BRIEF-Otonomy Provides Corporate Update

Reuters

Dec 20, 2022

Dec 19 (Reuters) - Otonomy Inc :

* OTONOMY PROVIDES CORPORATE UPDATE

* OTONOMY INC - BOARD OF DIRECTORS, AFTER CONSIDERING STRATEGIC OPTIONS, HAS APPROVED AND ADOPTED A PLAN OF LIQUIDATION AND DISSOLUTION

* OTONOMY INC - TO REDUCE COST, OTONOMY HAS IMPLEMENTED A REDUCTION IN WORKFORCE

* OTONOMY INC - CURRENTLY IN DISCUSSIONS FOR POTENTIAL SALE OF ITS PIPELINE ASSETS

* OTONOMY INC - REDUCED ITS WORKFORCE, INCLUDING TERMINATION OF ALL EMPLOYEES, EFFECTIVE AS OF DECEMBER 15, 2022

* OTONOMY - ESTIMATES THAT IT WILL INCUR AGGREGATE CHARGES OF ABOUT $5.0 MILLION FOR SEVERANCE AND OTHER EMPLOYEE TERMINATION-RELATED COSTS IN Q4 OF 2022

* OTONOMY INC - WORKFORCE REDUCTION INCLUDES TERMINATION OF EMPLOYMENT OF ALL OFFICERS

* OTONOMY INC - DAVID A. WEBER, CONTINUES TO SERVE ON OTONOMY BOARD OF DIRECTORS

* OTONOMY INC - INTENDS TO CALL A SPECIAL MEETING OF ITS STOCKHOLDERS IN Q1 OF 2023 TO SEEK APPROVAL OF PLAN OF DISSOLUTION

* OTONOMY INC - PAUL E. CAYER CONTINUES TO SERVE ON A CONSULTING BASIS AS CHIEF FINANCIAL AND BUSINESS OFFICER, AND WAS APPOINTED PRESIDENT

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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WEBER, CONTINUES TO SERVE ON OTONOMY BOARD OF DIRECTORS</p><p>   * OTONOMY INC - INTENDS TO CALL A SPECIAL MEETING OF ITS STOCKHOLDERS IN Q1 OF 2023 TO SEEK APPROVAL OF PLAN OF DISSOLUTION</p><p>   * OTONOMY INC - PAUL E. CAYER CONTINUES TO SERVE ON A CONSULTING BASIS AS CHIEF FINANCIAL AND BUSINESS OFFICER, AND WAS APPOINTED PRESIDENT</p><p>Source text for Eikon:    Further company coverage:   </p><p>((Reuters.Briefs@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4007","symbol_name":"制药","start_time":0,"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2292705308","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2292705308","pubTimestamp":1671486993,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Dec 19 (Reuters) - Otonomy Inc   :   * OTONOMY PROVIDES CORPORATE UPDATE   * OTONOMY INC - BOARD OF ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4007":"制药"},"translate_title":"简介-Otonomy提供公司最新情况","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OTIC":1},"content_text":"Dec 19 (Reuters) - Otonomy Inc   :   * OTONOMY PROVIDES CORPORATE UPDATE   * OTONOMY INC - BOARD OF DIRECTORS, AFTER CONSIDERING STRATEGIC OPTIONS, HAS APPROVED AND ADOPTED A PLAN OF LIQUIDATION AND DISSOLUTION   * OTONOMY INC - TO REDUCE COST, OTONOMY HAS IMPLEMENTED A REDUCTION IN WORKFORCE   * OTONOMY INC - CURRENTLY IN DISCUSSIONS FOR POTENTIAL SALE OF ITS PIPELINE ASSETS   * OTONOMY INC - REDUCED ITS WORKFORCE, INCLUDING TERMINATION OF ALL EMPLOYEES, EFFECTIVE AS OF DECEMBER 15, 2022   * OTONOMY - ESTIMATES THAT IT WILL INCUR AGGREGATE CHARGES OF ABOUT $5.0 MILLION FOR SEVERANCE AND OTHER EMPLOYEE TERMINATION-RELATED COSTS IN Q4 OF 2022   * OTONOMY INC -  WORKFORCE REDUCTION INCLUDES TERMINATION OF EMPLOYMENT OF ALL OFFICERS   * OTONOMY INC - DAVID A. WEBER, CONTINUES TO SERVE ON OTONOMY BOARD OF DIRECTORS   * OTONOMY INC - INTENDS TO CALL A SPECIAL MEETING OF ITS STOCKHOLDERS IN Q1 OF 2023 TO SEEK APPROVAL OF PLAN OF DISSOLUTION   * OTONOMY INC - PAUL E. CAYER CONTINUES TO SERVE ON A CONSULTING BASIS AS CHIEF FINANCIAL AND BUSINESS OFFICER, AND WAS APPOINTED PRESIDENTSource text for Eikon:    Further company coverage:   ((Reuters.Briefs@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}