SAN DIEGO, Jan. 23, 2020 (GLOBE NEWSWIRE) -- 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 companys 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 Mnires 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:
Presentations related to Otonomys OTO-510 program for CIHL:
Presentations related to Otonomy's other clinical and preclinical hearing loss programs:
Joint presentation of data with research collaborators at the University of Washington related to preclinical evaluations of an age-related hearing loss model:
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 Mnires disease, hearing loss, and tinnitus. For additional information please visit http://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 Otonomys president and CEO. Otonomys 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: Otonomys limited operating history and its expectation that it will incur significant losses for the foreseeable future; Otonomys ability to accurately forecast financial results; Otonomys ability to obtain additional financing; Otonomys dependence on the regulatory success and advancement of its product candidates; the uncertainties inherent in the clinical drug development process, including, without limitation, Otonomys 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; Otonomys 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 Otonomys ability to repay or comply with the terms of the loan provided by Oxford Finance LLC; side effects or adverse events associated with Otonomys product candidates; Otonomys ability to successfully commercialize its product candidates, if approved; competition in the biopharmaceutical industry; Otonomys dependence on third parties to conduct nonclinical studies and clinical trials; Otonomys dependence on third parties for the manufacture of its product candidates; Otonomys dependence on a small number of suppliers for raw materials; Otonomys 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; Otonomys ability to manage operating expenses; implementation of Otonomys 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 Otonomys Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on November 5, 2019, and Otonomys 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 ScienceChlo-Anne RamseyVice President404.865.3601cramsey@spectrumscience.com
Investor Inquiries:Westwicke ICRRobert H. UhlManaging Director858.356.5932robert.uhl@westwicke.com
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Otonomy Announces Multiple Presentations at Association for Research in Otolaryngology Annual MeetingPreclinical results to be presented for GJB2 gene...
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