UNITY Biotechnology, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results and Business Updates

Core Viewpoint - UNITY Biotechnology, Inc. is focused on developing therapeutics aimed at addressing diseases of aging, with a particular emphasis on diabetic macular edema (DME) through its candidate UBX1325, which is expected to provide a differentiated treatment option compared to existing therapies [2][4]. Financial Results - As of December 31, 2024, the company reported cash, cash equivalents, and marketable securities totaling $23.2 million, a decrease from $43.2 million as of December 31, 2023, but sufficient to fund operations into the fourth quarter of 2025 [4]. - The net loss for the year ended December 31, 2024, was $26.0 million, down from $39.9 million in 2023. For the fourth quarter of 2024, the net loss was $8.4 million compared to $4.3 million in the same quarter of 2023 [5]. - Cash used in operations for the year ended December 31, 2024, was $20.9 million, a reduction from $37.1 million in 2023. In the fourth quarter of 2024, cash used in operations was $5.9 million, down from $6.7 million in the fourth quarter of 2023 [5]. Research and Development - Research and development expenses decreased by $7.1 million to $13.0 million for the year ended December 31, 2024, primarily due to reduced personnel costs and the completion of previous studies. For the fourth quarter of 2024, R&D expenses were $3.1 million, slightly down from $3.3 million in the same quarter of 2023 [6]. - General and administrative expenses also saw a decrease of $3.5 million to $15.5 million for the year ended December 31, 2024, attributed to lower personnel costs and professional fees. In the fourth quarter, these expenses were $4.3 million, down from $4.4 million in the fourth quarter of 2023 [7]. Clinical Development - The company expects to receive 24-week topline data from its Phase 2b ASPIRE study in DME within the current quarter, with 36-week data anticipated in the second quarter of 2025. The study is designed to evaluate the safety and efficacy of UBX1325 in comparison to aflibercept [2][3].