Unity Biotechnology, Inc. (UBX) stock falls today: Here’s Why

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Shares of the UBX stock were falling in the intraday trading session today on November 24, 2021. UBX stock price declined 1.26% to reach $2.32 a share at the time of this writing. The trading volume on the last check was 745,321. Let’s dig in to understand the reason behind this bull.

What’s Happening?

There is no announcement or press release by the Unity stock in today’s date to justify the bearish sentiment. No analyst has degraded or decreased the targeted per share price of the UBX stock in recent times. It seems that sentiment is negative for this stock due to which its per-share price is lowering today. So, what do you need to know now at this point? Let’s discuss some recent events of this stock.

Third Quarter 2021 Financial Results:

UBX stock reported a $14.8 million operating loss in the third quarter of 2021. This compares to a $24.6 million operating loss in the same period of the previous year. In the first nine months of 2021, UBX stock used $40.0 million in operations as compared to $61.6 million in the same period of the previous year.

Unity stock spent $9.7 million in research and development expenses in the third quarter of 2021. In the same tenure of the previous year, the stock spent $18.8 million in research and development expenses. Many factors including lower net direct research and development expenses, terminated OA studies and personnel costs resulted in the decline.

UBX stock spent $5.7 million in general and administrative expenses in the third quarter of 2021. This represents a $0.8 million decrease as compared to $6.5 million in the same period of the previous year. The decrease is attributable to lower personnel costs as well as facilities-related costs.

Upcoming Milestones of UBX stock:

  • Unity stock dosed the first patient in UBX1325 Phase 2a proof of concept study and currently recruiting more patients. The company expects to release 12-week safety and efficacy data within the first six months of 2022.
  • UBX1325 Phase 2 proof of concept study is likely to begin in the first half of 2022. The safety and efficacy data will be released in the second half of 2022.
  • The company hopes that UBX2050 (Tie2 mAb) and UBX2089 (alpha-Klotho) will enter IND-enabling studies in the next year.

Wrap Up:

Unity stock is falling today despite any solid reason related to it. The stock has lost nearly 47% in the last six months and almost 59% year to date.

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