Unity Biotech falls on proposed $25 mln stock offering

Unity Biotechnology

16/08/2022 22:11

** Unity Biotechnology's shares  UBX.O  fall 11% to $1.22
after market close
    ** Announces $25 million common stock offering  urn:newsml:reuters.com:*:nGNX4NqpBw
    ** Plans to use proceeds to fund ongoing clinical
development of lead drug candidate, UBX1325, for age-related eye
disease
    ** All six brokerages covering UBX rate the stock "buy" or
higher; their median PT is $7
    ** Up to Tuesday's close, stock had fallen 6% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))