Auris Medical skyrocketed as high as 480% on Tuesday.<br />The surge followed the announcement that its nasal spray, AM-301, could potentially protect against the coronavirus.<br />Business Insider reports that the clinical-stage company tested its spray using human nasal cells in a laboratory setting.<br />Researchers found that cells treated with AM-301 right before inoculation of the coronavirus saw effective protection.<br />In cells treated with the spray, the amount of coronavirus was 90% lower than control groups 48 hours after infection.<br />Shares of the Bermuda-based company are trading at over $5 per share, after closing at just $1.1 on Monday.
