Otonomy Announces Multiple Presentations at Society for Neuroscience Annual Meeting including OTO-413 Presentation Selected a...
October 30 2018 - 7:30AM
Otonomy, Inc. (NASDAQ: OTIC), a biopharmaceutical company
dedicated to the development of innovative therapeutics for
otology, today announced multiple presentations related to the
company's programs in hearing loss and tinnitus at the upcoming
Society for Neuroscience (SfN) Annual Meeting, to be held November
3-7, in San Diego. A presentation demonstrating the therapeutic
potential of OTO-413, a sustained-exposure otic formulation of
brain-derived neurotrophic factor (BDNF), for the repair of
cochlear synaptopathy in speech-in-noise hearing difficulties has
been selected by SfN as a Neuroscience 2018 Hot Topic.
“At Otonomy, we have a singular focus on understanding the
neuroscience of the ear and on delivering breakthrough treatments
to the millions living with the often debilitating effects of
conditions like tinnitus, Ménière’s disease and hearing loss.
Hearing loss, in particular, is an area of extreme unmet need that
can lead to social isolation, lower quality of life, and higher
rates of dementia and depression,” said David A. Weber, Ph.D.,
president and chief executive officer of Otonomy. “Recent
scientific advances have shown that the loss of synaptic
connections between inner ear hair cells and spiral ganglion
neurons contributes to speech-in-noise hearing difficulties. We are
thrilled that the Society for Neuroscience has chosen to highlight
data demonstrating the ability of OTO-413 to potentially repair
cochlear synaptopathy. We are also excited to advance OTO-413 into
clinical trials next year for patients with speech-in-noise hearing
difficulties, and expect that this will be the first such trial
evaluating a potential treatment for cochlear synaptopathy.”
Otonomy's presentations for the OTO-413 program are as
follows:
- Neuroscience 2018 Hot Topic: "Development of
intratympanically administered neurotrophic factor BDNF for the
treatment of speech-in-noise hearing difficulties (cochlear
synaptopathy)" by Jacques et al., poster presentation on November 6
from 9:00 a.m. – 12:00 p.m. PST.
- "Effect of Trk receptor monoclonal antibodies and recombinant
neurotrophins on neuron survival, neurite morphology, and
synaptogenesis in rat ex vivo models relevant to hearing loss" by
Szobota et al., poster presentation on November 6 from 9:00 a.m. -
12:00 p.m. PST.
An additional presentation will be made related to Otonomy's
tinnitus program:
- "Preclinical and clinical development of OTO-311, a
sustained-exposure formulation of the NMDA receptor antagonist
gacyclidine, for the treatment of tinnitus" by Piu et al., poster
presentation on November 5 from 1:00 p.m. - 4:00 p.m. PST.
About OtonomyOtonomy is a biopharmaceutical
company dedicated to the development of innovative therapeutics for
otology. The company pioneered the application of drug delivery
technology to the ear in order to develop products that achieve
sustained drug exposure from a single local administration. This
approach is covered by a broad patent estate and is being utilized
to develop a pipeline of products addressing important unmet
medical needs including Ménière’s disease, hearing loss, and
tinnitus. For additional information please visit
www.otonomy.com.
Cautionary Note Regarding Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements generally relate to future events
or the future financial or operating performance of Otonomy.
Forward-looking statements in this press release include, but are
not limited to, the timing of the OTO-413 Phase 1/2 clinical study
in hearing loss patients, and statements by Otonomy’s president and
CEO. Otonomy's expectations regarding these matters may not
materialize, and actual results in future periods are subject to
risks and uncertainties. Actual results may differ materially from
those indicated by these forward-looking statements as a result of
these risks and uncertainties, including but not limited to:
Otonomy’s limited operating history and its expectation that it
will incur significant losses for the foreseeable future; Otonomy's
ability to obtain additional financing; Otonomy’s dependence on the
regulatory success and advancement of its product candidates; the
uncertainties inherent in the clinical drug development process,
including, without limitation, Otonomy’s ability to adequately
demonstrate the safety and efficacy of its product candidates, the
nonclinical and clinical results for its product candidates, which
may not support further development, and challenges related to
patient enrollment in clinical trials; Otonomy’s ability to obtain
regulatory approval for its product candidates; side effects or
adverse events associated with Otonomy’s product candidates;
Otonomy’s ability to successfully commercialize its product
candidates, if approved; competition in the biopharmaceutical
industry; Otonomy’s dependence on third parties to conduct
nonclinical studies and clinical trials; Otonomy’s dependence on
third parties for the manufacture of its product candidates;
Otonomy’s dependence on a small number of suppliers for raw
materials; Otonomy’s ability to protect its intellectual property
related to its product candidates in the United States and
throughout the world; expectations regarding potential market size,
opportunity and growth; Otonomy’s ability to manage operating
expenses; implementation of Otonomy’s business model and strategic
plans for its business, products and technology; and other risks.
Information regarding the foregoing and additional risks may be
found in the section entitled “Risk Factors” in Otonomy’s Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission (the “SEC”) on August 8, 2018, and Otonomy's future
reports to be filed with the SEC. The forward-looking statements in
this press release are based on information available to Otonomy as
of the date hereof. Otonomy disclaims any obligation to update any
forward-looking statements, except as required by
law.Contacts:
Media Inquiries:SpectrumLeticia DiazVice
President202.587.2517ldiaz@spectrumscience.com
Investor Inquiries:Westwicke PartnersRobert H. UhlManaging
Director858.356.5932robert.uhl@westwicke.com
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