NEW YORK, September 16, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Otonomy,
Inc., (NASDAQ: OTIC). Select highlights from the internally
released reports are being made available to the general public
(included below), with access to the entirety of the research
available to new members.
Today, membership is open to readers on a complementary basis at
the following URL:
http://www.aciassociation.com/reports?keyword=OTIC
Highlights from our OTIC Report include:
- Second Quarter Results - On August 12, 2015, Otonomy, Inc., announced its
financial results for the second quarter ended June 30, 2015. The Company reported net loss of
$12.5 million in Q2 2015, against
$10.2 million reported in the Q2
2014. Operating expenses for the period totaled to $12.6 million, versus operating expenses of
$9.8 million in the previous year
period. Increase in operating expenses resulted from rise in
general and administrative expenses to $5.3
million, from $1.5 million in
the same period last year, primarily attributable to expanded
operating activities, costs associated with becoming a publicly
traded company and costs related to the Company's commercial
preparation activities. Whereas, research and development expenses
in Q2 2015 were $7.3 million,
compared with $8.3 million in Q2
2014.
- Year-to-Date Financial Highlights - In first six months
of 2015, the Company reported net loss of $24.6 million, compared to $21.1 million reported in the first half of 2014.
Total operating expenses for the period amounted to $24.7 million, higher than $20.4 million in the previous year period.
Research and development expenses of the Company stood at
$15.9 million, less than $17.3 million in prior year period. Whereas,
general and administrative expenses increased from $3.1 million in first half of 2014 to
$8.9 million in first six months of
2015.
- Recent Business Development - In May 2015, Otonomy reported completion of
enrollment in a Phase 2 clinical trial evaluating AuriPro for the
treatment of pediatric patients with acute otitis media with
tympanostomy tubes (AOMT). Further, in May
2015, the Company announced topline results from its Phase
2b trial evaluating OTO-104 in patients with unilateral Ménière's
disease.
- Anticipated Upcoming Milestones - The Company informed
that AuriPro's PDUFA action date is December
25, 2015. Contingent on FDA approval on or before this date,
Otonomy expects to launch AuriPro in the U.S. in the first quarter
of 2016. In addition, the Company projects to initiate two parallel
Phase 3 trials for OTO-104 in Ménière's patients, with the first
trial anticipated to begin by the end of 2015 and the second trial
expected to begin during the first quarter of 2016.
To find out how this influences our rating on Otonomy, Inc.,
read the full report in its entirety here:
http://www.aciassociation.com/reports?keyword=OTIC
--
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