Plus   Neg

Otonomy Q4 Loss Narrows

Otonomy, Inc. (OTIC), Monday reported fourth-quarter net loss of $12.8 million or $0.42 per share, narrower than last year's net loss of $18.8 million or $0.62 per share.

Product sales were $208 thousand, compared to $270 thousand last year.

Analysts polled by Thomson Reuters estimate loss of $0.48 per share and revenues of $110 thousand for the quarter. Analysts estimates typically exclude one-time items.

"Our accomplishments in 2018 have positioned the company for significant advancement in 2019 as we continue enrollment of our Phase 3 trial of OTIVIDEX in Ménière's disease, initiate Phase 1/2 clinical trials for OTO-313 in tinnitus and OTO-413 in hearing loss, and work towards delivering value-creating results for all three clinical trials in 2020," said David A. Weber, Ph.D., president and CEO of Otonomy.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The media mogul and Billionaire Sumner Redstone passed away on Tuesday at the age of 97, his family's holding company National Amusements said in a statement on Wednesday. He was Chairman Emeritus of ViacomCBS and chief executive officer of National Amusements. Customers in the U.S. are preferring digital or touchless payment methods due to concerns arising from the COVID-19 pandemic, a survey said. According to the survey by Rapyd Financial Network, the coronavirus pandemic has raised health and safety concerns around using cash and coins, and is accelerating the pre-existing trend toward digital transactions. American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until December 31, 2020 in response to lower travel demand due to the coronavirus pandemic. This means that the travelers need not pay penalties for changing the origin and destination cities.
Follow RTT