Otonomy up 6% on hearing loss data
US neurotology company Otonomy (Nasdaq: OTIC) closed 6% higher on Wednesday after presenting positive top-line results from the Phase IIa clinical trial of OTO-413 in subjects with hearing loss.
The study showed that a single intratympanic injection of 0.3 mg OTO-413, a sustained exposure formulation of brain-derived neurotrophic factor (BDNF), provided clinically-meaningful treatment benefit versus placebo across multiple speech-in-noise hearing tests as well as the patient global impression of change at consecutive time points (days 57 and 85).
"A second independent, placebo-controlled trial demonstrating the treatment benefit of OTO-413 in a broad hearing loss patient population"These results support the clinical activity of OTO-413 observed in the prior Phase I/II trial and provide a second, independent demonstration of the treatment potential of OTO-413 for patients over a broad range of hearing loss levels.
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