Auris Medical Holding Ltd (NASDAQ:EARS) shares are trading higher by 12.7% at $4.16 Thursday morning after the company announced the acquisition of RNA therapeutics company Trasir Therapeutics and plans for strategic repositioning.

Auris Medical Holding is a clinical-stage biopharmaceutical company that develops therapeutics that address important unmet medical needs in neurotology, rhinology, allergy and CNS disorders.

Auris Medical has two projects in clinical development: Keyzilen for the treatment of acute inner ear tinnitus and Sonsuvi for the treatment of acute inner ear hearing loss. Its other product candidates are AM-125, AM-201, and AM-301. Auris Medical was founded in 1998 and is headquartered in Hamilton, Bermuda.