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Otonomy Q1 Net Loss Narrows

05/11/2021 13:02

04:47 PM EDT, 05/11/2021 (MT Newswires) -- Otonomy (OTIC) reported Tuesday a Q1 net loss of $0.23 per share, compared with a loss of $0.38 per share a year earlier.

Net product sales totaled $90,000, down from $160,000 a year earlier.

The company had cash and cash equivalents of $51 million as of March 31, compared with $30.8 million on Dec. 31, 2020. Current cash, cash equivalents, and short-term investments will be sufficient to fund operations into the second half of 2023, the company said.

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