Unicycive Therapeutics surges on securing $130 mln financing

Unicycive Therapeutics

06/03/2023 13:23

** Unicycive Therapeutics Inc's  UNCY.O  shares more than double to $1.05 -
amongst the biggest pct. gainers across U.S. stock exchanges premarket
    ** Drug developer secures financing to develop and commercialize its
experimental drug to treat patients with hyperphosphatemia, a condition
resulting in elevated phosphate level in blood  urn:newsml:reuters.com:*:nGNX9QSlp5
    ** Co signed a agreement with certain healthcare investors that will provide
it $130 million through private placement, including an upfront funding of $30
mln 
    ** The global market opportunity for treating hyperphosphatemia is projected
to be in excess of $2.5 bln in 2023, with the U.S. accounting for more than $1
bln - UNCY
    ** UNCY was down ~78% last year

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))