Otonomy (OTIC) Tops Q4 EPS by 8c

Otonomy (NASDAQ: OTIC) reported Q4 EPS of ($0.87), $0.08 better than the analyst estimate of ($0.95).

“During 2015 we achieved a number of significant milestones including receiving FDA approval of OTIPRIO for use in pediatric patients during ear tube surgery, initiating Phase 3 for OTO-104 in Ménière’s disease, initiating clinical development of OTO-311 for tinnitus, and acquiring assets and expanding our pipeline with the initiation of preclinical development of a fourth program targeting age-related hearing loss,” said David A. Weber, Ph.D., president and CEO of Otonomy. “We are focused on driving a successful launch of OTIPRIO and to that end, we have hired, trained, and deployed our highly experienced salesforce who are now calling on target customers. In addition, our recent financing has enabled us to expand the scope of our development efforts in 2016 to include a registration program for OTIPRIO in acute otitis externa and the initiation of a Phase 2 trial for OTO-104 in pediatric patients undergoing cisplatin chemotherapy treatment. We look forward to providing updates on OTIPRIO’s commercial launch which we believe, together with our advancing pipeline, should build significant value for shareholders throughout 2016.”

For earnings history and earnings-related data on Otonomy (OTIC) click here.

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