Cal­i­for­nia hear­ing-loss biotech fires all em­ploy­ees and out­lines plan to liq­ui­date

The end has come for Oton­o­my, a Cal­i­for­nia-based biotech that de­vel­oped treat­ments for neu­ro­log­i­cal con­di­tions of the ear, af­ter a se­ries of failed tri­als.

The com­pa­ny an­nounced on Mon­day it had fired all re­main­ing em­ploy­ees on Dec. 15 and ap­proved a liq­ui­da­tion and dis­so­lu­tion plan as the com­pa­ny winds down op­er­a­tions. The an­nounce­ment comes just just two months af­ter it said it would “ex­plore strate­gic op­tions,” a fan­cy way of say­ing it’s strug­gling and look­ing for a way out.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER