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Otonomy Inc's ear drug fails mid-stage trial

May 21 (Reuters) - Drug developer Otonomy Inc said its experimental drug did not meet the main goal of reducing the incidence of vertigo in a mid-stage trial in patients suffering from Ménière's disease.

Ménière's disease is a disorder of the inner ear causing progressive deafness, vertigo and ringing in the ears.

The company, however, said it plans to go ahead with two parallel late-stage trials. The first trial is expected to start by the end of the year.

(Reporting by Anjali Rao Koppala in Bengaluru; Editing by Don Sebastian)