Unity Biotech skyrockets on positive eye drug trial data

Unity Biotechnology

12/08/2022 13:14

** Unity Biotechnology, Inc's shares  UBX.O  surge 92% to
$1.66 - the biggest pct gainer across all U.S. stock exchanges
premarket
    ** Co says its drug, UBX1325, showed statistically
significant improvement in vision in patients with diabetic
macular edema at 12 and 18 weeks, when compared to a sham
treatment, which is similar to a placebo  urn:newsml:reuters.com:*:nGNXbtNN6m
    ** UBX says the drug was also generally safe with no cases
of eye problems like inflammation, retinal vein occlusion, or
vasculitis in the trial 
    ** Macular edema is the most common cause of vision loss in
diabetic patients, affecting about 750,000 Americans, according
to the U.S. NIH 
    ** Co separately reports cash, cash equivalents and
marketable securities of $64.5 mln in Q2 vs $79.2 mln in Q1
 urn:newsml:reuters.com:*:nGNXVjjyR
    ** Up to Thursday's close, stock down 42% YTD

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