Otonomy Sets Estimated IPO Pricing Range

San Diego-based Otonomy, which is developing treatments for diseases of the inner and middle ear, set its estimated IPO pricing range Friday. The company indicated in a filing that it now expects its IPO at between $14.00 and $16.00 per share. Otonomy has applied to list on the NASDAQ Global Market as OTIC. The company is venture backed by Avalon Ventures, OrbiMed, Novo AS, TPG Biotech, Domain Associates, Rivervest Venture Partners, as well as others. Setting and estimated IPO pricing range is one of the activites which leads up to a company's IPO, and generally occurs as the company embarks on a road show to insitutional investors. Otonomy filed for its IPO on July 14th.