Pisd
2 years ago
Unity Biotechnology Shares Plumb New Depths After Study Setback >UBX
11:44 am ET March 27, 2023 (Dow Jones) Print
By Colin Kellaher
Shares of Unity Biotechnology Inc. lost more than half of their value and hit an all-time low Monday after the biotechnology company's lead pipeline candidate UBX1325 missed a key goal in a Phase 2 study in wet age-related macular degeneration, or wet AMD.
Unity said UBX1325 failed to achieve non-inferiority versus aflibercept at 24 weeks on the best corrected visual acuity test.
In a research note, Mizuho analysts Salim Syed and Erik Lavington said they cut their price target on Unity shares to $6 from $12 after removing wet AMD, saying they don't see a likely viable go-forward for UBX1325 in the indication.
Mizuho also lowered its probability-of-success forecast for UBX1325 in diabetic macular edema to 25% from 33%.
Unity said it plans to assess and optimize its resource allocation for future development of UBX1325 after it fully analyzes the study results.
The Mizuho analysts said Unity's $75 million of net cash is worth roughly $5 of their $6 price target, and they noted that the market may not want full credit for the cash due to continued spending by the South San Francisco, Calif., company.
Unity shares were recently changing hands at $2.00, down nearly 52% and reaching their lowest level since the company went public in May 2018.
Pisd
2 years ago
UNITY Biotechnology to Host Investor Call to Review Data from the UBX1325 Program and Provide an Overview of the ENVISION Wet AMD Study
8:00 am ET February 9, 2023 (Globe Newswire)
-Investor call with retinal expert Robert B. Bhisitkul, M.D., Ph.D., to be held on Tuesday, February 14, 2023 at 7:00 a.m. PT/ 10:00 a.m. ET-
-Complete 16- and 24-week safety and efficacy data from phase 2 ENVISION study in wet AMD expected in Q1 2023-
SOUTH SAN FRANCISCO, Calif., Feb. 09, 2023 (GLOBE NEWSWIRE) -- UNITY Biotechnology, Inc. ("UNITY") [NASDAQ: UBX], a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today announced that it will host an investor call to discuss lead program, UBX1325, as a potential treatment solution to address the unmet medical need present in age-related diseases of the eye on Tuesday, February 14, 2023 at 7:00 a.m. PT/ 10:00 a.m. ET. Robert B. Bhisitkul, M.D., Ph.D., of University of California San Francisco School of Medicine will review data from the Phase 2 BEHOLD study in diabetic macular edema, followed by an update on upcoming data readouts from the Phase 2 ENVISION study in patients with wet age-related macular degeneration. The Company expects to have 16- and 24-week safety and efficacy data from the ENVISION study in the first quarter of 2023.
A live question and answer session will follow the formal presentation. The webcast can be accessed in the "Investors and Media" section of our website, www.unitybiotechnology.com, under "Events & Presentations" or by clicking here. A replay will be available two hours after the completion of the call and can be accessed in the "Investors & Media" section of our website, under "Events and Presentations."
About UNITY
UNITY is developing a new class of therapeutics to slow, halt or reverse diseases of aging. UNITY's current focus is on creating medicines to selectively eliminate or modulate senescent cells and thereby provide transformative benefit in age-related ophthalmologic and neurologic diseases. More information is available at www.unitybiotechnology.com or follow us on Twitter and LinkedIn.
Pisd
2 years ago
Q., what is your go to for insider trading info, form 4, bal sheet 10q?, scheduled trades, maybe all of the above, because honest and surely intentionally it's hard for the homegamer to do the calculations, how many shares and when etc.
Thanks for any thoughts, seems important to learn more about these days..