Unity Biotechnology abandons reverse stock split, shares rise

Unity Biotechnology

05/07/2022 22:13

** Shares of eye drug developer Unity Biotechnology Inc
 UBX.O  up ~13% at 69 cents after the bell
    ** UBX to abandon a reverse stock split at this time
 urn:newsml:reuters.com:*:nFWN2YM10K
    ** Adds if the board determines to pursue a reverse stock
split at a later date, it will submit a new proposal to its
stockholders 
    ** Up to Tuesday's close, stock had fallen ~58% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))