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. UNITY is developing a new class of therapeutics to slow, halt, or reverse diseases of aging.
#Unity biotechnology professional#
The decrease was primarily due to decreases of $1.3 million in personnel-related expenses due to the Company's reduced headcount and reduction in force, partially offset by increases of $0.2 million in professional fees and $0.1 million in facilities-related costs. General and administrative expenses decreased by $1.0 million, to $4.8 million for the three months ended Mafrom $5.8 million for the three months ended March 31, 2022. The decrease was primarily due to decreases of $3.9 million in personnel costs due to the Company's reduced headcount and reduction in force, $1.7 million in direct research and development expenses mainly due to the UBX1325 Phase 2 DME study nearing its completion, $0.8 million in facilities-related costs primarily due to allocation to general and administrative expenses of net expenses on East Grand facilities which have been subleased, and $0.3 million in laboratory supplies. Research and development expenses decreased by $6.7 million, to $5.8 million for the three months ended Mafrom $12.5 million for the three months ended March 31, 2022. Cash used in operations during the first quarter of 2023 was $11.3 million compared to $15.0 million during the first quarter of 2022. Operating loss for the three months ended Mawas $10.9 million compared to $18.9 million for the three months ended March 31, 2022. UNITY believes that current cash, cash equivalents and marketable securities are sufficient to fund operations into the fourth quarter of 2024. As part of these actions, the Company is reducing its headcount by a total of nine employees, or approximately 29%, by the middle of this year.Ĭash, cash equivalents and marketable securities totaled $83.4 million as of Macompared with $94.8 million as of December 31, 2022. The Company’s actions to prioritize resource allocation are expected to enable the initiation and achievement of key data readouts for the head-to-head Phase 2b study to explore the efficacy of UBX1325 in patients with DME as compared to aflibercept, to enable achievement of the 48-week readout of Part B of the ENVISION Phase 2 study in patients with AMD (which will include combination efficacy data of treatment with UBX1325 and aflibercept compared to aflibercept alone), and additionally to extend the Company’s runway into the fourth quarter of 2024.
#Unity biotechnology trial#
Together with the favorable safety and tolerability profile in the BEHOLD study in DME as well as the ENVISION study in AMD, and, importantly, durability data from both studies, we have optimized our resources in preparation for a Phase 2b DME head-to-head trial against aflibercept that we plan to start in the coming months.” “Our results showed that a single injection of UBX1325 led to a statistically significant and clinically meaningful improvement in BCVA while maintaining retinal structure as measured by CST. “The recent 48-week readout of our Phase 2 BEHOLD study of UBX1325 helped position our novel senolytic small molecule as potentially a transformative therapeutic option for patients with DME,” said Anirvan Ghosh, Ph.D., chief executive officer of UNITY. (UNITY), a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today reported financial results for the first quarter ended March 31, 2023. SOUTH SAN FRANCISCO, Calif., (GLOBE NEWSWIRE) - UNITY Biotechnology, Inc.
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