Unity Biotechnology(US:UBX)2024-11-04 21:30Financial Performance - Net loss for Q3 2024 was $6.5 million, a significant decrease from $14.8 million in Q3 2023, indicating a 56% improvement year-over-year[6] - The total operating expenses for Q3 2024 were $6.6 million, down from $14.6 million in Q3 2023, reflecting a 55% reduction[11] Cash and Assets - As of September 30, 2024, cash, cash equivalents, and marketable securities totaled $29.0 million, down from $43.2 million as of December 31, 2023[5] - Total assets decreased to $47.1 million as of September 30, 2024, from $65.7 million as of December 31, 2023[12] - The company anticipates that current cash reserves will fund operations into Q3 2025[5] Expenses - Research and development expenses decreased by $1.8 million to $2.8 million in Q3 2024 from $4.6 million in Q3 2023, primarily due to reduced headcount and completion of studies[7] - General and administrative expenses decreased by $0.5 million to $3.8 million in Q3 2024 from $4.3 million in Q3 2023, attributed to lower personnel-related expenses[8] Future Expectations - The company expects topline 24-week primary endpoint data from the Phase 2b ASPIRE study in Q1 2025 and 36-week data in Q2 2025[4] - UNITY had a Type C interaction with the FDA regarding the development of UBX1325 for diabetic macular edema (DME), indicating a pivotal study will likely be a non-inferiority trial[2] Share Information - The weighted-average number of shares used in computing net loss per share for Q3 2024 was 16,849,283, compared to 14,598,218 in Q3 2023[11]