Month: March 2022

SOUTH SAN FRANCISCO, Calif., March 15, 2022 (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 fourth quarter and full year ended December 31, 2021. “In 2021, we sharpened the focus of our pipeline strategy and further underscored the therapeutic value of our lead candidate, UBX1325, a novel senolytic small molecule with disease-modifying potential, for the treatment of diabetic macular edema (DME) and age-related macular degeneration (AMD),” said Anirvan Ghosh, Ph.D., chief executive officer of UNITY. “Supported by strong underlying biology as evidenced by preclinical data, and impressive results from our Phase 1 study in patients with DME or AMD, we believe UBX1325 has the...

Ovid executing on its strategy to build a leading epilepsy pipelineOV329 expected to enter the clinic in 2022Organization reshaped to reduce personnel by 20% and increase operational efficiencyTargeted business development continues to support the pipelineNEW YORK, March 15, 2022 (GLOBE NEWSWIRE) — Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with epilepsies and seizure-related disorders, today provided a business update and reported financial results for the fourth quarter and full year ended December 31, 2021. “Ovid is disciplined in our focus to become a leader in epilepsy therapies. We are advancing a pipeline with novel mechanisms of action, which we hope will become medicines for the nearly 20-40% of epilepsy patients...

On track to submit IND application for ENTR-601-44 targeting Duchenne muscular dystrophy in 2H 2022 $291.1 million in cash and cash equivalents as of December 31, 2021 to advance pipeline of EEV-therapeutic candidates BOSTON, March 15, 2022 (GLOBE NEWSWIRE) — Entrada Therapeutics, Inc. (Nasdaq: TRDA), a biopharmaceutical company aiming to transform the lives of patients by establishing intracellular Endosomal Escape Vehicle (EEV™) therapeutics as a new class of medicines, today reported financial results for the fourth quarter and full year ending December 31, 2021 and highlighted recent business updates. “The fourth quarter of 2021 marked a significant milestone for Entrada, as we secured approximately $209 million in gross proceeds from our initial public offering and became a Nasdaq-listed company,” said Dipal Doshi, President...

Completed enrollment in Phase 2b sickle cell disease and beta-thalassemia trials with tovinontrine (IMR-687); expect to report both interim datasets in first week of April 2022 Changed primary endpoint of Ardent Phase 2b trial in sickle cell disease to reductions in annualized rate of VOCs at written request of the FDA Added clinical indication for tovinontrine to include the treatment of HFpEF; anticipate first subject dosing in Phase 2 trial in second quarter of 2022 Expanded pipeline with addition of IMR-261, an oral, clinic-ready Nrf2 activator with potential indications in hemoglobin and iron overload disorders Company to host conference call and live webcast today at 8:30 AM ET BOSTON, March 15, 2022 (GLOBE NEWSWIRE) — Imara Inc. (Nasdaq: IMRA), a clinical-stage biopharmaceutical company dedicated to developing and commercializing...

Fiscal Year 2021 Net Sales and Adjusted EBITDA Exceeds Full-Year GuidanceFourth Quarter Net Sales +17% on Continued Strong Consumption and Accelerating Share GainsProvides Fiscal Year 2022 Guidance LOUISVILLE, Colo., March 15, 2022 (GLOBE NEWSWIRE) — Sovos Brands, Inc. (“Sovos Brands” or the “Company”) (Nasdaq: SOVO), the fastest-growing food company of scale in the United States, today reported financial results for its fourth quarter and fiscal year ended December 25, 2021. Fourth Quarter Highlights:Net sales were $189.2 million, a 17.0% increase over the prior year period, led by strong volume growth across core categories – sauce, yogurt and frozen Rao’s became the #2 pasta and pizza sauce brand, with dollar market share reaching an all-time high of 15.4%; household penetration for Rao’s sauce also reached a new record of...

Record Q1 net revenue of $7.0 million, up from $6.6 million in Q1 2021 Volume growth of 22% as a result of stronger velocities and increased points of sale Fastest growing energy drink in Canada in the last 52 weeks1 Gross margin of 55% (versus 51% in Q4 2021 and 62% in Q1 2021), reflecting the change in the Company’s business model for the Canadian market since Q4 2021 Strong financial position with cash and unused credit facilities of over $70 million to support ongoing North American growth plans Subsequent to Q1, GURU increased its points of sale by 1,500 retail locations, primarily in California, supported by an expanded DSD distributor network Subsequent to Q1, launch of GURU Guayusa Tropical Punch across Canada following successful launch in Quebec, where Guayusa ranks as the #6 Top SKU in C&G2. The launch will be supported...