Otonomy, Inc. (OTIC) saw its loss widen to $26.57 million, or $0.88 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $21.14 million, or $0.87 a share. Revenues for the quarter were $0.27 million. The company has not recorded any revenues for the previous year period.
Operating loss for the quarter was $26.85 million, compared with an operating loss of $21.15 million in the previous year period.
Hired David Kaplan as vice president, sales. Mr. Kaplan previously served as vice president, sales for Pacira Pharmaceuticals, Inc. from April 2013 through March 2016. During this period, annualized sales of EXPAREL grew significantly from less than $50 million to more than $250 million. Mr. Kaplan is directly reporting to David A. Weber, Ph.D., president and chief executive officer.
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