Furthermore, the debt-to-equity ratio is currently at 1.44x, while their long-term debt to equity ratio is 0.32x. Their debt ratio stands at 0.59x, suggesting they are not overly funded by debt. This suggests they are managing their debt well and have not been taking on excessive additional loans. Their long-term debt commitments stand at $12.6 million as of June 2022, down from $18.4 in December 2021. These improvements have resulted in an improved net loss per share, decreasing from $0.32 to $0.19 between the three months to June 2021 and the three months to June 2022. This was alongside decreases in operating expenses ($17 million versus $12.4 million) and a smaller net loss ($17.8 million versus $13.1 million) over the same period. The latest quarterly results reported revenues through licensing of $236,000 in the three months to June 2022, from none in the three months to June 2021. However, should these trials fail, Unity Biotechnology will be left in a difficult position with their other compounds being several years away from bringing in revenue. Success in these trials would be a good step towards getting a product approved for these important conditions. Investigating UBX1325 in the treatment of wet age-related macular degeneration, ENVISION has a scheduled completion date for January 2023 results should become available in Q1 and Q2 in 2023. Unity Biotechnology also recently announced completion of enrolment of the ENVISION trial. Results of the phase II proof-of-concept BEHOLD trial, investigating UBX1325 for diabetic macular oedema showed an improvement in visual acuity at 12 and 18 weeks compared to the sham treatment. Unity Biotechnology’s lead compound is UBX1325, which targets a protein required by senescent cells for survival. Ageing senescent cells are thought to interfere with functioning of surrounding cells and can lead to disease progression targeted treatment of these senescent cells is a growing area of interest to slow, or even reverse, signs of ageing. Senescence has been linked to many diseases of ageing, including ophthalmic conditions. Unity Biotechnology aim to follow a different strategy of targeting a process called senescence, or the deterioration of cells with age. Most current treatments are small molecules targeting well established molecular pathways, such as VEGF inhibitors which are some of the more common treatments and are the main drivers behind the market size. The market for related conditions such as diabetic macular oedema is estimated to reach $11.1 billion by 2031. Diabetic retinopathy affects up to 40% of patients with type 2 diabetes in the USA, of which up to 8% of cases may be vision threatening and include diabetic macular oedema. Unity Biotechnology have several products in development, but the most developed are focused on ophthalmology for conditions including diabetic macular oedema, diabetic retinopathy, and age-related macular degeneration. While they have Silicon Valley backing and are surrounded by bold claims, they must still manage to pass unforgiving clinical trials that can quickly dash hopes for success. Sold as a streamlining process, the restructure highlights the risks faced by start-ups. In 2020, they cut 30% of their workforce after a major phase II trial failure, for a compound designed to treat osteoporosis. Unity has faced some challenges over the last few years. Jeff Bezos is another high-profile investor in these industries, including in Unity Biotechnology. Several new companies have appeared that are aiming to treat or even reverse conditions of ageing and have received the backing of high-profile billionaires businesses such as Altos Labs, formed in part with Russian billionaire Yuri Milner, and Calico Labs from Google’s Larry Page. And with an aging population comes a rise in diseases such as heart disease, osteoporosis, ophthalmic disorders, and diabetes. By 2040, it is estimated that there may be 81 million Americans aged over 65 years, up from around 57.8 million today. This interest is the result of shifting demographics: particularly in the West, the overall population is ageing. National Institute of Ageing has grown to $3.9 billion, and requested to increase to over $4 billion in 2023. The anti-ageing market is a relatively new but rapidly growing area that is quickly becoming a multibillion industry. Unity Biotechnology ( NASDAQ: UBX), from San Francisco, US, is developing treatments for diseases of ageing, targeting ophthalmic and neurologic diseases to leverage partnerships in areas of high unmet need. Like death and taxes, ageing is inevitable, but some biotechnology companies are looking to change that. Liudmila Chernetska/iStock via Getty Images Main news
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