 SAN DIEGO, April 07, 2021 GLOBE NEWSWIRE -- Otonomy, Inc. Nasdaq: OTIC, a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology, today announced the pricing of an underwritten public offering of 6,288,890 shares of its common stock at a price to the public of 2.25 per share and, to certain investors in lieu of common stock, pre-funded warrants to purchase up to an aggregate of 7,111,110 shares of its common stock at a purchase price of 2.249 per each pre-funded warrant, which represents the per share public offering price for the common stock less the 0.001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds from this offering are expected to be approximately 30.1 million, before deducting underwriting discounts and commissions and other offering expenses payable by Otonomy. In addition, Otonomy has granted the underwriters a 30-day option to purchase up to an additional 2,010,000 shares of its common stock in connection with the public offering at the public offering price per share, less underwriting discounts and commissions. All of the shares of common stock and pre-funded warrants are being sold by Otonomy. The offering is expected to close on or about April 12, 2021, subject to customary closing conditions. 