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UNITY BIOTECHNOLOGY UNITY Biotechnology , Inc. Reports Third Quarter 2021 Financial Results and Business Updates November 10 , 2021 UBX1325 Phase 2 study in DME currently enrolling , with additional Phase 2 study in AMD planned for 1H22 UNITY to present at invitation - only Eyecelerator innovation conference at AAO SOUTH SAN FRANCISCO , Calif . , Nov. 10 , 2021 ( 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 third quarter ended September 30 , 2021 . " In our Phase 1 clinical study , UBX1325 , a senolytic small molecule working through an entirely new mechanism of action , has shown a favorable safety profile and very promising evidence of biological activity through six months , demonstrating durability , " said Anirvan Ghosh , Ph.D. , chief executive officer of UNITY . " As announced yesterday , we share the excitement of the patient and physician community about the potential for UBX1325 as a possible disease - modifying treatment to fill the large and unmet need for options beyond anti - VEGF therapies . Our team continues to advance the UBX1325 program in a Phase 2 proof of concept study currently enrolling patients with diabetic macular edema ( DME ) , and we are using the promising data from patients with age - related macular degeneration ( AMD ) in the Phase 1 study to inform design of a Phase 2 study in wet AMD to start in the first half of 2022. " UNITY yesterday released 24 - week data from its Phase 1 study of UBX1325 in DME , along with 24 - week and 12 - week ( AMD - only cohort ) data in patients with AMD , and will present information about the UBX1325 program at Eyecelerator @ AAO 2021 in New Orleans on November 11 , 2021 , an invitation - only event featuring ophthalmic innovation put on in partnership between the American Academy of Ophthalmology and ASCRS . Upcoming Milestones • UBX1325 Phase 2a proof of concept study in DME had a first patient dosed in June 2021 and is actively recruiting patients , with information about that trial available here . Twelve - week safety and efficacy data are expected in the first half of 2022 . • UBX1325 Phase 2 proof of concept study in AMD is expected to initiate in the first half of 2022 , with twelve - week safety and efficacy data expected in the second half of 2022 . • UBX2050 ( Tie2 mAb ) and UBX2089 ( alpha - Klotho ) expected to enter IND - enabling studies in 2022 . Third Quarter Financial Results Cash , cash equivalents , and marketable securities totaled $ 88.5 million as of September 30 , 2021 compared with $ 115.6 million as of December 31 , 2020. UNITY believes that current cash , cash equivalents , and marketable securities are sufficient to fund operations through the third quarter of 2022 . Operating loss for the three months ended September 30 , 2021 was $ 14.8 million compared to $ 24.6 million for the three months ended September 30 , 2020. Cash used in operations during the nine months ended September 30 , 2021 was $ 40.0 million compared to $ 61.6 million for the nine months ended September 30 , 2020 . Research and development expenses decreased by $ 9.7 million , to $ 9.1 million for the three months ended September 30 , 2021 from $ 18.8 million for the three months ended September 30 , 2020. The decrease was primarily due to decreases of $ 4.1 million in net direct research and development expenses mainly due to termination of OA studies , delayed manufacturing and reduction in pre - clinical safety studies , $ 3.4 million in personnel costs due to reduction in force , $ 1.2 million in facilities - related costs , $ 0.8 million in laboratory supplies and $ 0.2 million in consultant expenses . General and administrative expenses decreased by $ 0.8 million , to $ 5.7 million for the three months ended September 30 , 2021 from $ 6.5 million for the three months ended September 30 , 2020. The decrease was primarily due to a decrease of $ 0.4 million in personnel costs due to reduction in force , $ 0.3 million in facilities - related costs and $ 0.1 million in professional fees . About UBX1325 UBX1325 is an investigational compound being studied for age - related diseases of the eye , including diabetic macular edema ( DME ) , age - related macular degeneration ( AMD ) , and diabetic retinopathy ( DR ) . UBX1325 is a potent small molecule inhibitor of Bcl - xL , a member of the Bcl - 2 family of apoptosis - regulatory proteins . UBX1325 is designed to inhibit the function of proteins senescent cells rely on for survival . In preclinical studies , UNITY has demonstrated that targeting Bcl - xL with UBX1325 preferentially eliminates senescent cells from diseased tissue while sparing healthy cells . In its Phase 1 safety trial in patients with advanced DME or wet AMD who were no longer expected to benefit from anti - VEGF therapies , UBX1325 showed a favorable safety and tolerability profile as well as initial evidence of relevant biological efficacy . UNITY's goal with UBX1325 is to transformationally