see “Risk Factors” in the Annual Report.

Contractual Obligations and Commitments

There have been no material changes to our contractual obligations outside the ordinary course of our business from those reported in “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Contractual Obligations and Commitments” in the Annual Report.

Off-balance sheet arrangements

As of the date of this discussion and analysis, we do not have any, and during the periods presented we did not have any, off-balance sheet arrangements except for the Operating Lease mentioned in “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Contractual Obligations and Commitments” in the Annual Report.

Significant Accounting Policies and Use of Estimates and Judgment

There have been no material changes to the significant accounting policies and estimates described in “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Significant accounting policies and use of estimates and judgment” in the Annual Report.

Recent Accounting Pronouncements

Except for IFRS 9 for which the impact cannot be determined with sufficient reliability, there are no IFRS standards as issued by the IASB or interpretations issued by the IFRS interpretations committee that are effective for the first time for the financial year beginning on or after January 1, 2015 that would be expected to have a material impact on our financial position.

JOBS Act Exemption

On April 5, 2012, the JOBS Act was signed into law. The JOBS Act contains provisions that, among other things, reduce certain reporting requirements for an “emerging growth company.” As an emerging growth company, we are not required to provide an auditor attestation report on our system of internal controls over financial reporting. This exemption will apply for a period of five years following the completion of our initial public offering (2019) or until we no longer meet the requirements of being an “emerging growth company,” whichever is earlier. We would cease to be an emerging growth company if we have more than $1.0 billion in annual revenue, have more than $700 million in market value of our common shares held by non-affiliates or issue more than $1.0 billion of non-convertible debt over a three-year period.

Cautionary Statement Regarding Forward Looking Statements

Forward-looking statements appear in a number of places in this discussion and analysis and include, but are not limited to, statements regarding our intent, belief or current expectations. Many of the forward-looking statements contained in this discussion and analysis can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to of various factors, including, but not limited to, those identified under the section entitled “Risk Factors” in the Annual Report. These risks and uncertainties include factors relating to:

  Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.

Exhibit 99.3

Auris Medical News Release

Auris Medical Holding AG Reports First Quarter 2015 Financial Results and Provides Business Update

Zug, Switzerland, May 28, 2015 – Auris Medical Holding AG (NASDAQ: EARS) today provided an update on the Company’s business and announced financial results for the first quarter ended March 31, 2015.

"Auris Medical continued to make strong progress in the first months of 2015," commented Thomas Meyer, the Company’s founder, Chairman and CEO. "Enrollment into our AM-101 Phase 3 trials in the treatment of acute inner ear tinnitus advanced well, and through our recent equity raise we laid the groundwork for moving forward with an expanded AM-111 late-stage clinical development program. The treatment of acute inner ear hearing loss with AM-111 addresses an important unmet medical need and represents a substantial commercial opportunity for Auris Medical.”

Recent Business Highlights

post-acute tinnitus stratum of the TACTT3 trial continued with patients with tinnitus onset between 3 and 6 months prior to enrollment.

Financial Results

As of March 31, 2015, the Company had CHF 49.7 million in cash and cash equivalents. Operating expenses for the three months ended March 31, 2015 were CHF 7.2 million, with CHF 6.2 million attributable to research and development. This compares to operating expenses of CHF 5.9 million and research and development expenses of CHF 4.1 million for the same period in 2014. Net finance expenses were CHF 0.9 million primarily due to the strengthening of the Swiss Franc against the U.S. dollar and the Euro, which resulted in substantially higher unrealized losses on foreign currency positions. The Company reported a net loss for the quarter ended March 31, 2015 of CHF 8.1 million, or CHF 0.28 per share. This compares to a net loss of CHF 5.9 million, or CHF 0.32 per share, for the same period in 2014.

The increase in operating expenses, and resulting increase in operating loss, for the three-month period ended March, 2015 over the comparable period in 2014 primarily reflect the progression of the AM-101 Phase 3 clinical development program, preparations for the late stage AM-111 clinical program, headcount expansion, and higher legal and auditing expenses related to being a public company.

The Company expects operating expenses for the 2015 financial year to be in the range of CHF 30.0 to 35.0 million, including spending on advancing the AM-111 late-stage program. This outlook is based on management’s current expectations and beliefs.

Conference Call / Webcast Information

Auris Medical will host a live conference call and webcast to discuss the Company's financial results and provide a general business update. The call is scheduled for May 28, 2015 at 8:00 a.m. Eastern Time (2:00 p.m. Central European Time).

To participate in this conference call, dial 1 855 217 7942 (USA) or +1 646 254 3372 (International), and enter passcode 5198101. A live, listen-only audio webcast of the conference call can be accessed on the Investor Relations section of the Auris Medical website at: www.aurismedical.com. A replay will be available approximately two hours following the live call also on the Company’s website.

About Auris Medical

Auris Medical is a Swiss biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in otolaryngology. The Company is currently focusing on the development of treatments for acute inner ear tinnitus (AM-101) and for acute inner ear hearing loss (AM-111) by way of intratympanic injection with biocompatible gel formulations. In addition, Auris Medical is pursuing early-stage research and development projects. The Company was founded in 2003 and is headquartered in Zug, Switzerland. The shares of the parent company Auris Medical Holding AG trade on the NASDAQ Global Market under the symbol "EARS".

Forward-looking Statements

This press release may contain statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical fact and may include statements that address future operating, financial or business performance or Auris Medical’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include, but are not limited to, the timing and conduct of clinical trials of Auris Medical’s product candidates, the clinical utility of Auris Medical’s product candidates, the timing or likelihood of regulatory filings and approvals, Auris Medical’s intellectual property position and Auris Medical’s financial position, including the impact of any future acquisitions, dispositions, partnerships, license transactions or changes to Auris Medical’s capital structure, including future securities offerings. These risks and uncertainties also include, but are not limited to, those described under the caption “Risk Factors” in Auris Medical’s Annual Report on Form 20-F, and future filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and Auris Medical does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement.

Auris Medical Holding AG

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (unaudited)

(in CHF thousands, except share and currency data)

Auris Medical Holding AG

Condensed Consolidated Statement of Financial Position (unaudited)

(in CHF thousands)

Auris Medical Holding AG

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (unaudited)

(convenience presentation in USD thousands, except share data)

Solely for the convenience of the reader, unless otherwise indicated, all Swiss Franc amounts stated in the Condensed Consolidated Statement of Profit and Loss for the 3 months ended March 31, 2015 and March 31, 2014, have been translated into U.S. dollars at the rate on March 31, 2015 of USD 1.0288 / CHF 1.00. These translations should not be considered representations that any such amounts have been, could have been or could be converted into U.S. dollars at that or any other exchange rate as at that or any other date.

Auris Medical Holding AG

Condensed Consolidated Statement of Financial Position (unaudited)

(convenience presentation in USD thousands)

Solely for the convenience of the reader, unless otherwise indicated, all Swiss Franc amounts stated in the Condensed Consolidated Statement of Financial Position as at March 31, 2015 and December 31, 2014, have been translated into U.S. dollars at the rate on March 31, 2015 of USD 1.0288 / CHF 1.00. These translations should not be considered representations that any such amounts have been, could have been or could be converted into U.S. dollars at that or any other exchange rate as at that or any other date.

Company: Dr. Thomas Meyer, Chairman and CEO, +41 41 729 71 94, ear@aurismedical.com

Investors: Matthew P. Duffy, Managing Director, LifeSci Advisors, 212-915-0685, matthew@lifesciadvisors.com