A couple of years ago I quoted a detailed report about a promising research project which showed that the tinnitus is caused by irregular nerve cell activity in the brain stem. It was announced that a drug for treatment may be found on this basis. This research group in the UK collaborated with the pharmaceutical company Autifony to develop and trial the drug AUT00063. Unfortunately, phase 2 of the trials has recently been abandoned as there was not sufficient evidence that the drug is effectice enough to warrant a continuation of the trials. However, Autifony is already working on developing a new drug in collaboration with the same research group based on new research.

Recently, there has also been a lot of talk about the drug AM-101 developed by Auris Medical, but a) despite the trials still ongoing, there are no definitive results published yet, and b) the company is writing heavy losses, and according to their own statement will run out of money in fall 2017 unless they manage to obtain new funding (see also the latest financial report).
It should also be mentioned that the drug developed by Auris Medical is based on the old-fashioned view that tinnitus is produced in the inner ear not the brain, that is research dating back at least 15-20 years (Auris Medical was founded in 2003 specifically to develop this drug AM-101).

So whilst there is still trials and new research for a potent drug against tinnitus going on, it may still be a while before a breakthrough is made and something becomes available for the general public.
Instead of waiting that a drug becomes available, it is therefore advised to work on your own approaches to alleviate if not cure the condition. As mentioned in this blog, there are numerous ways how you could do this without exotic drugs and financial expenses.

Thomas