Unity Biotechnology slips as co faces Nasdaq delisting, plans dissolution

Unity Biotechnology

30/06/2025 13:42

** Shares of drug developer Unity Biotechnology UBX.O fall 8% to 71 cents premarket

** Co was notified by Nasdaq on June 27 that it will be delisted because it's considered a "public shell" with no operating business - SEC filing

** Co's board approves a plan to dissolve the firm

** Co's CEO, CFO and Chief Legal Officer all step down

** Craig Jalbert was appointed as the sole remaining director, and all officer positions

** Jalbert will be paid $10,000 per month until dissolution approval, then $50,000 per year for three years

** Co says it is still trying to find ways to monetize its assets but hasn't found viable alternatives to dissolution

** As of last close, stock down 21% YTD

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))