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OTONOMY, INC.

otonomy.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Nov 10, 2022. Its latest SEC filing is a 15-12G from Apr 4, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Develops locally delivered drug treatments for tinnitus and hearing loss for patients with ear disorders.

How Did They Make Money?

FY2021 revenue

Did Revenues Turn Into Profits?

No. It lost $51.2M in FY2021.

Operating income, FY2021
−39700% of revenue
▲ +14% (Loss) vs FY2020 (−$43.5M, −15929%)
Net income, FY2021
−40945% of revenue
▲ +14% (Loss) vs FY2020 (−$44.7M, −16385%)
Free cash flow, FY2021
−34170% of revenue
▲ +9% (Loss) vs FY2020 (−$39M, −14289%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q3 FY2022, the three months to Sep 30, 2022
Revenue
vs $0 in Q3 FY2021
Net income
▼ −6% (Loss)
vs −$12.9M in Q3 FY2021
  • Mar 28, 2023 Otonomy filed for dissolution after stockholders approved the plan The company filed its certificate of dissolution and approved a $0.11-per-share liquidating distribution.
  • Jan 30, 2023 Otonomy agreed to sell assets from its drug development programs It agreed to sell OTO-825 assets to Prevail and data and rights tied to other programs to Spiral and Dompé.
  • Dec 19, 2022 Otonomy approved a plan to liquidate and dissolve It paused product development and terminated all employees as it prepared to wind down operations.

Shrank. Revenue fell 90% in 4 years, from $1.2M in FY2017 to $125K in FY2021, about 44% a year.

A former marketed product The older report described OTIPRIO as approved, commercially launched, and available for purchase; the latest report no longer includes it among current products and focuses on development programs.

A broader hearing-loss pipeline The older report described three hearing-loss programs, while the latest report adds a gene therapy program for congenital hearing loss and describes four programs targeting different hearing-loss causes.

Who Did They Compete With?

Competes with Altamira Therapeutics, Autifony Therapeutics, Merz Pharmaceuticals GmbH, Novartis, Fennec Pharmaceuticals, Metarmor, Strekin, Sound Pharmaceuticals, Audion Therapeutics, Sensorion, Frequency Therapeutics, Otologic Pharmaceutics, Decibel Therapeutics, Spiral Therapeutics, Pipeline Therapeutics, Akouos, and BridgeBio Pharma

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