Otonomy Q4 Loss Narrows

(RTTNews) - 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.