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