San Francisco – UNITY Biotechnology, Inc. [NASDAQ: UBX]a biotechnology company focused on developing treatments for age-related diseases, today announced the appointment of Alicia Tozier as its new Chief Strategy Officer.
With extensive experience in ophthalmology and pharmaceuticals, Tozier will lead the company’s corporate and product strategy, focusing specifically on the development of UBX1325, a candidate drug for the treatment of diabetic macular edema (DME).
Alicia Tozier joins UNITY with extensive experience leading 18 product launches across multiple therapeutic areas and markets around the world. She previously served as Senior Vice President at Outlook Therapeutics (NASDAQ:) where she was instrumental in preparing the company for global market entry, and as Head of the Ophthalmology division at Genentech Pharmaceuticals where she led the successful launch of some of the company’s largest growth drivers.
UNITY CEO Dr. Anirvan Ghosh expressed confidence in Tozier’s ability to drive the company’s strategic vision and operational excellence. He highlighted Tozier’s track record in building and executing go-to-market strategies and his impact on previous product launches in the ophthalmology space.
Tozier, who recently completed the Stanford Graduate School of Business’ Executive Leadership Program and earned his MBA from Colorado State University, shared his excitement about joining UNITY. He cited the company’s position as it transitions to a late-stage clinical development organization and the potential for UBX1325 to provide a new treatment for DME patients.
UNITY is working to develop medicines that remove or modulate senescent cells, with the goal of delivering breakthrough results in age-related eye and neurological diseases. The company is currently focused on the clinical development of UBX1325, which it believes has the potential to have a profound impact on the treatment of DME.
This announcement is based on a press release from UNITY Biotechnology, Inc. and does not contain any forward-looking statements or subjective assessments. This announcement is intended to provide factual information regarding the Company’s latest management additions and their impact on UNITY’s strategic direction.
In other recent news, UNITY Biotechnology has extended its Phase 2b ASPIRE study of UBX1325 from 24 to 36 weeks to evaluate potential longer-term effects. The study, which is comparing the safety, efficacy, and durability of UBX1325 versus aflibercept in patients with diabetic macular edema (DME), plans to increase the number of patients from 40 to 50 to increase statistical significance.
According to UNITY CEO Dr Anirvan Ghosh, UBX1325, which targets senescent cells, has shown significant improvements in vision in previous studies.
The study extension is expected to deliver two top-line results: 24-week primary endpoint data expected in Q1 2025 and 36-week long-term data in Q2 2025. UNITY expects financial reserves to fund operations through Q3 2025.
These recent developments underscore UNITY’s commitment to exploring new therapies for age-related diseases, with the ASPIRE study playing a pivotal role in this effort. The study aims to evaluate the safety and efficacy of UBX1325 versus aflibercept in patients with DME who have not responded adequately to existing therapies.
The primary efficacy endpoint was non-inferiority of UBX1325 to aflibercept based on mean change in best-corrected visual acuity at week 24.
InvestingPro Insights
As UNITY Biotechnology, Inc. [NASDAQ: UBX] Although UNITY has hired Alicia Tozier as its new Chief Strategy Officer, the company’s financial position and future prospects remain crucial for investors. UNITY’s strategic move to focus on developing UBX1325 for diabetic macular edema is supported by key financial metrics and analyst insights.
According to InvestingPro data, the market capitalization of $24.34 million indicates the company’s size in the competitive biotechnology industry. UNITY has an innovative approach to treating age-related diseases, but it has not made a profit in the past 12 months and reported gross profit of -$17.66 million as of Q1 2024. The company has a price-to-book ratio of 1.01, which reflects market sentiment regarding its net asset value.
InvestingPro Tips suggests that UNITY’s financial situation is mixed. On the positive side, the company has more cash than debt, giving it some financial flexibility. Additionally, its current assets exceed its short-term liabilities, which is a sign of short-term financial health. However, UNITY is burning through cash quickly and has low gross margins, which could raise concerns for potential investors.
Analysts also revised up earnings for future periods, which could signal a change in their view of the company’s future performance. Importantly, analysts do not expect the company to be profitable this year, and the valuation suggests a low free cash flow yield.
For investors looking for more in-depth analysis, additional InvestingPro tips are available at https://www.investing.com/pro/UBX Using coupon code PRONEWS24, investors can save up to 10% on annual Pro and annual or biennial Pro+ subscriptions and gain valuable insights to inform their investment decisions.
As UNITY Biotechnology continues to evolve and advance its clinical development, these financial insights and expert analysis will be critical for stakeholders to monitor the company’s progress and make informed investment choices.
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