Welcome to our dedicated page for Unity Biotechnology news (Ticker: $UBX), a resource for investors and traders seeking the latest updates and insights on Unity Biotechnology stock.
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UNITY Biotechnology (NASDAQ: UBX) reported its Q1 2024 financial results and business updates on May 14, 2024. The company focuses on therapies to combat aging-related diseases. Significant progress was made in the Phase 2b ASPIRE study of UBX1325 for diabetic macular edema, expanding the study to 50 patients and extending it to 36 weeks for better efficacy assessment. Financials show cash equivalents of $38.3 million, with a net loss of $5.8 million, slightly higher than the $5.3 million in Q1 2023. Cash used in operations decreased significantly from $11.3 million to $5.2 million. R&D and G&A expenses also declined due to study completions, reduced headcount, and sublease income.