Unity Biotechnology (NASDAQ:UBX) stock is gaining on Tuesday after the company released results from a Phase 2 clinical trial of UBX1325.
UBX1325 is the company’s treatment in development to treat patients dealing with diabetic macular edema (DME). What investors need to know today is that the study met both its primary endpoints for “safety and efficacy.”
Elaborating on that further, patients treated with UBX1325 experienced a mean improvement in BCVA of +7.6 ETDRS letters. There were also “no cases of intraocular inflammation, retinal artery occlusion, endophthalmitis, or vasculitis” during the 24-week study.
What’s Next for UBX Stock?
Unity Biotechnology CEO Anirvan Ghosh, Ph.D., highlighted what the results of UBX1325 could mean for DME patients:
“In today’s treatment paradigm for DME, most patients require frequent injections – and still a large proportion of patients with the current standard of care have residual visual deficits. Based on the results of this study we believe UBX1325 could lead to significant vision gain while reducing treatment burden for patients.”
Following the positive results from the clinical trial, Unity Biotechnology is already preparing for another. The company intends to conduct a second pivotal study of DME during the second half of 2023.
All of this news has UBX stock seeing heavy trading today. As of this writing, more than 25 million shares have changed hands. That’s a massive leap over the daily average trading volume of about 448,000 shares.
UBX stock is up 7.9% as of Tuesday afternoon.
There’s plenty more stock market news for traders to dive into below!
InvestorPlace is ready to go with all of the biggest stock market stories for Tuesday! That includes what’s going on with shares of Catalent (NYSE:CTLT), Tesla (NASDAQ:TSLA) and Chinese EV stocks today. You can catch up on all of this news at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.