SOUTH SAN FRANCISCO, Calif., April 15, 2024 (GLOBE NEWSWIRE) -- UNITY Biotechnology, Inc. (UNITY) (NASDAQ:UBX), a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today reported financial results for the fourth quarter and full year ended December 31, 2023. "On the heels of positive BEHOLD data, our team is currently single-mindedly focused on the enrollment and execution of our Phase 2b ASPIRE study in diabetic macular edema, comparing UBX1325 (foselutoclax) agains ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to _________ Commission File Number: 001-38470 Unity Biotechnology, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other juri ...

Finally, during today's meeting, we will discuss non-GAAP financial measures. Now, these non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. A full reconciliation of GAAP to non-GAAP is available in our shareholder letter and on the sec.gov website. You can find more information about these risks and uncertainties in the Risk Factors section of our filings at sec.gov. Actual results may differ, and we take ...

Financial Performance - The company reported net losses of $12.2 million and $13.1 million for the three months ended June 30, 2023 and 2022, respectively, and $23.1 million and $32.1 million for the six months ended June 30, 2023 and 2022, respectively [115]. - The net loss for the three months ended June 30, 2023, was $12.2 million, an improvement of $0.93 million compared to a net loss of $13.1 million for the same period in 2022 [130]. - The company incurred a net loss of $23.1 million for the six months ended June 30, 2023, compared to a net loss of $32.1 million for the same period in 2022, reflecting an improvement of $8.98 million [138]. - The company expects to continue incurring net operating losses for at least the next several years as it advances its drug candidates through clinical development [117]. - The company anticipates significant future funding requirements as it has not generated any product revenue and expects to incur increasing losses [149]. Accumulated Deficit and Cash Flow - As of June 30, 2023, the company had an accumulated deficit of $483.0 million and does not expect positive cash flows from operations in the foreseeable future [115]. - The company reported an accumulated deficit of $483.0 million as of June 30, 2023, with no products approved for sale and no revenue generated from product sales [138]. - The company expects its existing capital resources to fund planned operating expenses into the fourth quarter of 2024, primarily to advance the UBX1325 program [139]. - The company anticipates needing to raise additional capital to finance operations, as it has historically relied on equity and debt financing [142]. Research and Development - The company plans to initiate a head-to-head Phase 2b study (ASPIRE study) in the second half of 2023, comparing UBX1325 to aflibercept in patients with diabetic macular edema (DME) [107]. - In the BEHOLD study, a single injection of UBX1325 led to a statistically significant improvement in best-corrected visual acuity (BCVA) of +6.2 ETDRS letters from baseline at 24 weeks [105]. - Approximately 50% of UBX1325-treated patients did not require any additional injections through 48 weeks, compared to only 22% in the sham arm [107]. - The Phase 2b ASPIRE study is expected to enroll about 40 subjects, with 16-week data readout anticipated in the fourth quarter of 2024 [111]. Operating Expenses - Research and development expenses decreased by $1.1 million to $6.5 million for the three months ended June 30, 2023, compared to $7.6 million for the same period in 2022 [131]. - Total operating expenses for the three months ended June 30, 2023, were $11.96 million, a decrease of $0.53 million from $12.49 million in the same period of 2022 [130]. - General and administrative expenses increased by $0.5 million to $5.4 million for the three months ended June 30, 2023, compared to $4.9 million for the same period in 2022 [134]. Financing and Capital Resources - The company entered into a Loan Agreement with Hercules Capital, Inc., receiving $25.0 million, with an amortization date extended to April 1, 2023 [143]. - The outstanding principal amount of the term loan under the Hercules Loan Agreement was $16.8 million as of June 30, 2023 [169]. - The company closed an underwritten offering in August 2022, issuing 6,428,571 shares with net proceeds of approximately $41.7 million [146]. - The company has no committed external source of funds and plans to finance future cash needs through various means, including equity sales and debt [150]. - The company has entered into various license agreements obligating it to make milestone payments and tiered royalties based on sales of licensed products [160]. Cash Flow Activities - The company reported cash used in operating activities of $22.4 million for the six months ended June 30, 2023, compared to $29.8 million for the same period in 2022 [152][154]. - Cash provided by investing activities was $31.1 million for the six months ended June 30, 2023, primarily from maturities of marketable securities [155]. - Cash used in financing activities was $2.4 million for the six months ended June 30, 2023, mainly due to a $3.2 million principal repayment of long-term debt [157]. Restructuring and Operational Changes - The company has implemented restructuring actions, reducing headcount by approximately 29% to focus resources on ongoing clinical programs [114]. - The COVID-19 pandemic has impacted clinical trial operations, but the company has not experienced disruptions in the supply chain for drug manufacturers necessary for its studies [119]. Interest Rate and Investment Activities - The effective interest rate on the term loan was 20.03% as of June 30, 2023 [169]. - A hypothetical 1% change in interest rates would increase interest expense by approximately $0.1 million annually [169]. - The company aims to preserve capital while maximizing income from investments without assuming significant risk [168]. - The company believes its exposure to interest rate risk is not significant due to the short-term nature of its investments [168]. - Interest payments under the term loan may increase if market interest rates rise, impacting overall financial performance [169]. - The interest on the term loan accrues at a per annum rate of the greater of the Wall Street Journal prime rate plus 6.10% or 9.35% [169]. - The company’s investment activities primarily consist of bank deposits, money market funds, and marketable securities [168]. - A 1% movement in market interest rates would not have a significant impact on the total value of the company's investment portfolio [168].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to _________ Commission File Number: 001-38470 Unity Biotechnology, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdic ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38470 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR Unity Biotechnology, Inc. (Exact name of Registrant as specified in its Charter) ( State or other jurisdiction of incorporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) WASHINGTON, DC 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to _________ Commission File Number: 001-38470 Unity Biotechnology, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 26-4726035 ...

| --- | --- | --- | --- | --- | |-------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | Corporate Overview Corporate Deck | | | | | | NASDAQ: UBX | | | | | | August 2022 | | | | | 2 Special Note Regarding Forward-looking Statements This presentation and the accompanying oral commentary contain forward-looking statements including statements related to UNITY's understanding of cellular senescence and the role it plays in diseases of aging, the potential f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to _________ Commission File Number: 001-38470 Unity Biotechnology, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdict ...