From GlobeNewswire: 2024-04-15 07:00:00

UNITY Biotechnology, Inc. reported positive financial results for the fourth quarter and full year ended December 31, 2023. The ASPIRE study in diabetic macular edema has been upsized to 50 patients to maximize differentiation of UBX1325 from standard care. Expected data includes 16-week results in Q4 2024 and 24-week results in Q1 2025. Cash, cash equivalents, and securities totaled $43.2 million as of December 31, 2023. Net loss for 2023 was $39.9 million and cash used in operations was $36.2 million. Research and development expenses decreased to $20.1 million for 2023 from $36.9 million in 2022. General and administrative expenses decreased to $19.0 million in 2023 from $21.0 million in 2022. Total net loss for the fourth quarter of 2023 was $4.3 million compared to $7.4 million for the fourth quarter of 2022. General and administrative expenses decreased to $4.4 million for the fourth quarter of 2023 from $5.3 million in the fourth quarter of 2022.UNITY is developing therapeutics to target diseases of aging, focusing on eliminating or modulating senescent cells to benefit age-related ophthalmologic and neurologic conditions. For more information, visit the company’s website or follow them on Twitter and LinkedIn. Forward-looking statements in this press release discuss UNITY’s goals in developing therapeutics and managing cash runway into the third quarter of 2025. Risks may impact actual results, as detailed in the company’s most recent filings with the Securities and Exchange Commission. Statements of Operations and Comprehensive Loss and Condensed Balance Sheets for UNITY are provided for the fourth quarter and full year ended December 31, 2023.



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