Unity Biotechnology is cutting nearly one third of its staff, a move that comes a month after the biotech’s lead drug candidate failed a mid-stage study in osteoarthritis.
South San Francisco-based Unity (NASDAQ: UBX) says that the corporate restructuring announced Tuesday should make the cash that it has left last through mid-2022, when data are expected for data the eye drug programs that are now the company’s focus. According to Unity’s second quarter financial report, the company had $39.6 million in cash and cash equivalents as of June 30.
Unity develops treatments for diseases of aging, which the company... Read more »
UNDERWRITERS AND PARTNERS
Author: Frank Vinluan
Date : 2020-09-15T14:49:49.000Z