OTIC - Otonomy GAAP EPS of -$0.18

• Otonomy press release ( NASDAQ: OTIC ): Q3 GAAP EPS of -$0.18.
• Cash Position: Cash and cash equivalents totaled $40.1 million as of September 30, 2022, compared to $77.4 million as of December 31, 2021.
• Operating Expenses: GAAP operating expenses were $11.8 million for the third quarter of 2022, compared to $12.5 million for the third quarter of 2021. Non-GAAP operating expenses, which exclude stock-based compensation, were $10.5 million for the third quarter of 2022, compared to $10.7 million for the third quarter of 2021.
• Research and Development Expenses: GAAP research and development (R&D) expenses for the third quarter of 2022 were $8.4 million, compared to $9.0 million for the third quarter of 2021. The decrease for the quarter was primarily due to lower third-party development costs for Otonomy’s product candidates.
• Selling, General and Administrative Expenses: GAAP selling, general and administrative (SG&A) expenses in the third quarter of 2022 were $3.4 million, compared to $3.5 million for the second quarter of 2021.

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