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Otonomy, Inc. (Nasdaq: OTIC) announced financial results for Q2 2021, reporting cash reserves of $97.9 million, up from $86.3 million at year-end 2020. The company is advancing its clinical trials, with results for OTO-313 and OTO-413 expected mid-2022. OTO-825's IND filing is anticipated in H1 2023. The total GAAP operating expenses for Q2 were $12 million, higher than the previous year's $10.6 million. Operating expense guidance for 2021 is set between $46-$48 million. A conference call is scheduled for today at 4:30 p.m. ET.
Otonomy, Inc. (OTIC) will announce its second-quarter 2021 financial results and provide a corporate update on August 4, 2021, at 4:30 p.m. ET. Investors can access the live call by dialing (877) 305-6769 for domestic and (678) 562-4239 for international callers, using conference ID 8157418. The call will be available as a live webcast on the company's investor relations website. Otonomy is focused on developing innovative therapeutics for neurotology, especially addressing hearing loss and tinnitus through its unique drug delivery technology.
Otonomy, Inc. (NASDAQ: OTIC) has initiated an expansion study for its Phase 1/2 clinical trial of OTO-413, targeting speech-in-noise hearing difficulties. This randomized, double-blind, placebo-controlled study will involve approximately 30 patients, where 20 will receive OTO-413 and 10 will receive a placebo. Following treatment, patients will be assessed over three months using clinically-validated hearing tests. Initial results showed OTO-413 had a higher response rate than placebo, and top-line results from the expansion study are expected in mid-2022.
Otonomy, Inc. (NASDAQ: OTIC) has announced preclinical proof-of-concept results for OTO-825, a gene therapy addressing congenital hearing loss due to GJB2 deficiency. At the ASGCT Annual Meeting, Otonomy highlighted that a single administration of OTO-825 rescues hearing and cochlear damage in two preclinical models. Importantly, OTO-825 successfully induced Connexin26 expression and improved hearing across multiple frequencies, validating its therapeutic potential. With approximately 30% of congenital hearing loss cases linked to GJB2 mutations, these results support the advancement of OTO-825 into IND enabling activities.
Otonomy, Inc. (OTIC) reported financial results for Q1 2021 and updated its product pipeline, focusing on therapies for hearing loss and tinnitus. Key trials include the Phase 2 trial of OTO-313 for tinnitus, which began in May with results expected mid-2022. The Phase 1/2 trial expansion for OTO-413 in hearing loss is scheduled for Q2 2021. A recent public offering raised approximately $34.7 million, extending cash runway into H2 2023. GAAP operating expenses for Q1 were $11.7 million, slightly up from $11.5 million in Q1 2020.
Otonomy, Inc. (Nasdaq: OTIC) will announce its first quarter 2021 financial results and corporate update on May 11, 2021, at 4:30 p.m. ET. The live call is accessible by phone or through a webcast on Otonomy's investor relations website. Otonomy focuses on developing innovative therapeutics for neurotology, utilizing unique drug delivery technology for sustained drug exposure, particularly in addressing hearing loss and tinnitus. The company holds a significant patent portfolio in this field. Further details can be found on their website.
Otonomy, Inc. (Nasdaq: OTIC) announced the upcoming presentation of preclinical proof-of-concept data for OTO-825 at the ASGCT Annual Meeting on May 13, 2021. This gene therapy targets the GJB2 gene, linked to congenital hearing loss. The study shows that OTO-825 restores hearing and improves cochlear damage in preclinical models. Following encouraging results, IND-enabling activities for OTO-825 have been initiated. The presentation titled AAV-mediated GJB2 gene therapy rescues hearing loss will occur at 6:30 p.m. EDT.
Otonomy, Inc. (NASDAQ: OTIC) has successfully closed its underwritten public offering, raising approximately $34.7 million through the sale of 8,298,890 shares of common stock and pre-funded warrants for an additional 7,111,110 shares. The offering included the full exercise of the underwriters' option to purchase additional shares. Cowen and Piper Sandler acted as joint book-running managers for this offering. The securities were sold under a previously effective shelf registration statement with the SEC. No solicitation or offer has been made in jurisdictions where it would be unlawful.
Otonomy, Inc. (Nasdaq: OTIC) has announced a public offering of 6,288,890 shares of common stock priced at $2.25 each, alongside pre-funded warrants for an additional 7,111,110 shares at $2.249 each. The offering is projected to raise approximately $30.1 million, excluding costs. A 30-day option for underwriters to purchase an extra 2,010,000 shares is also included. The offering is expected to close around April 12, 2021, subject to conditions. Cowen and Piper Sandler are managing the offering.
Otonomy, Inc. (Nasdaq: OTIC) has announced an underwritten public offering of its common stock to raise capital for its neurotology therapeutics. Shares will be offered by Otonomy, which may include pre-funded warrants. The underwriters will have a 30-day option to purchase an additional 15% of the shares. The offering's final terms will be detailed in a prospectus supplement filed with the SEC. The offering is contingent upon market conditions, with no assurance on its completion or size.
