 SAN DIEGO, April 19, 2021 GLOBE NEWSWIRE -- Otonomy, Inc. Nasdaq: OTIC, a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology, today announced the closing of its previously announced underwritten public offering of 8,298,890 shares of its common stock, which includes the underwriters full exercise of their option to purchase additional shares, and pre-funded warrants to purchase up to 7,111,110 shares of its common stock for total gross proceeds of approximately 34.7 million, before deducting the underwriting discounts and commissions and other offering expenses payable by Otonomy. All of the securities were sold by Otonomy. 