Unicycive Therapeutics reports positive financial results, including successful trials for kidney disease treatment

From GlobeNewswire: 2024-08-14 07:10:00

Unicycive Therapeutics, Inc. announced financial results, with plans to submit a New Drug Application (NDA) for oxylanthanum carbonate (OLC) by end of August 2024. Successful pivotal trial results showed OLC’s tolerability in hyperphosphatemia dialysis patients. Enrollment for UNI-494 Phase 1 study is complete, targeting acute kidney injury. The company aims to enhance kidney disease treatment options.

Key highlights included OLC’s positive trial outcomes, patient preference, and the UNI-494 Phase 1 study completion with results expected in Q3 2024. The United States Patent and Trademark Office granted a patent for UNI-494. Unicycive was included in the Russell Microcap® Index and presented at various medical conferences, showcasing innovative kidney disease treatments. Financially, the company reported an increase in R&D expenses but a strong net income of $3.0 million for the quarter ended June 30, 2024. Cash and cash equivalents totaled $41.8 million, supporting operations until 2026.

Unicycive Therapeutics is progressing towards submitting an NDA for OLC, showcasing successful trial results in dialysis patients. The company aims to provide innovative treatments for kidney diseases, with ongoing research and development efforts. The UNI-494 Phase 1 study has been completed, and positive outcomes are anticipated in Q3 2024. Financially, Unicycive has reported a net income of $3.0 million for the quarter ended June 30, 2024, ensuring operational funding until 2026.



Read more at GlobeNewswire:: Unicycive Announces Second Quarter 2024 Financial Results