SAN DIEGO, Jan. 28, 2015 (GLOBE NEWSWIRE) -- Otonomy, Inc. (Nasdaq:OTIC), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics for diseases and disorders of the inner and middle ear, today announced the closing of its follow-on public offering of 2,932,500 shares of its common stock (including 382,500 shares that were offered and sold pursuant to the full exercise of the underwriters' option to purchase additional shares) at a price to the public of $29.25 per share, for total gross proceeds of approximately $86 million before deducting underwriting discounts and commissions and other offering expenses. All of the common stock was sold by Otonomy.

J.P. Morgan Securities LLC acted as the sole book-running manager for the offering, Piper Jaffray & Co. and Cowen and Company, LLC acted as lead managers, and Sanford C. Bernstein & Co., LLC acted as co-manager.

A registration statement relating to these securities was filed with the SEC and became effective on January 22, 2015. The offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Media Inquiries
Canale Communications
Heidi Chokeir, Ph.D.
Vice President

Investor Inquiries
Westwicke Partners
Robert H. Uhl
Managing Director