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.

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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.

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