secwatch.observer — SEC 8-K summary
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Issuer:     OTONOMY, INC. (—)
CIK:        0001493566
Form:       8-K
Filed at:   2022-12-19T23:59:59+00:00
Accession:  0001193125-22-308465
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 2.05, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Otonomy board approves liquidation and dissolution; all employees terminated
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- Board approved Plan of Liquidation and Dissolution on Dec 13, 2022, subject to stockholder approval.
- Workforce eliminated effective Dec 15, 2022; all employees including officers terminated.
- Estimated $5.0M severance and termination costs in Q4 2022.
- CEO David Weber remains on board; CFO Paul Cayer appointed President and continues on consulting basis.
- Company will seek stockholder approval at special meeting in Q1 2023, then delist and distribute remaining cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1493566/000119312522308465/0001193125-22-308465-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1493566/000119312522308465/d399197d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-308465

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