Unity Biotech falls after eye drug fails in mid-stage study

Unity Biotechnology

27/03/2023 14:46

** Shares of drugmaker Unity Biotechnology  UBX.O  down 40%
at $2.49
    ** UBX says its drug UBX1325 did not meet main goal of
showing "non-inferior gains" in vision clarity vs Regeneron
Pharmaceuticals'  REGN.O  drug Eylea 
    ** Unity was testing the drug in a mid-stage study in
patients with wet age-related macular degeneration (wAMD) who
were not achieving maximum treatment benefits with ongoing
anti-VEGF therapy
    ** Anti-VEGF therapies help reduce new blood vessel growth
and are used for the treatment of wAMD, a type of disorder in
which new abnormal blood vessels develop under the retina
    ** Company is also studying the drug as a treatment for
macular edema, the most common cause of vision loss in diabetic
patients
    ** As of last close, UBX up ~51% so far this year

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788))