Unity Biotechnology Inc. UBX has received an upbeat appraisal from Wedbush analyst Andreas Argyrides, who upgraded the company’s shares from Neutral to Outperform. The analyst has also raised the price target from $2 to $4, highlighting the company’s solid financial standing and ongoing progress in its therapeutic endeavors.
Unity Biotechnology is on a mission to develop treatments that can decelerate, halt, or reverse age-related ailments. The company’s primary focus lies in formulating medications targeting cellular senescence and aging-related biology associated with ophthalmologic and neurologic diseases.
The positive results from the Ph2 BEHOLD trial for UBX1325/DME over 12, 18, 24, and 48 weeks have paved the way for Unity Biotechnology to announce the initiation of a head-to-head Ph2b trial for UBX1325 against aflibercept in patients with DME, later this year.
Unity Biotechnology is actively developing drug candidates aimed at addressing cellular senescence to treat vitreoretinal diseases. Its premier candidate UBX1325 (foselutoclax) stands as a senolytic inhibitor for treating DME and wAMD.
The company is on track to release the 16-week and 24-week results from the ASPIRE trial in Q4:24 and Q1:25, respectively, as per the analyst’s projections. These outcomes are envisioned to provide insights into the efficacy of Q8W UBX1325 in comparison to Q8W aflibercept and ultimately guide the design of a Ph3 trial.
At a recent roundtable, experts exhibited enthusiasm for UBX1325, emphasizing impressive anatomical and visual benefits observed over a 48-week period.
Highlighting a strong financial position, Unity Biotechnology declared cash, cash equivalents, and marketable securities of $45.9 million in its recently released third-quarter earnings. The company’s cash reserves are anticipated to sustain its operations through Q2:25, as per the analyst’s assessment (with the company’s guidance extending to Q3:25).
The analyst’s decision to upgrade the company’s rating reflects the substantial cash reserves that can support the company’s operations leading up to the Ph2b readouts in DME.
In terms of price action, UBX shares are currently trading at $1.81, marking a 1.09% decrease during the last check on Thursday.
