Unity Bio Restructuring Cuts 30% of Staff, Keeps Focus on Eye Drug

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 »


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Author: Frank Vinluan

Source : https://xconomy.com/san-francisco/2020/09/15/unity-bio-restructuring-cuts-30-of-staff-keeps-focus-on-eye-drug/


Date : 2020-09-15T14:49:49.000Z

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