Auris Medical Holding AG got a surprise boost to its stock price Wednesday as investors mistakenly bought shares of the drug developer after Johnson & Johnson agreed to buy a similarly named robotics company for US$3.4 billion.

Auris Medical rose 9.4 per cent at 10:40 a.m. in New York after earlier rising as much as 30 per cent. The last time the stock rose more than that was Jan. 23, when Bloomberg News first said that J&J was pursuing an acquisition of closely held Auris Health Inc.

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