CTLT - Unity Biotechnology (UBX) Stock Pops on Positive Study Data
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Unity Biotechnology (NASDAQ:UBX) stock is gaining on Tuesday after the company released results from a Phase 2 clinical trial of UBX1325.
UBX1325 is the company’s treatment in development to treat patients dealing with diabetic macular edema (DME). What investors need to know today is that the study met both its primary endpoints for safety and efficiency.
Elaborating on that further, patients treated with UBX1325 experienced a mean improvement in BCVA of +7.6 letters. There were also no cases of intraocular inflammation, retinal artery occlusion, endophthalmitis, or vasculitis during the 24-week study.
What’s Next for UBX Stock?
Anirvan Ghosh, Ph.D., CEO of Unity Biotechnology, highlights what the results of UBX1325 could mean for DME patients.
“In today’s treatment paradigm for DME, most patients require frequent injections – and still a large proportion of patients with the current standard of care have residual visual deficits. Based on the results of this study we believe UBX1325 could lead to significant vision gain while reducing treatment burden for patients.”
Following the positive results from the clinical trial, Unity Biotechnology is already preparing for another one. The company intends to conduct a pivotal study of DME during the second half of 2023.
All of this news has UBX stock seeing heavy trading today. As of this writing, more than 25 million shares of the stock have changed hands. That’s a massive leap over its daily average trading volume of about 448,000 shares.
UBX stock is up 7.9% as of Tuesday afternoon.
There’s plenty more stock market news for traders to dive into below!
InvestorPlace is ready to go with all of the biggest stock market stories for Tuesday! That includes what’s going on with shares of Catalent (NYSE:CTLT), Tesla (NASDAQ:TSLA), and Chinese EV stocks today. You can catch up on all of this news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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