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Otonomy plans to price initial public offering of common stock
JPMorgan and BofA Merrill Lynch to be bookrunning managers for deal
By Devika Patel
Knoxville, Tenn., July 11 – Otonomy, Inc. will conduct an initial public offering of its common stock with a 30-day over-allotment option, according to a Form S-1 filed Friday with the Securities and Exchange Commission.
J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint bookrunning managers. Piper Jaffray & Co. is the lead manager, and Sanford C. Bernstein is the co-manager.
Proceeds will be used to prepare for the commercialization of AuriPro, for clinical and preclinical development, for clinical trials, for research and development, for working capital and for general corporate purposes.
The biopharmaceutical company is based in San Diego. The company intends to list its common stock on the Nasdaq stock exchange under the symbol “OTIC.”
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