Otonomy Prices IPO At $16.00 Per Share - Quick Facts

(RTTNews) - Otonomy Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics for diseases and disorders of the inner and middle ear, announced that it has priced its initial public offering of 6.25 million shares of its common stock at a price to the public of $16.00 per share.

In addition, Otonomy has granted the underwriters a 30-day option to purchase up to 937,500 additional shares of common stock at the initial public offering price, less customary underwriting discounts and commissions. All of the common stock is being offered by Otonomy.

The shares are expected to begin trading on The NASDAQ Global Select Market on August 13, 2014, under the symbol "OTIC."

J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint book-running managers for the offering, Piper Jaffray & Co. is acting as lead manager for the offering, and Sanford C. Bernstein & Co., LLC is acting as co-manager for the offering.