What’s going with Unity Biotechnology?
The last time Unity Biotechnology put out a press release, on Sept. 5, a share of its stock went for $17.75. Over the next 12 days, shares of the company, which is developing treatments for aging, rose more than 30 percent, all despite a paucity of news.
And then over the past two days, Unity has fallen all the way back down to $17, the exact price at which it went public in May, again without any deal, data, or disclosure from the company.
Unity’s up-and-down market value isn’t nearly as dramatic as what’s happening in the world of medical cannabis, but it serves as a reminder that biotech can be inexplicably volatile. Unity only just dosed the first patient in its first clinical trial, and it won’t have any data to disclose for months, meaning its stock price will continue to rise on fall on the animal spirits that drive biotech sentiment.
Elsewhere, some scientists at the Mayo Clinic used Unity’s approach to anti-aging to prevent Alzheimer’s in mice. Perhaps the company will trade up this morning.
And then over the past two days, Unity has fallen all the way back down to $17, the exact price at which it went public in May, again without any deal, data, or disclosure from the company.
Unity’s up-and-down market value isn’t nearly as dramatic as what’s happening in the world of medical cannabis, but it serves as a reminder that biotech can be inexplicably volatile. Unity only just dosed the first patient in its first clinical trial, and it won’t have any data to disclose for months, meaning its stock price will continue to rise on fall on the animal spirits that drive biotech sentiment.
Elsewhere, some scientists at the Mayo Clinic used Unity’s approach to anti-aging to prevent Alzheimer’s in mice. Perhaps the company will trade up this morning.
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