Why Otonomy's Stock Is Trading Higher Today

Otonomy OTIC shares are trading higher on Tuesday.

The company reported results from its Phase 1/2 clinical trial of OTO-313 in patients with Tinnitus demonstrated a higher proportion of responders than placebo.

Otonomy is a biopharmaceutical company, focused on the development and commercialization of therapeutics for diseases and disorders of the ear. It offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients.

The company also develops OTO-104, a sustained-exposure formulation of the steroid dexamethasone for the treatment of Meniere's disease and other inner ear conditions; and OTO-311, a sustained-exposure formulation for the treatment of tinnitus. All the business activity primarily operates through the region of U.S.

Otonomy shares were trading up 14.15% at $3.63 on Tuesday. The stock has a 52-week high of $4.18 and a 52-week low of $1.53.