Unity finds itself with a finite amount of cash as new data provide a ray of hope for investors
It has not been an easy road for the anti-aging startup Unity Biotechnology. From staff cuts to a lead program loss, the company has run into several obstacles on its journey, but their latest news points to both the perils and potential ahead.
In the biotech’s Q2 results on Friday, the company revealed it has only enough cash to fund its operations through the first quarter of next year, with posted results showing that Unity had $64.5 million in cash and market securities at the end of the quarter. This is compared to the $79.2 million the biotech had at the end of March. The company also had an operating loss of $12.3 million for the quarter as well.
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