Clinical catalysts for biotech stock on track for mid-2022
Upcoming potential stock movement events include new data regarding the company’s lead therapeutic candidate for age-related eye disease, according to a report from ROTH Capital Partners.
Unity Biotechnology Inc. (UBX:NASDAQ) is approaching three catalysts expected this year related to its ophthalmic clinical programs, ROTH Capital Partners analyst Elmer Piros reported in a May 12 statement. research note.
Piros relayed upcoming events. One, scheduled for mid-2022, is for 12-week results from UNITY’s ongoing Phase 2a BEHOLD trial of UBX1325 in patients with diabetic macular edema.
The second event is Unity identifying other potential drug candidates, from its Tie2-VEGF bispecific program and Tie2 antibody UBX2050, to pursue through clinical trials.
The third, expected in Q4/22, is the first data set, at 16 weeks, from Unity’s just-initiated Phase 2 ENVISION trial evaluating the biotech’s senolytic agent UBX1325 in patients with age-related neovascular macular degeneration. Patients will be assessed for safety and effectiveness every eight weeks. The primary endpoint is visual acuity.
In ENVISION, 46 treatment-refractory patients will receive injections of 10 micrograms of UNITY’s UBX1325 at weeks zero and four or receive standard treatment, 2 milligrams of aflibercept every eight weeks for up to 24 weeks.
Piros also reported that ROTH had lowered its target price on UNITY to $3 per share from $4 as the biotech is expected to have “declining liquidity” across the board. Now, however, the drug developer has enough cash for about 12 months of operations, with $79 million at the end of Q1/22.
ROTH Capital Partners maintains its buy rating on UNITY Biotechnology.
You want to be the first to know about interesting information Biotechnology / Pharmaceuticals investment ideas? Sign up to receive the FREE Streetwise’ reports newsletter.
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own shares in the following companies mentioned in the article: None. She or members of her household are compensated by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of the Streetwise Reports billboard: None. Click here for important information on referral fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is provided for informational purposes only and does not constitute a recommendation to buy or sell any securities.
4) The article does not constitute investment advice. Each reader is encouraged to consult their financial professional and any action taken by a reader as a result of the information presented here is their own responsibility. By opening this page, each reader accepts and consents to the full Streetwise Reports Terms of Service and Legal Notice. This article is not an investment solicitation. Streetwise Reports does not provide general or specific investment advice and information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the activities, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or their family members, as well as those interviewed for articles and interviews on the site, may take a long or short position in the titles mentioned. Directors, officers, employees or members of their immediate family are prohibited from making purchases and/or sales of such securities on the open market or otherwise from the time of the decision to publish an article until three days working days after the publication of the article. . The foregoing prohibition does not apply to articles which, in substance, merely reproduce previously published company press releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed healthcare professionals. Readers should always contact their healthcare professionals for medical advice.
Disclosures for Roth Capital Partners, UNITY Biotechnology Inc., May 12, 2022
ROTH creates a market in shares of Unity Biotechnology, Inc. and as such buys and sells clients on a principal basis. Shares of Unity Biotechnology, Inc. may be subject to the Securities and Exchange Commission’s Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business dealings with the covered companies mentioned in this report within the next three months. Material, information and facts discussed in this report, other than information about ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be relied upon as a comprehensive analysis of the company, industry, or security discussed in the report. Additional information is available upon request. However, this is not an offer or solicitation of the securities in question. Any opinions or estimates contained in this report are subject to change without notice. An investment in the shares may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH.