August 30, 2017 / 11:29 AM / a year ago

BRIEF-Otonomy reports results for Averts-1 phase 3 trial for Otividex

Aug 30 (Reuters) - Otonomy Inc:

* Says ‍company is withdrawing spending guidance for year pending review of product pipeline plans

* Otonomy reports results for Averts-1 phase 3 trial for Otividex in patients with Ménière's disease

* Says ‍company to immediately suspend all development activities for Otividex​

* Says clinical trial missed its primary endpoint

* Says ‍clinical trial missed its primary endpoint which was count of definitive vertigo days by Poisson Regression analysis​

* Says ‍trial also failed to achieve statistical significance for any of key secondary vertigo endpoints at month 3​

* Says ‍undertaking a review of its product pipeline plans and commercial efforts in order to identify "opportunities" to extend its cash runway​ Source text for Eikon: Further company coverage:

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