H.C. Wainwright downgraded Unity Biotechnology (UBX) to Neutral from Buy with a price target of $2, down from $4. The firm cites the company’s management transitions and forthcoming platform direction for the downgrade. Following the previously announced primary endpoint miss for the Phase 2B ASPIRE study comparing UBX1325 and aflibercept in diabetic macular edema patients not achieving non-inferiority at the average of weeks 20 and 24 primary analysis, H.C. Wainwright downgraded Unity.
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