Sensorion announced on Thursday its intention to present 'promising' results at an upcoming conference dedicated to cochlear implants.

The biotech company, which specializes in hearing loss, says that these favorable new data, together with analyses of the results of its latest clinical study, will be unveiled at the CI2024 congress to be held next month in Vancouver (Canada).

At the presentation, scheduled for July 13, Professor Stephen O'Leary will present the results of the Phase 2a clinical trial on SENS-401, his lead drug candidate in the prevention of residual hearing loss after cochlear implantation, for which he is principal investigator.

The study is being conducted in collaboration with partner Cochlear, an implantable hearing aid manufacturer with which it entered into a partnership in 2017.

Under this agreement, Cochlear will have an option, exercisable once all the data from this study are available, to negotiate with Sensorion the rights to a worldwide license to distribute SENS-401 for applications and uses related to certain implantable devices.

After gaining over 4% in early trading following these announcements, Sensorion shares were down over 1% at lunchtime on Thursday.

Copyright (c) 2024 CercleFinance.com. All rights reserved.