Otonomy Announces Multiple Presentations at Association for Research in Otolaryngology Annual Meeting
January 23 2020 - 7:30AM
Otonomy, Inc. (Nasdaq: OTIC), a biopharmaceutical company
dedicated to the development of innovative therapeutics for
neurotology, today announced multiple presentations at the upcoming
Association for Research in Otolaryngology (ARO) 43rd Annual
MidWinter Meeting, to be held January 25-29, in San Jose,
California. These presentations include initial preclinical results
from the company’s gene therapy collaboration with Applied Genetic
Technologies Corporation (Nasdaq: AGTC) focused on GJB2 deficiency,
the most common cause of congenital hearing loss, and demonstration
of otoprotection for a class of compounds Otonomy is evaluating in
preclinical studies for cisplatin-induced hearing loss (CIHL).
“Our multiple presentations at ARO again this year highlight our
broad pipeline in neurotology, with data to be presented in support
of our programs addressing the treatment of both inherited and
acquired forms of hearing loss as well as protection against
cisplatin ototoxicity," said David A. Weber, Ph.D., president and
chief executive officer of Otonomy. “While our highest priority
during 2020 is the successful completion of our three ongoing
clinical trials, including the Phase 3 trial of OTIVIDEX™ in
Ménière’s disease, we remain committed to the advancement of our
multiple preclinical programs that address important unmet needs in
neurotology.”
All Otonomy presentations are during poster sessions occurring
from 1 to 4 p.m. PST on the days indicated below.
Joint presentation with AGTC related to the GJB2 gene therapy
program:
- "Ex vivo assessment of AAV capsid variant tropism and safety in
rat cochlea" by Uribe et al., on January 27.
Presentations related to Otonomy’s OTO-510 program for CIHL:
- "Ex vivo evaluation of the therapeutic potential of several
drug classes to prevent cisplatin mediated ototoxicity in the rat
cochlea” by Mathur et al., on January 26.
- "Evaluations of various therapeutic classes in protection
against cisplatin-induced hearing loss (preclinical models)" by
Tsivkovskaia et al., on January 26.
Presentations related to Otonomy's other clinical and
preclinical hearing loss programs:
- "Characterization of OTO-413, an intratympanic
sustained-exposure formulation of the neurotrophic factor BDNF, in
preclinical models of cochlear synaptopathy" by Tsivkovskaia et
al., on January 26.
- "Comparisons of single versus combinatorial strategies for hair
cell regeneration in cochlear explants" by Uribe et al., on January
27.
Joint presentation of data with research collaborators at the
University of Washington related to preclinical evaluations of an
age-related hearing loss model:
- "Age-related hearing loss in zebrafish:
surprising senescence in an animal with continuous hair cell
turnover" by Coffin et al., on January 28.
About Otonomy
Otonomy is a biopharmaceutical company dedicated to the
development of innovative therapeutics for neurotology. 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, timing of results of ongoing clinical trials,
including the Phase 3 clinical trial for OTIVIDEX;
expectations regarding advancement of preclinical programs; the
potential benefits of and activity under the collaboration
agreement between AGTC and Otonomy, including but not limited to
development activity; 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 accurately forecast financial results; 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; the risks of the
occurrence of any event, change or other circumstance that could
give rise to the termination of the collaboration agreement between
AGTC and Otonomy; the risks of the occurrence of any event, change
or other circumstance that could impact Otonomy’s ability to repay
or comply with the terms of the loan provided by Oxford Finance
LLC; 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 therapy
benefits, 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 November 5, 2019,
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:Spectrum ScienceChloé-Anne RamseyVice
President404.865.3601 cramsey@spectrumscience.com
Investor Inquiries:Westwicke ICRRobert H. UhlManaging
Director858.356.5932robert.uhl@westwicke.com
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