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Otonomy reports 4Q loss

SAN DIEGO (AP) _ Otonomy Inc. (OTIC) on Thursday reported a loss of $26.6 million in its fourth quarter.

The San Diego-based company said it had a loss of 88 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1 per share.

The biotechnology company posted revenue of $273,000 in the period.

For the year, the company reported a loss of $110.6 million, or $3.69 per share. Revenue was reported as $683,000.

Otonomy shares have fallen 3.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.35, an increase of slightly more than 4 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OTIC at https://www.zacks.com/ap/OTIC


Keywords: Otonomy, Earnings Report