Otonomy prices upsized IPO at $16, the high end of the range
Otonomy, a late-stage biotech developing sustained-exposure treatments for ear diseases, raised $100 million in an upsized IPO by offering 6.3 million shares at $16.00, at the high end of the range of $14.00 to $16.00. The company originally planned to offer 5.3 million shares. Otonomy plans to list on the NASDAQ under the symbol OTIC. Otonomy initially filed confidentially on 6/5/2014. J.P. Morgan and BofA Merrill Lynch acted as lead managers on the deal.