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BRIEF-Otonomy reiterates financial guidance, says non-gaap operating expenses for 2017 would not exceed 2016
October 7, 2016 / 12:26 PM / a year ago

BRIEF-Otonomy reiterates financial guidance, says non-gaap operating expenses for 2017 would not exceed 2016

Oct 7 (Reuters) - Otonomy Inc :

* Otonomy holds investor and analyst day and provides corporate update

* Reiterated its financial guidance that non-gaap operating expenses for 2017 would not exceed 2016

* 2017 cash burn is expected to decline from 2016 due to flat operating expense level combined with expected increases in otiprio revenue

* Otonomy reiterated its financial guidance that non-gaap operating expenses for 2016 would total $100-$105 million

* Two identical phase 3 trials for oto-104 in ménière’s disease are ongoing with results of both trials expected in second half of 2017

* Cash burn for 2017 is expected to decline from 2016 as a result of flat operating expense level Source text for Eikon: Further company coverage:

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