SAN DIEGO (AP) _ Otonomy Inc. (OTIC) on Thursday reported a loss of $18.8 million in its fourth quarter.
On a per-share basis, the San Diego-based company said it had a loss of 62 cents.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 67 cents per share.
The biotechnology company posted revenue of $270,000 in the period.
For the year, the company reported that its loss narrowed to $90.1 million, or $2.97 per share. Revenue was reported as $1.2 million.
Otonomy shares have decreased almost 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.40, a decline of 60 percent in the last 12 months.