OTIC - Otonomy reports positive results from phase 2a trial of OTO-413 in hearing loss patients

Otonomy (NASDAQ:OTIC) on Wednesday announced what it deemed to be positive results from its phase 2a trial of its formulation OTO-413 in patients with hearing loss. OTIC stock was volatile in premarket trading, gaining and losing as much as 17.5% each to $2.55 and $1.79, respectively. Shares were last +3.7% at $2.25. The trial showed that an injection of 0.3 mg OTO-413 provided clinically meaningful treatment benefit versus placebo across multiple efficacy endpoints. The trial results supported the clinical activity of OTO-413 as observed in the prior phase 1/2 trial. The company said enrollment of subjects in higher dose cohorts is ongoing, with results expected in H2 2022. OTIC expects to start full dose-ranging phase 2 efficacy trial by 2022-end.

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Otonomy reports positive results from phase 2a trial of OTO-413 in hearing loss patients