UBX - UNITY Biotech falls 9% aftermarket on initiation of restructuring program

UNITY Biotechnology (NASDAQ:UBX) slid 9% postmarket after it said initiated a restructuring program to align its resources on later-stage programs in ophthalmology while further extending operating capital into Q1 2023. These measures will enable UBX to achieve multiple key clinical data readouts for UBX1325 as well as support the Tie2/VEGF bispecific program through advanced candidate nomination with current cash and cash equivalents. All other pipeline programs will be paused to focus resources on these advanced programs. UBX will reduce its workforce, primarily in Discovery Research, by ~50% to 34 full-time employees by the middle of the year. The company expects to report UBX1325 12-week safety and efficacy data from the Phase 2a DME study by mid-year 2022, and 24-week safety and efficacy data from that study before year-end. UBX expects to report UBX1325 16-week safety and efficacy data from the Phase 2 wet AMD study before year-end. UBX1325 24-week safety and

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UNITY Biotech falls 9% aftermarket on initiation of restructuring program