Auris Medical skyrocketed as high as 480 on Tuesday.br The surge followed the announcement that its nasal spray, AM-301, could potentially protect against the coronavirus.br Business Insider reports that the clinical-stage company tested its spray using human nasal cells in a laboratory setting.br Researchers found that cells treated with AM-301 right before inoculation of the coronavirus saw effective protection.br In cells treated with the spray, the amount of coronavirus was 90 lower than control groups 48 hours after infection.br Shares of the Bermuda-based company are trading at over $5 per share, after closing at just $1.1 on Monday.