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      Here’s why Unity Biotechnology Inc. (UBX) gained in the After hours - Stocks Telegraph

      By Gule Rukhsar

      Published on

      November 29, 2021

      5:34 AM UTC

      Here’s why Unity Biotechnology Inc. (UBX) gained in the After hours - Stocks Telegraph

      Unity Biotechnology Inc. (UBX) stock went up by 8.60% at $2.40 in the aftermarket, against $2.21 at its previous close on November 26. In the last market session, the stock lost 4.74% or $0.11 at a volume of 624.37 thousand. The day range for the stock was $2.20 to $2.36, while it saw a high of $9.78 and a low of $2.20 in the 52-week range. While the 65-day average shares exchange volume of the stock has been 751.99 thousand. In the past week, UBX stock has gone down by 12.65% and 2.64% in the past month. Further, the stock has lost a value of 57.82% year to date. Currently, the market capital of the stock is $127.57 million with 57.72 million outstanding shares.

      Founded in 2009, Unity Biotechnology Inc. (UBX) engages in the research and development of therapeutics to slow, halt or reverse diseases of aging.

      UBX stock

      On November 9, the company provided new and improved data on its product for treating advanced vascular eye disease. Following the positive development, the stock reached $3.64 on November 10, reaching such a high after almost 80 days. After which the stock seemed to be in market corrections, as it has been in the red since. The third-quarter earnings announced on November 10, also seemed to have not impressed the investors.

      UBX seems to be recovering from the downtrend, given its gain of 8.6% in the after-hours on November 26.

      UBX Study’s Positive Data

      On November 9, Unity Biotechnology Inc. (UBX) disclosed the 24-week data of its UBX1325 Phase 1 study of patients with advanced vascular eye disease. As per the data, following a single injection of UBX1325, the majority of the patients showed rapid improvements in vision. UBX1325 is a compound studied for visual diseases due to age.

      Hence, the great results of the phase 1 study support initiation of the phase 2 study of the UBX1325.

      Q3 Earnings Report

      On November 10, Unity Biotechnology Inc. (UBX) announced its financial results for the quarter ended September 30, 2021. As per the third quarter of 2021, the research and development expenses were $9.1 million against $18.8 million in Q3 2020. This shows a decrease of $9.7 million year over year.

      Moreover, the general and administrative expenses were $5.7 million in Q3 2021, compared to $6.5 million in the Q3 of 2020. The G&A expenses decreased by $0.8 million year over year.

      Further, UBX had cash and cash equivalents of $88.5 million as of September 30, 2021. While the same was $115.6 million as of December 31, 2020.

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