Australia's Nuheara jumps on agreement to expand into U.S. hearing aid market

InnerScope Hearing Technologies

12/12/2022 01:35

** Shares of Nuheara Ltd  NUH.AX  climb as much as 11.9% to
A$0.235, their best session since Nov. 4, if gains hold
    ** Hearing-aid device maker says it signed a memorandum of
understanding (MoU) with U.S.-listed InnerScope Hearing
Technologies  INND.PK  to expand its retail footprint in the
United States
    ** The MoU follows a recent receipt of U.S. Food and Drug
Administration clearance of NUH's self-fitting over-the-counter 
hearing aid
    ** Co's products will be marketed to Walmart, Rite Aid, and
other pharmacy brands, among others
    ** Stock down about 36% so far this year, as of last close
 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))