UNITY Biotechnology Inc (UBX)

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Unity Biotechnology posts biggest intraday gain after Q3 earnings
Nov. 10, 2021

With the biggest ever intraday gain, Unity Biotechnology (UBX +30.0%) is trading near a two-month high after the company reported its Q3 2021 financials and provided business updates.

The highlights of the earnings release include upcoming milestones from biotech’s clinical studies on UBX1325 for patients with wet age-related macular degeneration (AMD).
In H1 2022, Unity (NASDAQ:UBX) expects to begin a Phase 2 proof of concept study for UBX1325 in AMD. The 12-week safety and efficacy data are expected in H2 2022.
Meanwhile, 12-week data from a Phase 2a proof of concept study for UBX1325 in diabetic macular edema (DME) are expected in H1 2022.
With $88.5M cash, cash equivalents, and marketable securities in hand, Unity (UBX) says its liquidity level is enough to fund operations through Q3 2022.

On Tuesday, the company released 24-week data from its Phase 1 single ascending dose (SAD) safety study for UBX1325 in DME.
The benefit from the treatment measured through best-corrected visual acuity (BCVA) reached a mean gain of 9.5 ETDRS letters for the higher doses with the effect lasting 24 weeks post-therapy, according to the results.
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